ProShares Trust Ultra VIX Short Term Futures ETFArca
Description
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This is worth noting. This has been the almost 3 month trend. Clearly the market is making lower lows but this is being kept down. Aside from that, the trend is the trend. It may be buying time soon on UVXY and you know what that means for the market. Just a check and balances to what you already see. I did do about 4 minutes of due diligence and looks like the chart will play out as expected. Ill check more when its not 80 degrees and sunny and I am heading out the door!
Let’s go OSW! So happy to see you posting again. I’m hoping the UVXY doesn’t travel down much further… hoping that we get that double bottom then… yup I know what that means, lol.
drchelsea1
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UVXY next stop < $10. Have a good one.
Original_Stock_Whisperer
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@drchelsea1, Well see about that. I would not rule that out then bounce to 15s, 16s.
drchelsea1
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@Original_Stock_Licker, We shall see. Your perma-bear attitude will not serve you well. Broken clock Michael Burry BS that you are parroting, is nonsense. You grabbed a correction / crash since the fall, and the Bears (at least the uneducated and clueless), hang around WAY TOO LONG, when the bottom is in. Then they whine all the WAY BACK UP, and they short and buy puts continuously. Then all their money is gone, and we are at a MARKET TOP once again. Thanks for playing. Bankruptcy coming your way. Whisper that to Dixie.
Original_Stock_Whisperer
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@drchelsea1 good luck you Nigerian. You should stick to sending spam mails to people telling them you are prince Chelsea and to give you 20k. Clueless Nigeria boy.
I'm holder of UVXY at 19 cost basis. Currently looking at VIX and is halted after a 5.5% sell off after hours. Not sure what this means yet.
Original_Stock_Whisperer
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@Rumpelstiltskin_, taking a quick 2 second look at the VIX chart, it's in a pennant formation for the last many months. Looks like its getting close to go long as well in VIX. $19... that might be a little tough. Avg down when its time but have realistic expectations. They are suppressing this. It should be making higher highs as the market continues down but it's not so just keep that in mind and play the chart that is being giving.
Rumpelstiltskin_
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@Original_Stock_Whisperer, VIX pennant seems to be at an apex. The VIX 8/17/2022 $75 calls Friday volume = 10,620 and Open Interest = 139,739. I'm watching to see if open interest increases.