ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[A320CA]

I added today - @ 6.29. Now at 3K shares @ 6.23.
Also, added 1K SPXU - Now 3K @ 26.19.

Fairly large position for me on the downside - I maybe wrong, but my gut tells me that we are set up for a good pull back.

Last time we peaked on - couple of weeks ago, sold quick for 1.50 move on SPXU. Same deal here, sell quick if you hit a reasonable strike. Don't hold out for 8.5. I'm out mid 7's. Unless it rips to the downside.

Either way, I will be out of both by week end. Hoping to hit mid 7's by Wednesday. ECB - rate cuts? If they do, could be interpreted as it is still really bad. Word is nothing happens, which could be bad also. Have you seen the bond yields in Portugal, Spain and Italy. You have got to be kidding me! Nothing has changed.

Jobs - ADP, then April report on Friday.
Fed speech, nothing changes.