Zeev's Turnips Patch-No Politics (ZEEV)

[extelecom]

Zeev, The press seems to be hung up on the market not having a good bottom until we have "capitulation". Being the relative neophyte to the market and TA that I am, I have to ask the question, "Who says we have to have capitulation". I think in the last 7 - 10 years the Internet has done much to enlighten people to certain pitfalls in the market and we may not see the "Lemming" like behavior of capitulation. Any thought on this?
When I came home just now they had Lazlo Birinyi on the T.V. and he made the following comments: (I am sure if I misquote someone will correct):
1. We do not have to have Capitulation for a bottom (Cited several instances)
2. The public side of total "short interest" in the market is 51% which is a very good sign that the bottom is in!
I find this interesting as I have never heard of this as an indicator before...

Sorry for the lengthy post, I shut up now!


Am impressed with VTSS performance last 2 days!

ET