Wednesday, November 16

Last night after taking a hit on a DGAZ position I transferred to a bullish position in UGAZ. I generally don’t like to do that, but weather reports are actually starting to call for a colder winter than previously anticipated. The minor La Niña we are expecting this winter has been adjusted further north, meaning lower temperatures and a drier winter.s

Adjusted models make it seem highly unlikely that natural gas prices could stay below $3/MMBtu, so UGAZ will have to follow over the next few days.

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