I'm curious does anyone know what the VIX would have been during that 1987 meltdown...I know they didn't publish it until after then, but maybe someone out there has back-calculated it... Personally, I agree that there's not nearly enough fear in there yet for us to bottom...VIX in the 60's I will reconsider.
http://finance.yahoo.com/q?s=^VIX&d=c&k=c1&a=v&p=s&t=my&l=off&z=m&q=b http://www.cboe.com/MktData/vixarchive.xls OHLC 10/19/87 71.33 152.48 62.48 150.19 According to the CBOE web site, the VIX index was introduced in 1993, but I guess it can be calculated for any times when the OEX options were trading. Hard to believe that 152.48 is correct, but who knows. -v
i believe it will go both ways at some point on monday. therefor i will keep rigid stops and follow my disciplines.
Thanks vitajex. I find it amazing that we haven't seen a close above 50 since that period in '87, including 9/21/2001. Looking at those numbers and looking back over the past year, I'm beginning to think these curbs do more harm than good by telling us how and when to trade... Seems that market crashes are an unpleasant but necessary part of the cycle...