Raybans is sitting just fine. He doesn't short with much of his portfolio, which allows one to ride out temporary losses. My last short was at $3.1 and Average is around $3.6. His timing and his cost basis is much better than mine, and probably right around where it is trading now.
“So the unwanting soul sees what's hidden, and the ever-wanting soul
sees only what it wants.”
One thing is for certain, the October 2014's will expire worthless. Another thing that is for certain, it will be difficult for this trade to work, after all of the value lost in SVXY in the past 2 trading sessions.
I figured you would have gotten in today. How do you own SVXY in your IRA's, are you buying the common or options? I'm buying out of the money Jan 2016 calls $80-85. I plan on using calendars to decrease the cost basis for the first 9 months, and then spreading for the last 6 months.
Short the market using all leveraged products, while short Tivx ... I like that strategy. As long as everything is properly balanced ( it would take me a while to figure out the percentages) you will do well almost no matter what happens. You should call this the John Galt portfolio. Good luck man.
I agree it's not too late. On August 1st the Vix closed at 17.03, and Tvix closed at $3.8. 3 weeks later TVIX was $2.66. Yesterday VIX closed at 17.2 and TVIX closed at $3.4.
It is a tracking ETF, plain and simple. It's price will follow it's NAV. It does not track the VIX. You wasted a lot of time coming to your conclusion.
Better run that by your husband first. Show him a long term chart and explain your thesis, and see what he says
I can't believe you lost the faith man. I'll admit I didn't short any more over $3.1, but I've never covered a share. Bought some XIV in my IRA though this week.
If you chart the Vix vs TVIX (yes I know they don't track each other), On August 8th, which was the last time the VIX closed 15.77 or about where it closed yesterday, TVIX was 3.82. I also just checked, yep the contracts are still in Contango. Enjoy your week of green.
Are you sure it didn't start Friday when it hit $2.5? Do You know what the last time this turd doubled? Well it kept going up, doubled again and kept going up. It actually went up about 1000% from the bottom at one point. Then 1 year from the peak, it had lost 98.7% of it's value. I hope you are better at timing this than the other thousands who have lost nearly everything in this thing.
You holding this in your portfolio is making me rich. I appreciate your contribution. My wife is going shopping on Friday and picking up some new shoes courtesy of youbgone. Thanks
I noticed there were a lot of new names popping up lately. I love these fresh fish. I almost feel like the casino owner watching someone think he/she can beat the system, when the math just doesn't work in the long run.
"IF YOU THINK THE FDA will increase interest rate , you are making a big mistake"
I believe this is an unintentional statement, which is 100% accurate. LOL