Replies to post #2273 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[MJ moneymaker]

I believe it is overextended and just a matter of time before we have a big pullback or worse. Margin as a percentage of GDP is at its highest level ever. Higher than in 1929, 2000, and 2007.

The S&P is at a very high multiple of actual earnings (can't cite exactly how much). Look at the recent rounded top of the SPY daily chart. That says top in my book. I pulled all my 401k money out of stocks over the past 2 months and put it in low yield, safe investments.

I don't think oil and raising interest rates will cause a housing bubble type crash but it could get ugly. I wouldn't be surprised to see the Dow hit 14-15k area or lower before goin up more.

[BottomBounce]

$UGAZ Short Squeeze right on point today imo