An Easing of the FEAR Index with VIX

Wheee! 130 point run up at the start, all on the Chinese devaluation. Everything will be "fair" now :) Done before the G20 meeting, this allowed an early upside to 10,634, very close to a Dow top. A few traders had not followed rules and kept some of the July 500 Call over the weekend and were rewarded to sales of 16.60.

So, what we are saying is: The market hit theoretical highs of 10,634 by 10 a.m, and lows of 10,410 by 1 p.m., showing massive volatility. And by 3.30 p.m. had turned and hit theoretical Dow lows taking us right back to Dow 10,350.

There has been an easing of the FEAR index with VIX; this means outperforming stocks will break away and have the chance for break out, or to be judged as a stock itself, not part of the "slide" in general.
We now approach a Fib top at 10,746 and a very nervous world about G20, the yuan, the Euro, Gold falling (as we predicted-but perhaps just short term)

"You can have anything you want if you will give up the belief that you can't have it." Dr. Robert Anthony

Analysis of Logic: The very thought that BP should cancel the dividend on its common stock, or put all that money into a fund administered by the government, is truly Floydian comical.

About 39% of BP shares are owned by U.S. Citizens through individual accounts, mutual fund companies and pension plans, and of course the huge amount of Brits that have this in their pension plans.

Grandma will not be getting her quarterly dividends, and we've robbed the shareholders of the company also. Not bad management alone, but simple lack of regulation. The Bush Administration took all those "silly rules" out as they lowered the chances for fast oil exploration, to help pay many cronies off.

As Obama is now criticized for "too late, or not enough sympathy," make logical note that this was not a predicted force of weather, but a man made ongoing catastrophe.