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I might have guessed wrong today which happens
I'm in 150 shares AAPL at 546
out of TVIX right now
in HOV this one could breakout
Interesting article on volatility ETFs and VIX futures.*
By Dave Nadig and Gene Koyfman
http://www.indexuniverse.com/hot-topics/11183-volatility-etfs-often-own-all-vix-futures.html?fullart=1&start=4
Quoting from the article:
"Since we’re constantly defending the ETF industry as being “too small to be a systemic threat,” we initially assumed this was no big deal. But then we ran the numbers on the actual open interest in VIX futures:"*
"To be honest, our initial reaction here was “holy cow!” "*
"Why is this a problem? Because it’s entirely game-able."*
"They can bid up the price of the second-month futures constantly, and depress the price of the front month the closer it gets to expiration. This creates a kind of inexorable contango maelstrom, which is brutal for long-holders of the ETFs."*
"So how does this all tie back to Credit Suisse? Well, looking back at the past month, ask yourself this question: Would you want to be the only buyer in one of the most volatile markets in the world? So, is it any wonder Credit Suisse called “uncle” and decided to stop taking new money?"*
I bought AAPL long at 440 -I sold that POS at 525
I look at the pre market price and go on instinct. yesterday you could of been swinging in and out for 2 to 5 point gains all day.
The market cap on this company is beyond thinkable..
Yes you are correct When the Crap hits the fan and it will always does this will go up faster than UVXY I bought Tvix for to hold long Uvxy in and out each day making about 700-1000 a day
I think it will be more explosive with the premium.....in other words, it will run harder because there is a lot of demand for it....when the correction happens and it will tvix will be the stock to own
TVIX up .72% and UVXY down 3.51%
Anyone have any guesses as to why? The pending Reverse Split?
Hold 5K shares - day 2. Looking for 6.75 as an exit.
devils. technically, how do you trade appl?
I can't buy & Sell AAPL fast enough.. ouch- my hand .....
OUCH!!!!!
My precious metals took it in the azz I was up 20g in Sliver and once again I got slaughtered. I never learn pigs get slaughtered. I still came out ahead $335.35. I could not dump my shares fast enough. I just jumped back in TVIX 16.62
DOGMA
I listen to things all day while I sit here watching the market and today I heard corrections coming of between 5 and 20% and I agree! That is what I am holding for. GLTA Go TVIX
Devils, I prefer TVIX but will be buying both. One of these days these two will be the place to be...but when? Good to trade right now as you obviously know...GL with the trading.
So what's the better play- I would think TVIX ??
Devils, UVXY is NOT lagging because of the coming split..UVXY is doing what it is supposed to be doing. TVIX is trading with a premium because CS stopped issuing shares...if they didn't do that TVIX would be trading at 14.03 right now....type in TVIX.IV in Yahoo and you will see the "true" value of TVIX...what it would be trading at without the premium.
I sold TVIX and UVXY on that pop this morning
UVXY is lagging cause of that R/S coming
I would buy the dip here on TVIX again
did anyone follow my post on AAPL last week ?
you would be up almost 6 K if you did
Yep. But you may not want to take financial advice from someone with the handle BigDummy :0)
well i dont know where everyone gets there money from? it s seems like everyone on this site has money like its growing on trees or something.
You Pattern Day Trader you!!!!
LOL
I can day trade all day everyday.
I believe you can trade all you want if you have 25k or more in your account...and you have to have at least that amount everyday when you start trading or you will be put in timeout. If you fall below the 25K minimum you have 5 business days to deposit funds or again...you get a long timeout.
How are you day trading this so much when you can only day trade 3 times per week?
Wow - this time it took a full running start and it still bounced off that 17 wall like a wiley coyote ("boing!"). It seems to be alot thicker that I assumed considering all of global economic factors floating around, and Bernake opening his mouth again this morning. Reminds me of how certain micro stocks behaved against a tough resistance wall.
Veeeeelly intelesting....
There it goes market turned and now is moving up time.
Good Move -IMO
TVIX trying to sustain hard today.. if we get the 10:30 am pullback we are heading to 17+
I also bought UVXY 500 shares @ 5.49
Let's see..!
Bought more shares of TVIX for $16.52*
My "March Madness" money came in early, so I added it to my account. For what it's worth, I was able to buy more shares of TVIX, on a market order, for $16.5199*
I hope to sell with a limit order for $19.90*
I will be keeping most of my shares for a greater price rise, but I want to trade something up and down, at least monthly.*
I would be doing more than that, but I am just learning the market, and I only have a small amount invested. More frequent trading is not possible at this time.*
TVIX
back in at 16.47 pre market
hopefully we can day trade this back & forth like yesterday. my first limit is to sell @ 16.90
let's see what the GDP brings at 8.30
A lot of data for wed. Hopefuly some will go our way
Does anybody have a spare money printing machine my broke.
Buy the precious metals stock.
DOGMA
UVXY reverse split is explained by Olivier Ludwig.*
http://www.indexuniverse.com/hot-topics/11125-proshares-to-reverse-split-vix-etf-uvxy.html?fullart=1&start=2
Quoting from the article:
"By the looks of it, UVXY continues to be the beneficiary of halted TVIX creations last Wednesday, and in a big way."*
"UVXY’s assets under management have exploded upward since Credit Suisse’s decision. The Swiss bank said it made the move because TVIX had exceeded its “internal limits”—what appears to be a fancy way of saying that the ETN’s assets were growing so rapidly that the bank’s risk-control desk might be having difficulty ramping up complex hedges just as quickly."*
"The basic point is that plenty of investors and traders reckon the VIX might shoot higher before long, which explains why people are piling into UVXY, particularly since TVIX is not taking in any new money."*
The result is the opposite of what I would have guessed.*
I would have thought that more people would want to buy TVIX, since the price will be going up faster. The impression I get is that people are buying UVXY because it seems to be a better bargain, and because TVIX might drop once Credit Suisse resumes creating new shares.*
I also would have thought that UVXY would be rising because more people are buying it, and this would make a reverse split unnecessary. Of course, the share price might rise only for intraday trading, or until some adjustment is made to keep it in line with the futures contracts.*
The explanation given is that the spread between bid and ask is too wide, relative to the share price. A difference of one penny would mean a lot less if the share price were a lot higher. Some funds have a rule that they can't trade shares under a certain price, so I would think this is more the reason for the reverse split.*
I assume that, when TVIX begins adding new shares again, the adjustment will reset the value AT THAT POINT, - - wherever it finds itself. Others might assume that the new shares will drop it suddenly, like a stone, back to where it would have been if new shares were being created all along.*
The "fund" is investing directly in futures contracts, but the "note" is a simulated investment. I assume that the bank believes it can invest the same money more profitably in other ways.*
Many of my assumptions have turned out to be wrong. I will use the best logic I can, but as they say, "No battle plan survives contact with the enemy." Even though it might SEEM logical, there are always hidden variables.*
Putting in my two cents. I believe the split applies to all owners of record on March 7.
Still holding TVIX from 2/7 - it's free and clear.
I holding out for a buck on UVXY - 6.75 - has to happen before the March 8 split! Thinking after the LTRO is handed out and the market will no longer have any "hopefuls" or "anticipation of" out there. Could clear the way for a correction.
I've made some wrong moves through the years but go back and look at all my posts from AAPL,MS, HOV and TVIX...
TVIX is a great day trade play right now. I would hold 500 shares long at this price also..
It's an election year and the bulls are pushing but we are going to pullback here.. nothing ever goes straight up..
GLTA !
Devils201, not to doubt you about the 1375 breakthrough but people have been saying that all the way up 1320,1328,1350, 1360 etc...and yet it just keeps grinding upwards. I do agree about the trading of TVIX though...it gives nice intra-day and overnight swings to play...only thing keeping me sane right now :0)
okay
I'm back in 16.67
I could be wrong but 1375 S & P will be a tough breakthrough ..
Day traders heaven going on for TVIX.. you can make .25 to .30 cent gains all day long everyday..
I'm playing MS today
had to cover NFLX short-tight stop 1 point lost on the way up
Was the reverese split announced already. Sorry few things going on this morning. Sell uxvy is what your saying, correct?
IMO
6.15 to 6.25
the bulls will be fighting -use your limit orders
( UVXY ) ~ 1 x 6 Reverse coming up .. !
Devil -I'm riding along on UVXY - decent position 5K@5.75. Do we make a clean buck out of it today?
Devil -I'm riding along on UVXY - decent position 5K@5.75. Do we make a clean buck out of it today?
FYI
UVXY will be R/S 6 for 1 so keep a close eye on it
Agreed! There also was another downgrade on Greece this morning.
Good luck to us all!
Well Durable Goods fall most in 3 years, housing prices fall and
those pesky German ministers keep saying what everyone thinking - "just let the Greeks out of the Euro".
Yes - TVIX and UVXY move today. ;)
Good call! GLTU/A!
Good Morning
I'm up at 6 EST
I go on instinct.. I made that call when TVIX was 16.33 this morning
I'm short NFLX as well
For those of us who just woke up out west - can you explain why the call over 17?
UVXY the same I take it. Looking for .50 from 5.75
No u won't....Dow couldnt hold 1300, markets headed down
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