Friday, January 18, 2013

Trade of the day, UVXY!!!

You win some, and you lose some. Played UVXY long again (see previous post) today, and I really got caught off guard this time when it started to collapse near around 1:00 p.m ET. Went long 1000 shares right at the open, and got filled at 12.95. I initially placed my stop at 12.73, then stupidity moved it down to 12.47 when I thought the overall market seemed to have top out a bit. Now due to market makers or whoever is rigging this ETF, my stop all of sudden got stopped-out very quickly around 1:00 p.m ET and sold at 12.47, a -.48 point loss. If the UVXY was a stock, it would have been delisted months ago. Despite this losing trade today, I'm far from done trading it. I'm going to be day-trading it until I get my "DeaD CaT BouncE"!!! Even if it blows up my account...Just Kidding. Enjoy the long weekend everybody!
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

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