The VIX is again spiking. Think of the VIX as a fear gauge. The VIX is essentially a measure of what options investors are willing to pay for protection. When fear is very high they are willing to pay more for protection and this results in a spike in the VIX. Don’t be surprised if we see a repeat of the January, March and July fear levels very soon. Thursday’s 300 point loss may have been that shot across the Dow’s bow….