I think the only reason TVIX is up is to suck more people into its black hole. The VIX was up 30 minutes ago about 30 cents and the fund was down 6 cents, now its up 6 cents and the VIX is basically at the same place. I sold 75% of my holdings, but I did not sell all because I still believe in Math and if Math ends up the winner TVIX will go much higher. If its a PS all bets are off.
Look at SPY bro....I think it's a better gauge for direction of TVIX. I have been watching all morning and they are moving inverse to each other...SPY has been on a power trend for quite some time....just like TVIX (downward). SPY is at multi-year high....much bigger drop potential than rally from this price, imho.