Velocityshares 3X Long Natural Gas ETN (UGAZ)

[sumotrader]

Two weeks ago I would have said absolutely, probably higher but now I highly doubt it. With the beta decay eating away at potential returns every day it would take a perfect storm of really cold temps, lower than expected injections and huge withdrawals to get this ship turned around.

I ignored my own advice and started loading when the daily RSI approached 30 so now I am the uncomfortable holders of 5000+ shares in the 5.50 range. If UGAZ dips into the 2's I will have to eat huge losses but that's the game we play.

I'd be very happy to see 6's again at this point as nat gas could have a couple more legs down before bottom.

Good luck