Excessive Greek Fears Going into Next Weekend's Election (XIV)

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The Greek election is on June 17th, and there is too much fear.  XIV rises as the VIX futures decline, and is a way to position for calming markets. 

The target for XIV just after the election is in the $11 range.  The VIX is too high, and is likely to settle down as European fears ease over the next week.  This weekend there is discussion of bailouts for Spain. 

With the best gain of 2012 last week in the markets, the momentum is up, and XIV is likely to continue higher.