Another solid night for UVXY last night with a 4.88% gain. Surprisingly this gain was with the SPX only down 0.07%. Perhaps the gain in the VIX, UVXY, etc. was bolstered by the fact that the Nasdaq was down 1.07%.
Having watched UVXY for the last few weeks I have noticed that on most 'up' nights the UVXY closes significantly lower than the intra-night high. However, last night the UVXY only closed a small % below the intra-night high. Perhaps this is a sign of the future UVXY direction leading up to the Fed meeting on Thursday night. Lets hope that Yellen doesn't leave the wording of the Fed statement unchanged and stuff up my trades again.
The first time that I watched Yellen speak I thought to my myself I need a different image in my head, otherwise I simply won't be able to listen to her. Hence, I invented a replacement image in my head for Yellen. That is, every time I listen to or read about Yellen, I think of Scarlett ... works for me. (I had an image attached below, which featured Scarlett's famous red dress, but I removed it as despite the image being very tasteful and easy on the eyes, I thought that the HotCopper PC police, but not the mods, might take issue with it.)
My VIXY and SPXU long trades are also green. I opened these two at the same time as I opened my UVXY long trade. However, due to the greater volatility with UVXY and my desire to set a UVXY stop 'safely' below the 12 month low, I opened UVXY with a smaller volume than with SPXU and VIXY. Despite the smaller volume associated with my UVXY trade, this ETF is presently showing the largest profit of the three ETFs.
