Don't expect a big jump today. There are a lot of people "WAY" down in this fund so there will be a lot of traders bailing at diffent levels between $3.50 -$4.00. Once it hits 4, it should move faster. Italy will also keep this thing going positive. That is a future issue not in the news yet.
You guys still don't get it... Sad this gets repeated over and over and people continue pouring money into TVIX hoping for all calamity to break out. The only calamity is anyone who is trying to go long TVIX.