vix is hardly a good long term indicator going back over the last 5 years sure 18 months ago it hit heavy volatility and the markets crashed but before that if you graph the S and P 500 against vix there is little correlation, for OZ in I would rather keep an eye on the baltic dry index which is still going up.
but pannic if you want, better to just move into ETFs if you want a short cover IMHO.
