Replies to post #22254 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[No-Quarter]

I am watching and learning much. I greatly appreciate your play by play postings and dialog. You are a very skilled trader. TY for sharing some of your wizardry here.

[No-Quarter]

I got into DGAZ early this morning near the top of what appeared to be a UGAZ gap and trap the first 30-40 minutes of the trading day. Now mid-day today I see a .15 contango between Nov and Dec contracts still present.


As today progresses, UGAZ is drifting lower, DGAZ drifting higher. Nov contract expires tomorrow.


I am not sure if contango gets resolved today, tomorrow, or over night tonight, or with a bang or a whimper. Not even sure what to look for when it does get resolved. Still watching and learning. In real time with real money too.

GLTY

[dude iligence]

2 charts to put in your cluebag
Big Knarly Oct/Nov Contango Gap up that never filled



sparked a short covering rally



Today NG broke down below $2.5, from the chart above one can deduce that NG might go down to test $2.47. Go down below that and your into the .15 oct nov chart roll gap. The bottom of that gap is $2.33ish NG.