Sorry, thought you meant UGAZ. Both fell off the same cliff from their highs, but UGAZ fell much further. I would not hold that, with winter winding down, and uncertainty about the weather. Hope you took profits there if you bought under $19. Damn, it jumped $2.50 off the lows, but gave back a dollar. This can be a money maker with these products from Proshares if you are a NG trader. I can see why some people only trade NG. The good ones must be really rich. Some of them play NG companies, but I don't see why, when there is so much more movement in these leveraged products. I love Proshares. Wish I had discovered them last year. I would be retired in Rio right now. Hindsight always 20-20......
Hence my message to sell. They are taking any profits very fast, as winter winds down and uncertainty about the weather persists.
OTOH, I fell asleep right before close as market was dropping and UVXY was going up. When I awakened, I see market down 50, but UVXY down 20 cents. It's supposed to go up in a down market, and did for awhile, but in the end it just keeps rolling back down hill.Gotta love that it has decay/contango built in. You can't lose, and can make big money if market goes up. Everyone should grab shares of that short if you can get them and hold on. Over time you can't lose. Never heard of anything like that before in my lifetime. Unbelievable product. I don't even worry holding it at all. No stress.
I know, but so hard to get these, and it ALWAYS goes down over time.
Look @ the prospectus @ Proshares. It says: "Not an investment!", "Do not hold long, even overnight". As long as FED is propping this market up, it can't fall too hard. They are pumping billions all the time. This will crash by the end of the day, IMO.