Has anyone been following this ETF? It's intended to track with the price of gasoline in the United States. I'm seeing gas prices I haven't seen in years, so it's hard to imagine prices will be going too much lower. And of course if they do, the price I pay at the pump will hedge the price I pay for this stock. Also, historically gas prices go up in the summer. This stock seems like a no brainer to me, which always makes me a little nervous. Unfortunately it has no options volume. I'd be tempted to buy some calls for July of next year. Anyone have any input about this fund positive or negative?
I don't have an opinion, but I took a look at the chart. It appears that if anyone had bought the gasoline contracts on Feb 1 and sold them on Jul 1, they would have made money in 2006, 2007, and 2008. If the pattern holds and UGA tracks the contracts as expected, I would be a buyer on Feb 1, 2009.The chart:http://stockcharts.com/h-sc/ui?s=$GASO&p=W&b=5&g...Good trading,Mike
This turned out to be an excellent trade as UGA appreciated about 50% from Feb 1 to Jul 1.
Ah, this is a nice blast from the past. Sadly, I didn't make the trade, maybe next year!
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