Yes TVIX is a wild and crazy market to trade that will either wipe you out or make you a bundle. And like all these double ETFs and ETNs they are for short term trading only and you never ever hold onto them for long as they do tend to erode regardless. As you can see here is a chart of the Double Bear ETF:SDS with the TVIX overlaid. The TVIX does tend to track the bear ETFs or opposite the SPX. But it doesn't do it consistently or evenly. It would be easier and safer to buy the single short SPX with ETF:SH or the double short SPX ETF:SDS or the triple short SPX with ETF:SPXU than buy the TVIX but without the high beta and also without the volatility the TVIX has. Take your pick "IF" you believe the market is going to sell off. The Triple Bear ETF:SPXU does have the biggest bang amongst the SPX trades of course. And it is not as volatile as the TVIX. Just because the SPX sells off does not mean the Volatility Indexes will rise dramatically. But the bear SPX ETFs will rise and fall with the market moreso.

See the link bottom left of this post regarding an Ebook on technicals that is simple and worth the read and dirt cheap at less than $8.00. Download it and read it all. On ebooks I usually download them and then send the file to the local stationary store and have them make a hard copy for me on full size paper for an easy read and have them cover front and back with clear plastic covers. Nice to have around and you can review it easy or lend it to someone who is interested. Usually costs about $10 to $18 which is also dirt cheap for what you get.