He should have made SEC ban shorting and going long in short ETN's before manipulating the markets then everyone would win. He should have made it clear in plain speak "Everyone, you better close short positions because I will pump up the markets and you will have no chance of winning."
Then I would even ride it up for a while and just keep placing stop loss orders. Easy way to make money.
I feel bad for you and ur losses and can feel ur pain..
I once took a long position on VXX as well but then read up everything I could on this thing and bailed out with a decent loss that did not wipe me out.. Took the reverse position and recouped my losses... So u have to blame urself as well for ur lack of DD rather blaming everything on other people...
u wanted to make money when the market goes down...which imples u wanted ur happiness out of other's misery.. so u are not any better and stop cribbing abt ur losses for ur own stupidity
I wish the crooks would have banned short selling back in 2009 when it was brought to everyones' attention. They fiquired out a way to screw the people worse by creating ALL the inverse etf's and literally STEAL all their money by creating the bull market with stimulas and carefully making sure every down day was bought up and causing MANY short squeeze incidents that again fueled the phony rally!