In early going today XIV did take a hit but then slowly worked into a modest green position by the close and M3 currently signals XIV as a vested position.
That being said, volume remains well below "normal" levels and we are now in serious overbought territory. This observation in not unique and more and more blog traffic favors the short side......which means absolutely nothing in terms of forecasting what the markets will do next.
For my own accounts I'm scaling back Longs and adopting a more defensive policy for the time being.
