Recent content by mwgwin

Thank you, this is the best explanation of the situation I have read so far. Thank you for explaining it in an easier way. I was one of the rookies that bought into the USO ETF thinking it was a fund of OIL companies and realized it was investing in oil futures contracts. I now know a lot...

It must be like a right of passage, because its killing me right now and I just cant seem to be able to eat the loss. I just watch it tick all day... Im so stupid.... ugh... I finally put in a Stop Loss at $2.30... I keep tricking myself that if I just wait for the SEC to approve more shares...

Exactly what I thought...

I just read about this 1 for 8 reverse stock split and I'm not sure this if this is a good thing? Sounds like it just makes a plummeting stock cost more? But may jump a bit with a surge of new investors by creating additional volume...

I read the prospectus (just got it today, but should have looked it up), sure wish I had prior to investing... but I think I understand it now. If I pick up correctly, this fund is basically an oil contracts futures fund, which I do think should be named as such, but I get it... buyer beware...

Looks like OIH is oil, XLE is Energy, but I am picking up what you are putting down.

Id like to know the answer to this as well.

Thank you. I see that now... sigh.

Please help a dumb rookie here. When the fund is "liquidated", does that just force a market sell option for anyone who holds that fund? I am one of the apparent numbskulls who bought this expecting it to be a package of representative oil companies... I now hold about 4000 shares at a basis...