This punctuation mark is more than just a spaceholder for words you don't want to include. There is a correct way to type it as well as rules for how to use it in a quote. This lesson will show you what to do when you need to use the ellipsis.
Source: Linda Neuman, http://www.kentlaw.edu/academics/lrw/grinker/LwtaEllipses.htm, http://grammar.quickanddirtytips.com/ellipsis.aspx