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To: TheSlowLane who wrote (55734)1/22/2008 8:58:54 AM
From: TheBusDriver  Respond to of 78419
 
LOL! I hear ya....mine told me I would never make a cent of these stocks...I was a loser.....she did pack her suitcase.....I look forward to flashing the cash in her presence one day soon.....



To: TheSlowLane who wrote (55734)1/22/2008 11:00:05 AM
From: Mr. Aloha  Read Replies (1) | Respond to of 78419
 
A more traditional indicator is pointing to this morning as a selling climax.

The VIX spiked up to 37.57, potentially forming a double top with the 37.5 high hit on the August 16 panic day. That spike high was over 10 points higher than Friday's close of 27.18, and way above the upper Bollinger Band under 30:



Coming after the huge selloff we've had the last few weeks and the extreme investor pessimism, with Cramer saying the Dow would be down 1000 points and an analyst on CNBC saying no way she'd buy anything--people should short the market here, I think there's a good chance this was the washout the market needed.