Wonky Tonk Vixen I always defer to Contra as the guy is a genius, and I agree with his mention of VIX reversal when VIX diverges from S&P typical 4:1 inverse relationship. I've also found that VIX can tend to react late to S&P swings, (IE the recent large S&P upswing can cause a larger inverse VIX blowoff AFTER the move instead of during the move). Would love to know more about the Bankster theory as I don't have any high tech data feeds at my disposal.
What really interested me is how HVU held its ground against rather steep contango (~6.42%) as Horizon's rolls into April contracts (VIX -4%+ but HVU only -6.6%). When VIX ETF's don't die, it's a longer term period of market carnage IMO. And why wouldn't it be when Janet thinks she can raise rates. Geronimo!