NGL Energy Partners LP (NGL)

[jugs]

NGL dropped to my low of $11.50 just long enough to fill my $11.50 order for 100 units. I doubt it would have filled, had I tried to pick up 300.

A word of caution here:

Yes, we're seeing a rebounding. But I'll betcha it will drop back again. I see no reason to expect otherwise and that tells me my $11.25 may fill. And if not today, there's always tomorrow, right?

The point is that we need to exercise patience. There's a plan in motion---add as possible---BUT only at prices we find appealing. What with my cost basis at $13.70, anything near $11 works for me. But I don't want to pay more than necessary, either. Because we're a long ways off from our next guidance for Q2, I know there's time to hunt effectively and pounce on insane firesale prices as they come along. Today's $11.50 was one of those rare moments but only if we don't fall back to $11. So we need to be careful, smart and above all---patient.

Good hunting!