Kind of stuck in this now. It just snowballed before I knew what I was getting into. Bought 1k shares @19.50 and have been averaging down since then. With today's purchase I now have 18,300 shares @14.86 average price. Sure wish I was never introduced to this sheet
UVXY will come back. I know it's hard to stomach now but it will come back in a few weeks. This economy is #$%$ and all these earnings that are coming in look good now, but they really aren't. These were all lowered earnings from previous 2 qrts. Were only growing by 1.5% % lol. You think 2009 was a bad year, wait to latter this year when everything comes crashing down. So many people are still at of work. Who ever said this economy is getting better is lying!! I feel bad for all these people putting their retirement in 401k's and the market right now. The big boys are getting ready to take this down and stick you. Oh and I bought some UVXY along with FAZ today. I have no doubt this market is due for a big correction.
Hate to say it, but I did the same thing @ $12. This crazy thing may drop further, but I'm convinced when the Middle East turns red-hot, then UVXY will explode. The Middle East is luke-warm right now.
hey 68, if we get a pop tomorow sell this f'in POS,and never look back! mid east? europe? china hardlanding? listen A?????//h/////o////////l//////e///// we have a war on in MALI, and algeria, the 10th biggest exporter, and the market yawns, and you think the mid east matters? give me a f'in break pal!
I want to feel sorry for you. 4300 share at 14.86 average price. When are fools going to learn? Who told you to buy this day trading vehicle. Even a day can be too long to hold this ETF. Do you understand what it is made of? Do you understand decay and contango and backwardation? Do you realize that ETFs like this are very dangerous and made of underlying options? Do you understand that the fed is pumping so much money into the system and giving the POMO free money to buy stocks? Until there is a change in the weather, there will be no high volatility, just a rare spike here and therethat gets wiped out. What is the POMO, you ask? Do some research, and find out the answers.
We are heading for a third reverse split of 1:10, if UVXY goes down further from here.That will make the high $24,500. It is unbelievable that trading vehicles like this are allowed to exist. I want to feel sorry for you, but I can't!!! Didn't you even look at the charts, if nothing else before you bought this?
If I were you I would get out now, lick your wounds. Don't believe the scoundrels that say you will be alright. There is a terrible game going on in Washington and it will destroy our monetary system if it isn't stopped soon!!!!
The problem with selling covered calls, as suggested, is that UVXY will lose more value in a day than you will receive from the covered call. Just get the out, and just say no to these types of ETFs and ETNs.
You will have to work your way out now. Trade in and out using LIFO on small dips and spikes. to bring your cost down and then hope during one of these periods there is a big correction in the market. You have to be hoping the debt ceiling blows up.
Debt ceiling blowup? I wish I could call my credit card companies up and increase my line every time I need money to spend without ever paying it back.....will eventually blow up people....2007 will look pretty...compare to the next collapse.
hey hand i want to call you ########### names,rip ya, but i'll say this!
c/o a beginners///guide////to////day///trading////online////////////////// 2nd/////edition////by/////toni//////turner//////////////////////////////////////////////////////////////you can order it////////////////////a//////////m///////a///z/o////////////////n
great easy to read, most people who start trading make the same mistakes.
in future,never average down,cut losses,don't turn a trade into an investment! before you buy c/o the stock? 10-20-50-100-200DMA,look at in for a week, how's it acting? in UVXY case down from 2058 10/4/11 to 11's today? what does that tell ya!
order that book now,learn your lesson,jmo and g/l.
Sentiment: Strong Sell