Replies to post #22723 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[No-Quarter]

Winter was short this year.

[dude iligence]

NG Trendline chart




NG big bounce off the trendline today took it up intraday to now resistance $2.508 and UGAZ $2.33 +1.98+21%. There is one shot at a winter rally if and only if weather cooperates and gives 3 weeks of cold cold colder freezing weather. Cant be mediocre cold but nasty cold.

The short position increased by almost 50k to 291k. What good is a massive short like that? Throw enough cold at this massive short and NG could take off like a Saturn V. The first hint of that will be a move above $2.5. But right now it has to get back above $2.47.

Nov. 26, 2019 291745.0
Nov. 19, 2019 243372.0