Wow you really believe UVXY's price is driven by short selling? Get a clue, it's largely driven by NAV, which is driven by VIX futures pricing. Short selling is intraday noise relative to the much more significant impact of the aforementioned variables.
hey falc, UVXY, price is controlled by NAV? UVXY is probably the most minipulated ETF, on the market! once/twice or so a month, after a body slam to all time lows, the computers let it run a little to relieve pressure, let SMART, people take profits, then drive er down some more. the smart/lucky traders have bought low $5+/-, sold above $5.40+/-, and booked some profits, this is a low volume market, august 2012 is 21% less volume then same time last year, and this is the lowest volume since 1995, on the NYSE, low volume means a few hedge funds can whip saw any product at will, JMO and G/L.
One of my favorite sites is "T3LIVE" C/O ER OUT, YOU'LL BE GLAD YOU DID. ESPECIALLY MORNING CALL, AND NIGHTLY RECAP! JMO