VIX double bottom? Watch the 20 level tomorrow. A break below could signal that the mid month turn date was actually bullish. If that is the case, funds will get performance anxiety and try to play catch up. I think they will be doing a mistake. I find it very, very hard to believe we will cruise through October like last year. I just don't buy it. Declines take longer than a month to play out, last year it was three months (April/July). That we found a bottom after a few weeks of selling is a stretch, to say the least. If 1998 is the model, the first rate cut did not stop the drop to new lows (a reminder for all those ranting out there that a Fed cut signals instant bullishness with no looking back).
This entry was posted
on Tuesday, September 18, 2007 at 9/18/2007 07:44:00 PM.
You can skip to the end and leave a response.
» Post a Comment