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ProShares Ultra VIX Short-Term Futures Message Board

  • skytrader32 skytrader32 Aug 7, 2012 9:55 AM Flag

    I sold UVXY at $5.60 from $5.95. My record 9-4

    So I win on UVXY 9 times straight and thought I was a badass then lose last 4 times. This time just a $450 loss.
    But I still believe market in near top but again thats what I believe not what I know. SO had to sell.

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    • Excellent discipline. Capital preservation is key. Cut your losses short and let your winners run. Not many have the will to do so and that's what seperates the winners from the losers. Good job! :-)

    • You believe that the market is near a top, and you sold this etf?

      • 2 Replies to rimtardiness
      • To hold UVXY long is to lose. From Mid-May to today, $VIX up from ~$15.5 to ~$15.8. During the same period, UVXY down from ~$25 to ~$5.5. So, since mid-May, the $VIX has risen slightly and UVXY lost 80% of its value. See the correlation? Me neither! Nobody does. You know why? THERE ISN'T A CORRELATION!!! UVXY goes down no matter what the $SPX does, no matter what $VIX, spot VIX, futures $VIX, etc., do. Look at the UVXY chart since its IPO. Over the long haul, you will not make money staying long UVXY. UVXY is a fantastic, low-risk, high return long-term short and a high-risk, luke-warm, short-term long trade. Play it any other way and you will lose. That's why Rene got out. She should stay out, or go short. Or end up 9-5. JMO. But, I'm open to argument. Anybody out there want to enlighten the UVXY MB readers and tell everyone how I'm wrong about UVXY's performance since mid-May? We're all eyes. GLTA!!!

      • That's what I believe not what I know so I am going on a hunch. Not taking the chance. I take what the market gives me and it was giving me more losses.

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