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Re: pennyplayer777 post# 7425

Thursday, 03/17/2016 1:24:42 PM

Thursday, March 17, 2016 1:24:42 PM

Post# of 29821
With all due respect, your trading technique means nothing when you're dealing with the most toxic ETF in the market. Contango when VIX is this low is more than just simple decay, it's a force that cannot be fought against.

Go back and read some of the posts over the last month. There was a newbie in here last month "averaging down" at like $37 and was going to "hold for a 20% gain". Well, I'm hoping he's not still holding...

Your only potential saving grace is that VIX is at 2016 lows right now and "may" be ripe for a pop. But even still, if it hovers in this low area much longer...contango will drag this to the low teens in a heartbeat. Sure, you'll get some good pops here and there, but the general trend will remain down. Be smart/nimble and Good luck.