this (the 1987 overlay) is the oldest trick in the book... the market action totally sucks. here's hoping for a bounce. somebody needs to post the VIX daily and monthly -- I don't have access to it where I am right now. Calling DGabriel!
The crazy thing was the FOMC triggered rolling short squeeze ( I think that was the "V-bottom") and the next few days sell-off and subsequent breakthrough two major support levels. This is not post major drop in a 2 year bear market ala end of 2002, this is a decent sell-off in a market where for the past 3 years you make money buying the dips. What if no one buys the dip? I'm waiting for this to shake out before committing my "long-term money" back to work. I want to see a confirmed bottom. Let it shake out. Of course Index day trade the snot out of it if that's your inclination. JMHO FWIW
The panic which infused the options market resulted in the VIX spiking up to 17.73, its highest value since August 13, 2004. In past issues we have shown the VIX compared to its 50 day simple moving average, along with volatility bands set one 50 day standard deviation on either side of the moving average. Our page 1 indicator just meaures how far the VIX is away from that moving average, measured in units of those standard deviations. Friday's closing reading was -4.12, which is the most extreme value we have seen since September 17, 2001, the first trading day after the 9/11 attacks. Prior to that, we have to go all the way back to the mini-crash of of October 1997 to find a similar reading. This is the sort of category that this sell-off falls into." McClellan Report, April 15, 2005
i'm from the ihub stuff. glad to be on the elite trader. i did a few there about the decline to come this spring. it came friday on tax payment day. two loses in a row on the same day from our pockets. i'm looking for monday to be down. it could be a black monday to remember for us. jim cramer kind of hinted in his message after market thoughts.
With all you guys acting like it's the end of the world Monday morning 9:30 AM I wouldn't at all be surprised to see a nice solid rip straight up. The moron index is not only on the Yahoo boards, that's for sure. --opm8
lets see how the sunday night monday am globex /ECBOT futures are going and how asia and europe trades .... before all this 9:30 am EST gloom and doom
Fahgawdsakes, Vehn, we're traders, not english majors! is there a picture that goes along with all this chatter?!
ok in street english. the vix jumped a bunch in a short period of time and it doesnt happen very often.