On Thursday morning I dumped my VXX stake -- the iPath S&P 500 Short-Term Futures ETN.
I bought a small position in it on April 15 for $27.57. My exit price was $38.30, for a gain of more than 38.9%. Not bad for four months.
This was the only time I've ever toyed with anything like the VXX. Normally I just invest in what I believe to be good companies at good prices, or just sit on the sidelines in cash. But there were a lot of volatile things going on in the world and the economy, yet the market was acting as though volatility was nothing to worry about.
Hence, I went "long" volatility (or a hunch we'd be getting some) and decided to buy a small holding in the VXX.
Lastly, apologies for not posting this Thursday evening. I try to let any readers know my moves in a timely fashion, but I've been swamped recently with non-blogging projects and haven't even logged in to this blog for a while. I know several people have left comments and I haven't responded yet. I'm not happy with that and will try to do better in the future.