VelocityShares Daily 2x VIX ST ETN (TVIX)

[A320CA]

I've built up a 3,800 share position on SPXU at 9.70 cost basis. Down around 7% at this point - getting close to hitting the eject button. Just seems like we're at the top of the trading range on the S&P, but I've been saying that for the past 2 months! Waiting, waiting for 5% correction. Looks like we are consolidating again - creating another base - which could be another leg up. At that point I'll have to eat the loss.

We need a jobs report to the negative, a report that shows that energy is becoming a drag on the economy, a report that Europe is have a negative effect as they slide into slow, or negative growth, etc....any of these will do.

Fed-Ex report tomorrow - if it's good, another leg up I'm afraid. Don't get me wrong, I'd like to see things get better - I've just been on the other side of the bet for a while now. Getting a bit old. When I bail out of these - SPXU, SQQQ, TYP - the market will go down!