The $2.50 level is an area that I’d be interested in watching. And then again, the $2 level. I am long in this market via the ETF in the United States, the UNG ETF, but I don’t have a huge position and I certainly wouldn’t be levered to natural gas because this is a market that can jump quite wildly. And most retail traders just simply don’t have access to the kind of information that matters, plants opening, closing, output, input, pipes in the United States, transmission, whether or not storage is full or not, weather over the next week, which is always a bit of a question as well, and a whole litany of other geopolitical concerns.

It’s a very tough market. I don’t mind having exposure to it, I just don’t want to be highly levered. A pullback probably has me adding more to my position to take advantage of, maybe in the fall as temperatures start to get colder and we start to see winter over the horizon.

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