TVIX, UVXY - another cycle of horror

With equities failing to stop climbing, the VIX has continued to melt lower. The 2x bullish VIX instruments of TVIX and UVXY are being ground into dust, falling another 6% today. In the past seven trading days, both have lost around 25%.


TVIX ,daily

UVXY, daily

Summary

First an update on the weekly VIX chart...

It is pathetically lame that the bears 'struggled' just to hit VIX 17s last week. Now we're already back into the 13s, and 12s look likely..whether tomorrow..or early next week.

For the TVIX/UVXY holders, the 'big money' long-stops would surely have already been triggered.

*I myself closed a VIX-long position today, with VIX in the low 14s. Considering the price action in equities, I can no longer see a VIX in the upper teens for some weeks...perhaps months.
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If the main equity market does continue battling higher - even if 'just' for 4-6 weeks, then TVIX/UVXY will likely decay a further 15/20%..perhaps even more.

As ever....good trading stops are essential, not least for the leveraged instruments.