"Perhaps it's in millennials' best interest to be forced out of this position. The VelocityShares Daily 3x Long Crude ETN (UWTI) was one of the riskiest ETFs on the planet. Tied to the oil market, with triple leverage that gets reset each day, it could make huge gains when prices went up, but with a structure that causes returns to corrode over time. It also had credit risk due to it being an exchange-trade note, which essentially makes it an unsecured debt obligation of the issuer. "
Yes, after all this time of not worrying about millennials losing money in leveraged oil, perhaps it is in millennials' best interest to get shut out at the bottom. Cheese and crackers, who writes this mind control shit anyway?
Mark my words, those who lost money in this are going to be screaming bloody murder when oil turns up hard whether or not VelocityShares is acting in good faith with this move. Lawsuits will result and VelocityShares will be accused of shutting the fund down due to insider knowledge that oil was about to go back up (i.e. inflation). I'm not accusing VS of any wrong doing but since nothing is as it would seem these days I have learned to expect the unexpected.
Also, is it just a coincidence that this is happening all of a sudden after Trump gets elected and interest rates begin to climb? Well, we don't have a clear 5 wave move up off the bottom in interest rates yet, we do have a breakout of resistance. It is the nature of the coming peak and more so the subsequent pull back that will be telling.
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