See you at 6.6 to 7 this week.See you at 6.6 to 7 this week. My gut feeling.
I have to say this is a terrible, terrible ETF. Best thing to do is sell it when it goes close to 7 and maybe just play the inverse intra day. But holding this for weeks is a bad idea. Bought it at 9 two weeks ago thinking it was cheap for a small pop when VIX was around 13 and now VIX is around 13 and this went down like 30% since then. Up days are minimal or nonexistent like today and it goes down lots for no reason just by itself. Compounding and contango will guarantee huge losses. Look at this thing, VIX up like 14%, markets down big, and this barely moved 5%. What a SCAM. Other days markets practically flat and this goes down 6% day after day and gaps down lower. I should have shorted OIL with HOD or went with the inverse of this. But seriously, this is terrible. Seems strongly biased to lose money at the end of the day no matter what the market really does. At one point it was up 8% but closed 3%. Pathetic. If market is slightly green this will instantly tank by another 6%. SCAM. Opens gap down, closes hugely down from the day high. If market is flat this goes down 5%. Get it. This goes down week after week. Let’s pray for a move closer to 7 this week so we can all take our losses with dignity. What a joke this was. It doesn’t track anything accurately.
I’m going to take a loss and try getting out at closer to 7 this week and never buy this scam ETF ever again. If it ever pops high I’ll gladly get the inverse, or even get the inverse middle of the day and sell at market close daily since this HVU dog always closes down big every day compared to mid day. Get it, always closes DOWN from mid day, DOWN from day to day, gaps DOWN, etc. What a SCAM. Lost 35% in two weeks and all my profits for the year with this SCAM. If I sell at 6.8
I’ll get back the initial capital that I invested at start of year but profits after months of hard work trading oil and other stocks all gone instantly with this SCAM in two weeks. I can’t keep holding and watch this go up 5% this week and then down another 30% by the end of the month. Makes me sick, just can’t do it anymore. Following markets and VIX is pointless since this **** doesn't track anything properly. All it does is go down over time.
Yeah the fed will hike in September, oil will be low 30s, and volatility will soar and markets crash but who cares when this thing loses 30% every two weeks. By late August it will be like 3 or max 4 so a double will just get you what it was last week or this week. SCAM. Forget about anything over 7. SCAM. Get out on a pop near 7 this week and at least you won’t lose any more of your hard earned money.