Turn Date: 6-23-2016 | Call: Brexit VXX Short-Term Bottom
Target: 12.90 | Actual: 12.76
Margin of Error: 1.09% | Max Return: 38.42% | Return-to-Risk Ratio: 35
On May 23, 2016, Matt says he believes that the Pound must fall and therefore he believes that the UK is likely to vote to leave the EU. Then, on June 23, shortly before the votes were tallied, VXX, the Volatility ETF, reaches his target low – indicating that a volatility event is about to take place – meaning a Leave vote is imminent. He buys VXX only hours before the Leave vote is announced.