My broker makes me wait until 8AM. In August, there was an incredible run from the early pre-market. I hope it holds off 3 more hours.
Dang, you're right. Who is buying and selling then I see all that volume going off, UVXY already did 300K shares. I hope I can get in under 15.40 at 8 AM.
Back in August, when I should have sold, UVXY opened pre market pretty high but then much higher in regular market open. Then sold off hard, but it had regained the regular market open price within a week or two. I think if I can get the rest of my money in under 18 today, I will have a chance to sell those shares for a profit in the next month. Basically I have almost all my money in already at 40, and this separate chunk would get my average down to 30. I have to think there will be a chance to sell this over 20 in July or later no matter what with all this panic and an overvalued market and rate hike fears too, the perfect storms.
So I am dumping the rest in even if I have to pay 18. Maybe I just kill myself if it goes back to 10 lol. But in all seriousness, I think this is a multi week run.
Does this mean we won't rise as much as expected today? Why does this hold so much cash?
My target for UVXY is 35-40 area, that is my best guess. 25 minutes until I can put the rest of my funds in. Don't cry for me if it goes to 0, it's only money lol
It's too late to be careful now ha ha.
Well it is not really about profit for me, it is about break even. I am dumping the rest of my money in when trading begins in an hour. That will be 100% of my assets invested in this, and if it is around 18 area, my costs basis would be 30. I think we can hit 30 next week, but if we go back down to 10 I am sunk.
I will have every last cent in there at $30. I am thinking Europe will test February lows, and with futures in backward curve, I am seeing a good chance this opens this morning pre-market at 18 and goes to 30.
Then I can minimize the loss. I think that is quite possible based on our past experiences. Wish you all well. I really need it.
But you are very astute and smart, and I think correct to say that- I think the minimum move will be 150% off the low on UVXY and max move 300%- so could be anywhere from 25 to 40 on this spike.
I kind of think you are right. I am so jealous of the folks who just bought lately. It's going to be so hard for me to get out at 40. But I will really kick myself if I sell at 18 today and then it goes to 40.
Well I am not one to talk about wit considering I need UVXY to hit 40 to break even! Going to be tough for me I think, lol
Am I crazy to think this is going to $30+ in the next month? I think between the major uncertainty about the Euro area, plus the backward nature of the futures curve, we could see a sustained move in UVXY. I don't know if it will be like 2011, which would put it around 60, but that move also came out of Europe issues. The move in August was fits and starts, I think it went 24 to 60 to 40 to 90 or something. I believe this will hit at least 30 and probably 40 in July. Am I just talking crazy? There is just so much uncertainty.
I just want to say thank you for your posts over the months. It has helped me hold long and strong to my UVXY position. Now, I did buy at $40, so I will still be down at today's open, but it looks like this could be a multi-week move and really take us to 50-60 areas on UVXY, and I guess 10 on TVIX.
But the other two were 300%, which would put it about $40, and 600%, which would be $50.
Looks like 18-19 area.