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To: marginmike who wrote (21029)	11/13/2001 4:00:47 PM
From: JRI	Read Replies (2) \| Respond to of 209892

We hit 28.50 VIX today...we are getting there in a hurry.. Agreed that some sideways for a couple/few weeks would be the real way to bring complacency...

To: marginmike who wrote (21029)	11/13/2001 4:02:31 PM
From: Doo	Respond to of 209892

I agree with this, and I think it will take months. The 9/21 low as confirmed by pretty reliable price and volume signals in the face of the most extreme IIA numbers I've ever seen in 6 years of following, not to mention the VIX extreme we saw. But, I don't want to get anybody bullish, or anything. :)

To: marginmike who wrote (21029)	11/13/2001 7:44:30 PM
From: sun-tzu	Respond to of 209892

The VIX frequently drops precipitously on the Monday following an expiration in a significant up month. This is due to short-term put buying used as hedges for long common positions. At this rate, the P/C will likely be closer to .2 by market close next Monday. As for the VIX...still range bound. Shack's target of 1920-1940 looks pretty accurate to these eyes. No, I haven't bought this and I regret missing on profits. However, in the long run, not buying this type of mania is the right thing to do nine times out of ten IMO. I still feel the best profits will be made legging into shorts on this run. Let's see what happens after expiry.