With equities broadly falling into the weekend, the VIX climbed, and that saw the 2x lev' bullish VIX instruments of TVIX and UVXY attain net weekly gains of 7.9% and 9.7% respectively. Near term outlook offers further upside of a further 15/25%.. before renewed cooling into mid May.
*first, an update on the VIX, which saw a net weekly gain of 18.8%.
As for TVIX and UVXY.. yes, its a net weekly gain, but both instruments are still significantly net lower on a monthly basis.
TVIX - March 31st close: 4.39 - 3.82: -13.0%
UVXY - March 31st close: 19.33 - 17.02: -11.9%
As ever.. such instruments suffer from statistical decay (amongst other problems).. and holds lasting beyond a few weeks usually end badly.
*yours truly remains long the VIX - via TVIX, am naturally underwater, seeking an exit in the 4.75/5.25 zone next week.