Earlier today I tweeted that I was buying volatility today in my accounts. One of the securities I added was the
VXX. In looking at the 30 minute chart all I saw was constant selling. However, I did not review the weekly chart and in doing so tonight, I might have made a mistake with my purchase of the
VXX and the
VIX futures contracts I added. The chart below shows a break of support which argues for a sizable fall in
volatility unless this security can reclaim the range. I am doing nothing at this point but this is
definitely a risk to my position.
via StockCharts.com
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