As investors regained confidence and ventured back into the global marketplace the fear index took a heavy shot across the bow, ultimately ending the week at November lows.

VXX's 50-day moving average provided little in the way of support as the fund suffered five consecutive days of declines.

iShares Barclays 20+ Year Treasury Bond Fund ( TLT) -1.6%

After a five-day slide, long-term U.S. treasuries managed to regain some traction, closing out the week with solid gains. This upward action was not enough to keep TLT off of this week's losers list, however.

Defensive assets have fallen out of favor over the past week. However, investors should not avoid writing them off entirely. Funds like TLT can help mitigate losses in the event that fear makes a comeback.

Written by Don Dion in Williamstown, Mass.

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At the time of publication, Dion Money Management did not own any of the equities mentioned.

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