RE:RE:Future for HVU?? Yeeeouch! Reaching my pain threshold, so my gameplan Wed on open is to look for the door on my HVU position. Which likely means HVU will go up after I capitulate via exit! ;)
If S&P is flat or higher I will sell for best price on minute chart on open. Only if S&P is down thru the night and pre-market will I hold and re-evaluate. Although I see S&P turning around either now or 2080, the 11% VIX contango kills any "wait it out" strategies on HVU, and drastically reduces upside response when S&P finally turns around. Only until it battles through that contango will proper returns begin to be reflected in HVU.
Position Summary: If exit occurs, approx 25% loss would be booked (avg entry $32). Original gameplan was risking 20% for approx 50-100% HVU upside. And then Janet opened her big fugly mouth! Twice! haha
There's likely some money to be made for the guys patient enough to wait until now to begin entering like DSurfer. Best of luck, and best of caution to those still involved with the widowmaker.