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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: TREND1 who wrote (33502)2/26/2002 1:47:51 PM
From: ajtj99  Read Replies (2) of 99280
 
Larry, we only have a short history of the VIX and VXN, but in 1987, the VIX hit that astronomical 172 on Oct. 20 then dropped to 36 and subsequently rose to 50 on the re-test. That's what we need to look for in a successful re-test, IMO.

The spike in the VIX last week was only from 22.14 to 27.45. This does not appear to be the stuff that bottoms are made of. I think we need a VIX spike above 30 to cement a short term bottom.
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