well, I've made as much as 600% on them some weeks, and there's weeks like this where they go worthless...way overdone to the upside, but no reason for anyone to step in front of the selling I guess. oil is way overdone again, good to see my big oils holding up.
ride the Elliott waves with a giant candlestick! way overdone selling now. thought we'd get a steep selloff to reach this 2,050 area on the sp500, now we bounce back to 2,100.
it's 99% certain this falls. the 1% where this doesn't fall is if the vix futures somehow remain in backwardation indefinitely and there is zero variation in price. otherwise, it's the worst product around and should always have a short position against it. I have march puts. I play weeklies like today and wed. I used to short it, but too risky. twice burned pretty bad, thank goodness I hedge, but this is still the easiest money out there.
if you are long this, sell it right now. when you understand the product, place your bet. there is not a direct correlation between uvxy and sp500. I've been here since inception of this and tvix, and I've seen big negative days where uvxy was negative, and I've seen positive market days with uvxy positive. the vix futures right now are extremely elevated compared to spot, so you will see a huge selloff in uvxy in the next week or two. I expect single digits by march. do your research and don't lose money on this. use spy puts if you want to bet against the market.
selling my puts! big winner! letting about 25% of the profits ride through tomorrow morning... two weeks, two major gifts! how that the cubs are out of the playoffs we probably won't get any more giveaway spikes since those cboe boys won't leave the "pits" early again!
listen to this guy. you don't get long vix after a super spike like we just had. the bleeding goes on for longer than you can imagine. any spike through Christmas, buy puts!
wrong. you're resetting 5% higher, still above 17 on that forward contract. futures will trend down through thanksgiving. the end of the world is not here...
so, I hope some of you fools followed me...any strike more than doubled already, and there's more downside to come over the next 24 hours. vix longs yesterday are going to be looking for the exit around the close!
Svxy isn't leveraged and both suffer from price decay due to daily reset, plus backwardation kills the inverse like we had durin sept
I've been here for a few years now. king is annoying but he knows what he's doing, even though he's wrong, he survives. I warned everyone to buy calls on their shorts and they didn't listen. very few people left. longs always lose, so they come and go. the shorts that were stupid were fried. buy some puts way to march, way out of the money, enjoy the decay! contango is back in play too, so this thing will see single digits by march expiry. market sellers exhausted themselves in September. fears were way overblown, oil is not going to $30 with rig counts down 70% now. once oil shortages are the norm, you will see heavy industry get rolling again. Saudis can call it quits on their stupid policy because they've damaged the world too much.
currently futures will be pegged at 16...if you didn't make your money in here short already, the chance of squeezing another 20% the next couple of weeks is remote. march puts are looking good, svxy is liquidated, if you're following me! long big oil. xom target $100, cvx target $115. let's keep making money survivors!
you looked at the chart of this? you understand the product? there can't be any complaints. next time buy some spy puts instead if you want to bet against the market. the manipulation to the upside in here today is what I found interesting...should be under $31.
what's fair value for the value of all of America's corporations? zero? S&P500 at 666 in march 2009? maybe as long as dollars aren't backed by gold, nothing is worth anything, right? uvxy is a giant piece of trash, the pain has only begun. sub $20 by year end.
yep, already sold half for a double, just sold that half for another double! and riding the rest to $31 handle today and selling the rest for another double! that's how you make money on this garbage ladies!