Rosie on Capitulation

"In fact, there really is very little in the way of real capitulation despite what a couple of surveys say. Barron’s this week is a classic case in point — the feature interview is titled It’s Not Time to Abandon Stocks (at true lows, you actually read the opposite) on page 36 and Barron’s forecasting roundtable (page 23 — Hoping for the Best — again, the title just about says it all). Not one of the 10 prognosticators is calling for a down equity market by year-end, and the average for the S&P 500 is 1,184 (the median is 1,160)."