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iPath S&P 500 VIX ST Futures ETN Message Board

  • punbr punbr Jun 18, 2012 2:29 PM Flag

    Carefully, I put my hand into the alligator's mouth, thinking that

    I would show off my quickness and pull it back before the 'gator chomped down. Now I am like Nicholas Cage in "Moonstruck" yelling "My hand, my hand!" If I were an impulsive teen or a sideshow worker in the 'gator show on the roadside, I would have an excuse, but I'm neither. To make matters worse, I am now on the same side of the trade as Becky (if she really has a position). The only thing helping my wounds are my long positions in AAPL (up over $13) and a few others. Now I'm stuck in that awful quandry--hold and go lower and lower or hope for a bounce. The market could be setting up for a nice rally, and if so, VXX could be at $15 or lower in the blink of an eye. If a situation does emerge where VXX is a good buy, UVXY will be a far better buy. Soon it will be $5 cheaper than VXX, yet will move better when VXX does move higher (apparently not today).

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    • Sorry to hear that pnbur. I will never change my position and will sit short play with (eventually) millions of the houses money. There is NEVER a case to he made for a long position no matter how juicy it looks. VXX goes to $0. That is an absolute certainty.

      The new MAX value for VXX is down to about $43 from 45. And headed lower by the second.

      I prefer not to make hope part of my strategy. You will always only find disappointment.

      • 2 Replies to wes_w_weber
      • Wes, this thing will NEVER go to $0 as you know. Its a money maker for Barclays, so they will simply reverse the split and it will magically go up to $40 - $60 and theoretically start to head down again.

        The problem for Barclays is that we have limited upside in the market. (1450 max on the S&P and we are already close to 1350 - jmo). So you have to think through where the price will be short term - medium term - long term. If they split at $15 and go 1-3 .. the price starts at $45 and then could go HIGHER for a period while the market goes lower. They also have to consider that the POMO schedule is coming to an end soon .. as is TWIST. Do they want to send the price up to $45 and THEN have the market tank? Its not at all clear to me that the FED feels the mandate to keep the market proped up.

        My opinion .. is that they try to buy some time and not split immediately. I think they want to know what the FED is going to do with the market. In a perfect world .. Barclays would keep VXX at around $20 as it trades REALLY well at this price.

      • Wes--Of course I totally agree with you re where VXX is headed. And the futility of hope as a "strategy". That's about the only case to be made with VXX long position (maybe I'll get lucky). The good news is that the long bet I made it very small. Bad news is being out of my short. But I will start my short position again, even if much lower.

    • " The market could be setting up for a nice rally " >>> based on what ?? twiat, qe 3 or spain, italy and greece defaulting.

      american banksters are the losers. without euro dollars to save them. uncle ben will NOT help this time.

      wallstreet is sugared out on fake dollar rally money. your better off owning VXX shares, not give your money to the option momo's.

      VXX fair value right now is 20.00.

    • Face it Punbr - your an investor not a trader. Traders that were long VXX today made money and were off doing other things by breakfast time. I would encourage you to sell now. Take your lumps. And keep posting how great being short is .. until its not.

      • 1 Reply to wannabuyandsell
      • wanna--Being short VXX is the place to be. Certainly that won't be true every day, but over the long term VXX goes lower and lower. Tempermentally, I am more of a trader than investor. VXX longs did not make money today--they were hit hard. I'll stick with this trade a bit longer, but will take my lumps soon if it doesn't reverse.

    • lol.

      I have updated my year end 2012 projections.

      AAPL 850
      VXX 5.01
      UVXY 0.82

      Becky's net worth: -$52,000

27.88+0.26(+0.94%)Feb 9 4:00 PMEST