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Natural gas climbed higher yesterday and UNG rose over 5%. Because the TSX was closed, HNU was not traded.
This morning, natural gas February contracts continue to move higher to $4.68. If this continues, at the open, HNU should jump over 10%, possibly 12-14% since its last price of $6.67.
Note however, that contango's ugly face is showing up again, which is very bad news for UNG, although the situation today is slightly alleviated until June/July contracts. Contango is terrible news for UNG.
Disclosure: long HNU.
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