Once again the VXX heats up

Panic is in the air, which is gold for the iPath S&P 500 VIX Short Term Futures ETN (NYSE:VXX).  The VXX is up 7.3% as volatility returns to run the market.

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Since April 23rd, the VXX has gained 65% moving from below $20 a share to today's price of $30.44.  The iPath S&P 500 VIX Short Term Futures ETN (NYSE:VXX) is a direct investment in VIX (commonly referred to as spot VIX) . The NYSE:VXX holds VIX futures contracts, which could involve roll costs and exhibit different risk and return characteristics. Investments offering volatility exposure can have various uses within a portfolio including hedging, directional, or arbitrage strategies and are typically short or medium-term in nature.

Today Big Stocks Drop
including GE, Citi, and BP (GE, C, BP) and as they do, you can't count on money being made in the VXX.  

CHARTS FOR THE VXX