Good! Gooder! and Goodest!
I've got to smile at reading your smartly using the Eastern Seaboard drinking lunch describing NYC brokers. I've used it many times, myself, as you know, but you were shrewd in carefully placing your bid price in a GTC order. By the way, my execution this morning was the same thing--- except I paid $13. And it was a long-standing GTC, too.
These are not the easiest of trading times for us. We sense that we're making smart moves and we couldn't move on buy orders were it otherwise. Still, as we step back a bit, we find price erosion, not growth, and it has to be challenging for us both. Today's gains magically transform into tomorrow's profits wiped out.
So we tell ourselves it will work out soon enough for we know it will. Still, only a fool would dare suggest this is a shoo-in. Yet anyone working the stock market must accept at least a few things or find himself unable to move in any direction.
Yes, I expect a fine reward awaits us. As things currently stand, NGL will be paying me nearly $22,000 yearly. I'm not counting on it any more than I've counted on our seeing quarterly distributions rising by 10% yearly for the next several years. There are no guarantees on anything, as we are often reminded and this is staring right at me now.
Knowing nothing is guaranteed, I know we have little choice but to do the math over and over again and hope our conclusions are sufficient predictors of what will be. Along with this type of processing comes a mandate I constantly address:
"Don't bet on anything yet to happen!"
However, my instincts and personal experiences plus a bit of brain power have me believing we're going to come out of this period far better off than might have been the case were we not sidling up to our picks. Today's drop is large---some 70 cents at this moment. But I think that amount of damage is pretty much a done deal and I doubt we'll be closing out the week tomorrow at $12.90.
So we look forward to seeing our hopes and ambitions realized. I do!
