Replies to post #36641 on Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

George, I am not saying we collapse here, I have two, maybe three days of a mild relapse, nothing serious, probably no worse that 1222.22.

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

[plexus]

George the internals are explosive here...consider that the latest sentiment reading of Investors Intelligence were 28% bulls and 43% bears....I cant remember a reading that bullish in years. Also I like the fact that the P/C surges EVERY time we dip...this a.m. it surged to 1.40...and the VIX is still 40 very bullish. I say we have MUCH higher to go in the near term....