Hagin Fund Manager Says Volatility Spike Not Start of Big Correction

The spike in volatility is not the start of a major correction because the economy is in good shape, said Patrick Morris, portfolio manager for the Hagin Keystone Market Neutral Fund. Morris said the VIX will remain historically low, nevertheless, he said spikes like the one seen today in the so-called "fear index" will be more frequent in coming months. He advised worried investors to seek protection in high quality, market neutral funds like his own. Finally, Morris said oil at $100 a barrel is good for energy producers, but will hurt the economy - and energy stocks - if it moves too much higher.