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If UCO almost becomes worthless, it might make sense for them to discontinue it. The bottom line, nobody invests in leveraged items as a long-term investment. They are meant for short-term trades.
If UCO almost becomes worthless, it might make sense for them to discontinue it. The bottom line, nobody invests in leveraged items as a long-term investment. They are meant for short-term trades.
Sure, but some people define short term as 5 years, or 2 years, etc. If UCO is at $14.50 today, and dropped to $12.50 in couple of weeks, and go up to $19.00 next year, someone who gets in in few weeks and dump within a year, it's still short term investment.
Sure, but some people define short term as 5 years, or 2 years, etc. If UCO is at $14.50 today, and dropped to $12.50 in couple of weeks, and go up to $19.00 next year, someone who gets in in few weeks and dump within a year, it's still short term investment.
Less than a year is considered short term, not 5 years. I'm not going to try to convince you because it is your money, I'm not getting paid. I will just leave it as this... you do not hold leveraged ETFs long-term, it's common knowledge. If you don't understand this, than all I can say is good luck and I hope you never experience a bear market because you will be one of the thousands that get killed.
The last oil bear lasted from 1990 to 1999. It could go down for years to come. Also, alternative fuels are becoming more competitive putting oil's l/t value in question. Lastly, this smells BIG TIME of anchoring here - because oil had a certain value in the past it "looks cheap" because we have our internal anchor set but that has nothing at all to do with reality.
Good luck holding UCO over 2 year LOL just don't blame Wall Street "Fat Cats" if you lose 99% of your money.
Losing 99% of your investment in UCO only occurs when and if oil prices stays $30. What are the chances of that happening?
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