it was a mistake to buy the tvix a week ago, since it was 1 step forward on monday and 4 steps back tues wed thurs and fri. We knew better, January is a power month for the year. usually.
20-50 point S&P correction will not do a thing to volatility. Unless there is a military strike on Iran or some other sudden event, this decline will not happen overnight or even withing few days. Hence, the volatility will stay low and TVIX will keep going down since we are in a very nice contango.
So there is no reason for TVIX to go up.
Trading TVIX successfully based on guessing or hope rarely works. Right now it not the time to go long TVIX.
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