With equities seeing a fair amount of chop, market volatility began to pick up, and that saw the 2x lev' bullish VIX instruments of TVIX and UVXY manage net weekly gains of 5.3% and 5.5% respectively. Broadly though, the market looks comfortable into mid/late September, and the decay looks set to resume.
First, an update on the VIX, which saw a net weekly gain of 20.4%.
As for TVIX and UVXY....
So.. a moderate net weekly gain, after 8 straight weeks of horror.
A sporadic weekly gain is to be expected.
As ever... mid/long term holds simply never end well, due to the statistical decay factor.
yours truly has zero interest in being long the VIX, as equities still look set for the sp'2200s into September, and that will result in the VIX 11/10s... perhaps even single digit VIX - something not seen since Feb'2007.