Not bad. Another great trade by the Wes! I prefer using a safer strategy though. I cannot lose a six figure amount in one trade and be nonchalant about it.
What I like about being short VXX or UVXY with a hedge is very much in play today.
Though VXX has turned higher, only higher a bit, yet hedge is on a rampage. So I make money wether VXX or (in my case, UVXY) trades up or down.
The only time I lose is when things get screwy like end of Jan when the market was going up and so did VXX! But, how often does that happen?
John try not to look at it as non-chalant. I do not even look at the value of my trades. I have the $ signs completely removed. Sometimes I have no idea what I have made or lost. I just prefer it to be green. It really helps you maintain objectiveness and remove the emotion from the decision.
You are spot on with most of your trades as well or you wouldn't be here as long as you have been. I would stick to exactly what you have been doing.
Remember this sell off will be quick and decisive. Then we rocket into the debt talks. i do not see much downside to markets in general.
Yes purchased all of it in the 20's. New lows means bail at all costs! Up side I will dump half at $24 and hold the rest for fun. I enter the whole she-bang 10 cents below the bid when im selling. I do not flinch with this product but I have been in a positon to hold it as well for a few days when it was positive.
You have to assume the bet is a total loser at all times. It is just a single number bet on the rouelette wheel but if you are up and have some money to play with, whats the harm - its only money ;)
Terrible bet though. I am not kidding cumulativelu about throwing 20M at this thing to barely eek out a gain!! Can't wait to play Red Rover with the shorts and let Wes come over!