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To: Mannie who wrote (28909)	8/15/2000 12:34:50 AM
From: RR	Read Replies (1) \| Respond to of 35685

Hi Scott: Good question. The VIX has been one of the best indicators to me. As you know, it measures option pricing and gauges market sentiment. When it is up around 30, it means a possible market bottom. If it is down around 20, like now, it indicates an impending market top. When it gets below 20, it is clearly warning of an over bought and bearish signal based on put/call ratio. You probably read all this stuff on CBOE. Scott, I have seen the statistics that you mentioned. I don't recall ever seeing them on a graph. I may have seen them in one of the option newsletters. Don't recall. But, I do know this..... it is a reasonable indicator and I have seen the correlation between it and market performance. That is why I often reference it as an item I use. Granted there are tons of stuff out there we could use as indicators, but this is one that I have found to be worthwhile for a long time. That is a long answer to your question. Wish I had such a graph to refer to but maybe my observation will add a little. Again, I have seen some statistics of the VIX matched up against some historical market tops and market lows and the correlation is there using those cutoffs 20/30. BTW, even though it is low right now, that has not stopped me from buying in here as you know. Also, it has been in the low 20's for a couple of weeks. Again, I use it as an indicator, not an absolute. RR