Retail investors try to pick oil bottom and fail

Published Tue, Aug 4 20154:17 PM EDTUpdated Sat, Oct 14 201710:44 AM EDT

Floor hands work on an oil rig in the Bakken shale formation outside Watford City, North Dakota.

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Retail investors appear to have doubled down on oil as prices for the commodity approach a six-year low.

Last month, investors poured $821 million into the United States Oil Fund ETF