But that applies to everything. The commodity markets are more reasonable. When trading an etn you don't have to take on the contract risk directly. You still h

But that applies to everything. The commodity markets are more reasonable. When trading an etn you don't have to take on the contract risk directly. You still have to worry about contango, but not the contract. Did I predict the blowout in February? No. But I could tell it was going to keep going down. Right now it's a bit hard to guess given the doldrums. Still it's far easier to have a rational position that stocks on general.