VIX holds market up …
Tomorrow on the OPEN of the US market, the VIX will expire …
and this might be the key to understand the recent rallye.
Or maybe better … the end of the recent rallye.
During the strong downmove into march, most investors were stunned, that the VIX (the measure of volatility) did not spike at all.
This was commented as to be no panic in the market, complacency.
Now the interesting stuff 
During the big bear market rallye EVEN MORE people were stunned, why the VIX did not fall 
Since January a new product is trading, the VXX (a short term VIX).
The VIXX now had new RECORD VOLUME over the last sessions.
So to me that sounds like a new way of our beloved PPT to hold the markets up in difficult times.
Is it coincidence, that we have every day this week hearings with new ideas to solve the crisis, the FOMC meeting and as well funny rumours as that the Government may go hostile in permitting lending in “its stocks” (AIG, C, FNM, FRE)???
Anyway, tomorrow might be quite interesting as the VIX expires.
And yes, I will SELL again … did that every day and made money due to strong money management.
Tags: expiration, PPT, VIX, VIXX
