Thursday, September 18, 2008

Calling "The Bottom" in Financial

Now is Sep18Th 2008 time 11:58AM - XLF is 17.90 and XHB is 18.10

They call me Mad Russian for a reason.

1P.M. $VIX is at the level not seeing from July 2002-October 2002 period.
The problem is - "period" - $VIX spiked in July 2002 and vacillated in high 40th for almost 4 months. The "bravery" or "stupidity" of "bottom in financials" call should play out by today's close.