Thought this quote from an article by David Varadi might apply:

"If performance is unduly influenced by the long-term trend then it is possible that it does not in fact provide a significant trading edge."

The downtrend in VXX has been very trade-able for a few years. But I can't help wondering why Trading Markets are discounting the manual NOW and have not published any recent results. Could it be the mega down trend has just about run its course? Take a look at a monthly VXX chart from 2009 to date,...