Thursday, October 21, 2010

Natural gas: storage and UNG disasters

Here is the natural gas storage as of today:

Note how the line has curved up in recent weeks, reflecting very large amounts of gas in storage. Storage is currently at 3.56Tcf, 1.3% lower than last year (which was a record high), and 8.4% higher than the 5-year average.

This is UNG, a big loser because of contango and roll-ups:


An absolutely dreadful ETF, unless you have been shorting it

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