I want to hear how much and how long you have held. I know the real bagholders are in hiding too afraid to log in. I know most are trained to hold these leveraged instruments longer than intended as well. Just look at FAZ. Many reverse splits as well as here
I lost 23k and even worst is I dont have any UVXY stock or calls. I took the losses so no hope to recoup waiting for VIX to hit 16 to re enter. This time will be slowly invested and try to get out quickly. Could I ???
Oh, yeah, my cost basis is now $8.53 and I have held since March 26. Losses so far...$0.00, realized. I hold it, I stay out of margin and I hedge against it occasionally.
Playing the market cycle on this one...or are you going to tell me the market has bottomed and volatity has topped since 3/26?
Good luck and I look forward to seeing your data.
These are the saddest posts I have ever seen on a YAHOO finance board. I feel sorry for all of you, but you won't recoup your losses with your continued position. Until you recognize that you need to rethink your approach - your screwed.
Otherwise, none of you should be in the market, much less in volatility instruments.
This is a day trade instrument ...
And it is very lucrative
I've made 10's of thousands flipping this daily.
Backwardation/Contango is compressing this issue - ETF
It won't last forever ... maybe thru 2nd quarter 2013
but sold again today at 7.56 after buying at 6.70 day before yesterday.
Looks like another buy opportunity tomorrow.
The Quick And Fast are the only ones who survive and thrive on this one.
"The Day is Long"