Closing VXX July $22 Puts, Leaving UVXY Equity Short open

This is more about short term expectations, the short term intraday charts for the SPY, DIA and IWM all still suggest what I talked about last night, I still think it's short term noise as I tried to illustrate yesterday with the SPX 2008 decline and how the market had almost as many up days as down days in what otherwise at first glance looks like a clear cut, sharp downtrend and it was, it's just there's shakeouts and noise. In a similar way, I'm thinking about the short term in terms of the VXX options because of the nature of options. As far as the more "clear cut trend", this is why I'm leaving the UVXY short equity position open, it won't have the same drawdown and it is more there for the longer trend where as the options are more hit and run as they have been in this market for us recently.

Notice I didn't mention the QQQ with the other 3 above, it looks better, I doubt it bucks the directional trend of the market even intraday, but relative performance can certainly be different and I suspect this is in some part, a reflection of near term AAPL expectations.

Remember as well that Thursday's tend to close pretty close to the Friday Op-Ex max pain pin (yes, even for weekly options).

More on the Q's and AAPL later.