Yep, VIX hit a high of 42 today, at 40 right now. One thing to remember though, these VIX readings are all relative. The VIX hit a high of 60 during the Fall 99 market drop.
The vix could just go high and stay that way while the market continues to slide. Of course, a quick spike usually indicates at least a short-term bottom. Hopefully today's action convinced people we are headed lower so we can finally get a break to the upside. This beating is amazing.
