One day there will be a liquidation event as specified by ProShares and anybody invested will lose 100% of their investment. Until then, enjoy.
A few points for you. First of all, there is no free lunch. Ever. If this were the guaranteed money maker you think it is, hedge funds and other managers with deep pockets and number crunchers would just be investing in this and crushing the market. It works until it doesn't. In 5 years SVXY will be significantly lower than it currently is because there will at some point be a spike to 30 or 40 on VIX and a period of backwardation.
Finally realize this product has only existed during an incredible, artificially propped market rally. How will it act in more normal times? We don't know but I expect it will be ugly. A swift 15% correction over several weeks can hit this for 80 or 90% or more. It could even cause such a drop that they close the fund. This can happen remarkably quickly and without regard to your stop losses. Something to keep in mind. I suspect some people here will lose all their profits and almost all their principal besides.
It better go down more than 400 for this turkey to hit 17. My guess is it will never even hit 16 again and be $9 by Christmas and under $1 split adjusted by December 2014.
Sad thing is some retail longs probably bought in because of his pumping and lies. The good news is he is now bankrupt and will not be seen here again.
Ha ha ha ha!
Come out and play.
I'm gunna keep adding all the way down to the short position. The Dow should be near 100K in 4 years or so.
Can't believe anyone would ever, EVER, EVER bet against this market. We are looking at a golden age for equities, 20-25% per year gains for 10-15 years, and 99% annual drops for UVXY.
No chance. Remember they've now cleared the air and started talking, showing eventually there will be certainty of no default. For this to go back up you need panic, I hope you don't get it and I expect that you won't.
There is no way when push comes to shove that the US will default on its debt. Time to sell UVXY.
Could be a 2000% gain by tomorrow.