NGL Energy Partners LP (NGL)

[jugs]

NGL is performing much as we've been expecting. That said,.........

I just placed a "feeler" (testing the waters) for just over 100 units of NGL set to trigger at $8.90. If you check out short interest, you'll find Ameritrade posts no indication whatsoever regarding short interest here. It probably means shorts are no longer convinced there's short term money to be made here. So they move on to other opportunity. I do see, however, that institutional money is still firmly in place with greater than 63% interest.

Ordinarily I'll buy in larger quantities but I don't think I'd have much luck going for a bigger purchase. So if this order fills any time soon (it's a GTC order), I'll happily follow it down for still cheaper units.

I also have just $3,000 or so to work with. When ALDW cash comes in, things will change. Meanwhile, my eye is largely on NGL as the opportunity to take advantage of ALDW is built upon a timeline extending further out.

These in-between moments bounded by company guidance covering the nest distribution and earnings report? These are the fuel of rallies. These are the dog days of Summer when the true investor will want to check out every pile in the street and fully assess our options.

Happy hunting, everybody!