It'never really went over $10. We're just about a week off the revers split so, for a day, TVIX bounced past one dollar. You have to try and keep these things in their proper perspective. That said, TVIX over a buck was really a surprise. It didn't last long, but reverse splits tend to have a volatile effect on investor sentiment, which really just means the average retail investor has trouble with math.
I did premarket Monday 1k shares @ 7.25 & sold @ 8.25
Caught the first 10% up real fast & cashed out
Still can't believe it went over $10
Greece is a non issue. China could become a problem. Short term, i'm thinking the US market will shrug off Greece and realize that US employment and other stats actually pretty good, and we'll see TVIX back in eights on monday. Long term? i don't know. It's all about Asia now. In the end, i think Koreans will rule the world. They just won't quit working.
That's what I've been trying to tell you all along. The major threat is the 7 year long bearish rising wedge markets poured out the apex of on Monday and spent the rest of the week retesting.
That would be a very good plan or here's a crazy idea, why don't you buy the $hit. Coo Coo
Ouch that hurts!
You didn't get spooked last weekend?
The VIX hasn't even hit 20 & this thing is flying high.
Probably gonna cover & sit this one out.
by the way it really shows how cruel this "game" can be. I just needed to make it until July 17 without big spike in UVXY but, bang. I am fairly certain UVXY is going to hit the 65 price soon but not certain enough to throw more money at it.
I tend to agree with you that the Greece situation should not be enough to make UVXY rise but right now it is sort of feeding off itself.
1K shares no big deal- I shorted UVXY calls naked, had to cover on the spike this week- lost half my capital. if UVXY had gone to 80 and I had held, would have been a total loss. Just couldn't take that kind of risk. I think probably TVIX will be up about 50% in the next 2 weeks or so. It doesn't make a lot of sense, since as you said the Greek stuff should be baked in the cake already, but that hasn't stopped the rise for even a second.
I'm holding 1k shares short @ 9.50
Thinking worst case scenario, that Greece panic has already been baked in
What don't we know at this point?
They can't pay & will have to vote YES @ the referendum
Lose your PM or lose their your country?
It's the beginning of the bread & butter tourism season & they can't afford to lose the euro peg.
Timing is horrible for them to vote NO & walk away with no security or future.
Puerto Rico has already been baked in & Chinese/European stocks are dirt cheap for the taking.
Thinking this blows over & we see new ATH in the S&P 500
Did you get to read the article on backwardation? Sunday night in Greece is going to be a madhouse. Enough to #$%$ all markets. Except us bond and volitility markets.. They will be higher
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just for the record less than a buck ...i have no position cash is king right now more market down side to come, going into earnings..
its your money! a few penny's is nothing sure would not short this stock swing trade yes ,and there is no volume to speak of.