The TVIX chart has formed a triangle.  The measured target of a triangle breakout is $23.35.  This week watch for a potential breakout of the triangle about February 23rd with&n

The trade this week was not Apple Inc (NASDAQ:AAPL) hitting $500. It's been the iPath S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) and yesterday the fund finished up 5.6%.

Yesterday the Masters sold off their positions and are now sitting in 90% cash, we talked it up in Feels like a Correction is Coming.  The only recommendation we made was the  iPath S&P 500 VIX Short-Term Futures (VXX) which happens to be up 3% today.  The only sure bet for the next few days is volatility.

If I read another 'NBA' article, the new acronym that is making the rounds on the internets (Nothing But Apple) I'm going to shoot myself.  The iPath S&P 500 VIX Short-Term Futures (VXX) is up 7% today.  Mastery is betting we are in for a huge kick to the face.

It was warned last weekend that a new bear market is looming.  Consider this a second warning from the Grim Reaper.

The major indices are down about 1% so far today, as the 2012 bull run has been snapped.

Could it be time for the Negative Nancy index?

Fellow Masters, our stocks may get killed this week if the rating agencies start to thumbs down major EU countries.  They went on record this week that Belgium, Spain, Slovenia, Italy, Ireland and Cyprus could be downgraded in the coming weeks.

Fellow Masters, there is no play until we know the outcome of the EU Summit and that should come Friday (Dec 9th).

Told you so.  What we said on Friday has come true today.

The most important event next week is the deadline the U.S. Congress faces and things could get very rocky if the end result is not good enough for Wall Street.