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iPath S&P 500 VIX ST Futures ETN Message Board

  • cravesfemaleshape cravesfemaleshape Oct 24, 2010 12:44 PM Flag

    Report Barclays Fraud to this address

    Already sent the following to the SEC:

    ... But as this VXX fell apart beginning in August, the price movements became much different as if there is some massive manipulation. I thought the manipulation was by the Federal Reserve in buying S&P500 futures (I complained to the SEC about this a month ago but apparently the SEC does not mind the Fed manipulating the stock market). But there may be more than this involved as the VIX has gone up on some days that the VXX does not. In fact, since a few months ago you can see how the chart of VXX and VIX differs in that VXX fell off by 25% away from VIX. This makes no sense according to the disclosure by Barclay's. I had as much as 3,800 shares and on margin which is very scary, but still holding 3,200 and am still on margin and I am in deep trouble because of this outright ETF failure. I need to be compensated for this loss that has nothing to do with me. I lost about $30K on this, but should not have as I would have been able to sell at certain levels had this operated as it should have and I'd be down only $10K as of course this would decline. I would also be holding onto only about 1000-1500 shares and not more than double this. I make trades of zero to 8 per week, doing swing trades and on a fund when not buying at the top, money will eventually be made but not when it never goes higher than the previous day's price so consistently even when the VIX goes up much. The recent day when the DOW fell 220+ point, the VIX made it up only 2% and only briefly preventing adequate time to figure out to make a trade when knowing it would normally be up 5-8% on such a day.

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    • I understand and sympathize with your position. Obviously, it is a terrible one and obviously others will come out to say that it was "your" mistake to go on margin. However, fundamentally there is an argument that VXX has not performed as it was advertised due to some of the recent information provided by others (e.g. Barclays impact on liquidity in shares offered since the beginning, the breakdown of VXX relative to VXX over the last 3 months, etc.). My suggestion is that it is going to take more than complaining. It is going to take a well put together argument (not just based on VXX going down), but to catch the specific details as to why VXX was not marketed according to the actual terms. There is some good data with respect to this already prepped here on these boards recently (see moeptr, 10/23/2010 @ 12:33pm and there are others around this timeframe that are good). You won't get too far with Barclays other than for them to perhaps give you some more written information on what their position is so that it can be used against them in the future. It will take legal and class action status to bring the appropriate (mis)information to attention.

    • Did you look at the 2 year chart........?

      I guess not :(

    • THERE IS NO MASSIVE MINIPULATION GOING ON. You are just not smart enough to know what is going on and no one likes you. You just do not get it. Get lost, put you money in bonds and go save some whales.

      I am sorry for your loss, but you should have read the prospectus.

    • 1 Churchill Place, London, E14 5HP

      It's a PLC. To continue in reporting you have to mark the fraud is not happening at the current moment.

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