Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Storage is still 1.5% above last yr and 5% above the 5yr. It may drop below last yr fairly soon which would confirm your last sentence. It may take a while before it drops below the 5yr average. The large .26 Contango could knock UGAZ down despite NG staying the same. We saw this last fall winter repeatedly. Holding UGAZ thru cotract roll when NG is going sideways is costly. This could be a op for a good entry.