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iPath S&P 500 VIX ST Futures ETN Message Board

  • con_law_misery con_law_misery Mar 14, 2013 10:04 AM Flag

    Do john VXX is down 36% this year. If we followed Wes we'd be up 12% already just on VXX short

    The pain is tremendous although not as bad as the huge gains on MNKD calls. I am sick.

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    • Listen to Wes? Last I heard, Wes is long VXX. So what are you referring to?
      I am currently short UVXY, and had a short position in UVXY thru a good part of January. I just made the mistake of taking profit too early, and not holding on to a core short position, no matter what.
      My current position is very small, because I do expect a significant pullback in the market and will add to my core short position when that happens. If I am wrong, and the market just continues its straight up gravity defying move to record high after record high daily, then I will simply hold on to this core short UVXY position while reverse splits will increase my holdings over time.

      • 3 Replies to do.john67
      • dojo:

        "If I am wrong, and the market just continues its straight up gravity defying move to record high after record high daily, then I will simply hold on to this core short UVXY position while reverse splits will increase my holdings over time."

        Your strategy is in the right place but your math is a bit turned around.

        Reverse splits will decrease the number of shares that you eventually must buy back.

        ie, if you are short 3600 shares today, in two years, after two more 1:6 reverse splits, you will be short only 100 shares!!!

      • Ack. This thing is really dropping. Down almost 40% this year already. Going to drop 90% this year? How can it possibly keep going down so fast with never a bounce?

      • Yes do as I say not as I do. I am a fickle and nimble trader I will admit but in hindsight the short VXX bet ALWAYS pays off with NO TRADING required. It is a stress free bet I have no problems recommending. I have people in short VXX now as I am long because they simply do not have the ability to make the decisions that I am able to do. I do not feel guilty about that as I am losing hehe. Right now anyway. Over time they will for sure outperform me with that bet - UNTIL I join them again. I have a long VXX bet to protect some of my longer positions. I find it is actually cheaper than buying puts on the stocks I own personally!

 
VXX
36.99+0.03(+0.08%)Aug 25 4:00 PMEDT