RE:Lost about $6000 on this since early July, just a studentI felt the need to sign-up to stockhouse just to reply to your comment.
I've been in this since May, even averaged down in late July - but to no avail. This trash just sinks lower and lower. I even had a few opportunities to cash out to break even or with a small loss - big mistake on my part. after all, pigs get slaughtered.
Not only did I fail to heed the sage warnings of more experienced people on this board, I got greedy and stayed in for expected returns. The crash/correction that I anticipated never came, with the exception of Brexit. The saying "markets can stay irrational longer than you can stay solvent" rings very true with quickly decaying ETFs such as this.
Between the CBs propping up the markets, the sideways daily grind of the S&P, the exchange rate and the contango, this is a guaranteed losing play absent some sort of black swan event to roil the markets.
Just cashed out today at 5.80 - I'm absolutely done with this cra.p. No more compulsively looking at the price for months hoping for a saving grace. Good riddance to this trash.
I jumped into THC at .15 and immediately recouped some of my losses, thankfully.
There should be a recurring warning on this board in order to warn newbs to stay away from this. This is permanently falling knife. There is no good entry point, unless world markets are clearly imploding.
You live and learn. Some lessons are harder than others, unfortunately.
Just know there are a few of us in the same boat as you, with far worse portfolios.
Cheers