Rock bottom, when you reach it, you won’t know it

Capitulation, the point in the market cycle of emotions when right before despondency. Despondency is actually the point of the opportunity for greatest profit, and reaching that point requires going through a painful process. The primary factor is that before any recovery we will need to see all of the dead-wood clear from the system, and that is not a pleasant process, it is however, an important part of the process and anybody who says we can have ‘painless recovery’ is not telling the truth.

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