Many pundits are saying that we have already seen the capitulation that signals the bottoming of the market. I believe we will not only see capitulation, but a series of capitulations due to the perfect storm of a slowing economy, a lack of public confidence, the credit crunch and liquidity crisis, real estate values plummeting, poor retail sales figures, foreclosures, fear, and government ineptitude. The DOW will be below 8000 (and possibly below 7600) before there is a true bottoming out of the market. Look out below!
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