After a very promising eight days, the 2x leveraged (bullish) VIX instruments of TVIX and UVXY were again feeling the pain today. With declines of 10-15%, the closing action bodes for further pain this Friday.
With the VIX closing lower by around 10%, both the 2x VIX instruments closed significantly lower. Again, it remains the case that those playing these casino-esque derivatives, should be using at least some level of stop.
The daily candle looks bad, and it ruins what was a very reasonable bull flag.
*it remains surprising TVIX has not yet seen a 1 for 20 reverse split to kick the price back.upward.