First post on [UGAZ]

UGAZ is the 3x long natural gas ETN.  For the record, I think nat gas is going to see a big resurgence in price in the coming years because the US has woken up to the fact that we are the Saudi Arabia of NG.  We have trillions of cubic feet of the stuff under the NorAM continent.  It's so plentiful in places that you can simply hammer a pipe into the ground to get to the stuff.  In fact, for several years now the US has been building infrastructure for harvesting and exporting this energy resource.  The projects have been moving slowly due to falling energy prices but anyone who thinks that cheap energy is going to last forever just doesn't get it.  After the deflation will come the massive, massive inflation.  Always has, always will.

In any case, the reason I present the UGAZ chart is that it seems to be diving into its 5 and final wave into the start of October which is in line with my top level models which indicate that the commodity rally will begin to assert itself very soon.

The current sell off could just be part of 3 of red 5 down so I am not suggesting that anyone catch this falling knife right here.  We would need more assurances.  So consider this the most optimistic model, not the worst case.  But with other commodities seemingly trying to bottom here, this is a good one to add to the watch list as a data point.