Quote from chasinfla:
The panic which infused the options market resulted in the VIX spiking up to 17.73, its highest value since August 13, 2004. In past issues we have shown the VIX compared to its 50 day simple moving average, along with volatility bands set one 50 day standard deviation on either side of the moving average. Our page 1 indicator just meaures how far the VIX is away from that moving average, measured in units of those standard deviations. Friday's closing reading was -4.12, which is the most extreme value we have seen since September 17, 2001, the first trading day after the 9/11 attacks. Prior to that, we have to go all the way back to the mini-crash of of October 1997 to find a similar reading. This is the sort of category that this sell-off falls into." McClellan Report, April 15, 2005
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Fahgawdsakes, Vehn, we're traders, not english majors! is there a picture that goes along with all this chatter?!