Are too many people waiting for vix over 30?

Discussion in 'Stocks' started by seasideheights, Jul 1, 2008.

  1. They say a bell doesn't ring at a market bottom.

    Has the vix over 30 become the bell that won't ring?
     
  2. Either the VIX over $30 or some actual positive economic news that isn't GM giving away cars will turn it around.
     
  3. Could be - everyone depending on the same indicator usually makes it worthless in terms of predictive value (or a self fulfilling prophecy).
     
  4. the vix does look like it's breaking out of that mini triangle..

    We're getting close to the bottom, not willing to risk 15% of my cash on it just yet
     
  5. Man I don't know what makes you think that the bottom is in.

    Have a look at the S&P weekly chart and see how many potential double bottoms you can see on the way down in 2002. VIX is a pretty useful indicator I'm still shorting against a] The previous days high, and b] The 3 days high.

    You may see a bounce but IMO the market needs to capitulate and finish the last wave of transfer of wealth from weak hands to strong hands before it goes up.

    Cheers