Kass: Nix the VXX
I have received a number of inquiries from subscribers on whether iPath S&P 500 VIX Short-Term Futures ETN (VXX) should be purchased given the complacency that exists today.
My answer is no. I would rather be short SPDR S&P 500 ETF Trust (SPY) -- in fact, I currently am -- and what follows is my explanation.
Below is a VXX chart.
This column originally appeared on Real Money Pro at 10:14 a.m. EDT on Oct. 30.
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