POST YOUR LOSSES SHORTS! SHORTS SURE GOT QUIET! SHORTS ARE GETTING BURNED!
Really? For real? You people are this stupid? Don't answer that...the answer is already obvious.
UVXY goes up a whopping 30 cents and you morons act like you just won the lottery.
I've been short since November of 2011. Split adjusted, I'm short from $147/share. Up a healthy six figures from that trade. It will be at least 3 months before I cover. $147 to $5/share...that's a hell of a return! So what if it recovers a bit...it won't last. Decay, contango, dilution, shorts, sentiment will ALWAYS be in shorts favor.
Think about it. Over the last 3 years, the VIX has gone down 75% of the time out of over 600 trading days. The odds clearly do NOT favor you idiot longs. The quicker you realize this is a scam and a suckers bet, the more money you will save.
Why’s everyone gangbanging speeter. If he didn’t need to cover chances are he doesn’t need the money. Even this thing go back up like TVIX did last time, he probably can afford to wait and ride it back down again. If I were him, paying 15% vs 40% tax, I’d wait too.
What % of your portfolio did you use to short UVXY? I tried to short it for months but not easy. Did you add more on the way down? Seems like being up 95% you might as well cover since the 100K short is only worth 5K now. Very little profit left to be had.
You're full of it. Any short would have covered by now. If what you're saying is true, you're up 97% or so. The most you can make on a short is 100% and this isn't going to zero so you're limited to a 1 or 2% gain.
Full of it? I'm short from $24.68/share...BEFORE IT SPLIT. This peaked at over $40/share...BEFORE IT SPLIT. Split adjusted, this peaked at $244/share. I'm short from $147/share (split adjusted). So I missed the peak by almost $100/share (split adjusted). What's there to question? I've have daytraded this short almost every day since last November. But I also hold a long term short play because for tax purposes. I may never cover this short. Why should I? $147 to $5/share is indeed a 97% gain. Not hard to believe idiot. This thing has done NOTHING but go DOWN.
I'm short sport. Been posting here since last November, when NO ONE was on this thread and when UVXY was trading 50,000- 100,000 shares a day, long ways away from the 13 MILLION shares traded daily today. I've been warning idiots and fools like you for 8 months now to AVOID going long. Sadly, many of you still don't listen.
Go look at my posts in April. I predicted THE DAY THIS SPLIT that UVXY would be $13/share in 1-2 months and was spot on. When it hit that level, I predicted this would be single digits in weeks. I was spot on. I predicted DAYS AGO that this would hit the $5's, and everyone scoffed and laughed.
Go ahead sucker, laugh. I don't give a flying two bird schits.
speeter: the way you write that someone might think you have a gain of $142.00. You don't. The key is when you say "split-adjusted." If you happened to have shorted UVXY when it first was introduced, at around $45.00, then your gain is about $44.00. It is hard to believe you would hold your short position to this day. If you didn't add to your position any, but you probably did (which was the right thing to do), your gains since the reverse split have come at 1/6 the rate. Since the split in March, you have gained maybe $5.00, at best. Why would you continue to hold it for such slow and painful gains? You should actually WANT it to go back up so you can re-short it with an entirely new position. Saying you will continue to hold it for such painfully slow gain is ridiculous. For each $1.00 a long loses since March, you gain a little over $0.15. Don't see the logic, sorry.
Good luck and good trade, so far. However, it is not a great trade until you actually cover.
Tax reasons my friend. This is WHY I won't cover. I've watched this go from $147/share to $5/share split adjusted. Obviously, most people think...I'M a retard for not covering. Well, I'm in the highest tax bracket in America. Sorry, but Uncle Sam is not getting 40% of my profit. Hence the reason why I won't/can't cover until November.
watty, the gentleman speedster has been posting on this board about UVXY at least from the beginning of this year. hes been telling people about uvxy, and how hes been shorting it. the guy has been consistant for a long long time.
speeter: Actually, as I re-read your post you do come right out and say "$147 to $5.00." That leads me to believe that maybe you haven't actually been holding short since November. If you had been, you would not have expressed it that way. Unless of course you had said you did that with 1/6 the position you originally had. So, it is either $147 to $5.00 with a now 1/6 position or it is $45 to under $1.00 with your full position. Still a great trade, but not even close to the gain a TVIX LONG holder had not once, but twice, and not split adjusted or anything. Please, get the numbers right or fess up as to when you actually opened your position.
If you hold through another reverse split are you going to expect people to believe you held it from $600+ to under $5.00? The fact is you would still be just a little over a $44.00 gain at that point.
Holding at this point gets you nothing more. How can you stand gains like that? Make a winner a winner and take your gains off the table.
PS: Another reverse split would just hurt you 6 times as much again. Even if you were to "Load Up" right before the RS, if it is at $4.00 when it splits, your maximum additional gain is still $4.00. Do you always short penny stocks, too?