Does the trader/investor hide under the bed? That’s not the right approach but neither is the complacency we’ve seen from the VIX. I read the headlines and one of the reasons stated for the buying last Friday is they always buy the dip. They bought the dip again because it has always worked but they are finally in peril of going to the well one too many times. It not only ‘feels’ like that is no longer the right approach, the charts are proving it. I think people who call themselves traders should shorten their time horizons. Obviously, those who can’t maneuver so quickly should think seriously about hedging or even lightening up their long positions.