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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Kayaker	10/14/2008 12:10:00 PM
	Read Replies (3) of 206150

I bought a pile of the Horizons BetaPro ETF HOU (on the TSX) on Friday. Looks like I don't understand how such things are priced. It was barely up this morning even though crude was up 5 bucks from Friday and HOU is leveraged 2x. Apparently it was trading on Friday at a premium to its NAV. How I was supposed to know that is beyond my little pea brain. They only post the NAV on their site at the end of the day. Unlikely I will ever trade such ETFs again. I'd be interested in knowing who pocketed the difference when I bought HOU at a premium to its NAV. So, Friday morning when I wanted to buy HOU it appears I would have to have done the following.... Look up the NAV price and NYMEX crude price at the close Thursday. At the moment I was considering buying HOU, look up the price of NYMEX crude again, then calculate whether HOU was trading at a discount or a premium to its NAV. HOU, trading halts, trading delays, reporting delays, crashed phone system at TD Waterhouse. Enough entertainment for one day. I bailed out of everything and am back to 100% cash. Am at a high for the year, so not so bad. Will watch from the sidelines for now.

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