DGAZ tracks three times the inverse of the S&P GSCI Natural Gas Index Excess Return. For those complaining about the 3 times short ratio, you will see that yesterday the S&P GSCI Natural Gas Index Excess Return was down almost exactly one-third of the drop in DGAZ, so the 3X correlation is in place.
GSCI roll date starts on the 5th business day of the month and lasts 5 days (Say March 7 to March 13 will be the roll days). DGAZ will be in the April nat gas futures contract until March 14th, when it will have completely rolled into the May contract. DGAZ has nothing to do with the current March futures contract that is trading over $6.
Source (UNG tracks the S&P GSCI Natural Gas Index Excess Return also, so these roll dates apply to DGAZ too): http://bit.ly/LwDPOs
VelocityShares 3x Inv Natural Gas ETN......DGAZ Phone: 877-583-5624
As a result of growth in production, domestic production is soon expected to surpass domestic consumption of natural gas, and by 2018 the United States becomes a net exporter of natural gas for the first time since the 1950s. By 2040, net exports of natural gas reach 7.5 Tcf, which is 18% of total U.S. production.
Chartz of Nat Gaz movement
The real seasonals of natural gas This is why it is not uncommon to see natural-gas price weakness begin to enter the market in June and price strength appear in December. The seasonal chart below illustrates this tendency clearly.
The fundamentals of natural gas in 2016 The chart below illustrates 2016 inventories in comparison to historical highs and lows for different times of year. Note also the cyclical trends in supply discussed previously.
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