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 These pages have been filled about prognostications about natural gas– and how the UNG etf has been a fast trip to the poor house (courtesy of the brutal roll/contango).

In the spirit of Ecclesiastes 3:1,  I humbly report that the contango in natural gas has finally collapsed. The spot price– all through next year's hurricane season is strikingly flat.

This means that venturesome bulls can own the UNG for several months with virtually no negative carry. And only minor carry thereafter.

This does not mean that natural gas prices will necessarily rise. But it does mean that holders of UNG will no longer be walking up the down-escalator.

Note to Bob Crachit: tell Mr. Scrooge to replace his coal fireplace with a cleaner-burning, more-economic natural gas-fired stove.

Anatoly Veltman writes:

What a downhill ride it has been since $13.69 futures peak of July 2008! This week's slide is likely to suck newbies into a Short position. Exactly the category of johnny-come-lately's who got involved in NatGas futures for the first time in their life back then, cheered on by Cramer's chant of the inevitable $16 target. If you hear what DOWN-SIDE is being targeted now, please let me know


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