Piffer OT - And Other Assorted Nuts Message Board

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Strategies & Market Trends : Piffer OT - And Other Assorted Nuts

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To: Lizzie Tudor who wrote (48020)	8/6/2000 11:06:57 PM
From: Jorj X Mckie	Read Replies (1) of 63513

Hi Lizzie, The VIX is the "Volatility Index" and it measures the premiums on options. I just looked at the VIX P&F chart and it actually gave a sell signal, which would be bullish for stocks AND NOT what I said earlier. It is not an absolute indicator, just a general tone of the market. Low numbers indicate complacency, high numbers indicate fear. On the first day in April, the VIX was around 25, it subsequently went to a level of 42ish. Right now it is at 21.54. This indicates a fair amount of complacency. Though these are low levels, the P&F chart for the VIX isn't indicating a meltdown as it has for each of the meltdowns in the past autumns (99, 98, 97). I should point out that I am by no means an expert on the VIX and have only put the pieces together from stuff I have heard on SI. However, the P&F chart read is solid. Before each of the past corrections, the chart has given a signal. JXM

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