Replies to post #23240 on Velocityshares 3X Long Natural Gas ETN (UGAZ)

[DeafTrader2]

Are you still sure of this statement about this ticker is going much lower than 20 pps ? Do anyone can back up this ? Not me .

[dude iligence]

Translation breakout pressure continues to build as NG makes higher high higher lows. Common guys dont you know what time of the month it is? How many times have I explained contango and the effect it has on 3x UGAZ/DGAZ as the contract rolls and contango unwinds. It can be seen in the hourly finviz chart. The chart rolled, see the gap up that is the contango gap when the gap is closed or tested consider it unwound. Basically the price of ng will be the same but ugaz will have dropped 3x the percent of that gap frt to fwd month which ugaz is already trading. Then on 5th trading day ugaz will start rolling to July which is priced higher as well. Ng is a complex trade, with much risk not for everyone.