I suppose you will know when to get in on the short side. I am amazed that anyone who made $1 million shorting VXX would turn around and go short this year when most of the fear that was present throughout last year, is hardly present, this year. The biggest threat to the market right now is the fact that it keeps going higher, and is simply due for a pullback.
I cannot argue with a Millionaire, but keep in mind that Billionaires have become Millionaires, and Millionaires have gone broke. Going long VXX can break anyone, if they stay long, long enough!
Hey John, millionaires do stupid things too you know! ;) But yesterday I was playing with my BB10 all day setting it up. It really is something else. No joke. The "facetime" function the same as everyone else (except smoother) but you can drag content into your phone like your web browser or pictures or power point presenations....pretty neat. It also worked in my P3 parking garage where my iphone gets 0 signal! I am not kidding I had a full conversation on the Z10.
Anyway, I held the VXX bet through the day and bought more pre market. I have been literally hammering this intra day for little bits of gain. I have been profitable on the bet for about a week now and that is holding the darn thing - to me that is unheard of so I will continue to play it until I get beaten down (if I do).
I am waiting for a short entry but I do not see this as the moment personally.
John, do you actually ever get out of your short? The fact that as late as last spring Wes was long VXX and is again long VXX Makes me doubt that he made a million for himself shorting it. I think you give him to much credit.
I have been short vxx since 450 and have never covered completely.