Very busy this morning, so I’ll make this brief.
I thought I could trade gold back and forth, long and short. I made money on both the upside and the downside, ha ha ha — but not today. Then I thought I could short China, because more laughs. And I felt comfy taking gigantic TVIX positions over the weekend and into a Monday. All of my plans were scattered about the floor and my face kicked in thoroughly.
What should I do? What will I do?
Nothing yet, but I’ll most likely close it all out and chalk it up to hubris.
Markets are flying high today and gold is laughably crushed to fucking pieces. The news? Trump is being impeached. Geez, thank God.
All that aside, everything is going well.
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Market is making a Kamikaze Top fueled by the PPT.
(Plunge protection Team).
They hope to suppress the news that Trump won in 2016
by FRAUDULENT VOTE COUNTING in MI PA and WI.
So one thing about TVIX is that is is tied to VIX futures. Lately, VIX futures have been priced in the 17-19 range, which means that TVIX is bleeding out at VIX under that, even when VIX goes up significantly.
https://cfe.cboe.com/cfe-products/vx-cboe-volatility-index-vix-futures
Instead, I’ve been long VIX spreads, with a positive theta, so I’m not looking for homeruns, but should avoid striking out.
Of course, the other thing you should be asking yourself: why are VIX future priced so high? What’s most interesting in that they spiked higher on Sep 18, and stayed high through Sep 19 – as the market hit an intraday ATH!
Sep 18… you may recall that this was Fed Day, when the FED cut rates, meeting expectations. Fed rate cuts have been much celebrated by fools. It is like a company celebrating that lower demand for their products and services have lead to lower expenses.
Here’s some VIX futures data:
https://www.investing.com/indices/us-spx-vix-futures-advanced-chart
TVIX is priced based upon the closest 2 *monthly* VIX futures (currently VXX19 and VXV19): https://cfe.cboe.com/cfe-products/vx-cboe-volatility-index-vix-futures
Silver came half way back to May lows, and is now trying to bounce at support area. Bought half way back in ..only half because gold still looks like it should go lower.