http://www.gold-eagle.com/gold_digest_08/hamilton081211.html
"Prior to today's ninth major selloff of this cyclical stock bull, the average VXO peak within a couple trading days of the SPX's bottoms was 28.3. With the exception of the only other full-blown correction last summer, this level of fear was sufficient to temporarily bleed off greed and rebalance sentiment. But this week on Monday's brutal 6.7% SPX plunge, its biggest down day since December 2008 in the heart of the stock panic, the definitive VXO fear gauge skyrocketed 50% higher to close at 49.4!
The more extreme fear gets, the more compelling the buy signal. After every other pullback and correction of this entire bull, the SPX rallied sharply as you can see in this chart. And all of these other fear spikes except the other correction's were relatively minor. A 28ish VXO is nothing compared to a 50ish one, the fear isn't even in the same league. A 50ish VXO is inarguably, absolutely extreme fear!"
此文值得读3遍，Adam Hamilton的其他文章有时间时候我也会多读读。
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发表于 2011-8-8 08:00
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