i don't know of any brokers that won't "allow" you to short. However, most brokers don't have shares on hand to lend you for most tickers ~ you have to borrow shares from your broker in order to short. Then you buy them when you want to cover, and return them to the broker. You need to ask your broker if he has a "short lending desk" and if he can go out and borrow the "neg" shares for you from another broker. He probably can, because TVIX negs are easy to get. Your broker will charge you 3 or 4 percent per year to hold the negs for you. Once you have the negs attached to your personal account, you can short and cover at will. If you ever change your mind, you just inform your broker so he can liquidate your negs and stop charging you interest. Interest is paid "mark to market" against the daily closing price of the stock.
I think what he meant is "it doesn't matter" as far as the US stock market goes, and he's right... just a hill of beans. Of course it matters to Greece, and the 10-point "austerity" plan the EC published on Sunday, as a PR move "for the information of the Greek people" has some very weird stuff int it, like a 23% goods and services VAT, and a 13% tax on basic food (supermarket) and drinking water. If anybody tried imposing a tax like that on US citizens, you can bet there'd riots in the streets; the revolutionary war happened over less than that, and in 1775 i doubt we had a 26% unemployment rate like they do in Greece today. What do you do if you're one out of four Greek adults who can't get work, and they just raised the price of food and water by 13%? The Greeks have every right to balk at a deal like that, except... well, they don't really have a choice do they? They can have a referendum if they like, but in the end they will have to do business with the Europeans again, sooner rather than later.
believe me bum, i will short the shyte out of this if it climbs back to buck tomorrow, and start accumulating a short position either way... the window is small, so i prolly won't get my $1 wish this week, but you never know. even 90c looks good to me as a entry point now.
if your talking to me ray, i bought on monday and sold on tuesday, and that is the longest position not short i've ever held in TVIX. today i shorted at $9 and covered around $8.80... i'm regretting that now of course. i really thought it would bounce to a buck a couple more times before friday. there will be other ops... long term, it doesn't really matter what price point you initiate a short position with TVIX. You want to max your profit, of course, but you can't really go wrong shorting TVIX as long as you're patient.
Did u actually understand that? i sort of did, i guess, but i think i got confused whenever he switched from a 12-hour clock into military time... that's where he lost me.
they just added 14M shares to the float ~ google this: WPCS Eliminates All $1.7 Million of Unsecured Promissory Notes
yeah.. i was originally thinking TVIX could hold into the referendum (like so many others here), so i didn't load up my negs. later i realized the ref was just anticlimax, but by then TVIX was already down around $9... i'll keep my fingers crossed for a dead cat and maybe initiate a short position north of nine.
sorry rick. i had intended that comment for mike. but now that we're here, i don't see exceptionally especially bad news in the greater context. small countries have often defaulted on IMF debt without causing faraway markets to crash. Brazil's nominal GDP for instance is 30x greater than Greece, and we have far greater exposure to it, but a spate of Brazilian defaults never even nudged our markets. We have virtually zero direct exposure to the Greek economy, and the debt is easy for the ECB to write off (worst case scenario).
Furthermore, to suggest that Italy and Spain will default just because Greece did makes about as much sense as saying Chile will default because of Brazil or, because my neighbor is a swinger i'm joining a soccer club.
Or you could buy AMZN for $435/share... Amazon has debt; almost every company has debt, but amazon has huge operating losses as well (nearly half a $ billion). But Amazon has a good marketing formula that should pay off in the long run.
well, that sounds like a big problem for Greece, a major annoyance for the EC and ECB, with minimal impact on US markets. The Greece pump, i'm afraid, is all tapped out as far as the S&P is concerned. Next stop, Puerto Rico.
rick west ~ it's not an election year. in fairness, i've seen dozens of guys on this board posting the same thing this year, but presidential elections are in november 2016.
don't think sunday matters much to US markets, except for closure. the default is done, and this was the total impact of it ~ mostly emotional. sunday, the Greeks will vote one way or another... either way is just a relief valve for us. all other things equal, either way they vote is good news for the S&P.
Greece was never a major economic or market threat. most acts in this tragedy played on investor sentiment. the sunday referendum brings final closure, and then it's back to biz as usual.
I know the feeling. They bring their emotional baggage form other stocks and generalize it to TVIX. they then presume you are a basher hired by sinister forces to keep this little little gem from blossoming. "A paid shill."