This is pure speculation. UNG is trading in low to mid $7 now, with the life low at $6.82. With the current trend and the way the fund is set up, there is no doubt that it will drop below $5.00. This will cause a lot of problem in the financial market. With this, UNG may have to do reverse split, just like what ProShares did with some of its ultra-short ETFs. They did 5:1 and 10:1 reverse splits. The huge contango market really hurts it.
NG is scraping the bottom of the barrerl right now--it was same with USO and contango--if it doesnt go any lower by july- load up-pretty easy money
The only time NG was backward was the past winter, for about a month or two. Then the H/J slipped to negative. This is with one of the coldest winters in many years. The last time I checked UNG, it had about $4BB, now is is just about $3BB. I think this is mostly from NAV change. So most investors still hold onto the unrealized loss