Imo we go down more in slow grinding fashion once volatility subsides- easy to say today : ). Mo Mo stocks AAPL AMZN BIDU haven’t broken recent lows and VIX at really incredible levels (40’s) make me want to think we are near bottom but for the masses late 08/early 09 is still too fresh in their minds and I fear it is them that will force mutual funds to liquidate and overshoot the downside. During that end of days period of late 08 the VIX was in the 70’s, so will we feel like the end of the world is near again?
