Faded & Feeling So Jaded: The VXX Market Makers Really Showcased Their Skills Today...

My horse and carriage poofed back into a pumpkin today as the short-sellers scrambled to cover their assets and the conviction bulls faded us amidst Central Bankers' reassurances on 'reasonable interest rates,' sending the SPY back up to close the day at 158.575, after having touched 160.10 briefly and once again closing below the daily 50% Fib level of 158.76.  I knew things weren't good when the GOLs popped over 1% in the European session and even the Tall European Men chimed in.

It's evident that people who bought the run-up to SPY 169.07 are now selling calls, so I'm in an unenviable position for the time being.  The irony is that I was one of the early semi-bears who bought pre SPY 150 puts.  I even made money with one or two issues before the bulls officially became the year's De Facto Kiss the Ground We Walk On Rulers.  

If the Advance / Decline Line is any consolation, there may still be a chance for the market to reach new heights over the next few months before it ultimately corrects further and deeper, but it may be thinking that is as wishful as a fairy tale.  Will I still have a chance to offload the untimely calls I scooped up right before that fateful 22 May 2013?  

Somehow, getting assigned on those UVXY and VXX short puts is becoming a blessing in disguise.  If interest rates really are going up, then there will be no shortage of volatility over the summer.  And it just so happens that the VIX ETFs comprise quite a big part of my portfolio.  

We've all witnessed these things pop over 20% in a day, so once all the ducks get lined up in a row, it'll be duck duck go!


-2.23% SBA
-4.71% Roth IRA

+0.69% DJIA
+0.82% Nasdaq
+0.95% S&P 

+1.31% FTSE
+1.45% Eurofirst
-0.72% Nikkei
-0.19% Shanghai
+0.48% SENSEX
+0.21% Hang Seng

+0.04% WTI
+0.02% Brent
-0.05% Gold
+1.19% Copper
+0.73% Corn

+1.85% DJT
-8.16% VIX

+1.61% 10-Year US Treasury Notes