USO feels like US No!

[arizona]

I bought both USO and USL near their lows and I'm quite frustrated at what sure seems like these products are not even close to mimicing the performance of the spot price of oil which, as of this morning, sits above $71/barrel.

I understand that these products track the price of futures and I've heard the whole contango story but it's my understanding that contango has unwound and these products are closer to their true price and are actually closer to backwardation now. Is this accurate?

I'd love to see a chart which overlays the spot price, the futures price and the prices of both USO and USL.

Investing is difficult enough that when you get it right and you don't see the returns in the products you buy it makes you scratch your head.

No one reads the prospectuses yet the advertising sure seems to lead the average investor to believe that if you want exposure to oil then these products are useful.

Is this another example of the average investor being fleeced in order to line the pockets of those on Wall Street?

[hougan]

Arizona -

Please see my blog from earlier today.

http://www.indexuniverse.com/blog/5993-whats-wrong-with-etfs.html?Itemid=3

Thanks,

Matt Hougan

[iuerhiguerhg]

xxx ????? letitbit