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...held the equivalent of more than 50% of the October contract's open interest. In following its plan to buy and hold natural gas, UNG keeps rolling its position into the next futures month. In other words, every month, UNG sells its enormous long position in the front month - representing the price of natural gas closest to the present - and buys back as much as it can in the next contract month. The idea is that UNG is always trading the most liquid natural gas contract, but the problem is that UNG has become too large for the market...
...equivalent position in the October futures contract amounts to over a trillion cu. ft. of gas. Given that the U.S. consumes an average of about 2 trillion cu. ft. of gas per month, UNG's position in the front month - at over half of that month's consumption - seems too large for a purely speculative fund...
What's next for natural gas? Most likely, more weird volatility. As UNG continues to roll month to month, the front month will continue to get pounded down. The markets will not hit a true support on the bottom until traders know for sure how much storage the U.S. can actually handle. Whatever happens, this will be a volatile time for natural gas, as traders battle out prices amid uncertainty of true storage capacity. (See the video "The Truth About Solar Power...
Here was Ted Kennedy, 74-year-old son, brother, father, husband, Senator, living history, American legend. He was sitting on a wicker chair on the front porch of the seaside home that held so much of his life within its walls. He was wearing a dark blue blazer and a pale blue shirt. He was tieless and tanned on a spectacular October morning in 2006, and he was smiling too because he could see his boat, the Mya, anchored in Hyannis Port harbor, rocking gently in a warm breeze that held a hint of another summer just passed. Election...
...want to visit the front line of China's environmental struggle, there are lots of places to choose from. You could drop in on Changqing, in northwestern Shaanxi province, where on Aug. 17 hundreds of people stormed a smelting plant blamed for toxic emissions that left more than 850 children with lead poisoning. Or there's Wenping, in central Hunan province, where days later 1,300 children were found to have been sickened by pollution from a manganese factory...