Archive Category: 10x Profits Archives

Just a short note this week. As you already know, we’ve been “flat” (holding no position) for several weeks now. So I don’t have a monthly performance update to share with you. A number of you have emailed my team and me in recent weeks to request that I continue to share updates on the model’s recommended position — risk-on or risk-off — as you use the model to time your entries and exits in other stocks and ETFs. I’m happy to!

Last week, I explained how Barclays’s VXX remains at a standstill. Several regulatory moves must be made before the once most-popular retail volatility (vol) product trades normally again … if it ever does. Trading volume has all but dried up as everyone waits to see the next shoe drop. I also promised to explore alternatives to VXX — new and existing products that could give us easy, “one-click” exposure to the long-volatility trade. Let’s get into that today…

To follow up after my note last week, I don’t yet have a substantive update on our “risk-on” vehicle, the iPath Series B S&P 500 VIX Short-Term Futures ETN (NYSE: VXX). I want to share the latest rumblings and observations, though. For flavor, a U.K.-based financial news site reported that a large shareholder of Barclays’ stock asked the company, plainly: “Whose heads have rolled?” One scapegoat target could be Barclays’ CEO, C.S. Venkatakrishnan, who just assumed the bank’s top post in November 2021 … though he served as chief risk officer in 2019, when VXX’s sales limits were likely first exceeded.

I don’t have a full issue for you today because my team and I are meeting to discuss several topics — one of which is our plan for our risk-on position in light of the situation with the iPath Series B S&P 500 VIX Short-Term Futures ETN (NYSE: VXX).