New limit orders, Buy $5.35, Sell $6.40;*
I sold half of my UVXY yesterday at market price, for $5.95; The sell order was filled at 10:44:17 AM. My settlement date is Thursday.*
I am still keeping the $6.40 limit to sell the other half. The buy back price of $5.35 should be reached soon, the way things look. I might decide to lower it, if it keeps dropping this fast. But still, I'm afraid to sell the other half.*
Some say money flows in after a record high. It is said that a lot of people like to buy at the top. These are often called the "retail" investors. When they see the market setting record highs and reaching new milestones, they take that as a buy signal.*
Last August and September, the market started climbing relentlessly, as QE3 was announced. Most people expected that result, but I was taken by surprise by it, because I just couldn't believe they would stimulate the market when it was already at such high levels. But as things stand today, what will keep the rally going to that extent?*
When the next reverse split comes, I hope it's 1:10 again. Splits of these things should always be by a factor of ten. They move fast enough, and it's a lot easier to compare older prices afterward. I thought the SVXY split should have been 10:1, which would have moved it from 150 to 15, but they decided on 2:1 instead.*
When UVXY was reverse split last time, it went from 5.70 to 57, and then quickly to 34 and lower.*
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