Yeah. A while back I had bought some UCO stock. My friend got lucky and made some real good money but I have been holding onto it watching it fall, and fall, and fall. lol I'm holding on for the long term hoping it goes back up. It was a rather cheap before the 1:5 reverse split made it more expensive.
I made some quick money awhile back, then lost 1/2 my gains in about 2 days on an oil index.
I started reading up on what 'contango' (1) meant, and decided they weren't looking at until maybe this fall.
(1) earlier this spring, futures prices for the fall were considerably higher than the spot prices, which means it made more sense for oil companies to store the crude than sell it... as storage capacity fills, contango gets pushed out further unless the oil supply decreases- as in the case of oil drillers going bankrupt.