Capitulation Friday?

From: http://www.cnbc.com/id/29536876

"Market Insider: Wall Street Braces for Ugly Friday"
Posted By: Patti Domm

Let's face it. Nothing about Friday's employment report will be pretty, and the 7 percent decline in stocks this week has been signaling that.

Yet, stocks enter Friday still nervous about a jobs number that some economists say could point to a worse-than-expected decline in the economy during the first quarter.

Economists expect the biggest job losses in 60 years, with a decline in non-farm payrolls of 650,000 and an employment rate of 8 percent.

Traders are holding out hope that the vicious selling in the stock market this week is a sign it is closing in on capitulation, and a bad jobs report could be the trigger for a big sell off.

"There's always a chance. The level of despondency is very high..." said Art Cashin, UBS director of floor operations...