Rajan: Investors 'Getting Closer to Capitulation'
DARYN KAGAN, CNN ANCHOR: Let's bring Greg Clarkin of CNN Financial News. He is tracking the markets from the Prudential Securities trading floor. He is joining us live from New York. Greg, good morning.</s>GREG CLARKIN, CNN CORRESPONDENT: Good morning, Daryn. Very, very choppy trading here this morning, and what we are seeing is the Dow coming back strongly, the Nasdaq coming back off its early session lows really. Now to give us sense as to exactly if the morning has turned out the way a lot of folks expected it is Ash Rajan. he is with Prudential Securities. He is one of the market strategists here. Ash, give me some sense, early on, is there anything you can discern about this market, where it is going to today?</s>ASH RAJAN, PRUDENTIAL SECURITIES: You know, everything is coming together, you have margin selling, you have tax-related selling, also there will be some redemptions from the funds, all of it coming together in one session. Yet it is too early to tell if all of that is manifesting this morning. you have this little rally now. The important thing is, does the rally hold? It is the quality of the rally that we are watching to see if we can build a consolidation or a bear phase?</s>CLARKIN: Ash, quickly, have you seen any kind of psychological change over the last week in investors?</s>RAJAN: Clearly, we are getting closer to the capitulation, we are getting closer to the panic, we are getting to the fear. All of these are good to get back to the sentiment change. Two weeks prior, we were complacent, now we are certainly, and that is good sign for the shift.</s>CLARKIN: Ash Rajan, thanks very much. That is the situation here at Prudential Securities in Lower Manhattan. Greg Clarkin for</s>CNN. KAGAN: Greg, thank you. Search CNN.com CNNSI.com CNNmoney.com The Web