> Since there really hasn't been a capitulation, where everyone who would ever sell actually sold, it's likely the bears are still in control. I have heard thi

> Since there really hasn't been a capitulation, where everyone who would ever sell actually sold, it's likely the bears are still in control. I have heard this before, but I am having trouble feeling this. How do you determine capitulation? We had several days where trading was halted for a time due to steep losses, and 3/16 was the second biggest percentage loss in history (for the Dow at least). If that isn't capitulation, what is? Hitting the 20% circuit breaker a few days in a row? Only in 1987 has the market fallen more than 20% in a day. One reason I think the market is rising is because "everyone who would ever sell actually sold". Therefore, only the eternal optimists are left; the pessimists are sitting this one out.