First time poster long time listener - I am the classic fool retail investor (first oil investment) having bought at 3pm Monday hoping to make a medium term gain on ‘oil prices’ (sadly didn’t read this thread as part of my poor research). Woke with 40% loss next day. (I can afford it fortunately). Now seems slim chance of recoup of my original capital. Consider myself somewhat unlucky with timing (but I have learnt a lot and I only have myself to blame trying to speculate). Given roll over cost to sept already ‘paid’ (I suspect the fund is spreading this cost over next months) the 3 mth future has to double in 3 months to prevent further loss. I may roughly get my original investment back if 3mth contract triples in next 3mth. Roll over fees now lower cos 3 to 4 mth spread only a dollar. Likely feeling usual instinct not to accept my loss (human nature) having lost 1/3 in a hour so reluctant to crystallise loss but probably should, maybe, or speculate further, still holding currently.
OOO Price at posting:
$19.36 Sentiment: Hold Disclosure: Held