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:
Essex Financial Services Inc. Purchases New Holdings in American
International Group, Inc. (NYSE:AIG)
-
Essex Financial Services Inc. purchased a new stake in American
International Group, Inc. (NYSE:AIG – Free Report) during the fourth
quarter, according to ...
50 minutes ago