The VXX ????

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The VXX ???? drew37 7/9/12 3:15 PM
It amazes me how the whole market gets hammered  and the VXX gets up to 14.50 today at a high early this morning then the market rallys but still closes in the red and the vxx closes at 14.14 down  -.11 cents for the day. The thing moves faster down then up. I know the vxx is basically the inverse of the S&P for the most part. And the vxx is the future short term contracts but how does it end up in the red when the S&P closed -2.22 points? Am I missing something here? the volume of trading is sick as today 28,000,000. shares were traded and the volume has been consistent.  What is the best way to get an accurate understanding of the vxx volatility as the volatility in the market is present and thats what the vxx was designed for as safe havens for the invester being bearish. As were still in a bearish market as low unemployment, slowing economy, Alcoa, Europe (Euro),, Visa, Inflation and China who is the Falling giant? China was Europe's number 1 importer with the US 2nd? Can anyone shed some light on how this VXX works?  Its designed for this exact situation were presently in! Or is it?