Why is the VIX holding steady?

Quote from Wallace:

the vix has some way to go before it tops the oct 1987 h of 170+
but does look like it'll go higher - 120 anyone ?
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Actually, you may want to consider orienting to never seen before values.
 
i remain bearish this market, but unsure as to what evidence there is presently that vix will go higher. yes, it is consolidating, saw a spinning top to-day.

obviously, vix will increase as market tanks...just not sure that charts reflect this, at present:confused:
 
Ummm, because you are comparing apples to oranges! The "old" VIX (circa 1987) is NOT the same measurement of today. The CBOE has a nice FAQ on their website about the differences. IIRC - the "max" from 2000 - 2002" is like 45. The "daily avg." today is well above 60 - BY THE NEW MEASUREMENT. Aside from that, the VIX is kind of BS - it doesn't so much measure volatility as it does options trading in the S&P...which is NOT necessarily "market volatility" as measured by volume or price changes in equites - IMHO.

-gastropod
 
Lots of people are underwriting their positions after this big upmove. That sounds pretty smart. Only fools get burned twice by the same flame.
 
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