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Welcome back J !!!
Oh, also, your shorting UVXY vice buying XIV because... ??? :)
Thanks, RMI. Shorting UVXY simply b/c it's 2x VIX. If I were longing XIV, I would be looking only for a 2.5% move.
Tx, J... joined you... was able to get some nice fills in A/H...
That was quick. I'm out already w/ the 5% gain.
Kudos, J. I'm sitting longer, short on this PoS... let's see how far she drops over the next few days....
Scaled in more, higher, today. Nice move in A/H.
J, are you using a trailing stop in case UVXY were to go up instead of down? If so, where are you setting it at? Thanks.
Scale-in ... no stop. My usual play. I will post when I exit. Always do.
No stop here either. Will explicitly sell after 5 days if I can't make my 5% profit.
Gotcha! Looking forward to the next signal.
I just keep on shortin', coverin' lower bases on dips, then re-shorting higher.... my highest basis for this round is now $88/share. Will keep working' it until it stops going up. This round could go as high as $110/share, based upon historical mkt data... so, this strategy is not for the thinly funded.
Looking back further than what UVXY has been around (10/2011), if we have a true major market oh-shit, like the flash-crash of 8-9/2011 or 5/2010 or 2008-style crash, then UVXY will go up to about $600/share. And I'll keep shorting it. So,again, not for the faint of heart.
Good to see you back, JT.
Thanks all, possible short UVXY signal today if it finishes strong (market weak).
I put on another set... very hard to get shares to short, though... Looked at three brokerages.... even mighty "full-service deep-pockets" UBS (who can usually get me anything I want to short), didn't have any. I managed to find some at IB. Expecting mkt to stay in "stun" mode until Friday's Jobs #.... fwiw..If we close below Monday's lows, that would set up the opportunity for this thing to explode higher. Glad yer w/me on this, J, but be sure to spread your cost-averages higher up here.
JKH, did you manage to cover your UVXY???? It dropped ~20% from yesterday's close.
Nice move today... They've jumped the gun on the Jobs number.... but the drop is not done yet. still short from $100. Covered a lower basis batch for B/E+1. Keeping the highest basis. Will keep playing this game in perpetuity.
FWIW natural gas seems to be negatively correlated to the mkt of late.. http://investorplace.com/2014/02/natural-gas-stock-market/#.UvQPNPldVsMThe six worst days for the market thus far in 2014 have all occurred on days when UNG climbed. Also GAZ, BOIL, UGAZ.
Glad I am short NG as I believe we will see more upside in the market tomorrow.GLTA
That was more like it. near 30% profit in 2 days... time to click-in some profits... covered some at the close, but keeping the majority for longer, still. She was $100 two days ago, and will probably be $25 in a year, if not lower. And if she ever gets back over $100 again, I'll start working a new basis higher. Simple enough.
So you are still in DGAZ for a longer play? I sold out after making 17% in a week (obviously got in higher than you). I think we might get another pop to 5.2 or higher on NG next week and I will try to buy in sub-3 if I can... then I want to take this for a longer ride.
Locked in more profits today... about 33% profit.. Amazing that you can get that much profit in just ~4 days action.Phenomenal year for trading so far... this year just keeps getting better and better and better...
Going long UVXY tomorrow (2/14) if VXX closes down again. A V-day present?.
Now this I gotta see work... maybe when you take profits, I'll re-short....