I'm as discouraged as the next person in UNG but I'm not going to sell my shares at these prices. For all the gloom and doom out there about UNG and Natural gas prices were not getting killed today as one would think... Natural Gas is not going anywhere and it might even become sought after in the future. At these lows (around 2.50) I think this is a steal for those who can hold on and wait a bit... It wouldn't surprise me to see NG around 4.00 by the end of the year... Holding firm and keeping a close eye open... Go Longs...
I suggest you learn how UNG tracks NG.
Conango take s a huge hit out of that tracking. And premium is still high 15% now (almost 15%). Premium has actaully increased today since UNG has done so well compared to what it should have done.
That has to come out though (-1.30 for premium = 7.70 NAV.
I didn't want to believe that at first since I had bought UNG as a hedge for my NG requirements over the next year or so. When I found out what was really up, I finally sold out yesterday and went short. Still some room so think about that.
You might be right and good for you if you are but I'm keeping my position and not selling. I may change my mind in the future but for right now my other stocks (not ETF's) are more than covering my loses here. So don't be to concerned about me.
What kind of friggin' idiot are you?
You obviously have no idea how the fund is structured, how futures work, or what contango is.
You are an idiot
This fund will be closed liquidated in the next couple of months for less than $5.00 per share