Quote:
Originally Posted by MEMMEZZ
are you going to be holding on to your tvix throughout this mini-rally or will you close (or already closed) your position and wait for the following drop towards october lows?
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If you look back a few posts, I have already exited my TVIX positions during the big drop last Monday. I am long on MS stock since it hit near 52 week lows in this market last week. I will be looking to exit MS anywhere between 1200-1250, depending on when this rally ends. Tomorrow looks like a big surge.
Afterwards I planned on a EDZ or TZA position to short on the way down. TVIX is no longer a viable short as it is meeting resistance on the VIX index (of which it is based), and VIX future contracts are played on a 30 day basis future. No one is expecting a bad Christmas, yet, which is why he VIX has been remaining so calm and docile in such financial uproar, remaining relatively below 36 throughout an 8% index collapse of the SPX.