It's all about making money not making friends with longs or enemy with shorts. First sign of reversal is stability and despite the markets hitting a new high, UVXY stayed and closed above previous low. As I said before this thing should've been in the 8s if it was folliwng its long term trend where every short is so sure will continue forever.
Mark this post - it will fall hard next week. This was saved as futures did not fall as much as spot. Next week that contango could be huge headwind for UVXY and likely this will crash 20% abruptly next week