Here's Keith McCullough in a note to subscribers this morning.
- VIX – do you sell low then chase higher? Consensus does. Be very careful here b/c volatility (and volume -24% vs. the 1-month avg yesterday) isn’t confirming a bullish “breakout” in SPY, yet. The vol of vol (VIX risk range = 14.62-23.29) is wicked wide and the implied volatility DISCOUNT (vs. 30-day realized) is an eye popping -43% with the Street net LONG SPX Index and Eminis
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