Moments ago the Dow Industrials and S&P 500 rallied enough to send the share price of ProShares Ultra VIX Short-Term (UVXY) to my recommended sell stop at $33.58.
If you owned UVXY per the original recommendation, the stop out still amounts to a gain of roughly 16.4%, before broker commissions and fees.
If you didn’t own from the original recommendation, you likely booked a loss.
Either way, you should now be out of the position. If you still own shares in UVXY, for whatever reason, exit now at the market.
There’s no question my models have been wrong on the stock market. At least recently. I am not happy about it. However, there is also no doubt in my mind – whatsoever – that the U.S. (and European) stock markets are not in a position to move much higher at this time …
That the new bull market I have been warning of longer-term – is not yet here …
And that instead, a potentially massive pullback is still the most likely course of action.
For now, stand aside the stock market. I will likely have you re-enter a bearish position, but wait for my signals.
Hold all other positions and stay tuned.
Best wishes, as always …
Larry
