RE:RE:RE:no movement We need violent VIX spikes to eat up the contango. This is already occurring this morning as contango has gone from 11.22% yesterday to 8.79% at this moment. Quick spikes drive up front month futures faster than back month futures and thus eats up the contango. You'll see a nice open on HVU this morning.
Only question is, we're at the bottom of the small term S&P trend. If S&P bounces, contango and HVU go right back to where they were, poss even lower. We want a convincing break below S&P 2040. GL