Gold and Silver Juniors, Mid-tiers and Producers Message Board

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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: TheSlowLane who wrote (55734)	1/22/2008 11:00:05 AM
From: Mr. Aloha	Read Replies (1) of 78419

A more traditional indicator is pointing to this morning as a selling climax. The VIX spiked up to 37.57, potentially forming a double top with the 37.5 high hit on the August 16 panic day. That spike high was over 10 points higher than Friday's close of 27.18, and way above the upper Bollinger Band under 30: Coming after the huge selloff we've had the last few weeks and the extreme investor pessimism, with Cramer saying the Dow would be down 1000 points and an analyst on CNBC saying no way she'd buy anything--people should short the market here, I think there's a good chance this was the washout the market needed.

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