pissy...I believe we did, come to think of it...not mention belonging to the same congregation at the Church of Immediate Gratification. Hey, you and the others,should have prayed a little harder for me day before yesterday. I bailed in early pre mkt at 2.34 breaking even and that turned out to be the hod:-) Anyway, bought a little at 2.03 yesterday and sold too early and here I am looking at pre mkt prices at 2.10/2.11 and thinking about it. I think I'll wait for after the open and see if I can't get something closer to 2.00 to get back in. TNA huh...nice run for sure. I was in XIV at 25.12 but let go too soon. One of my trading legacies. It has saved me from some losses, but have also left quite a bit of $$$ on the table. CTP...had some at 3.63 and sold .30 later...now look at it...over 7.00 now 2 weeks later. Feeling the market getting topped off now...we'll see and I'll keep you posted. Namaste:-)
I bought TVIX at 2.26 just before the open and immediately sold it. I realized it was a poor decision right away as the market waffled around trying to decide which direction it was going. These days, whenever there is any doubt about it, it will go up. I was in my measly cash account looking for something I could DT with settled funds and TVIX was the worst possible choice. No harm done, but jeez, what was I thinking. See you all around when this bull run turns around.
Folks, stayed up until 4.00 am and traded out of TVIX at 2.34 breaking even and will sit on the sidelines on it for the time being. Had a feeling there wouldn't be that much gas in the tank.This is a market that will not be held down much at all in the foreseeable future, volume is down and it had it's run. May revisit again if things heat up, but if this is the best we can do following the last 8 days of an up market, then the party is over for the short run.
dude...30K and you held while the stock was plummeting? I'm sorry for your loss too, but it's not like you didn't have endless opportunities to get out with a nice profit. For someone who has left a lot of $$$ on the table due to a butterfingered approach to trading, I can't fathom this scenario.
No resets in this biz. The day of reckoning will come eventually. Not going to say when, but it will happen based on simple economics and the global financial mess we've been in for quite some time already.
I'll hang with logic for as long as possible. It's been a very illogical market of late, I'll give you that.
Nothing has really improved, pissy. They can spin it anyway they want, but I too an bearish on the general outlook and will remain that way despite pumpers to the contrary
Yahoo Finance says volatility to return to the market. Good news for TVIX holders IMO. The trend may be down, but the volalility will give all of us a chance to either recoup losses or profit if you are positioned low enough.
I would never buy XIV right now, ggray. At these levels, TVIX is still the better gamble short term anyway. Anywhere in the $2.50-$2.60 range would be just fine with me at this point. Just looking for a simple, reasonable market pullback after this recent run. I also understand reasonable is often not what the market does, but I'm betting on a pullback this week and some more anxiety producing world economic or Islamic terrorist news. G*d how can anyone watch the news these days and think any of us are going to get out alive, let alone think the market is just going to do nothing but go up, honestly.
pissy...not sure I understand the "lead us to the bottom of TVIX" part of the prayer...hope we're already there...but I like the bundle of cash part, so thanks for the prayer...I think:-)
Agreed, and there are those foolish enough to think the market will continue to march upward unchecked and uncorrected. A squeeze would be most welcomed after the battering TVIX took last week.
The scary thing is how manipulated the market is. In theory...if basic economics are taken into consideration, the market would be valued much less than it is currently. It has become the dumping ground for international funds because it is seen as a safe haven for where to put ones money and make anything with it, hence the ridiculous pumping we see. It does intimidate traders that are positioned poorly, to say the least, but in fact if all of those holding TVIX...even the ones that bought and have held from much higher levels...waited 3-6 months to a year, they would most likely see a nice return for doing so. That's assuming reality must be faced eventually, but living in a country where you can print your way out of any reality call, keeps the can securely kicked down the road. Whenever the USD ceases to be the worlds reserve currency and we return to a gold standard or some such change, THEN we will be forced to face the ugly truth of our impossible debt load and out inability to even pay off the interest on it.
Pissy...you're back already:-) Man, if you're betting the farm on this thing I can see where it gets hairy and worrisome fast. Typically, I would hold maybe 2K on TVIX, but have found myself 2X down trying to catch a bottom...which seemed bottomless last week. I'm currently holding 4500 shrs which is a big load in my book and with what I'm working with. Another thing is, why don't you ever consider a stop loss? You and others posting here have gotten WAY down on your positions and I'm wondering to myself how you let this trade get so far out of control...especially if you have so much riding on it. Having said this, it is still my contention that TVIX will rise over the $3 range again, but it may take awhile and weeks like this last one would shake out even the tightest of grips. Cut bait and wait, is a better strategy when the momentum has obviously shifted. This next week will be interesting. It won't be such smooth sailing for the S&P like this past week, I'm thinking
While the hypsters and zombies are throwing their money into the stock market, I'm scrambling not to get crushed by these continuous, unwarranted daily drops in this ETF. I think I've done better than many posting here, but hate the stress. I think a temporary bottom is in and there will be a pullback before nightfall, when all of the walking dead return with their fingers on the trigger to keep the insanity going. Let's see how this impending oil strike affects the market sentiment Monday. One thing is for sure...not a new realization, of course...that common sense often has little to nothing to do with market movement.