TVIX (2x VIX Short-Term Futures ETN) offers an objective, albeit somewhat aggressive, entry & will be added as an Active Long Swing Trade around current levels. The current price targets are T1 at 24.72, T2 at 33.75 and T3 at 42.72 with the potential for a 3rd price target to be added around the 61 level, depending on how the charts develop going forward.
Those only targeting T1, a likely target if we just get a relatively minor overbought pullback in the stock market soon, might consider a relatively stop at 20.94 while the max. suggested stop for this trade (if targeting T2 and/or T3 or beyond) is 18.48. The suggested beta-adjusted position size for this trade is 0.35 (i.e.- 1/3rd of a typical position size).
Keep in mind that although this is a long swing trade (i.e.- you buy or go long TVIX), it is effectively a short bet on the stock market and as such, one should factor that in to their existing positioning as to keep their desired net long or net short exposure to the market within their ideal range. Another way to say this is the TVIX & QQQ official trades will have a high positive, not negative, correlation although one is a long & the other a short.