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Post by theMist on Jan 4, 2017 11:45:56 GMT -5
DOW and S&P DEFINITELY REACHING for NEW ALL TIME HIGHS. SCAMs should drop further link
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Post by theMist on Jan 4, 2017 11:48:55 GMT -5
If that's the case then definitely leave a SHORT position on at all times. My trading style is different with aggressive daytrading and at times leaving on small position overnight. I have no problems chasing SHORT VIX SCAMs when I feel I have taken profits a little too soon. I have learned that it can be very profitable. Of course, I'm watching markets like a hawk.
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Post by walnut on Jan 4, 2017 11:52:30 GMT -5
Your short UVXY should already be a winner
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Post by walnut on Jan 4, 2017 11:54:15 GMT -5
IF we could find a way to protect against those time like Aug 2015, we could leave 10000 shares VXX short all the time. I have not found the trick...
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Post by theMist on Jan 4, 2017 11:59:51 GMT -5
That would be AWESOME my friend. I'd be maxed out short VIX SCAMs every day, and take a vacation. Have some Pina Coladas on a beach in the Carribbean. lol
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Post by walnut on Jan 4, 2017 12:05:43 GMT -5
It ain't gonna be pretty. You will need 5 pina coladas. But I am talking about SURVIVING the corrections. I am looking still. Everyday
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Post by walnut on Jan 4, 2017 12:09:40 GMT -5
I try to adapt and learn If that's the case then definitely leave a SHORT position on at all times. My trading style is different with aggressive daytrading and at times leaving on small position overnight. I have no problems chasing SHORT VIX SCAMs when I feel I have taken profits a little too soon. I have learned that it can be very profitable. Of course, I'm watching markets like a hawk.
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Post by theMist on Jan 4, 2017 12:22:30 GMT -5
Me too Walnut. Always have to have an open mind and its a constant learning experience. When you think you have ALL THE ANSWERS and pat yourself on the back, that's when you fall over. lol Surviving the Corrections -- That's the number one thing that concerns me when shorting VIX SCAMs and refrains me from keeping on a SHORT position on all the time. Seeing the difference between a small spike in volatility and not seeing it for what it really is -- a REAL Correction or beginning of BEAR Market - can be devastating. Thankfully doesn't happen very often. Those are the 2 times you can be destroyed being short the VIX SCAMs. Usually, a real correction will show on the charts but some times it doesn't. In August 2015, NO ONE saw it coming. I remember it started with CHINA blowing up overnight. According to six figure investing, if TVIX had been around during 2008-2009 CRASH, it would have skyrocketed 15X. Could you imagine averaging in that short position? ROFLMAO sixfigureinvesting.com/2016/10/is-shorting-uvxy-tvix-vxx-the-perfect-trade/
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Post by walnut on Jan 4, 2017 12:50:12 GMT -5
It's not really the corrections that wipe you out, it is trying to play 1500% volatility days and being wrong for 5 minutes. Get out and resell when the dust settles.
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Post by walnut on Jan 4, 2017 12:53:45 GMT -5
Along that line, I will tell you what is wrong with VXX options: The returns distribution is normally distributed (bell curve), UNTIL the crash, then it becomes a Poisson distribution, logarithmic and not linear. And your normal greek option deltas are incorrect. You will get wiped out in 10 minutes. That applies to the underlying VXX too. Get out and forget about it
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Post by theMist on Jan 4, 2017 13:01:53 GMT -5
ROFLMAO - that would be theMist. lol
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Post by theMist on Jan 4, 2017 13:33:21 GMT -5
Walnut - Did you reshort a small SHORT position in VXX ? We didn't get a quick opening GAP fill this morning. Contango now pushing over 13% and I see S&P Bullishness (new highs). DOW 20K and S&P retest of 2277.53.
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Post by walnut on Jan 4, 2017 13:36:02 GMT -5
No, I've been all cash since 9:30 am,
What I have been thinking- Does the MIST really believe that these gaps will be filled, and when?
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Post by theMist on Jan 4, 2017 13:46:11 GMT -5
Look to reshort them today. Even a small position for a scalp. They're headed lower. I see the S&P retesting NEW HIGHs and contango is closing in on 14%
I'll explain in a few mins with chart what I see potentially happening.
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Post by walnut on Jan 4, 2017 14:01:56 GMT -5
damn it already 22.75, I don't do well shorting old news like that haha tell me what to do...
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Post by theMist on Jan 4, 2017 14:08:32 GMT -5
I've reshorted UVXY and averaged in a small short position on UVXY. Got some above 7.00 earlier. I DEFINITELY DON'T SEE VIX SCAMs rising back up NOW and filling this mornings GAP Down - should remain a BREAKAWAY GAP. If it had filled the GAP this morning (that was the BIG question I had for today), I would have shorted UVXY very aggressively when it was green even though I was still holding 9900 UVXY short. I only missed a 30 cent move today.
VIX SCAMs are headed lower today and most likely into tomorrow. Keep it small - even for a daytrade today.
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Post by theMist on Jan 4, 2017 14:15:53 GMT -5
To make it SIMPLE - SHORT THE VIX SCAMS NOW!!! LOL Even for a small daytrade
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Post by theMist on Jan 4, 2017 14:46:47 GMT -5
UVXY headed lower today, possibly low 6s today. IMO Currently trading at 6.80
Accumulated 18k shares little earlier. Moderate position. Contango at 14% now.
I'll post charts later after market close.
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Post by theMist on Jan 4, 2017 14:50:14 GMT -5
VIX SCAMs are locked in a death spiral (descending channel)
Stay SHORT!
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Post by theMist on Jan 4, 2017 15:09:08 GMT -5
Come on my babies! Collapse down more!!
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