The VXX and other volatility ETFs continue to distort the market

A short note today . . . .

I live in Austin, Texas and I am a product of the University of Texas. I hold season tickets to the Longhorns Men’s Basketball games and tonight, they play K-State. Gotta go root for my team.  

Today as I told my buddy, normally the SVXY trades twice what the VXX does. But, today, at one point mid-morning the VXX was down 3% and the UVXY was up about 5%. Makes ABSOLUTELY no f**king sense. 

Somehow this is all being worked out but I have to believe it is moving the SPY with it, classic tail wagging dog kind of stuff.  

If you haven’t seen it yet, you should read Howard Lindzon’s post. Read yesterday’s post and then read today’s here. 

I’m still a buyer of this dip in many names. Looks like I may have made some good moves today with TSLA. We will see tomorrow.