After hitting $9.24 intraday, we settled back a bit, landing at $8.97.
Earlier in the week I'd projected we should hit $9. Frankly, having hit and/or exceeded that figure doesn't impress me as I'm wanting to see our units fetching $9 or greater ON THE CLOSE. I'm looking for the iron-clad affirmation of $9 representing our unit's fair value.
This much I can say:
If units are toyed with tomorrow as may well happen, thus bringing the unit price down to $8.75, I expect to pick up another 500 units. This will position me to hold 22,000 units while preserving my cost basis which happens to be $8.75---when the 15 cent distribution is delivered next week. And this scenario is hardly surprising to the astute trader understanding the tug of war. We got to $9.24 today. We will eclipse that amount tomorrow or early next week---there's lots of reasons to expect it and none to suggest otherwise.
I rarely pay in excess of my cost basis on any stock where I have a sizable amount invested. Cost basis is just about the main feature for me as an investor/trader as it determines the degree to which I may profit.
I hope others here are realizing profitability in ALDW in their accounts. I'm ahead just under $1,500 which isn't much to be said for such a sizable cash outlay. But I firmly believe the best is yet to come.
Remember. $15 is the magic number. If your cash basis is $10, we're looking at a possible if not probable 50% upside. How often do we stumble upon opportunities suggesting 50%?
Too, the original NTI was swallowed up by Western Refining. I'd assume that deal was a critical next step so that today's announced deal for Tessoro swallowing WNR could take place. I'm truly happy for those who see their selling now as a heaven-sent gift.
And I'm thinking this may be just the tip of an iceberg we don't yet see---perhaps ALDW will find itself on the auction block, too. Boy, would I like to be on that chunk of ice!!! Consolidation has reared its beautiful head once again.
