Everything is awesome and volatility-less... VIX has broken back below the crucial 13 level (trading 12.94) as US equities v-shaped-recover from opening weakness leaving The Dow up 450 points (topping 18,000) from the post-payrolls pessimism... as we overheard on CNBC this morning, "the worst earnings season in 6 years is a buying opportunity." It appears 13 is 'cheap' enough to encourage some hedging... Sending stocks soaring...