Correction coming? See inverses UVXY TZA SQQQ

Discussion in 'ETFs' started by KCalhoun, Jul 8, 2021.

  1. KCalhoun


    Biggest uvxy etc gap ive seen in a year+ #gobears

    ca-ching! :D

    uvxy8july.jpg sqqq8july.jpg tza8july.jpg
  2. It's not supposed to happen until August, damn it! :)
    KCalhoun likes this.
  3. KCalhoun


    I'm long overnight UVXY etc, bought a bit premkt, will buy more if it takes out new highs

    VIX > 20 is bearish
    murray t turtle likes this.
  4. Pekelo


    Yeah I saw the signs yesterday, although with this market you just never know, but I think the top is in for a few months at least. Here is the DD:

    Last edited: Jul 8, 2021
    KCalhoun likes this.
  5. KCalhoun


    These corrections have lately run just 3 to 5 days. If selling accelerates there's big upside in inverses
    murray t turtle likes this.
  6. Nine_Ender


    Where have I heard this before ? Oh yeah, every month since the election. So what did the market actually do ? Went up in almost every case. Did any of the previous top calls work out ? No, some of them went down in flames actually. What is more important to the market : huge economic recovery, low interest rates for years to come, strong corporate earnings. Or is it all these random "negative" news stories like Delta variant is going to get us ?

    Guess we'll see but it hasn't really worked out for people shorting this economic recovery.
    Last edited: Jul 8, 2021
    themickey and murray t turtle like this.
  7. %%
    Good points;
    fri looks Very weak for bulls , see how it closes
    KCalhoun likes this.
  8. Nine_Ender


    Performance of these etfs since 9:30 am July 8th ( the mkt open directly after this thread started ) :

    UVXY 31.83 to 27.96 ( - 12.2% ) TZA 32.66 to 29.69 ( - 9.1% )
    SQQQ 9.03 to 8.64 ( -4.3% )

    Something similar happened on June 21st. Seems like hard work trying to make meaningful money in this fashion.
    Last edited: Jul 11, 2021
    murray t turtle and KCalhoun like this.
  9. Nine_Ender


    Looks like I called it fairly well; I'm not super confidant though going into this week so I've been gradually selling off higher risk positions. Some of the stuff I love longer term is shaky short term depending on news. If Opec+ news turns positive I'll reconsider. I'm waiting to see if Gold/Silver prices go up and/or the upcoming earnings are good on some of the miners. I'm prepared to sell remaining few positions or add some old favorites when direction is confirmed.
    murray t turtle likes this.
  10. deaddog


    What determines whether a position is higher risk or not?
    #10     Jul 11, 2021