QuiCQ 07/08/2024
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"Wall Street never changes, the pockets change, the suckers change, the stocks change, but Wall Street never changes, because human nature never changes."
-- Jesse Livermore
The following chart is a reprint from this week’s Quotedian (click here), showing that Monday’s panic spike lifted the CBOE Volatility Index (aka VIX) to a stratospheric 65ish level. That was not far away from the COVID and the Lehman tops in 2000 and 2007 respectively. Two conclusions from that: 1) at least a short-term buying opportunity offered itself and 2) this smells of forced liquidation – wait for the whale(s) to surface belly up.
