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To: Poet who wrote (841)	4/25/2001 11:44:21 AM
From: byhiselo	Respond to of 209892

yes, the high readings on the VXN has me vexed at this point, from realmoney.com yesterday: Jay Shartsis VXN 4/24/01 2:41 PM ET There is some discussion of the VXN (VIX for the Nasdaq), specifically about the meaning of the quite high readings today above .80. These kinds of numbers are to be expected in sharp selloffs. Since Nasdaq is only down one day off a big run-up, why such a normally fear-driven figure? Big VXN or VIX numbers are seen at market lows. The face value interpretation is that there are put buyers now driving up the VXN, but it seems so out of line at 80.26 that I might consider it due to smart money front-running Nasdaq 100 (NDX) puts in advance of a sharp selloff. These numbers are so strange that this might be the preferred explanation, which would be bearish.