SPY continues a move northward. VXX is holding her own in spite of the run in the markets. I won't even try to predict if the market will correct soon but I think that a 3 month timeframe on my call option is ample time for it to correct a bit and allow me to come away with a fairly decent profit. Nothing goes straight up... I certainly am not looking for 100% ROM but it would be nice to pick up 20 to 30 percent.
I'm beginning to think that barring a MAJOR event in the world markets, the overall indices will continue to trudge higher in spite of what a lot of contrarians may think. I do think there will be pull backs, but at this point in time, betting on a serious correction might not be the best strategy. Playing the pull backs will be key. On a day that the VIX spikes will be the day I unload and look for another trade. I think that the volatility has to creep back into the markets and that will help VXX.
I still hold fast to my view that the overall economy is a house of cards built on a foundation of sand but since the powers that be think otherwise, I have to play what the market gives me.