Greek jitters and China data belting Europe stocks ... I knew it, I should have opened long trades with SPXU and UVXY last Friday night at the same time that I closed last week's longs with SPXL and SVXY. It would have been risky over the weekend, but would have paid off. However, I suspect that this could be the beginning of another swing down. Hence, it is not too late to get in tonight. Maybe I will consider other opportunities besides SPXU and UVXY as well.
The SPX chart below tells the story, and the SPXL chart is obviously very similar, but with bigger % moves. However, the UVXY chart further down, being a volatility chart is quite different. Volatility is increasing with the increased uncertainty regarding Greece, China, Ukraine, US interest rates, and even oil. Ideally I would have liked to enter UVXY at around 20 again, but this level is gone. Perhaps 25 is the new 20 for now, but this too went begging last Friday night. However, as discussed above, I suspect that it will not be too late to get in tonight. A move up from the present UVXY level of 28 to the 7-Aug-2014 close of around 37 would be nice ... a modest 32% increase in say 10 days or so. Now that would be greedy, but we wouldn't be on HotCopper if we weren't greedy. That is, unless you are desperate.
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