TVIX, daily
TVIX holders have had such a terrible time since last Octobers market index low, losing around 95% - although of course, how many were holding during all that time? Is a short term low in for TVIX, or is it about to break sub $5 in May? Today was a very mixed trading day, but for the moment, the indicators are still saying UP.
VIX, rainbow, daily
The VIX today was tantalisingly close to breaking the recent high of 21.00..but no, at least not yet. VIX remains in a bullish near term cycle though, and remains above the 10 SMA and 10 EMA (I use EMAs on the rainbow charts). Arguably a break over 21...would lead to a quick move to 24...which would likely equate to sp'1340.
So what do they do?
TVIX holders should surely at least have a stop in the 7s, if not $8.00 level, especially those lucky/high risk buyers from the 5s. TVIX remains a broken ETN, suffers from severe statistical decay....and in my view...is best left alone, permanently!
