Just my opinion here but you are playing with a highly risky instrument. It's an ETN (note) with no real underlying instrument. Also you are taking a longer term position when etn's are designed for day trading and not recommended for overnight trades.
On a positive note excellent nickname you have
Peter
Thanks I thought Mr. Crabs was pretty excellent too

. As for the TVIX I think the reward potential makes it well worth the risk, I will be anticipating to be in mod-term at longest, probably day-trading or at least short-term trading most of my stake in it. If their is a real panic and deep correction in the macro-end of the market we could see the TVIX shoot up 1000%+, I won't be missing out on those gains.
Considering that the FED / world has increased the money supply substantially since the recession ENORMOUS volatility in the markets could be expected at the first sign of weakness the power players can take advantage of - people will sell into fear and the effect will be reminiscent of falling dominoes. This would make the TVIX a relatively good bet, especially compared to short-selling the market as a day trader, that should work well too :whistling.
And yes, for the record, I am a high risk player.