The TVIX gives you double the movement of the VIX.  We toyed with the VIX a short while ago, took a small loss on it when it didn’t go anywhere and now on a whim are hedging by buying the TVIX.  This may only be for a few days but after being bitten by the gold and silver this week we thought we’d just buy a little insurance.  It just an expense when nothing happens but when you roll your Porsche over it’s nice to have (actually the wife rolled our last Porsche over into her house a few years ago –smart move of her).

In addition to the Chinese water torture of  .20% progress every day for near 40 days there is definitely a rising wedge in the SPX.

Note converging lines.  Now, as Isaiah Berlin noted, the fox knows many things and the Wedgehog knows only one thing.  Actually we don’t remember what it is the Wedgehog knows but it must be important.  The FOX knows many untrue things, except for the sports where lying about the scores can get you shot — or deported back to Australia.

What was it Oscar Wilde  (highly recommended) said about the Fox hunt?  the unspeakable in pursuit of the uneatable?  Count that as one more thing we don’t know.  Or as Rumsfield said…