Do you have a target for the market drop, Wes? Could we see below 1700 on the S&P in a month or 2?
At some point VXX could very well double this year. Been a long time since it was in backwardation for more than a few days, and been a long time since a 10-20% drop in the market. Maybe this week was the start of a big correction.
Don't think anything that happens in the next 2 days can be trusted, the day before and after Thanksgiving.
Don't short until they actually start tapering. Keep buying until then, or you will go broke shorting.
Market is down 2 straight days now. That means tomorrow will be up. In fact, futures should be +10 tonight. That has ALWAYS happened this year when the market is down 2 days in a row. It is illegal for it to be down 3 straight days.
A 2% drop tomorrow? No way. No economic news tomorrow, plus every single company beat earnings today - MSFT, AMZN, ZNGA, DECK, etc.
We always hear this - too many shorts in VXX so it will go up soon, but then it keeps going down.