You might still get a shot at $18 between now and end of month. The VIX was all over the place today... sept futures running from 25 to 26.5 ~ still in backwardation i think. interest rates are the new greek drama.
i'm seeing 33M shares, now trading at $3.15 ~ market cap is $104M.
LOL indeed ~ i'd guess you are just playing stupid, to try and change the subject, but at least one of us it isn't actually a ruse. "Daily 2x VXX" it is, from now on. i concede.
You "gave me all the info" over and over, and over again ~ your keyboard be stripped raw. Meanwhile i have texted a buddy at CS to advise him they must change "Daily 2x VIX" to "Daily 2x VXX". Goldilocks has spoken!
This is where we began an hour ago (before goldilocks started beating it into a dead horse):
"I see you still don't know the difference between VIX and VXX. VXX is down 7% - TVIX down 14%. Exactly as it should be." ~ clearly advising us to watch the VXX chart in order to gage TVIX price movement...
Now was that you goldilocks, or was it another fool thieving your identity?
Don't worry your pretty little head about me goldilocks. You can help yourself by shutting the barn door b4 you make too much of a fool. Or, just keep watching the VXX chart to make your TVIX trading decisions... i don't care one way or the other.
i don't even know if it's worth my trouble responding to you... i have read the prospectus in detail, now you should glance at the title of this board, the part where it says "Daily 2x VIX". Note it does not say "Daily 2x VXX". Now go back outside and play with your marbles.
"I see you still don't know the difference between VIX and VXX."
TVIX tracks the VIX (which is an index). TVIX does not track VXX, which is another exchange traded note, although they are somewhat correlated... goldenbear, you really don't have any idea what's going on.
i ain't buying any of that superstitious milarky. TVIX popped briefly, in contrast to the usual, and anybody who was long these last couple weeks got very lucky indeed. It's beginning to look like that tiny bump in the TVIX lifetime chart has already run its short life, and it's back to biz as usual. On the upside, VIX futures are down 9% today, and TVIX has only shed 14% (so far).
i only have a few k short on this round (post greek ref) so i won't bother covering. i don't believe there is a recession coming, and the correction will stabilize eventually... it doesn't matter if the market finds a stable position somewhat lower than the highs of the year. Once the VIX falls back under 20, contango resumes and TVIX shoots back down the crapper.
You can't have double digit GDP growth indefinitely, and the pattern we're seeing in China is the same as we have seen in every other maturing BRIC economy ~ Japan, Korea... It begins with astronomical GDP growth rates that stabilize into single digits as the economy matures. It's just economic nature following its course.
Of course Canada in recession ~ it's a commodities economy managed by 20th C conservatives who think industrial diversification is a leftist conspiracy and global warming is a scam. Japan ~ barring tsunami, and other acts of God, it's the most stable economy on the planet. China ~ since when is 7% GDP growth a sign of "crashing"... i think the word you were looking for "maturing". The consistent progress we have seen in the US economy since the Obama admin tore the reins away out of the trembling hands of a few babbling old dinosaurs, well that can't be for real... another conspiracy no doubt.
Hard to make any sense of the VIX these days. What? Shanghai stock exch is batty ~ of course it's batty; it's in China. The FED might raise rates 1/4% and that will spark a recession? No. Sept 1 came and went and the FED hasn't raised rates, so the market rallies... eventually all the muppets will figure out it's going to happen around the middle of the month, if it happens at all, and markets will gap back again. Only one thing is reasonably certain: without a cataclysmic binary event, markets will stabilize eventually, and TVIX will flush itself back down the toilet.
could be... VIX futures are falling significantly faster than realtime VIX (onn the other hand, it could just be a market blip). It was always just hype anyhow: a quarter % interest hike isn't going to shatter the market (whenever that happens) and china isn't actually crashing and burning either. Factory orders up, GDP improving... you can't always fan a barrel fire into a major forest fire.
Somebody (prolly bonanza) bashed me yesterday saying: "beachbum was right all along" and i just don't see it, cuz beachbum was holding shares north of $50 - that's what usually happens to TVIX longs sooner or later - and it's starting to look like they're about to drag the fat lady onstage for a medley.
if i were inclined to adopt any sort of long position in TVIX and i'm not), i'd say holding to just before the FOMC meeting is reasonable strategy. Shortly after the meeting TVIX will likely head back into contango (even if the FED does raise interest 25 basis points).
Been short for most of a year (covered in June at 81c then went short again on Greek ref and have added twice since then). If i could predict short term market action, i'd have been better off covering at $5, but experience has taught me to have patience, and TVIX will eventually trend back to a reverse split.
OMG ~ Maybe it will or maybe it won't, but that has nothing to do with the question. The question alone makes me want to laugh out loud (LOL) and that must be what they mean by "better lucky than smart (BLTS) ~ bacon lettuce tomato sandwich.