at least, it's going sideways, because vix future prices are very low right now.
just one small sell off, you will see VXX at 19 or over.
and, even without sell off, vxx will stay above 18 for awhile at least for 2 wks
you can never really be long with VXX, but shorting it is very dangerous at this stage.
VIX is at 13 in May...
i think VIX will spike or keep rising.
if that happens, VXX may not go up much, but will be enough to make shorts lose money.
i think the best way to play VXX is sell credit put spread
i am doing it now, and i can smell money already
that scared me a bit, but then i realized those people are not crazy who bought bunch of physical gold.
gold at 1400 has a very strong support.
i think it should be re-bought, not re-short