Interesting ---I'm noting that while I'm well underwater (perhaps not quite the right word---underwater is never 'well,' is it?)---I'm now down just $8.5K's---nicely improved from the $14K's of mere days ago.
So what gives? I think the shock of ALDW going nowhere very meaningful in the near term has finally become acceptable to the masses. It's sinking in that we await news of improving margins and this, of course, will happen sooner or later. I'd be remiss, on the other hand, were I not to add that a sharply contrasting trendline is so highly unlikely that it would be unrealistic to build a large position with attendant resources committed for the longer term.
Still, I'm hoping to accumulate more units throughout the rest of this year. Should they become super cheap due to an announcement establishing there'll be no distribution for Q3, that'll work for me as the unit price will likely drop accordingly. If we build a noteworthy position by January of 2017, the wait for a payoff won't be far off. There is a caveat, however:
The cost basis of all position add-ons MUST be crazy low, else we're forcing hard-earned cash to remain idle for another half year.
As a retired senior, I nevertheless view deployment of my capital as a proxy for my former labors. I would never have tolerated working a half year for no pay. Why would I accept no pay now for my cash?
This is why I don't view distributions as a substitute for fresh profits. The real money is in recalculated valuations because it's what forms the basis for profits coming from capital appreciation.
