Volatility is Winning (VXX)
Submitted by Stockmaster3 on Fri, 04/13/2012 - 17:03
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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.
Today's 411 for the market moving down:
Equities have been under pressure since the open as a disappointing Michigan Sentiment reading, and continued worries regarding the health of Spain have weighed. Earnings reports following yesterday's close and prior to today's open have been generally better than expected as Google, JP Morgan Chase, and Wells Fargo have all topped estimates. source: yahoo.com
Again the trade for winning is the VXX.
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