Loading ...I Smell a Rat…
One of the reasons I took profits on my Stock Market shorts today was the divergence I was seeing in the VIX, or fear index. With stocks continuing to sell off hard today the UVXY (VIX ETF) that I had Calls on was moving lower even as stocks were weak all day.
Now in the aftermarket, UVXY is up 10%. Hmmmm…
I (only) once dabbled in TVIX and when the surest bet was that of a market selloff – sure enough it happened however TVIX blew up in everyone’s face – I’d get better odds at a casino.
SPY is down 0.43% so it’s not impossible for UVXY to be up 10% after hours.
If you missed my previous reply I think $VIX and the long vol ETFs were both being sat on by the PPT today.