The last 5 (of 6) spikes in the VIX were followed by a quick reversal to the downside. Statistically, it seems likely to get sold back down.
I have closed 45 of my 50 call positions on UVXY. Will look to close the rest soon. Might not hold out for a big dip that didn't come in the last 5 spikes.
Hedge_Of_The_World
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@winter44, That's smart. We could see a vicious reversal as we usually do. I would take profits if this were a day trade, but I'm holding for a real correction.
nah0
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ready for this crash. saving every dime to buy this bottom. waiting for an inflection point of inflation to the downside :D
Hedge_Of_The_World
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@nah0, Me too buddy, more than ready. It's been frustrating watching us melt up each and every day. This past year has to be the strangest of all time for traders. Lol.
peterbhc
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I need more UVXY! It just cuts holding it!
Hedge_Of_The_World
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@peterbhc, For sure buddy, the retracements are lethal. Central banks are delaying the inevitable as long as they can so the banks can continue to dump risk on to retail investors before the house of cards comes crashing down. This entire financial system is a ticking time bomb.
candlestickninja
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just getting started, the retracement today in VIX and UVXY was healthy, TNX about to take off to 2% plus simultaneously, planetary bodies are aligning and will make an opening for a Gamma ray to humble these markets very soon...anyone that thinks the VIX runup just got started better run for cover, I mean cover those volatility shorts because skat is about to hit it!
Hedge_Of_The_World
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@candlestickninja I’m locked and loaded. I don’t want to have to buy Vix at 30, so I’m holding for the main event. 😎
MarketMakerTraders
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That Good Ole VIX
Hedge_Of_The_World
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@MarketMakerTraders, Nice work! I agree. We're potetially going to a 40 handle if we see a real correction on the majors.
I have closed 45 of my 50 call positions on UVXY. Will look to close the rest soon. Might not hold out for a big dip that didn't come in the last 5 spikes.