Thursday, February 23, 2012

Following UNG's New Kiss of Death, a Very Ugly Natural Gas Storage Curve Appears

UNG reversed split yesterday, shockingly, for the 2nd time in less than year. The first one was a 1:2 and resulted in a 50% loss. The 2nd one was 1:4. Shocking is why anyone buys this ETF.

A beautiful chart - if you were short UNG.

More worrisome is the very ugly natural gas storage report:

The red curve is where we are, compared to previous years. Ouch.

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