There are only 7 important trading days left until the end of the year. Finally, there are some signs of capitulation appearing: the investment survey among private investors points out to a surge of market participants having a negative view over the future course of the stock market and the bull to bear ratio hit the lowest level of the year. This morning, we learned that Philippe Jabre joined the list of hedge fund managers closing their funds. An estimated 174 hedge funds were liquidated during the third quarter and the trend should continue in the fourth quarter. The trading session was again choppy, the stock market opened up by 2% before ceding under some selling pressure towards the close, for once, breadth closed on a strong note: 2449 stocks advanced compared to 1236 that settled down.