Pretzel Logic Posted November 19, 2008 Report Share Posted November 19, 2008 I went back to the one minute chart late today as it still seems the most well behaved and logical. In 3 trades today I fought 'em to a draw on the late day ramp. I was feeling that we'd get a turn to the upside. But we ended the day overbought in a downtrend, so I entered an order to short the 95 spy calls at 865 ($6 higher than the close at the higher of two of Doc's cycle projections), and lo and behold it didn't take long in the afterlife for it to fill. Feels like the same bearish action we've seen for weeks. Short's rush to cover into the close followed by a gap down. VIX looks to me like it wants 75. Nice chart. I was playing with the idea that the market has been loosely tracking this channel: Should know pretty quick tomorrow if it has any weight. Link to comment Share on other sites More sharing options...
phatbubble Posted November 19, 2008 Report Share Posted November 19, 2008 I think someone posted a chart here, not too long ago showing it was above 100 during the 87 crash, although the computation of the index has changed I believe. The original VIX (now the VXO) tracked the S&P 100. The new VIX tracks the S&P 500, with some additional strikes, I think. VXO hit 103 in October, VIX hit 89. The VIX hit 150 in 1987. Link to comment Share on other sites More sharing options...
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