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iPath S&P 500 VIX ST Futures ETN Message Board

  • wes_w_weber wes_w_weber Mar 12, 2013 11:04 AM Flag

    Still holding VXX, almost break even.

    Not bad considering but I had to buy a bit in after hours last night to bring the cost down. I have 20k shares as of now to offset some other things. Working well.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Yup...do not use this ETF to get rich. It is a great hedge to your longs. Eventually, we will get an affirmative direction or correction with the market...but this vol will be with us for a while. Buy VXX when it hits lower lows and short when it pops.

      What do you think Wes...this trade will work for the next month? We will see what next earnings season brings and sell in May and go away.

      • 1 Reply to markcusw
      • "great hedge to your longs" ? Are you sure about that? Shorting VXX is a great hedge for your short positions, and is how I use it. But, this is a horrible hedge for long positions.
        Wait until market does correct. Correction may be very gradual or may not occur for a very long time, now that everyone's anticipating a correction.
        VXX will only lose you money in those scenario's, so why use it as a hedge for long positions. It does not work that way. Unless you have a great fear of a market crash and a crash happens, you have almost no chance of benefitting from being long VXX.
        2 ways to learn, look at the charts going back to time VXX started trading, or buy VXX and hold it for a few months, and watch your money disappear!

    • Finally, an up day for VXX/UVXY. Got a small short position in UVXY. Will build from here!

    • Good job Wes, you gonna hold til end of day?

 
VXX
27.83+0.37(+1.33%)Aug 27 8:00 PMEDT

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