It was a wild ride for those trading the 2x lev' bullish VIX instruments of TVIX and UVXY. Breaking new cycle highs on Monday, but then collapsing into late Wed', before recovering into the weekend. Despite the Thur/Friday gains, TVIX/UVXY saw net weekly declines of -14.3% and -14.1% respectively.
*first, an update on the VIX
As for TVIX and UVXY.. it was a wild week indeed, although it certainly will have pleased those who only day trade and never hold overnight.
With the market battling to hold together into year end, the VIX remains high (relative to 2013/14)... with a second consecutive weekly close above the key 20 threshold.
*for the moment, I'm still not inclined to meddle in the VIX, but if equities don't break a new historic high in early 2016... I'll consider a VIX-long in late January.