Replies to post #12023 on VelocityShares Credit Suisse 3X Long Crude ETN (UWTIF)

[CyclicalTrader88]

I thought so too but apparently there are a lot of industrial grade air conditioners that use it in factories etc. At a very minimum UGAZ could hit those gaps at 2.50-2.60, that's quick coinage while WTI figures out if it wants to go to 58 or not to fill those nakies.

[kabanch]

This is from the EIA site. UGAZ is almost at the 52 week low witch was $1.74 I think it's a good time to take a position. This should rebound to $2.50+ in a short while.


Consumption of natural gas is seasonal, with consumption patterns among end-use sectors highly driven by weather. Total natural gas consumption peaks during the winter, when cold weather increases demand for natural gas heating. A second, smaller peak occurs during the summer, when electricity generation using natural gas increases to serve summer air-conditioning load.