Discussion in 'Trading' started by ByLoSellHi, Jan 23, 2008.
I mean, this is unreal.
From -295 earlier to +225 ???
In the spate of two hours????
On NO news?????
There is news out there. Not to mention the very well known 1270-75 level in the SnP cash
HERDING - gathers moment from other traders
You obviously weren't trading between 1998-2002. These reversals, plus 4%, 5% and even greater up/down days happened back then...
When extended from the moving averages like this it takes no news for wild moves.
Volitility has been dropping like a stone all afternoon, this is just a massive short squeeze.
This time it's much tougher to trade, the whipsaws are brutal due to computerization. 2001 ~ 2002 was easier, tapes are more jagged now.
Volatility like this was almost a daily occurrence from 1998 to 2002. 2004 to summer of 2007 were a sleepy period.
Definitely crazy action, and a lot of money being transferred here among traders.
Completely agree, austinp.
i would humbly disagree, VIX really only dropped in the 3pm hr
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