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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (19424)	6/29/2001 4:14:29 PM
From: Kailash	Respond to of 30051

Just catching the end of the market today. The Dow plunged a hundred points in the last hour or less, confirming the down channel, except it wasn't the last hour after all -- is the NYSE closing and the Nasdaq remaining open for another hour? The rumor from CSCO that things were looking better has been officially corrected as false. I'm glad to see Zeev the bull has made money today; turning on a dime is a virtue for a channel trader and I was only jesting, not flaming! But I remain doubtful that this is more than an end-of-quarter rally. With the VNX at a historical low and the Dow giving up the day's gains and more, I don't see this continuing next week. Kailash

To: Justa Werkenstiff who wrote (19424)	6/29/2001 4:34:31 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

The vix measures premium on options (SP 100, I believe), the larger the premium, the greater is the VIX, I read somewhere that the lowest VIX reading was 9. I think that by itself, like any other indicator I know, it is not predictive enough (even the ARMS 10 DMA index going above 1.5 is not as predictive as Hays makes it look like). If I knew of an single index that correlates its current value to future market prices, I would be happy, and not tell anyone (g). Zeev