The Shark Tank: TVIX Goes Off Track

 | Mar 22, 2012 | 3:29 PM EDT
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The comments section of James "Rev Shark" DePorre's column is an open and active forum where subscribers exchange investment ideas and tips. Here's a sample of what they shared today:

phisci 11:19 AM

Bought the dip in TVIX.

ultraphoenix in reply to phisci

TVIX is one screwed up instrument. It's in the same league as GAZ. With VIX and VXX up it should be up, but it's down quite a bit. Something weird goin on here.

ultraphoenix 12:02 PM

TVIX is screwy

slingerland 12:03 PM

spy's are bouncing up, too...???

ultraphoenix 12:05 PM

Something REALLY really screwed up going on in TVIX.

beaky in reply to ultraphoenix

leveraged ETF's are for rubes, fools, and 100 share gamers

slingerland in reply to beaky

that might be a rather broad generalization ... some of them sometimes work ... they do seem to be less and less attractive though.

slingerland in reply to ultraphoenix

isn't that also known as a hustle ... fleece and greeze ... come on down ... boca raton florida is calling ya

Revshark 12:20 PM

VelocityShares Daily 2x VIX ETN sees 13% decline on heavy volume against 5% gain in VIX. That is absolutely nuts. I have no interest in trying to trade something so illogical. 

valleyhood in reply to Revshark

Rev, did you ever end up buying TVIX. I remember your article in mid-February advised you were looking to buy some TVIX. I imagine you thought the better of it.

Revshark in reply to valleyhood

i traded it a little. but it was so disconnected from the overall action i dumped it. It seems to be more and more illogical now. it is just random which makes it untradable in my book. 

valleyhood in reply to Revshark

I agree. I dabbled in it too but have moved on to other more stable vehicles.

ultraphoenix 12:23 PM

Banishing TVIX from screen.

phisci 12:32 PM

TVIX is just another way to make or lose $. I was able to short it at $60 and ride it down into the low $30's before a forced buy-in. I have the equations on how its calculated, but who cares. The game is to trade the vehicle.

ultraphoenix in reply to phisci

if it's supposed to "track" volatility, it should at least make even a smidgen of effort at doing so. How many traders entered into TVIX with the anticipation of increasing volatility. They called it right, but the instrument hoses them big time.

phisci in reply to ultraphoenix

I apologize to those traders that I have hosed. My advice, just don't trade it. But it has made me money and just reporting that I took a new position in this beast.

baronadv in reply to phisci

we're all responsible for our own trades ... no need to apologize

ultraphoenix in reply to phisci

No need to apologize for anything. It's just that if an instrument is supposed to "track" something then it should in some even a minor way. Imagine if Gold was up 5%, yet GLD was down 17%? There would be hell to pay.

ultraphoenix 12:51 PM

Just sneaked a look at TVIX (couldn't resist) down 17% with VIX, VXX, UVXY all up. Absolutely crazy.

Revshark 12:59 PM

If you can make money trading TVIX go to it. I'm just not finding it very easy. 

Otto4 in reply to Revshark

The etf is broken ... I wouldn't touch it.

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