No. of Recommendations: 3
Final day it was open, I think it was down about 94%.
I was only following on paper with SVXY, but the backwardation strategy of S&P 500 VIX futures introduced on the old MI board some years ago would have gotten real money out a day or two before Volmageddon. *
From 1Q16 when the signal went green to then, it was around a 7-bagger. Of course, if you missed the sell signal, you broke even only a couple of months ago. If you held XIV, you had no such luck as the ETN folded.
I stopped following, but IIRC, the SVXY calculation changed such that the strategy will not work the same as when introduced.
Chip
* That's the only real-time MI signal I recall that was arguably more spectacular than Jim's bottom call in March 2009.
