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H. T. Love
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Spent over 30 years in computer systems work, many different functions. Owned my own business for awhile. Got tired of it (managing employees is not my baliwick) and stopped doing it professionally. Did other things, off and on, for some more years and finally bumped into this investing/trading... More
  • UNG Status: Uncertain future 3 comments
    Jul 29, 2009 3:25 PM

    Today, UNG made this filing with the SEC.

    In summary, UNG must reduce its positions at ICE and NYMEX and does not know if it  will be able to, or want to, issue new units in the future. They currently can not issue new units.

    UNG may be forced into engaging in transactions that do not as effectively meet the fund's stated objectives. UNG will be entering the OTC market to attempt to continue to meet the fund's objectives since the CFTC has determined that the swaps at ICE are a significant price discovery mechanism and will be subjected to position limits.

    We'll have to wait and see how this affects the long-term correlation of NAV to the stated objective of tracking natural gas prices.

    I welcome any comments about the effect of this and any discrepancies you may spot in my assessment.

    Disclosure: long UNG, short calls.

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  • H. T. Love
    , contributor
    Comments (19539) | Send Message
    Author’s reply » Freya,


    It came through perfecto! Thanks. I'm still looking for a good winter forecast. I keep going there and searching, but I've not found one yet.




    On Aug 14 05:54 AM Freya wrote:


    > I do not know if this will go through okay but it is an interesting
    > video:
    > www.accuweather.com/vi...
    > an observation by Bastardi
    14 Aug 2009, 05:52 PM Reply Like
  • H. T. Love
    , contributor
    Comments (19539) | Send Message
    Author’s reply » Thx. Bookmarked for reading. Working tax stuff right now. UGH!




    On Aug 18 10:18 PM Freya wrote:


    > This particular article may not be in your Bailiwick but I really
    > have nowhere else to put it and it is definitely readable.
    > MENA, Middle East/North Africa region: 33 refineries
    > www.zawya.com/story.cf...
    > Who needs refineries when the finished product is available and ready
    > to be delivered to the coast of your choosing.
    24 Aug 2009, 04:55 PM Reply Like
  • H. T. Love
    , contributor
    Comments (19539) | Send Message
    Author’s reply » Ah! I didn't realize he was an independent.


    Maybe I've progressed to the point I should start paying for some subscription resources. Hmm. Can I overcome the Scots blood thats mixed in my veins? ;-)


    G' it a lil time lass! :-))




    On Aug 19 11:05 AM Freya wrote:


    > Joe B's forecasts are not free. He is a Gun for Hire. Its rumored
    > that Buffett used his services a few years back to write a Bunch
    > of Hurricane Insurance after a Bad hurricane season.
    > His Winter Forecast is released after his subscriber's receive it.
    > There is usually enough time to take individual positions at that
    > point.
    > I'll hunt and peck at the site, see what I can find on a freebee
    > basis.
    24 Aug 2009, 04:58 PM Reply Like
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