UVXY. VXX and UVXY up 5% and 10% respectively. Finally get to build on my UVXY short core position. Managing my portfolio is now becoming a work of art. I am starting to crave listening to Bach and Chopin. It's a masterpiece. But, still in the red for the year, so not ready to brag yet.
This seems like a good time to short these dogs with VIX at 15 area and big contango. UVXY even more so with compounding, just remember if the big one hits it can go up 700% so don't short with over 10% of your money or they could come for your house.
After an amazing bull run, the market will likely sell off quite a bit more going into the close today, and if it does, I will wait until Monday to short more UVXY, thinking the correction is finally happening.
If this turns out to be another head fake, I will make a nice profit on the shares that I shorted today, but I won't cover, because in the long run, this short position is money in the bank!