As a potentially profitable opportunity presents itself, John will send you an alert with specific trade information as to what should be bought, when to buy it, and at what price.
Trade Alert - (XIV)- TAKE PROFITS
Sell the Velocity Shares Daily Inverse VIX Short Term ETN (XIV) at $24.56 or best
?RISK OFF?
Closing Trade: NOT FOR NEW SUBSCRIBERS
10-2-2015
Portfolio weighting: 10%
Number of Shares = 426 shares
Like the rest of the world, I was expecting big upward revisions in the July and August nonfarm payroll numbers.
Instead, we got revisions down of 53,000, on top of the weak 142,000 August report.
That caused the S&P 500 futures to flip 30 handles in a heartbeat. Yet, after an initial spike, the Volatility Index (VIX) went down and the Velocity Shares Daily Inverse VIX Short Term ETN (XIV) rose.
I?m sorry, but when I?m wrong, and I get to make 47 basis points anyway, I?ll take that all day long.
So I?m taking profits here. The awful August figures hint that the market may still have some rough sailing ahead.
My (SPY) shorts are looking pretty good aren?t they? Note: This is my 4th profitable round trip on the (XIV) in the past month. Better pay attention! Talk about having you cake and getting to eat it too!
For a detailed description of this 1X short volatility ETN please click here for the issuer?s website at http://www.velocitysharesetns.com/xiv
Here are the specific trades you need to execute this position:
SELL 426 shares at $24.56????.??$24.56
Net Proceeds:????????????$10,462.56
Profit: $24.56 - $23.45 = $1.11
($1.11 X 426 shares) = $472.86, or 0.47% for the notional $100,000 model trading portfolio.
