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United States Natural Gas ETF Message Board

  • s.eranger Feb 22, 2011 7:45 PM Flag

    This Is A Pretty Volatile Message Board

    I don't post here often.

    The truth is, I bought 3000 shares of UNG at $10.00 and didn't understand the investment, and neither did my financial adviser. I didn't fire him, because he has made me a ton of money and saved me from making allot of big mistakes.

    I have a friend who is an energy analyst in Houston who explained the whole "contango" thing to me. No question, this investment sucks. It is flawed. The trend in NG is against us, and we are standing over an abyss as we speak. The NG companies are hedged and thus will continue drilling at least in the short term, and there may be the attitude they don't care what they sell gas for if they are an Integrated company who sells oil, and NG.

    I think this is going lower. That being said, it could spike up once it hits bottom (wherever that is) because someone has to make money and I think the crap is manipulated.

    Certainly, there are better places to put money than UNG.

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