Replies to post #2056 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[MJ moneymaker]

Thanks bud. It's really all about the weather and NG storage. Storage level has everyone spooked right now. That is why natural gas is below 3 dollars and UGAZ got under 4.

I think the cold coming next week (and the cold that's already present where I live) COULD cause a small bounce in NG prices today and going into early next week but I would not be holding shares when the storage report comes out next Thursday.

I'm honestly watching UGAZ and DGAZ hoping that the price of NG will form another channel like it did between 3.60 and 3.80 for awhile.

Good luck to you.