The VIX may be of better use if looked from a dynamic perspective rather than a static one. In other words, relativity comes into play when looking at it over the short-term because obviously over the long-term it hasn't indicated what it's known to.... So it's the short-term fluctuations of moving averages that create better signals rather than simple and static belief that it corrcts once at a historical level.
I think it is time to switch from stop loss orders to buying a call or put. (Although I think it has been that time for a while)