Erase those gains from yesterday and then some, stocks are down again on Friday.  The iPath S&P 500 VIX Short-Term Futures ETN (VXX) is up 3.5% and at $18.96 a share.  We speculated back (Cut and Paste the VXX action) when it hit a 12 month low a few weeks back this was the trend to buy.

Everything is down today, however the two stocks that are trading higher are Apple Inc. (AAPL) and iPath S&P 500 VIX Short Term Futures TM (VXX).  How to recap those losses?  Sell the house and buy shares of Apple and the VXX.

The last week of March included such gems as Teva, General Electric, the VXX, and many more.  Behold the best content of the week and enjoy a cut from THE WALL.

Holy cut and paste Batman, here we go again with the iPath S&P 500 VIX Short-Term Futures ETN (VXX) bounces yet again.  Fellow Masters this happened last week and it rebounded 6% the next

The iPath S&P 500 VIX Short-Term Futures ETN (VXX) hit $15.92 today as the bulls lead the market to a great Monday start.  However its important to note that this happened last week and the VXX bounced back 7% the next day.

The bulls are very much in control of the market, it shows at the iPath S&P 500 VIX Short-Term Futures ETN (VXX) got down to $18.34 today.  Mastery has recommended the VXX in the past but never as a long term trade, its only meant to capture when the markets panic.  There's no sign of panic these days, but is that a good thing?

What's a Covered Call?

The covered call is a strategy where an investor writes a call option contract (sells an option) while at the same time owning an equivalent number of shares of the underlying stock.If this stock is purchased simultaneously with writing the call contract, the strategy is commonly referred to as a buy-write.

While you may have heard that trading options is risky business, covered calls are actually a very conservative strategy, and most brokerages even allow retirement IRA accounts to write covered calls.

We've been pushing a large cash position and suggesting you load up on the iPath S&P 500 VIX Short-Term Futures ETN (VXX). The proof can be read in Where's the Volatility?, U.S. Equities: Not Buying it for a Dollar and Feels like a Correction is Coming.

Highlights of a rather boring trading week included the following:

Volatility has been calm since the Dow Jones crossed 13,000.  Despite the fanfare there is one play that will provide insurance should them market not sustain itself.  The trade is the iPath S&P 500 VIX Short-Term Futures ETN (VXX).