iao - well I did ask for some time for examples of "capitulation" in the past 100 years and believe it or not no-one could even point to one never mind a pattern.
I only believe in business. If business is good then the market will react to that and so will investors. If business is bad or as it is now increasingly looking even worse then who would want to own stocks. There is no point.
But if by some miracle we can get a rally going here for reasons that I can not imagine then, people will feel better about the future, confidence will return and the market can return to growth.
Muy only issue now is that I haven't seen large numbers of companies coming out and saying business is improving or there are signs that it is improving either this year or worse still next year. All I ahve seen and can recall is the appaling reports of exactly the opposite ie that we have no forward visibility and I take that to mean that things are getting worse.
Best,
L
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