RE:RE:RE:RE:RE:RE:RE:NAV was $0.37 at beginning of dayI don't understand it either. It's crazy. Normally markets are pretty efficient. I think it's retail investors buying the stock as a way to buy low on oil, and trusting the market pricing is efficient, but it's not. I think we're going through a once in a lifetime moment and the market is not functioning properly, in particular leveraged oil futures ETFs. I think right now is a gift to get out while you still can at an artificially high price, and people should stop buying this until it's fairly priced. As soon as this stock opens back up to institutional subscriptions, I think it will trade at NAV (and expect there's a lot of shorting going on, whcih will be coverd by subscriptions at NAV).
I bought this yesterday thinking the same as above. I think oil will go up. But HOU is not the way to do it at these prices.