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Politics : High Tolerance Plasticity
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To: jim_p who wrote (17012)10/7/2002 9:53:51 AM
From: kodiak_bull  Read Replies (3) of 23153
 
Jim:

Is there a link for "Chip" so we could look at his annotated charts. I'd be interested.

I think he's right about having to get used to higher VIX signals if we want to see the right sign, something I've been saying for a while now. VIX always gives the right signal, you should buy when it's high, you should go when it's low. The art is ALWAYS in determining what is "high" and what is "low."

As for his <<We could very easily see high VIX readings for the next several months as the bear market continues>> again, it all depends on what "high" is. Actually, by the VIX's very nature it can't be "high" for several months--it will simply be making a base camp at a higher level. When the VIX does finally get high, it will be time to buy. For now I'll stick with my daily close in the mid 60s with intraday spikes into the mid 70s or so, looking for a double spike formation.

Finally, Chip wrote <<the VIX was introduced in 1993 and so we're unable to compare its current readings with readings from prior market bottoms.>>

I know I've seen charts on the VIX going back to 1987, because the VIX spiked to about 187 then. MRCI had a chart (and sent it to me). But that may be a chart created with historical data and simply backdated.

Kb
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