BETAPRO SP500 VIX ST FTRS 2X DLY BULL T.HVU

Lost about $6000 on this since early July, just a student

[VIXUPUP]

Lost about $6000 on this since early July, just a poor college student with student loans trying to make some extra cash over the summer. It worked with OIL stocks from February until June but then switched to HVU after June. Sold 2/3 today and going to sell the rest tomorrow morning for about a 40% loss total. Ended up a few k red from my own money, the rest was loss from profit earlier. Even had HVI for a few days but then switched to this in July, BIG MISTAKE. It literally wiped out my main trading account so now have to close it. Down 8k to 4k in three weeks while market was flat otherwise.
 
Another 5% down today as predicted. S&P slightly down but HVU still drops 5% because that’s what it is designed to do, to scam retail investors every day by 5%.
 
I recommend everyone cash out this week before it gets any worse. It will keep dropping like this until September.
 
I’m going to take about half of what’s left and cash out and with some of the rest short HOD from the 41-42 oil level into September. Lost 50% of total capital I had in June…hope this will be a lesson to everyone to NEVER buy HVU, EVER. If you’re tempted just buy HVI if this ever spikes high again. At least with HVI you always make money over time as long as you buy it on a sub 10 dip. With HVU buy sub 10 like me and hope to get out before it reaches 0 or gets reverse split.
 
Notice some things: Volume is about 1.4 M every day, everyday it gaps down, and then crashes on close by 5%, and ALWAYS about 5% down on average daily regardless what the market or VIX do intra day. I noticed in my account my brokerage even logged a transfer in and out transaction on HVU that I didn’t do so looks like they borrowed to short it while I was holding and losing big on it.

[SheerBolshevik]

I felt the need to sign-up to stockhouse just to reply to your comment. I've been in this since May, even averaged down in late July - but to no avail. This trash just sinks lower and lower. I even had a few opportunities to cash out to break even or with a small loss - big mistake on my part. after all, pigs get slaughtered. Not only did I fail to heed the sage warnings of more experienced

[VIXUPUP]

Thanks for the reply!   Since May sounds like a long time. I can’t imagine holding this more than one month or so. The toil of constantly checking it daily and seeing nothing but red is just too much. A good “green” day is when it drops less than 4%, but those are rare days.   I too bought it being greedy expecting the sky to be the limit and thinking HVI is too slow and boring, but boy

[Eric1212]

Tomorow US & Canadian job report could do it but it's far from being done ... For my part, i loosed(not realized) 21 653,85 $ on this stock but when i buy it, i knew it's was a get-rich or lost big so i deal with it... And if this is not done when trump get elected, i put a sale on break even and forgot it.