New all time low today. Wow guys- you really got nailed holding this over the weekend. Can't believe this was 37 Friday. There is no chance it ever sees 37, 36, 35, or 34 ever again and will be $12 or lower in 12 months. How many of you will hold on to the next reverse split? And WHY?!
Nef, as I wrote Friday nite, I expect 3 gap and goes for the stock market over the next six trading days. That will keep retail out until the 142-144 area on the SPY . . . when of course da boyz will need some buyers.
VXX should drop $1.50 on average for each gap plus whatever roll yield you get in between.
Looks about right Rick! You know, with the holidays and all. I think this is the last week VXX ever sees over 30 until the next reverse split.
I need to re-think my whole strategy- I've been way too cautious and it has burned me huge missing out on VXX gains. Fact is I'm not a big player like Limpy with his 8 digit trading account so I need to make some serious hay. In fact to finance my dream of just doing this on the beach in Costa Rica for the rest of my life I need to at least triple my money and I'd prefer to do it in the next 3 or 4 years while I'm young enough to enjoy it! Some VXX puts went up 1000% or more the past year but I think with the VIX at 15 those opportunities are hard to come by right now.
Your strategy makes sense- only deploying 10% or less on this POS- but even if I double my money every year on 10% it won't get me to the promised land. What to do, what to do.
Rick, I agree this week will be up, although SPY to 142-144? That would be one truly incredible move. I kind of think when the big boys come back next week they will retrace the market a bit - of course that doesn't mean VXX will go up.