We hit an intraday low of $9.00, closing at $9.10.
As most others would have done today, I might have coughed up the extra dime to pick up the 115 units of NGL I sought to add today. But I held fast to my plan and didn't adjust my order.
This was the case because today is just one day of 90 separating Q2 from Q3. If we dropped significantly today, why should we expect anything different tomorrow or next week or next month and even beyond?
Today was one day out of many. Sure, there was a lamentable event unfolding in Barcelona. But how can NGL's significant price drop today be an expression of lives lost and terrorism abounding in a country with which we don't even conduct business?
My student came back from a trip to Spain just last week having spent a month in Barcelona. It's frightening to consider how his young life might have been snuffed out just like that...meaninglessly. But we investors have to keep things real.
So my order stands. And while I doubt it will fill tomorrow if we rebound off of today's lows, there will be other days. These are the dog days of Summer. Strange things happen. Gloom can and will set in here and there.
It is for each of us to comb the depths of our resolve and inventory ourselves. I refer to it as "180-ing." It insists that we step away from ourselves in search for clues to self improvement. I find that taking a position directly to the reverse of my usual ushers in a tidal wave of possibilities I'd never have discovered otherwise. When we do the same thing over and over again we move in a 360 degree pattern. It brings us back to where we were without forward progress.
So, my order for units remains because I need to challenge my own resolve. If I'm right on this, I will spend less to get more and above all---I'll be renewing my faith in my own level of courage.
Happy hunting!
