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iPath S&P 500 VIX ST Futures ETN Message Board

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  • wes_w_weber wes_w_weber Mar 30, 2012 11:34 AM Flag

    Best Short Product I have ever traded.

    Yes totally agree. Over the next year or 2. But contango/decay is almost at record levels, just off from 3 weeks ago. You are guaranteed to lose right now at like 20% per month!

    I went back reading that in the Google News articles the pundits that have been telling the sheeple to buy VXX at 27,25,23,21,19,17 and 16. I would have rather been short on those calls hehehe ;)

    It's so funny to go back and read those articles and sadly most beginners got drawn in.

    This thing will never hit 21 this year again let alone 25!! You think Volatility is going to spike 50%!? Wow.

    But if you are not leverage it is a better bet than going to the roulette table to bet on Red and Black. Here it is 50/50. On roulette your only 47.5% ;)

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    • This thing really is a crime. Bernanke has been shorting billions of shares to short up the Fed's balance sheet.

      the only thing is last year it was on this kind of decline down to 19 then BOOM it hit 60. I don't think Benny will allow it this time but you never know.

      Sad thing is I have a friend who got totally wiped out naked shorting calls when it was in the 30s last year- if he had been able to hold he'd be a millionaire. It's easy to get greedy on this crap when it drops like this.

      • 1 Reply to nefariouswu
      • Yes you can not short this and go on vacation. I personally am holding a core short and use 10-20k shares intraday. I wait for a pop, wait for the pull back. Then short. My loss on the upside is limited to the high of the last pop. Theoretically I can lose bits all day long. It is rare. More likely you get what has happened over last three days. Thats the norm.

        I was idiotic enough to trade this strategy with Apple as it rose. After 25% $100 rise, I was down about 5%. Still got raped but if it would have turned for me (like this is) it is a nice profitable strategy that is remedial.

        YOU MUST define your risk!!

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