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ProShares Ultra VIX Short-Term Futures Message Board

  • demedici Sep 17, 2012 6:34 PM Flag

    Confessions of a former UVXYer

    This ETF is a loser. This is very hard to figure out. I suspect you need some kind of super computer program to play this regularly with significant success. When it goes up, it can be big. And that is the dream that keeps longs coming back. But this is like a casino, with the odds stacked against you. If you aren't winning big, which is usually the case, you are losing big. Theoretically, you can make a lot of money if you time it exactly right. Chances are you can't and chances are you will lose a lot of money. Bottom line, you touch this and most likely you will lose money. And those odds are by a wide margin.

    And besides all that, all the dramatic events that might pump this seem to be over. World War III could do it. A major terrorist attack. Maybe an Israeli attack on Iran...maybe Obama's re-election...maybe...

    And at some point, are economy might just collapse, but I think we have at least a couple of months before that happens, maybe a lot longer.

    Just My Opinion

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    • This is one of the best comments on this board. All who invest should read it carefully. OK, I had to learn the hard way. Any investment that goes from 2,448 to 28.52 is toxic.

    • thanks good post,i lost about $3000.00 so far being long,sold it,bought tza $16.00
      i know one person lost $30,000.00 last week,now he quit day trading.

      Sentiment: Strong Sell

    • jondow69 Sep 17, 2012 8:44 PM Flag

      hey dem great great great great POST, COULDN'T HAVE SAID IT BETTER MYSELF, THIS IS A ALGO,BIG $, POS SCAM, DEVEOPED TO ROB THE TOOTH FILLING FROM YOUR TEETH IN BROAD DAY LIGHT! THIS POS WILL MAKE YOU CRY,WEEP IN PAIN, BRING YOU, YOUR FAMILY, YOUR FRIENDS TO YOUR KNEES, and when your on your knees, realling in pain, a 18 wheeler will drive down the high way 118 MPH, and run you down, THEN THEN, THE 19 WHEELER WILL JAM ON THE BREAKS, TURN AROUND AND FINSH THE JOB, UVXY LEAVES NO PRISONERS! . people who played with this POS, and finally walked away spend there lives thinking, what may have been, had i not been stupid enough to have played with the devil in thee own back yard, with the cards/deck stacked in the devils favor, ohh what could have been, lord oh lord, what could have been! JMHO

      Sentiment: Strong Sell

    • What would you say to someone who has now lost nearly 42% of his account on UVXY? Should I just kill myself or should I try to make it back? I need to almost double my money to make the losses back and stocks seemed so overpriced.

      • 5 Replies to golftheband_onemanshow
      • you have 68%,use it buy silver or financial,i missed the train agq stopped out $47.00,will enter again in cde,exk,agq

        Sentiment: Strong Sell

      • Why would you short (unless intraday only for scalping) when the market is in an UPTREND? Yes, the dominant trend is UP.....

        Just buy TNA/QLD/XIV etc when market pulls back, don't be tempted to short...........don't fight the FED and never short a boring market

      • You only need 1 thing. A strong mind and a strong hand. What comes down, goes up. Convince yourself.

      • demedici Sep 17, 2012 7:00 PM Flag

        PS while the economy is bad in several levels, stocks actually are not over priced. In fact, they're historically under valued.

      • demedici Sep 17, 2012 6:59 PM Flag

        In my opinion, you would be better off taking your money and putting it almost in anything else. Short it. But XIV. Buy financials. Your chances of making money would automatically improve. I lost a lot of money on this despite the dismal market and reality. Contango is a killer. And I guess the "big guys" get in this during the day but leave it for dead at night. They use it as a hedge against some catastrophe apparently.

        Don't kill yourself. But take the loss and use your UVXY money for another strategy. If anything, you learn when the coast is clear, this will be the mother of all shorts.

        As for myself, I'm in XIV. I haven't made a lot, but I've stopped losing a lot. And the odds are back in my favor.

        I also have done well on Facebook and AGNC lately.

        Maybe the picture will change in a month or so. Maybe it will even change sooner. But the central bankers seem to have figured out how to pump this market. Moreover, they seem committed to doing so.

        There are other ways to play a negative market. Choose almost any one besides this. IMO

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