VIX really does not mean as much as it use to. It is low, and yes it is going lower. However, it does not mean that the market will "dry up" persa. It just means that we will continue to chop higher until the market decides to snap back at which time the VIX will jump. If you would have bought techs, not scalped them, but actually pick a direction and held, you would have made money. I bought some futures off the open and held all day. However, i saw plenty of opps in stocks.. To day was not a "daytrading day", it was a momentum day. As i lost a little daytrading options vrs playing the Futures on mometum. IMHO, a trader that can learn to do both, scalp in and out when called upon and one who can buy/sell and hold with conviction when called upon will be the successful trader regardless of the VIX.
As in this quote perhaps? On whose authority would the above writer espouse to be an expert on the VIX? The inherent value of the VIX is not necessarily in the absolute value in and of itself with any degree of certainty nor in its usefulness as an intraday or short term indicator as the above writer would imply. The value lies in the fact that it has a high probability to be mean reverting. That is to say over a 10, 20 SMA, it has a high probability to revert to the mean. See the extensive study done by Larry Connors and Gregory Che, "Trading Connors VIX Reversals" So true