certainly, a long position here makes a lot of sense. considering the vix futures hit 72 in nov 2008, I figure on a 10% correction, which is for sure coming according to smart money on cnbc, uvxy should return to its all time high. margarine up, and take it long. Elliott wave is signaling a breakout for uvxy. there was a giant black candlestick rising all day today. shorts are sweaty.
JCC: did u short at this price. I just started at 21.3 to short. will do more tuesday and wed b4 fed meeting. Just did it today incase no shares available tomorrow. I am expecting 22 to hit tomorrow to short more.