High of $192??I don't fully understand the potential of this play. It reached its 52-week high back when NG was at its high of over $13 and then plummeted along with the price of NG until it reached where it is today (so far, so good). Now, this ETF is supposed to double the moves of the price of NG, is it not? For NG to get from its present price back to its 52-week high requires an increase of 400% which would mean the price of this fund should increase 800% bringing it only up to about $50. Obviously I'm missing something here and would appeciate some enlightenment. How is it possible that this fund was ever worth $192 a unit? IF the price of NG returns to $13+, does that mean this fund will retrace its high of $190+??
I'm trying to find the downside in all this, but any way I look at it, this play is an easy triple in the mid-term. $100 000 in, $300 000 out within 2 or 3 years!....I've gotta be missing something! Anyone??
BB