[the invisib1e hand]

Apologies for appearing rude, but you haven't done your homework on the VIX. To wit: it hasn't been in existence for 50 years and it did not peak recently. Oh, and VIX 70 is not "incredible." Unless you're under 30 and you don't know how to download historical data.

Peace.

[WOSG]

When I said VIX has peaked recently, I meant the peak in late november (nov 18-20) that coincided with the low, VIX went ballistic in mid-Oct then again in November:

http://finance.yahoo.com/echarts?s=%5EVIX#chart6:symbol=^vix;range=3m;indicator=volume;charttype=ohlc;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

VIX above 70 like happened in recent months hasnt happened since at least the crash of 1987. Very unusual and a sign of a significant market panic:

http://finance.yahoo.com/echarts?s=%5EVIX#chart5:symbol=^vix;range=my;indicator=volume;charttype=ohlc;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

VIX under 40 indicates the panic phase is over.

Yes, I’ve done my homework. I was shorting puts at those levels, selling the volatilitiy. Will continue to do so on selected stocks as the market bottoming continues.

Arrogance doesnt become you.