It’s looking increasingly like I may have to close my position at a slight loss. DGAZ opened down 30 cents from yesterday’s close at 7.70, and volume has remained low so far today. The price may not rebound before the OPEC meeting later in the day, which is more of a risk than I’m willing to take on this position.
From what I have read it seems that over the last week or so NG December futures have been oversold putting upward pressure on DGAZ. This oversold condition is starting to evaporate. Regardless of the truth in that this news is starting to spread – inevitably eroding investor confidence. Prices will drop further today.