He said he was going to sell at the first sign of a turnaround? So he left himself with 2 scenarios: letting it go to zero or sell as he witnesses a company bounce back... Now he buys GM on the premium. This overreaction will dissolve quickly.
The company isn't going bankrupt wes. Don't give in to the false anxiety created by subjective price targets. As I've said before with this stock, bad media is having diminishing returns. You have consumer soft sales projected higher this holiday season due to lack of Congress turmoil in December, the pending announcement of a new CEO, and the upcoming q3 results later this month.
All the players are still here... Wes, dns, mattcarl. I wonder what happened to Nefarius.
JCP has been as important as the ETF this board was meant to be for. Why? Maybe VXX going down is not really debatable. Otherwise, I'm long JCP. I feel the dilution is factored in. Rumors are manipulating the downside trend. Now that Washington is out of the way, there is one less negative short term macro factor. A new CEO announcement and positive guidance as a risk for short sellers. But then again, it has a 45% chance of bankruptcy according to macroaxis and credit issues will continue to be a burden in the near future. I don't mind going down with the ship though.
In a few more months, VXX is going to split once it hits single digits. I can't wait!