Enron? OK, whatever. I've been watching this play for over a year now, and it gets old. The few who paid attention, and performed the bare minimum DD, were able to cut their losses. As for the rest, who cares?
The note is intentionally designed by CS to retrace to zero, although it always does a reverse split before that happens. So yes, it can and probably will go lower; anything else would be a surprise to me and, more significantly, to the engineers of the note.
Here you go, straight from the TVIX prospectus: "The long term expected value of your ETNs is zero. If your ETNs are a long-term investment, it is likely that you will lose all or a substantial portion of your investment.”
Now go read the prospectus before you lose any sleep and "all or a substantial portion of your investment".
I agree with the "law of averages" although i must disagree with your conclusion. For instance, if the sun risen every day for 2.5 million years (since a meteoric impact that blanketed our atmosphere), probability dictates it will rise again tomorrow. Similarly, if TVIX price has eroded almost every month since its inception, one can assume it will continue to erode.
yeah, i don't waste much time looking at it either. I have a GTC to cover at 45c... if it splits before then, i'll just play it by ear.
Used to have to hit the high end of SnP trading range (2130) to push push TVIX back at its latest 52-week low. Now it just dribbles down there of its own volition. Nothing has changed - weekly dilution is the TVIX norm.
There seems to be some bad blood here, and a lot of opinionated over-posturing by a gobbler's gaggle of spiteful little men, annoyingly sensitive to any commentary about their relatively insignificant positions.
I ain't no lawyer, but i doubt if there is any class action remedy here. Credit Suisse makes full disclosure and prominent disclaimer throughout the TVIX prospectus. It clearly states that the note is intended for daytrading only, and only by sophisticated traders. The prospectus also warns that the absolute value of the note is zero, and that anyone holding the note long enough is likely to lose most, if not all, of his/her investment.
Technically Mr. Mayor that wasn't a spelling error, thus his browser's spellchecker wouldn't have picked up on it. The error might fit under the rubric of "vocabulary issues" more precisely - ironic given that douglasstein is regularly inclined towards pejorative commentary on the educational foibles of other posters.
Steven is a cheerleader, as he pointed out, and none of that stuff really matters to him. What counts is keeping his tights on and his leggings up.
You need to take a few deep breaths. You're getting yourself in a frenzy again. Where is getting-it-way-up when you really need him?
It also has strong support at about $3.20 (up from $3 where it used to land) and slow, deliberate momentum albeit low volume. Not a lot of volatility.
So you are steve528100 of Normandy France and east Bumf**k Missouri that everybody's been talking about? Finally we meet. I can't to tell you how honored i am. I guess you and getting-it-way-up must enjoy pulling each other's little chains every day.