Velocityshares 3X Long Natural Gas ETN (UGAZ)

[wz9ytp]

Top of the morning to ya SD! Hope you're doinv well!! I'm looking to buy into UGAZ within a week or 2 and I'm thinking anything under $2.88 current contract is a good buy.
You do not want to hold UGAZ for long. Adjusted for reverse splits, UGAZ was worth $2800 April 1 2014, $325 April 1 2015, $25 April 2016 and around $17 April 1 2017. But.... had you bought at any of those dates, and held a couple of months, you'd have been up at least 50%, July 1 2016 hit $50 from $25 April 1....
https://m.investing.com/etfs/velocityshares-3x-long-natural-gas-advanced-chart
Contango will eat your money away. As it stands now March 29'th contango decay tripled is around 5.7%, not huge. But it's not rare to see 15% and more.... for just one roll. And that hurts. Thus $2800 to $17 is 3 years.

I'll be selling hold at around GDX $27 and buying about 2000 U's. Hoping to get under 17 by April 1-2...after contract expiry.

Happiest of trades!