UVXY and UVIX, these two volatility ETFs today are really impressive, directly waking up those pretending to sleep with a big bullish candlestick. I always thought VIX and the like were just hedging tools, but when the market shows the slightest sign of trouble, they run faster than anyone. Honestly, every time the broader market strengthens, I look down on them as they decline slowly, but now when encountering some turbulence, I suddenly realize I don't hold any and start doubting myself. Indeed, the market always makes you lose on both ends: not being on board when it rises, and not running fast enough when it falls. Keep some cash and pay more attention to turning points.