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I have been reverse split on many of my short ETFs including SRS, VXX, ZSL and now TZA
Reminder - Direxion ETFs Reverse Split
I have a couple of theories on these reverse splits..
Best case scenario is that banks are splitting these so fewer traders can afford to buy them when the banks decide to run them violently higher..
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Worst case scenario, and I have experienced this one, is that banks reverse split these shares to give them a lot more room to run them ever lower..
If I EVER get the chance to get out of these heavily manipulated market short ETFs I will do so and permanently remove them from my watch lists..
At this time the market most definitely IS a gulag casino that is ONLY about punishing shorts so severely that they will never ever dare attempt to short the market again..
Greg
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