Replies to post #4444 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[dude iligence]

DW one thing for certain they don't want NG to get above $2.93. I been saying when NG closes above $2.85 the shorts will crap their pants. It has become clear NG aint going back to $2 $2.25 or $2.5. When NG gets above $2.93 it is now not only making higher lows but it will no longer be making lower highs it will be making higher highs.

The stage is set or one big short covering rally.

NG has had monster runs in the past that had absolutely no correlation to EIA estimates/reports or weather. Sometimes it runs on pure good old speculation, momentum and greed. Or in the case of the shorts Fear.

[researcher59]

Dragon: EIA NatGas price forecasts are revised monthly, not weekly. The EIA releases a widely watched weekly inventory report each Thursday morning at 10:30am. The inventory injections/withdrawls vary a lot depending on heating or cooling demand for the prior week which is weather dependent.

I think the EIA 2015 and 2016 price forecasts are reasonable. They've been coming down steadily for several months due to bearish fundamentals. The past 12 months have seen record storage injections despite a very cold winter.