Replies to post #1302 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[stingray113]

Exactly. We're riding sentiment at the moment and a market correction would reflect as a temporary bounce or bump off the bottom for UVXY. With SPY futures -4.5 this am we may see that today, but I'm not buying either. Wait until the height of the debt ceiling crisis later this quarter and then buy with both hands SVXY as the momentum builds. Once a resolution is reached, sell. That's the closest thing to guaranteed profit that there is in this economy.

I did some cost averaging on my UVXY calls on Friday in anticipation of a correction today, so hopefully will get an exit today and then I'll be completely out of UVXY until the next time a hedge is needed.