The chart of the day comes courtesy of ETFdaily news. It shows that while the market has been rallying off late and the Vix has been hitting lows near the 13 level, the CSFB fear gauge has surged to a record high. This shows that institutional investors have been buying out of the money put hedges in large amounts and are not believers in this rally:
American Sportsmen Discover New Zealand’s Hunting And Fishing Paradise
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Long before Peter Jackson’s Lord of the Rings trilogy put New Zealand on
everyone’s travel list, hunters and anglers long coveted the island
nation’s riche...
14 minutes ago