Agree Pascal -- it is a strange environment.

I am looking @ the vix and cumulative tick and although Billy is more an expert in reading the Cum.Tick, I am surprise how well cum.tick maintained its value during the sell off of early this week.

The Vix spiked hard, but is coming down nicely, which only means some big parties are selling puts, either out of long put inventory or part of new long delta positions.

Ernst