Velocityshares 3X Long Natural Gas ETN (UGAZ)

[Swing Party]

I guess the roll won’t start until Tues dec 11 with the markets being closed on weds dec 5 in honor of George Bush.

The only thing that will affect NG in the next 4-6 weeks is the weather forecast. I watch the weather closely and took a sizable position in dgaz at the end of last week because I believe eastern CONUS is going to be mild for a while starting mid December. Bulls really want +5 NG. NG kinda stabilized at a relatively high 4.5 to 4.65 area to give the bulls a launching pad to 5-6. There are a sizable number of long trades at this level, which means there couldt be a long squeeze if the 3 week weather forecast goes mild for the balance of December. Weather forecasts can change quickly, but for now it looks like our friend the polar vortex has decided to visit Europe and Asia this December.