was the bail out package withdrawn, page-20

If you are looking for capitulation to happen, and if you think today was it, well think again.

Capitulation happens when the following criteria are fufilled.

a) Heavy volume. Like tape breaking volume.
b) Violent and fast move down from the opening bell, a couple of hours bouncing around at a certain level, and then a rally back up to virtually unchanged.
c) The volume must be constant thoughout the day, accelerating in the afternoon.

It may happen tonight. The Dow could open down 200-300, drop very quickly to be below 8000, and then turn to be down 100 by close of business.

I hope it does. But with a holiday Monday, the only buying you are going to see is a short covering, which may happen, now that you can short again.

I know if I was short, and there is a weekend and a day where IMF are discussing how to fix the whole, and being short down here, that's fiscal madness.

Having said that, I would have bet (and I did) that the US market was going to bounce last night, and I was completely wrong.

Just my two cents.