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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: Crimson Ghost who wrote (38448)	1/28/2000 7:28:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

George, agreed, VIX readings of 30 have been generally good entry points for playing bounces for the last 18 months or so. i see no reason that this time should be different...however, i would argue that the VIX can not be viewed in isolation. after all, it is an expression of likely volatility going forward, not only fear. calls and puts are used in it's calculation. i haven't yet looked at other technical data today, but if the spike in the VIX was accompanied by high p/c ratio readings we're probably due for a bounce. value stocks are so beaten down already, that they present a much more acceptable risk than the high flyers imo. whatever shows good relative strength during declines should be bought for the next rally...

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