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Strategies & Market Trends : Sharck Soup

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To: Dave Gore who wrote (28158)6/15/2001 12:44:44 PM
From: Dave Gore  Read Replies (1) of 37746
 
THE "VIX" QUESTION - Can we really rally from here? When the Market tanked from mid-Feb to very early April this year, the VIX broke above 24 or so and climbed to 42 in late March, then fell a bit, and finally made a lower top at 41. Then around April 5th the Market took off on the upside with the COMPX rising over 500 points in 2-3 weeks as the VIX dropped dramatically again into the mid-high 20's.

If we follow even close to the same pattern, the Market is not through tanking yet. Obviously the VIX is just one indicator though and the big question is whether this indicator will be heeded or ignored.

It may be that it will be hard to get the VIX back up above 35 again with the summer doldrums looming. But....I would feel a lot better going long and holding overnight if the VIX was closer to 32-35 at least.

Right now, everyone is watching the COMPX close above 2000 and a few other things. Meanwhile the VIX question looms.
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