To sell or not to sell VXX, that is the question. I love how it hedges my floundering positions in AAPL (you will buy the new iPhone, grab a new iMac, toss in a new iPod and get your kids one iPad each by summer) and IMAX. Yes, IMAX, which held strong through Thursday's Mister Roboto Ass Kicking, only to give up the sphincter today. Inexplicable. Don't the longs who sold out know that Iron Man will hunt them down with a fuuuurious angerrrr? But my question is about VXX, which is back over 30, which I considered probable going into the close. I could take profits here, but it works so effectively as a hedge on my AAPL and IMAX positions ... it's a mental thing. A little bit of peace of mind being hedged.
So, what to do? This is my plan: Sell half of VXX, then re-enter before the bell at a proper price, or sell the remaining half and go without a hedge over the weekend. Wait to re-enter on Monday in premarket, if at all. Seems sensible enough.
Then again, cashing out of some AAPL and/or IMAX shares to get more evenly hedged with additional shares of VXX (or GLD) wouldn't be horrible, either.
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