You jinxed it :(
But yup, kind of disappointed to see nobody roll through here anymore. But on the bright side, no more spam or "Jumping up to $10 in 2 months" posts to worry about.
Was hoping it'd hit back into $2.20s so I can finally cash out for good with a decent profit... But of course the market completely cancels out yesterday's big day, and TVIX sits a good 2-3% off those marks.
Hopefully you didn't plan to short for long because you picked your first short for this to be after like 17 straight days of the market being up... You left basically no meat on the bone to ride down. These past few down days have amounted to pretty much nothing combined.
It's ok for the quick n out, but it literally makes no sense... Every index down, VIX up, VXX up... Yet TVIX down?
If market keeps tanking and volatility keeps spiking it'll go up... Decay just means that this is a DAILY trade, not one you want to hold for more than a day or so. That's when you get raped from here to Bankok.
If you use TVIX as intended it's not a terrible hedge, but when you get people crying over it, it's 99% because they assumed you just buy and hold.
Or you could just learn how to re-adjust your portfolio. Plenty of sectors are foaming at the mouth waiting for the rate hikes. And companies have spent these years re-tooling so they are prepared for the rate hikes, it's not some blindsided announcement when it finally happens. And really now, the rate is going to go up a minuscule blip... What'd you think it's somehow going from 0% to 10% overnight?
The interest rate hike will be the catalyst that bring things back to where you can't just pick any random stock out of a hat and hit a winner. Unless you've planned your spots and reallocated, then you'll feel the burn when it comes. Banks inch higher every time whispers come out that it's soon, while every other sector takes a hit.
Or not... I read about what I invest in first, not go blindly like most on here somehow do. Yet no matter how many times me or others tell people this isn't a hold stock, they disregard it and then reap the losses.
You pick spots to enter in TVIX, not hold blindly.
Haha lesson learned, and it only took a gigantic loss for most of you on here to figure out why 1-2 days is the max for holding.
Now it wont simply be a decent green day that gives you solid gains, you now need a miracle and a half to dig yourselves out. Sadly some people probably praying for WWIII right now.
Still holding strong too, and yup it's turned into a wasteland on here haha. Last quarterly report was awfully nice to read, basically no energy holdings/loans making it one of the few profitable banks this quarter. Can't complain with hearing that bit of info moving forward.