The VIX Matters. Volatility Matters. Just ask CNBC.

Welcome to the end of the week that was. My apologies for not updating the spam portfolio in a timely matter, but it has been an extremely busy week for me at work. Especially tiring after a weekend in Vegas, but I honestly have no complaints. Sure, I'm upset I missed the greatest short opportunity in years. I went big on a 2x short Nasdaq 100 bet via RYVNX (an open end mutual fund, excluded from my trading restrictions) on February 15 and closed on the 20th; what can I say, timing is still a problem. But I was 45% cash when the storm hit Tuesday, and I'm still patting myself on the back for that one. Good job, Rookie.

I'm genuinely amused by the shift in attitude toward the VIX since Tuesday. I'm referring to the Talking Heads on CNBC, and how they can't get enough vol talk now. VIX this, VIX that, VIX is the most important gauge of the day, blah blah blah. Are these the same people who wouldn't have any mention of it just a week ago? As I said in an earlier post, I was beginning to wonder if what was considered acceptable volatility had moved to the downside. Apparently, it's not so. Like Ice Cube said, "Back to the mutha f'in basics."

I don't think the bleeding is finished... I could see another 2-3% trimmed from the US markets. Put that on the permanent record. In the meantime, enjoy this video, found on Crossing Wall Street with the help of Mr. Altucher. Confusion and exhilaration - what's not to love?