The Volatility ETF hits the Reset Button
A bit of nothing up my sleeve work from the from the brain-trust at Proshares. They did a sneaky reverse split on the iPath S&P 500 VIX ST Futures ETN 's (VXX) on Friday.
The reverse stock split turned 4 shares to 1 share of the VXX. Boosting the stock price of the VXX from $8 to $35 overnight. The VXX did have a good today as stocks couldn't make up their mind on which direction or which headline to believe. Volatility was brought back into the forefront with the VXX finished up 4% to close at $35.98.
Should the market continue to flip-flop John Kerry style then the VXX makes for a decent play. However place tight stops if you intend on trading it. Use caution and only apply ample amounts (much like zit cream).
Best of the Blogs
Scanning and identifying the best blog entries every hour
- Southeast Asia’s High Speed Rail Network | Financial Sense
- All Bad at 0%? | Financial Sense
- There Will Be Blood - Part II | ZeroHedge
- Valeant Plunges 10% Amid Exposure Of "Astronomical" Price Increases | ZeroHedge
- MeMoiR OF a KeYNeSiaN BuBBLe MaeSTRO... | ZeroHedge
- October Macro Update: Employment Wasn't Surprisingly Weak | Financial Sense
- How The World Views Obama's "ISIS Strategy" | ZeroHedge
The most relevant financial news and articles from the Internets
- Vinatieri's field goals leads Colts past Jaguars 16... | Business Insider
- Grateful Dead, John Mayer giving away 10K tickets to NY... | Business Insider
- The Latest: Kajita, McDonald awarded Nobel physics prize | Business Insider
- US stocks open higher; energy, GE are among early gainers | Business Insider
- This email rant just cost a male Girls in Tech employee his job | Business Insider
- The 15 most powerful tech companies in America | Business Insider
- Brees' 400th TD pass lifts Saints over Cowboys, 26-20... | Business Insider