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Post by clinton on May 9, 2018 13:59:24 GMT -5
lots of junk stocks on big runs
cant last much longer
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Post by theMist on May 9, 2018 14:03:08 GMT -5
I opened up a savings account for a 1.5% apr while waiting for better market conditions.  Hey LV Hope all is well. Are you waiting for higher contango ? What is the comfort zone that you are looking for? BTW- Fidelity now allows shorting of tvix online once again. When I first started with them it was a mandatory phone call and if they continued that requirement was switching over to Interactive Brokers -- which I may still do btw. |
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Post by lasvegas77 on May 9, 2018 14:15:44 GMT -5
That's good to know Mist. I'm happy to hear about the better availability of tvix shorts. Contango is the main consideration. It's far from ideal right now. My view is there's plenty of money to make when you wait for it to be normalized instead of getting in early with all the false starts.
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Post by theMist on May 9, 2018 14:21:49 GMT -5
just curious -- what contango numbers are you looking for?
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Post by lasvegas77 on May 9, 2018 14:26:42 GMT -5
Generally seeing over 6 is healthy. That said, it's not a hard rule as market context needs to be taken into account.
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Post by lasvegas77 on May 9, 2018 14:27:25 GMT -5
That first month with 5.5% right now is also going to be taken out next week. so it will be back to 3.5% at the current rate.
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Post by theMist on May 9, 2018 14:29:14 GMT -5
Also, before I forget, with fidelity there is the 200% equity requirement.
If I trade on intraday buying power during the day, I have until 3pm EST to exit the trade and get back under the 200% equity requirement.
So, what I've been doing is holding onto 11k or 12k shares tvix short for long term and daytrading on margin
Today I had 32k (11k from overnight) shares tvix short and closed out 20k just before 3pm EST.
Their margin department seems to be very strict with this.
The good thing is that fidelity allowed me to ride that pop to tvix 7.90 range the other day on margin
and they didn't close me out or call me. And of course tvix came back down and turned out to be a good day afterall.
With IB, it would have been automated and would have taken a loss.
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Post by lasvegas77 on May 9, 2018 15:05:20 GMT -5
oh don't get me started on their risk management department. LOL i have had them close me out many times at the worst times. Other times, it was to my benefit. they also are random. Sometimes you get away with being over the limit. other times you don't.
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