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UGAZ Capitulates On 'The Bloodbath' - It's Time To Get Long

With the EIA Natural Gas Inventory report coming in at -115 BCF against expectations of -121 BCF and the subsequent drop in natural gas pricing, which is most popularly played using The United States Natural Gas ETF, LP (UNG), I believe post-Blood Bath the bottom for natural gas is in. I'll explain further.

(click to enlarge)

After outlining the longer term natural gas bull thesis (click "Blood Bath" above) I believe "The Turn" for natural gas pricing has happened.

Now, what does that mean?

I can't possibly outline my positions in real time to readers outside of guiding that I own VelocityShares 3x Long Natural Gas ETN (UGAZ) at $2.90 and will add to my position tomorrow in the early AM to average down my cost basis. Over the next 9 months I'll be offloading and adding to my net natural gas exposure, inclusive of selling and buying UGAZ… Read More …