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The question is, "Will we get a truly white knuckle day or days to the upside
first?". A bear market rally that will rip the bears and shorts, give the
bulls their last hope of redemption, and then just fall and keep falling
until you get that white knuckle day on the down side. This scenario has
happened before. I believe that it has a good chance of happening again.
Just watch for the signs, and be nimble. Ira.
candlestyk@xxxxxxx wrote:
> > VIX rose over 36 on Tuesday and the market has barely budged ...
> wonder
> > what it's going to take this time ... 45, 60, 75? Something is very
> > different this time and sentiment indicators which have worked for
> years in
> > bull markets are not working in bear markets.
>
> In the 1998 correction VIX had 20+ readings >40, 7 readings >50,
> high of 60.63. Just last April, a >40 reading. In the 1987 crash I
> have read that there were readings >100.
>
> It seems we still need a true white knuckle day.
>
> Ray F
>
>
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