Replies to post #8058 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[MJ moneymaker]

Yes I was surprised at the resilience yesterday despite bearish report. I think the NG shorts have started a little bit early this summer and we probably get a little bump as the heat returns next 2 weeks.

I'm planning to short this going into fall but not from this level. Needs to be higher before I'd even consider buying DGAZ or shorting UGAZ.