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To: Gottfried who wrote (6483)	7/24/2003 6:35:02 PM
From: Return to Sender	Respond to of 13403

OT: I guess the real issue is does the VIX rise from here and bring about a corresponding fall in the market or not? geocities.com I think we can both agree that this is something that has happened numerous times during the last three years while interest rates were low and falling. That does not mean it will happen this time. It only means that it could. Interest rates are probably nothing more than a minor contributing factor imho. The VIX is a measure of fear that has some predictative value when it reaches extremes. The last three years a reading below 20 has been an extremely low reading. Will it be a low reading this time? I can't tell you for certain. I can only tell you that I am concerned that it may be an extreme reading when coupled with the high levels of bullish sentiment at these current valuation levels. I am not alone in pointing out the potential reversal in the VIX: stocks.internetnews.com RtS