Upon further review ...

... MQ would have been better off doing the following today in regard to VXX, a.k.a. the Shitkicker.

• Sell on the retrace back up to 31-plus rather than gloat in the awesomeness of VXX cutting through the tulumtuous Greek sea of crapola.

• Not only observe the intraday (2-day chart) retrace of 50% to the 27.50-27.70ish area; take a moment and freaking re-enter. Each time.

• Ride up on the good ship VXX and sell as proper indicators and common fucking sense dictate. Pocket profits for future purchase of Apple shares at dirt-cheap prices. (Not today, but soon.)

• Sell again with help of indicators and the sense to get the fuck out at the right time, i.e. the very second President Obama speaks to the planet on live TV. That man is more than president. He controls brains of all puny humans.

• Buy back in one last time, well after Mr. Obama concludes his incredible words of persuasion and calmness. (Shouldn't he have some words with the EU and the angry Greeks? Maybe he already has.)

• And, by God, hold this precious hedge through the closing bell without placing a single freaking stop-loss order.

That last thing would've ended this dismal week on a high note. Instead, well ...

With the EU figuring out a decision on the Toga Party Gone Bad bailout after the market closed, things might be looking up on Monday, and I mean looking up for more than 10-minute increments. Of course, the Greeks could look at the $140 million package and spit on it, seeing how much they hate accepting aid from the IMF.

A little more public wrath, a firebomb here and there, and it would be last week all over again in historic Greece. Who knows?

Upon further review, yes, I did a good thing buying VXX. Review again, and it's clear that buying it yesterday after hours was the wrong time. At 27.40, I didn't get the best deal. The best price came in premarket today when VXX zombie-walked below 27.00 for the entire duration.

Will it give me a chance to re-enter at a lower price on Monday? Will I still want it back? Even if they throw parties in London, Berlin and Athens and what's-his-face from that old TV show with the talking car sings live via satellite throughout the E-Union ... but there's this: supposedly the EU is forming a plan that would deal with the debt crises in the PIIGS sooner rather than later.

This would be a bad thing for ETFs that depend on global chaos and fat fingers that lower the S&P exactly to its 50-week moving average. The evidence mounts. I cannot buy VXX again, not today.

At sub-28 on Monday, that's a different story. That's a nice maybe.

,

[Post-mortem: Should note, in VXX 27.40 Thursday, out VXX 28.91 Friday.]