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Dimitris,
The VIX D_sat has picked some excellent tops (on the ^NDX, for example)
over the past few years (look at 2/Dec/2002 or 29/May/2001) but, like all
indicators it isn't foolproof. See attached chart for 30/Nov/1998.(And if
you don't have data back to that time - I think you should have....)
Steve
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