Vixxy Vixxy (VXX)
Besides the usual high volume stocks such as Bank of America (BAC) and Nokia (NOK) is the Path S&P 500 VIX ST Futures ETN (VXX) making the list.
The VXX is already at 15M shares before noon. We have all but forgotten about volatility in the face of the Dow Jones hitting 15K. Stocks can do no wrong and we all need to embrace long positions and not miss out on the gains. Blah, blah, blah. Meanwhile the VXX is getting all kinds of attention today behind the scene. Note that the VXX is less than 2% from its 12 month low, trading today down a smig at $18.38 a share.
Of course the market is charging ahead however the VIX has been dropping while the futures curve has been unfavorable as well. Turns out the VIX futures market currently trades in a condition known as "contango" a situation where contracts further along the futures curve are more expensive than front month contracts.
Fellow Masters, trading the VXX is dangerous but it might be worth a 1 to 2% consideration to hedge any craziness that could hit the market.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Janet Yellen Saves The Day: Stocks Soar After Fed Chairwoman Tells Democrats To BTFD | ZeroHedge
- Drink Up World: The 4 Companies That Control Global Whiskey Production | ZeroHedge
- The Swiss Franc Will Collapse | Financial Sense
- The Most Ridiculous Charts From Facebook's Quarterly Earnings | ZeroHedge
- The Importance of Owning Stocks | Financial Sense
- Wait For It | iBankCoin.com
- The Next War In The Middle East Has Begun And Israel Vows "To Act Powerfully On All Fronts" | ZeroHedge
The most relevant financial news and articles from the Internets
- Crude Oil Is Getting Hammered (USO, OIL) | Business Insider
- Check Out This Futuristic Hospital With... | Business Insider
- Pochettino calls for Spurs killer instinct | Business Insider
- Russia's Gazprom profits slide 61 percent in third... | Business Insider
- E-Commerce Is Finally Disrupting... | Business Insider
- Former Oregon State Student May Spend A Year In Jail... | Business Insider
- Shake Shack IPO Prices Way Higher Than Expected (SHAK) | Business Insider