Monday 25 February 2013

3pm update - bulls not laughing any more

The opening index levels look a long way up now. It would seem the earlier bullish hysteria was a real failure. The VIX has already broken into the 17s...which is something of a surprise considering we did not yet take out the 1497 low.


sp'daily5



vix'daily3


Summary

The VIX really is something of a surprise today. It seems to have a bit more power than I thought viable.

If sp'1480, then VIX ...20 ?
--

back after the close
--

3.45pm..exited VIX calls..and spy puts.

I'm done.  it remains a nasty market.