From here looking forward, I believe things will become increasingly interesting and profitable. My hunch is that NGL is about to stabilize somewhat, given that the largest imaginable moves (downward) have already taken place and the unit price damage is a done deal to the benefit of those concerned.
It is a major mistake by many investors to look at the carnage and conclude that there's something terribly wrong here.....that surely NGL must be proceeding mindlessly. We need to never forget that every coin has two sides. So it is with stocks---there are two sides to any story. And it should go without saying that there are two ways to invest in a market offering---as one who believes the valuation will be rising---and those counting on the valuation dropping.
As of this writing, I'd say it's a fairly safe bet to conclude most of the damage has already been accomplished and very little is likely to pull us further down into the abyss. I just peeked and find that when I starting writing this missive, we were up a scant 5 cents. But now I see the number is up 40 cents. That's reassuring as I'm not quite so arrogant as to assume I'm always right. Now, if you ask my wife? That's a different story. lol
Momentum is what drives stocks. This isn't complicated, really. A positive spin will remain in motion so long as nothing gets in the way to disturb it. Momentum is the conspicuous speed at which a stock vehicle moves. It tends to be propelled by forces readily available to those who would deliberately skew and distort and shape the public view. We call this "the manipulative arts." Shorts live and breathe by this.
When I point to the damage already been done, my case rests on the fact that I fail to see who will gain much by trying to drive the price down still further. Stocks have limited space in which to bleed and NGL has been bled off quite substantially, imo. And it was seeing this moments ago that moved me to complete my positions by adding a few more units at $9.95 in order to simplify arithmetic. At this point I think I'm finished taking advantage of the fire-sale pricing of NGL as I now hold:
NGL units.................17,500
Cost basis...............$13.21
My paper loss at this moment amounts to $51,000 with the total position worth $180,000. For the record, this is about what my entire portfolio was worth less than three years ago. Things can change rather quickly when we make major moves, taking advantage of unusual opportunities.
Make your moves, fellow investors. And know that nobody can be more effective than you when it comes to steering your own ship.
Happy fortune-hunting!
AI
