U.S. Natural Gas (UNG) tumbled 4.3% today, but its underlying value slid 8%, pushing the premium back to 17%. I explicitly warned of this situation last week in " Natural Gas Heads for Super Contango." The difference between the October 2009 and November 2009 contracts on NYMEX is now a gigantic 46%.First Trust ISE-Revere Natural Gas (FCG) gained 0.1% today, mild but far better than UNG. Meanwhile, JPMorgan Alerian MLP Index ETN (AMJ) gained 0.6%.
Natural Gas Falls While Gold Surges
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