We have already been working on a trade the last few days. We had a little problem setting up new accounts, so we missed some of the move personally; however, some of our devoted readers have taken advantage of our pick.
The new pick is TVIX. This is a 2X leverage ETF on the VIX (Volatility Index) based upon futures. It is supposed to increase at twice the amount the VIX increases ( not an exact match). Ideally,the more the market goes down, the higher this will go. Our entrance price was at $16/share bought on 7/7/2011. A second purchase was added on 7/13/2011 at 18.25. Another purchase was complete today at 20.68/share. We are continuing with our pyramid strategies we used before. (For the purpose of simplicity, we use 100 share blocks- it could actually be much more)
Trade Flow:
100- 16.00 Total Shares 300 at cost basis of $18.31 (not including commissions)
100-18.25
100-20.68
Stay tuned- We will explained the trade later since we do not have time right now. Check emails for targets.
