COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00150

-28.6%

Dec 11 9:30 AM EST

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To: Janice Shell who wrote (4300)	8/23/1997 10:42:00 AM
From: Jeffery E. Forrest	of 22053

What was that you were saying about the VIX? From Barrons: ++ Watch the VIX. It's been six years since the Chicago Board Options Exchange volatility index closed above 30%, typically a sign of utter panic in the market and often a harbinger of a bottom. The last time it crossed that level was the day before the shooting started in the Gulf War, an event that triggered a tremendous rally in the stock market and led to one of the biggest one-day point gains in the Dow Jones Industrial Average. Lately, the VIX, which measures stock-market volatility based on the price change of at-the-money puts and calls on the S&P 100 index, or OEX, has been threatening to breach the 30% level, and it did so during the day Friday before sinking lower to 26.71 as the market bounced back from its lows. At stages like this, when the world seems to be coming to an end, a strategy to consider is the so-called "buy write," which is selling calls to pocket premium to gain protection for the underlying shares, says Donald Fishback of Fishback Capital Management in Lexington, Ky.

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