The fear trade feels more like a pit bull trade today.
You know the scene, you have seen it in a thousand movies, its charging right at you, a great big rabid guard dog. The only hope you have is that the chain pulls tight before you get hit.
Thats how it feels to be stood in front of the VIX Index today, its charging ahead gathering speed, up 35% in eight hours of one way trade.
Last week the chain pulled tight at 48, in the crash of 2008 it ran all the way to 80.
Long XIV (inverse volatility) and praying for a short rope.