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iPath S&P 500 VIX ST Futures ETN Message Board

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  • stocksnfootball stocksnfootball Apr 4, 2012 6:55 PM Flag

    VIX up 5% and VXX up 2.3% today- PROOF VXX is going to fall hard


    You nailed it rynofly - real UVXY and VXX traders track the two front VIX Futures that drive the slope of the contango, not the Spot VIX. Anytime someone compares the Spot VIX to VXX etc, that marks them as an volatility amateur.

    But I do like what that gm poster on this board always talks about - as long as the VIX performs better than VXV, contango is reduced which benefits UVXY and VXX, especially for day trades. Backwardation only occurs 20% of the time, but as contango approaches backwardation, there is a lot of long day trade money to be made.

    Like you, I made bank on a UVXY long today once again and closed out at the first sign of afternoon weakness as gm always suggests. Don't get greedy.

    I've also been buying XIV as a 'hedge' before closing UVXY, just to ride that into the close. That last hour has been so predictable lately, I'll keep doing that until it stops working.

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