Stock Attack II - A Complete Analysis Message Board

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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Justa Werkenstiff who wrote (20018)	9/26/2001 9:09:36 AM
From: Paul Shread	Read Replies (4) of 52237

Justa, I can draw a clear trendline on the VIX up until that big gap out above 37.5, so it didn't go vertical until then. I obviously don't know what the VIX is going to do; it's a very imprecise tool. But I do think we have another strong down leg coming in the market, which tells me that the VIX is at least likely to retest that 57 area. Besides, I don't think a few weeks of fear is enough to offset a summer full of giddiness while the market declined. This a long way from over, at least in terms of time, IMO. A lot of indicators are not what they were this time around. I've seen daily ADX readings in the mid-50s on BA and UTX in the last week. It might take readings like that in the VIX and the broad market to actually scare some people. JMHO... Paul

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