Both are excellent points Eric. Incidentally, I was buying a little also.(not big at all). I pay attention to the VIX mostly especially when it disagrees with the numbers. I think we shall see one very volatile day, yet, but otherwise the volatility will lessen, albeit slowly. In my opinion we are within 10% of the bottom. Maybe 5%. If we drop another 5% or if we see a huge down day with appropriate lopsided number of lows and volume, I will be adding long positions. Currently I am holding 10% cash.
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