| | DOW | 9258.1 |  | -189.01 | -2% | | | NASDAQ | 1740.33 | | -14.55 | -0.83% | | S&P | 984.94 | | -11.29 | -1.13% | | | | | |  | Scott Cohn, CNBC Senior Correspondant
Where's the bottom? In every market sell-off in the past 20 years, we have been told to look for "capitulation." That's when the strongest bulls cash it in.
Fear rules, and no one seems willing to invest. It will be painful, we are told. But ultimately, a buying opportunity. The trouble is that in every sell-off since 1987, we became so conditioned to thinking about capitulation that we probably never really experienced it. Is this time different?
Just this week, a certain TV pundit and a well-respected mutual fund manager both said investors may need to consider selling some of their stocks—even if it means taking a loss—to preserve short-term capital. Fear pretty clearly rules this market, and it sure is painful.
So is this it? Maybe, but don't obsess about it. A market bottom is nearly impossible to call, even for the pros. But that doesn't mean you can afford to ignore the selling. I cringe when people tell me—as many have lately—that they've stopped opening their statements because they can't bear to look. At some point—maybe soon—you'll see the greatest buying opportunity of your life. But you will only see it if your eyes are open.
| | | | What the Pros Say: Where to Find Shelter
Asian markets sold off heavily Wednesday morning as fears of a global recession snowballed with no coordinated response or an end to the worsening financial meltdown. Tokyo saw its biggest one-day percentage loss in 21 years...read more | | |
| | Editor's Desk: A Credit Crisis Lexicon
We're getting quite a few new readers these days, thanks to this ongoing crisis. And it's becoming apparent we need a lexicon. Here's my stab at it ... we'll update it as terms come and go into vogue. And of course, you folks are welcome to make suggestions...read more | | |
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Tonight on CNBC's continued special report: Surviving the market volatility, the health of the consumer and how you can find steady ground. "Wall Street Crisis: Is Your Money Safe" 7p ET hosted by Larry Kudlow | |
| | 3. Trichet on Cut 
European Central Bank president Jean-Claude Trichet discusses the worldwide coordinated interest rate cut, with CNBC's Silvia Wadhwa. | | |
| | 4. Dollar Becoming a Safe Haven
"The worst period of the US dollar is behind us," said Royce Tostrams from Tostrams Groep, calling the dollar a "safe haven" for investors. | | |
| | 5. Banks, Rates & Beyond
Billionaire investor Sam Zell says it it wasn't for mark-to-market accounting, we never would have had this fallout to begin with. CNBC's Maria Bartiromo spoke with the mogul. | | |
| | CNBC.com BLOG OF THE DAY | |  |
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