Zeev's Turnips Patch-No Politics (ZEEV)

[The Freep]

George -- isn't it possible the VIX is also saying that we're "not out of the woods yet"?

If I look at the VIX chart like a stock, I note that it's gotten support from the 50 dma (closing just below today). It's got a gap above it that might want to get filled (and FWIW) in my cursory glance at the VIX chart, I can't find any unfilled gaps for the last handful of months at least).

I am not exceedingly bearish here either, though I'm positioned short again. I do agree that the VIX has gone lower in the past, but I'm not sure yet whether the fact that it isn't doing so is bullish ("no one believes this rally! wall of worry to climb!) or bearish ("smart money buying puts like there's no tomorrow").

the freep