With equities opening severely lower, the VIX (after almost 30 minutes of radio silence) jumped into the 53s. The 2x lev' bullish VIX instruments of TVIX and UVXY opened higher by around 70%, but settled higher by 36.2% and 35.9% respectively.
*first, a look at the VIX....
Suffice to say... absolutely incredible opening gains in the TVIX/UVXY.. and even VXX... but with the market climbing... there was natural rapid cooling.
Despite losing half of the gains - with black-fail daily candles, TVIX/UVXY look due higher highs, as the VIX looks vulnerable to spiking into the 60s.. even 70s in the immediate term.
Crazy times... it makes 2011 look rather tame.