5 Reasons to be bullish on $UVXY
1. SPY is at record highs and... I am watching for topping signs or softening to show...
2. There is enough sh!@#$%^t going in the world to foresee something triggering a bad market reaction soon! (Global economy slowing down, Several trade wars, possible hard Brexit, Deutsche Bank issues, Iran tensions... just to name a few...)
3. The FED won't cut rates by more than 25bp this week. The market might be disappointed. Even if the FED start a dovish cycle with multiple rate cuts, it is a sign of weakness not strength of the economy.
4. The VIX is low. It has been lower but $12 is low.
5. Gold has made a good rally in recent months (even though I am currently, very short term, bearish on gold). It may know something we don't...
I won't commit to it until I see softening of the SPY but I sure keep my eyes on it... I'll update this post when I start a position...
The above are only my opinions and is not trading advice. This is just something to get you thinking... an idea, THAT'S ALL! I am not responsible nor liable for any financial losses you may incur following my ideas. Also know that leveraged ETFs such as UVXY carry additional risks. READ the prospectus! Do your own analysis and due diligence PLEASE!
2. There is enough sh!@#$%^t going in the world to foresee something triggering a bad market reaction soon! (Global economy slowing down, Several trade wars, possible hard Brexit, Deutsche Bank issues, Iran tensions... just to name a few...)
3. The FED won't cut rates by more than 25bp this week. The market might be disappointed. Even if the FED start a dovish cycle with multiple rate cuts, it is a sign of weakness not strength of the economy.
4. The VIX is low. It has been lower but $12 is low.
5. Gold has made a good rally in recent months (even though I am currently, very short term, bearish on gold). It may know something we don't...
I won't commit to it until I see softening of the SPY but I sure keep my eyes on it... I'll update this post when I start a position...
The above are only my opinions and is not trading advice. This is just something to get you thinking... an idea, THAT'S ALL! I am not responsible nor liable for any financial losses you may incur following my ideas. Also know that leveraged ETFs such as UVXY carry additional risks. READ the prospectus! Do your own analysis and due diligence PLEASE!
Comment:
Just an update... Took 1/2 position at $24.50 with a stop at $23.50. I intend to average up at $25.50 if she does not break that overnight...
Comment:
It did pop this week but beware, it will likely come back down before the astronomical POP! I am now waiting for another low $25 before reloading. Actually, I have bought PUTs for the way down. Good luck and trade safely!
Comment:
Time to close this idea.... see my next post...