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iPATH S&P 500 VIX Short-Term Futures ETN Rises 6.17% on Heavy Volume: Watch For Potential Pullback
Jan 30, 2013 (SmarTrend(R) News Watch via COMTEX) --
iPATH S&P 500 VIX Short-Term Futures ETN (NYSE:VXX) traded in a range yesterday that spanned from a low of $23.11 to a high of $24.33. Yesterday, the shares gained 6.2%, which took the trading range above the 3-day high of $24.08 on volume of 40.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that its subscribers protect gains by selling shares of iPATH S&P 500 VIX Short-Term Futures ETN on January 2nd, 2013 by issuing a Downtrend alert when the shares were trading at $28.79. Since that call, shares of iPATH S&P 500 VIX Short-Term Futures ETN have fallen 20.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
In the past 52 weeks, shares of iPATH S&P 500 VIX Short-Term Futures ETN have traded between a low of $22.45 and a high of $117.84 and are now at $24.29, which is 8% above that low price. The 200-day and 50-day moving averages have moved 1.72% lower and 2.45% lower over the past week, respectively.
Write to Chip Brian at cbrian@mysmartrend.com
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