I am not buying it that is for sure but my sniper rifle is set to re-enter a nice 2013 short around the end of January say the 21st to the 31st by the looks of some other things that will coincide with that like Apple and Gold and some other things that are in a downtrend for a little while longer.
Good job longs I hope you become wealthy such that you feel like you have more money to donate to us than you really have. It will be so wonderful.
Bought some this morning at $32.60 to hedge my portfolio going into January (since this is nothing more than a short term instrument) and I'm so glad I did. My holdings overall are down 2.3% overall and my VXX positon is up 4%. Wonderful. :)
If market breaks down into panic mode, VXX can see 50 or 60 easily. But that's only if there is widespread panic in the market and VIX futures go into backwardation... I'm loading up on OTM UVXY calls as insurance, even though my bias is towards shorting VXX and UVXY...
Yes I think $40 would be very probable. Still wouldn't buy it though hehe. The downside risk is always masked by the unknown. And in VXX's case the unknown is "good news" risk which runs historically at a ratio of 6:1 to bad news.
I short a lot of stocks, like APA right now, but I do not wish for destruction and pandemonium!
Good luck with VXX Long though, I will be waiting. ;)