As per Merrill Lynch, you would be up 48% on the spread. 

600px-Earth_Eastern_HemisphereWhat is not as difficult to have seen a month ago is the trend that was playing out being long energy and short technology.  This was a valuation call and a demand call. 

We continue to see the world focus on gas supplies, delivery, and overall consumption trends.  This trade can continue to work but might look to play it in ETF format.sg2014041151152

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