As you can see from the CBOE (Chicago Board Options Exchange) website, the VIX (Volatility Index) stayed pretty even at 40 today. Tell me if I’m wrong, but that’s basically the lowest volatility rating we’ve seen since the Lehman Brothers collapse of mid-September. At its highest, the VIX was up to 87 or so.
To put this in perspective, remember that it was always Jim Cramer’s rule of thumb that (among a few other indicators) when the VIX reaches about 40, it’s a sign of a market bottom. Ha ha ha…. he’ll have a different opinion on that now.
That said, it’s still a good sign that volatility has come down to about 50% of what it was during the big October-early November 2008 panic.
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