it might drop again, but it says a lot that it moved up so sharply. It is exposing the doubt people have in this rally.
So why was UVXY down? I guess the violent movement back from the $9 range, has caused a little more hesitancy. This rally is propped up on false hopes though. Oil is not okay, and foreign economies are still struggling. The US economy isn't even doing that great, which is why they are delaying the rate increase, yet again. I'm holding on to this until it at least hits mid 20s
You mean the Jobs numbers that people already expect to be good? So what happens when they don't meet expectations? A much bigger move than if they merely meet or slightly exceed. The sentiment is down...the tide has been slowly turning for a week now.
I'm just going to disagree with you. I think it hits $20+ within the next 4 weeks.
I doubt that, These ETFs don't really act that way. It is much more likely to 1. either go back and forth, or 2. Reverse hard. It has already been through a steady beat down to 13.80. It has recovered nicely off of that low. You may get some fluctuation from here, but the narrative is turning much more negative now with china having issues and oil dropping.
I'm averaged down to 17.28 now. Bought some more early yesterday morning before the turn around at 13.85. I'm ready for this thing to surge, and make some big money.
May see some back and forth, going forward, but this is all with Oil still being at a 2016 high. What happens when everyone this is propped up on false hope?
well, it has surged like crazy the past 1.5 days. So a little back tracking to 17 isn't a big deal.
I don't think we see a rate hike, but I do think the current market is built on fluff. It doesn't make much sense to me. The supply of oil is getting higher, earnings have not been good. Q2 estimates aren't that great either. A lot of this is false hope.
It looks like phisher actually thinks I care what he says.
(*&*) !!!!!!*&$*)_@_@______$##$%^&* There Phisher now i'm speaking your language. Maybe you can make some sense of that.
Try being patient. Two months ago people were saying these kinds of things about XIV. Now look at it.
The market hasn't done that great really. The annualized return is like 2.7%, not amazing. But shorting the market over long periods of time isn't a great plan.
So it seems that oil prices are the huge x factor. One thing I look at is the momentum caused by news coverage. News was all over the OPEC meetings that failed, until they failed of course and then they got about half a day of coverage. The Kuwait strike got a ton of coverage, but I had to search to figure out it was over, and I found that they plan to up production to new highs. On top of that the supply glut continues to grow in the US. The negative news is ignored. Everyone is convinced that we are out of the woods. Two months ago news coverage was saying it would be 2020 until oil prices recovered, and the world was going down the drain. Amazing how fast things change. I think the sentiment changes at some point and UVXY becomes a winner for those of us sitting on averages around current prices.