OK, poor old UNG, the natural gas ETF, seems to be good at doing one thing – going down in price. It has done so quite steadily for the entire year.
I have, however, as of today, entered a not-that-large long position in it. UNG has a mind of its own; it doesn't really seem to much care what stocks or energy is doing (strangely enough). It is its own beast.
My stop is at 8.10, so I think the risk is pretty small. And, yes, yes, I know about all the contango disadvantages and all that hoo-ha. This simply seems like a mildly interesting long idea for the next few weeks.
