A four (going on 5) day wipe out in the VIX (VXX -2.1%) erases nearly the entirety of its...

|By:, SA News Editor

A four (going on 5) day wipe out in the VIX (VXX -2.1%) erases nearly the entirety of its 10-week advance, as the lack of disaster this weekend in Greece is enough - for now - to allow markets to move on. Also hurting VXX returns is a volatility market in contango, forcing losses on holders as futures contracts get rolled every 3 months.