sort of smells like it today but since its friday i would bet monday will be huge capitulation...then again banks report next week.
Banks do report....how worse can it get........... Markets are holding up alot better than I thought they would.
Not today thanks to the Fed. Now we have a massive short covering rally and the VIX is going back to $25.
Not today. Each time it gets close, we rally, keeping the bearish pressure on. We need a real toilet flush day when there is NO rally, just a one-way puke down to levels that make ppl sick. I would say next week could see the bottom. Expiration Friday, lots of bank results. Perfect for a "sell the rumour, buy the news" setup. VIX above 35 intraday would be good too.
VIX above 35 would be good, but due to a number of issues, that might not happen. There has been such a poor correlation between SPX puts accurately tracking portfolios that PM's have been going back to individual stock puts for much more accurate protection. Also interesting to note, the VIX has been staying "in-line" with actual volatility, which hasn't increased all that much. 20-day historical vol of the SPX is currently about 21.