as always, there is the market that goes below 2 while all others rally. it is the sucker market. i mention that some years ago.

it may now rally, but, it will be slow like potatoes and sugar etc.. and, the carry/manipulators will earn your premium, as always.

UNG was designed to go to zero. as most ETFs.

No doubt, there are mortgage shorts who are 2X or better SOLD the SAME houses. when you "parse out ' the equity items, it is sooo tempting to sell more than you have...and, i suspect, they did.

icd