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"Fear isn't here," writes Brendan Conway of the VIX, which is up a "scant" 5% amidst a 2%...
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Friday, June 1, 2012, 1:06 PM ET"Fear isn't here," writes Brendan Conway of the VIX, which is up a "scant" 5% amidst a 2% sell-off in equities. Not only is the index not moving much (it rose 50% on August 8, for instance), but traders say volume today, while brisk, is not particularly strong. VXX +5.9%.
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If there was still a retail investor left the VIX would be bouncing off of all time highs and the paltry -100 or -200 down dow days could easily be multiplied by 4 or 5.
Look at the 10 yr if you want to see fear, probably every sovereign nation is buying it hand over fist.