. >> thank you, bob pisani bob pisani over at the nyse. >>> if you are worried about more selling, whatu do mike is at the plasma. briefly how do you determine the spike in the vix >> there are a couple things going on when you see a spike in theics have. it isn't really a huge spike when you look at how the market has behaved over 30 days with the vix at approximately this level, the absolute worst 30-day period you have seen since january 30, 1990, it's down 3% that's a sharp peak to trough. we have already seen a line of that decline already even in the worst case we are not seeing the absolute bottom falling out. the other point, the market is still higher when you are looking to hedge your portfolio there is in fact still time to do that. the first thing you need to do of course is find a portfolio proxy. look for an etf that looks like your portfolio then think about am i preparing for a dip or an outright crash and when the prices are high eer, think about using spread. let's look at what the vix has done you can see it has risen quite sharply. as i pointed out we aren't quite at