Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

Contango gap closer underway. When the chart rolled there was .15ish contango $1.72 to $1.87, 8%. Tonight NG is $1.81 still .09 left to go to close the gap. Whats important is 8%x3xleverage is 24%.Thats how much UGAZ will have lost and DGAZ will have gained when the gap is closed. Contango is brutal on UGAZ holders at the wrong time of the month and benefits DGAZ holders. Gotta know when to hold and not hold UGAZ.