Option Investor
Market Updates

Markets higher and so is my angst

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I'm still frantically working to get my charts up, but with no luck. Days like this make me want to short every networking stock I can get my hands on. The markets are off of their highs, but the Dow is still up 82.94 and the Nasdaq is up 18.20.

Market Volatility Index Daily Chart

Of the limited data I have access to, I notice the VIX refuses to budge. With the markets moving higher the VIX still sits at 36.40. This is telling me that bears aren't being shaken out of their positions. As stocks continue to rise towards resistance, some good short plays could be setting up. I'm developing a newfound respect for technical pioneers who had to chart by hand.

Jeffrey Canavan
Assistant Anaylst

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