NGL Energy Partners LP (NGL)

[jugs]

Just had to do it---picked up another 500 units of NGL in premarket---managed to get them at $12.85, better than the $13 I paid earlier this morning for 300 units.

So my total position (s) now come to:

15,000 units with a cost basis of $13.52.

I've got a margin balance (money borrowed on my account: $78,400.

Here's the twist: Previously I called Ameritrade and renegotiated my interest rate downward from 8.2% to 5.4%. Should I expect NGL to rise sufficiently from this day forward to reimburse me for my costs of carrying margin? We're talking about a monthly charge of $353. And it will be deducted from profits come tax time as it's a business expense.

I figure I'm going to gain at least that much today and more as we move closer to August 4th when we go ex-distribution. Too, the 800 new (for me) units will hand me a $312 windfall payable on August 14th as a distribution. In total, 8,242 NGL units are in my primary account which is a general one and not sheltered. This will reduce my margin by $3,200 as it will be applied immediately upon receipt.

The real question here is very simple: Will the distribution news buoy the unit price enough to justify my taking a chance by adding to debt and obligation?

You know my answer, there could not be any doubt.