Folks theres alot of people that paid mugh higher prices in the VXX like in the $30 range and holding
still...........Just back the dam truck up and dont bet the farm. VXX could go to $50 via Arpil. Personnally i am happy to see the market correct. Imagine how many newbies are margined out Bank of Ameica Amazon Apple.......they are going to get clipped HARD!
joe--I assume you have looked at the chart on VXX and know how it works. If you're fortunate enough to get a $2 move, take some money off the table. How many times have longs seen a pop in VXX, crowed "This is it. VXX is going to the moon." (paraphrase) Then within days VXX is crashing. There is nothing to suggest this time will be any different.
pun........i have rolled this around several times and make money and got caught short Friday and fortunately shorted the top and got my money back then went super long Friday $24. On the point and figure chart $28.50 is where from a techicians perspective is where i see VXX topping (maybe)
VXX jumps over the 50 day moving average today and i expect arun into the $27 range minumum today with hardly any retraction. simply put this could be the 2nd phase of a run up.........$28.50 which i expect to see is an area to watch. Crossing the 50 day moving average is BULLISH as HELL from a technicans perspective.