It's Also Time to Starting Watching the VIX

When I look at the VIX, I focus on iPath S&P 500 VIX Short Term Futures, which is the double-long ETF combining the front and second month VIX contracts. Before I continue, please understand that this is one of the most heavily manipulated ETFs on the Street, it has significant deterioration as a result, and although this ETF can increase extremely fast, given that deterioration and the fact that the market has moved higher steadily since the beginning of 2013, this has also been a much better play on the short side after spikes like this.