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ProShares Ultra VIX Short-Term Futures Message Board

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  • speeter1 speeter1 Aug 7, 2012 9:01 PM Flag

    You Longs Really Are Retarded

    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.

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    • maybe u should use mitt or warren accountant they only paid 14%

    • Just curious, at what level would you add to shorts again?

      • 1 Reply to jus_dafaxs
      • I've said it a million times on this board. I posted numerical statistics to show/prove that UVXY will never hold it's gains. This was back in April. I showed/proved that the UVXY, since inception, had NEVER held a gain for more than 3 days in row. I believ that that has since been moved to 4 days, which has happened ONCE this year to my knowledge. The AVERAGE is 1.8 days meaning this pile of whale schit doesn't any gains past 1.8 days. DOWN DAYS are 3:1 in FAVOR of going down.

        I can waste your time and mine by posting all these facts, but the simple fact is this. UVXY is DOWN almost 90% year to date and DOWN 98% since inception. This alone should clue you all in that this ETF is nothing but a rip-off.

    • Understand completely, I guess. It is like a friend of mine who says he would never buy a lottery ticket when the jackpot is over $200,000,000.00. He says the taxes would kill him of he won. Kind of a hollow victory, though. By the way, I believe if you hold a short position past December 30, the amount of short shares that have been "loaned" to you count as capital gains. One reason for the Santa Claus rally. Did your accountant catch that when you held this from November into the new calendar(aka, tax) year?

      You want your cake but you don't want to eat it.

      Good luck.

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