UVXY +50% in 1 Week
by Mike Paulenoff
December 12, 2014 • 12:00 AM EST
Last Friday December 5, with the ProShares Ultra VIX Short-Term Futures (UVXY) at around 18.20, Mike noted that the plumetting stock had a series of lower lows in price, but higher lows in momentum. This was behavior similar to last August and September prior to UXVY's vertical thrust in early October from 25 to 60.
As Mike expected of the stock, which he described as being in a "combustible state," the lid, in fact, blew off the VIX again, with the UVXY reaching a high of 30.22 by today (Friday Dec 12).
Mike by then had exited his trade, and noted he was waiting to add the stock again on weakness for a move into the 36-38 next target zone.
See Mike's charts on the UVXY from Friday Dec 5 and Friday Dec 12.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts on
ETFs for precious metals, energy, currencies, and an array of equity indices and sectors, including international
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