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adventurous51
Aug 6, 2019 9:56 AM

That was a nice POP on UVXY ... time to short it! Short

ProShares Trust Ultra VIX Short Term Futures ETFArca

Description

UVXY poped very significantly in the last week. The futures market bounced back over night. Time for a quick short for the next 1 to 2 weeks.

Comment

We did get the fade but I hope there is still more to come... before reverting to CALLS....

Trade closed: stop reached

Time to revert to long on UVXY. See my next post
Comments
adventurous51
Thanks for your comment. I just think that we are a few days possibly a couple of weeks away from the major drop on the Market which will send the VIX to the stratosphere. I try to take it one day at a time... but it is a bit nerve racking to short something you know could explode any day. I guess you can say that I am "adventurous" :) Thanks,
allenbrubaker
Love your ideas. My noob question is, how do you have confidence to short given that you said there will be an astronomical pop (which I totally agree with)? For me I figured I didn't want to miss the once in a lifetime opportunity of catching the astronomical pop, so I sold half my position and am adding positions gradually on the retracement guided by fibbonacci. Maybe I should have closed my position and shorted instead since I knew it would retrace at least a little bit. I guess my goal is to be all in to not miss this astronomical pop.
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