Wednesday, October 13, 2010

Barclays Bank PLC IPath S&P 500 VIX Short-Term Futures (Ticker: VXX)

Sold my 4% position in VXX at $14.13 for a realized loss of 21%.

Sold because the outlook for stocks continues to improve. The position was meant to capitalize on a pull-back in the market in October, which I have less confidence in now. Also, structurally the ETF is simply horrible and consistently bleeds value, so I wanted to avoid long-term exposure.

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