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I'm sensing that capitulation is not here yet. It may be close though and I suspect that it will be tied to a Greek default, maybe. Buying now will probably be a lot better than OK in 6-12 months but one may still need a strong stomach if there is a further shake out.
I want to hold out with some cash for capitulation, if it comes. Other wise I will buy back in with the last of my cash on the way up later on. I've made a few good buys already but not willing to go all in yet. Only dumb luck will ever buy the exact bottom anyway.
