VIXιμο

In coming weeks, the VIX may prove to be something of a contrarian indicator. As the market stabilizes and puts together a rally that lasts more than a few hours, it may finally embolden some investors to sell short, which could cause the VIX to spike. And yet, the bottom may have already been reached.

http://blogs.wsj.com/marketbeat/2009/03/05/whither-the-vix/