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iPath S&P 500 VIX ST Futures ETN Message Board

  • redsoxenvy redsoxenvy Aug 19, 2013 4:08 PM Flag

    As a VXX long, here are my concerns. Like to hear from others

    First of all the market is now down 4 days in a row and we did not get back to 16. For whatever reason it seems VXX drops 9 times out of 10 when the market goes up, so we need a continued streak.

    Second, I'm wondering how we could only be up a dollar on a drop around 600 points on the Dow. I'm not starting to think if this is a "gradual" correction in the market, where people maybe have already bought their protection, we won't go up as much as I think. I am sticking to my target of 17.50 but with somewhat less of a conviction.

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    • To: RedSox. Many times I am wondering regarding the similar thing. I believe that the VXX should work in contrary to the markets. If you read some of the other posts as regarding this: they will speak of "contango and backwardation" two words pertaining to the futures markets and this is in lockstep with the two front months of the VIX. (These work for the actual bank). I agree with you - all the VXX, VIX is just a sentiment or psychology of the markets. You're darned right: if the markets are declining should not the VXX be rising? The VXX fund is initiated by one of the big investment banks, as Barclays and ironically, operating and management fees come from this just as a mutual fund. (Some think otherwise and are deceived). So maybe someone has their hand in the kitty! I bid you all of the best.

    • This turd loses 2-4% per day. You can try buying it down and adding more and more and sometimes come out ahead but it doesn't happen often. Last time it gained was during the boston bombing, something really awful has to happen. Better to short this turd or buy XIV the inverse, it isn't worth losing sleep and pumping money into it....listen to the shorts posting here, it is more of a sure thing on the short side.

      • 2 Replies to cummingbass
      • Cumming: A sure thing? I doubt this.

        Is this not what they had said in the year of 2007? Things were flourishing then - until...
        Companies that had been paying dividends DURING THE GREAT DEPRESSION, they went through: world wars, Vietnam, Kennedy, WTC, etc., UNSCATHED UNTIL 2008. Companies that were seemingly solid and stable did collapse and are no more, some surviving are a mere shell of themselves. When the Fed removes the punch bowl, we will all sober up.

      • I onwed VXX this year when the boston bombings occurred. I cheered and relished in how much money I made, it was AWESOME! And then it was not AWESOME :(

        You never want to be owning VXX when it goes higher because then you will be a part of something that makes money on death and destruction. Call being short a karmic bet.

    • Hey I want to thank you personally for your money. My family and I appreciate your sacrifice. I hope you do really well in other areas of your life so you can keep donating to us. Thanks!

    • 3 months ago I did quite good getting in at $18 and selling at $22. Since then I got back in at $16 and got stuck since then. The problem is once this starts going down, each day you are holding, time will be against you. This id purely a fear play, so even if the market goes down and no fear, vxx will go down. I'll be all out at $16

    • Hey Red, good question. You will get a lot of responses on here telling you to read the prospectus and that this is behaving exactly as designed. I have been frustrated too by the lack of correlation in the moves up and down. I did pretty well 2 years ago going long but have since lost any gains. Until this market is truly based upon earnings and real balance sheets it is difficult to be bearish, even when everything I believe is bearish. Over the past 5 years, and really since inception, this has not been a place to sit on the long side. The pops are too hard to predict and the painfully steady decline is brutal. That being said, $17.50 is in reach but don't be afraid to take a loss and never play this ETF again unless you are day trading.


      Sentiment: Hold

31.5399+0.9601(+3.04%)Jul 31 4:00 PMEDT

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