Monday, September 14, 2009

UNG Will Re-Open

"The U.S. Natural Gas Fund (NYSEArca:UNG - News) will accept new creation units beginning on Sept. 28, its sponsor explained in a new filing to the Securities and Exchange Commission. That would end a stalement between regulators and managers that has lasted since June.
Re-opening UNG would also signal the end of a nearly three-month period in which investors watched their open-end ETF trading at huge premiums, much like a closed-end fund."

Fund is down in pre open trading. Under 10.00 , an overlap and slightly more than a 50% retrace, raises the risk of new lows considerably.

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