UGAZ - continuing to climb

With natural gas prices continuing to climb, the 3x lev' (bullish) instrument of UGAZ settled strongly higher, +12.1% @ $30.54. Near term looks bullish, with general upside into March. As spring draws closer though, the gas bulls are going to face the green shoots of a milder spring.


UGAZ, daily

Summary

*first, an update on Nat' Gas, weekly

The highest daily close for Natural Gas since Feb'2010.
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For those that can tolerate the volatility, UGAZ - and its sister ETN, the DGAZ (3x short) are proving to be very dynamic price movers. That is no surprise of course, considering the very cold winter in North America.

Unquestionably, as the spring draws nearer each day, the gas bulls are going to face increasing pressure.

As ever, long or short, these 3x instruments are for short term holds only. It is very rare to see a multi-month gain - as remains the case in UGAZ.