imo, VIX is a good indicator of when instituion is starting to get 'scared' by the overall market valuation. When VIX was abnormally low, institutions were basically doing no-hedge-blind-hold strategy because it incurs least cost and it had been working.
And it looks like VIX is getting there. And someone will start the second-guessing music chair game.
6:20 pm Shake Shack prices 4 mln share secondary offering of common stock at $60 per share (SHAK) : Co announces the pricing of a secondary offering of 4,000,000 shares of its Class A common stock by certain of the Company's stockholders at a price of $60.00 per share. All of the shares in the offering were offered by the Selling Stockholders and the Company will not receive any proceeds from the sale of these shares by the Selling Stockholders. J.P. Morgan Securities LLC is acting as sole lead book-running manager in the offering.
After being brainwashed by the industry and the media about how 'cheap' expensive stocks are.. people holding bags will start wonder why their beloved stocks are dropping.
The trailing 12 month PE of S&P 500 is around 22.
The earnings and revenue of S&P 500 companies have been having negative growth for more than 2 quarters.
Since 2nd half of 2013, all profits from S&P 500 companies have gone into dividends and share buybacks.
S&P 500 companies won't make $100 in Year 2015.
All these are in the spreadsheets available from the official S&P website!