Are you still long this? It could possibly drop under 19 tomorrow if Bernanke says what the market wants to hear.
How did SPY go up over 1 dollar after 1pm, and VXX only dropped 6 cents?
Shorts would have plenty of time to get out before losing 200%. Once this goes into backwardation then shorts should think about covering.
I am not holding long. I am just doing long and short daytrades here and there. Not sure if this is a minor pullback or the start of something bigger.
Just remember what this thing is. I see SPY has re-touched the day's low in AH, yet VXX is still at 21.20, not close its high of 21.45.
Yes VXX is due for extended backwardation, so maybe this is the big one. Or maybe not. Like Wes said before, even in 2011 there were wild swings, so it's hard to imagine anyone actually held all the way from 18 to 55. If you have a 100% profit and see it drop to 50%, most sane people would lock in their 50% profit and miss out on the 200% profit.
How do you hold VXX for so long and watch it go from 21 down to 19 back to 21? You aren't afraid to lose all your long profits?
14 by July, no way. Look at how strong VXX is right now. If the market has 40 straight up days from now to the end of July, VXX won't go down because people will be buying put protection again.