he is a liar, never made a dime off Ford. And he has been losing big time on GM, especially when you add in the dividends he has had to pay out. When this is $273 per share he will be bankrupt, in fact I think a move to 40 will finish him off.
dude- all due respect... if you think there is any chance they open up, you are truly delusional. Everyone assumed a yes and a quick settlement.
The world is truly in turmoils right now, at this time. Europe is still in a bad mess. China is blowing up. I think a 20% drop in US stocks is coming. 20% for S&P from the peak and we are at a still overvalued 1730.
The reason I posted about it is to help people avoid what happened to him. I don't know if you paid attention to his posts or not but he was red hot for a while, had really put himself in a position to have a nice life. Now, he not only lost all his profits, he lost his original investment *and* he is in talks with his broker about how to go about liquidating his inheritance property to cover the losses.
It's cruel because they took him out at the open Monday. You never expect that kind of VXX gap, in fact it had never happened. Now he not only has his future wrecked, he gets to watch VXX go back to all time low soon and can do nothing about it. Like you said, need deep pockets. If this keeps just one person from the same fate it's worth it.
Good luck girlies!
We warned him repeatedly not to sell calls on UVXY. It was making him nice income, he was taking his lady out for nice meals, having a great time. The move today was so fast he actually has a negative account balance. Careful out there folks.
I can agree with this- it is absolutely ridiculous how much UVXY went up already on this nonsense, and it should not go up next week even on a bad result. However, this is the long awaited excuse for the big correction. We have seen 2 corrections since 2011. First one TVIX up 600% second one TVIX up 400%. Place your bets gentlemen- I think a crash is coming.