VIX has been pussy cat not getting to fearful levels. I can only ascribe it to more outright liquidations of profitable positions as in tech and energy recently vs protecting holdings with long puts. Everyone seems to be raising cash vs trying to catch falling meat cleaver in financials. Job numbers lousy; with very little of a silver lining if you call UI rate of 5.5% a good thing. I can't see how market will hold positive by close.