One other thing...people have good reason be be afraid. The market is still overvalued despite all of the selling since the New Year and there are just too many headwinds to feel confident being long this market, period...with all due respect to Mr. Bowman and Motley Fool
I wouldn't touch XIV with a 10 ft pole right now. Market is still overvalued and the world is really in more economic crisis than people realize imo. Oil is also dropping and the market will go down with it...just like it went up on all the OPEC speculation today.
Going back to 10 imo...futures leaking like a sieve...oil dropping like a t*rd...all bs today with the rebound, bet hey...glad to pick some up at 9
I decided to sideline it for now. Lotsa folks selling last minute in ahs...me included...not liking ahs action as well. Also, why is NG dropping like a rock from it's highs today in such a short period of time, if there is an expected big draw tomorrow? I've had enough surprises with TVIX for one day
Gentleman...start your engines. Tomorrow is going to be a juicy buy opp. Mid 9s would be nice. but may not get there. Depends on how exuberant the market gets tomorrow after being beaten to death since the New Year.
Took a bath on this pos today. I loaded heavily going into the draw and paid the price. Should've seen it coming based on how price was moving leading up to today, but expected a draw over 170 today. Don't know what to think about NG anymore...gonna be licking my wounds and keeping a safe distance
wondering the same, william. It did trade up into the mid 2.30s today. If I had been at my puter at the time, I probably would have taken it, but instead I loaded up even more for the report in the low 2.20s, when I saw it had fallen off. Got my fingers crossed for a good draw tomorrow, that's all gotta say
Perhaps not, nova...not if reason and true market valuation have anything to do with it.
Hey clearwater, you think all of the above mentioned alias's are the same person? I for one have emailed electrowing, so you can cross both of us off the list. Anyway, thanks for including me on this astute list of traders. I'm sure all of them are MUCH more successful at this game than I am!
pigmy, ouch...that is a sh*ton of $$$ to lose! A lot of folks lost money stubbornly holding onto it, waiting for the day/days of reckoning to come. Are we at that point, yet? Next week will be very telling. I'm interested to see what kind of a bounce this market will get.
There will be a bounce, but not nearly that much, imo. I expect mid 100s if anything. At any rate, I'm still gonna load up on TVIX at or under 7.00. Not sure about oil, but your entry at 1.70 sounds good for a starter position.
Will be all over TVIX on any drop, jw. I totally screwed up and let go of TVIX yesterday and am really kicking myself for it. Missed the low of 7.60 after the jobs report, but bought in the low 8s and was thinkng to myself, they won't let the market go red today...got spooked and bailed. Gonna take the whole weekend to shake that one off. I know...there will be plenty of opps to get it right later, but this has happened too any times in my case. The courage of one's convictions can be both a blessing and a curse at times too, as many "holders" of TVIX can attest to
Although, I agree that we are clearly in a bear phase, this projection is just clearly over the top for next week. We may get there soon enough, if current trend and sentiment prevail...as well it should. Bubbles were meant to be popped and the air is halfway out of this one. Amazing how the Fed kept it inflated for 7 years!