1pm update - VIX in holiday melt mode

With very light holiday trading, the VIX is merely melting lower... now in the upper 11s... the lowest level since the Alibaba top of Sept'19. Single digit VIX looks probable at some point next year... as Mr Market continues to remain almost entirely fearless.


VIX'daily3

Summary

*It has to be assumed, if broad equity strength across 2015.. then VIX in the single digits looks probable.. at least from time to time.
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Notable severe collapse in the oil/gas drillers.

SDRL -22%
RIG -7%

...both look set for much lower levels.. not least if Oil continues to slip to the low $60s next spring.