I got to swept up in market work I am not sure I mentioned it but I added 500 units when the PR came out. And a minute or two later I knew I'd been an idiot to hold back and I managed to pick up another 500 units. That brings me to 9,000 units with a cost basis of $10.57. Still underwater somewhat but nowhere as much as it had been just prior to the announced asset sale. Over the past 2-3 weeks I've reallocated cash and built NGL positions from 4,300 units to 9,000 units as of today. At present I remain underwater by $10,220. this should easily change complexion in the near future. The $5,760 payday will wipe out more than half of the paper loss.
Your brokerage should be posting your cost basis information daily. At Ameritrade it is shown as soon as I come to the balances and positions page. I never have to compute it as you're mentioning. And, mind you, I have NGL in each of four accounts, some representing units for which I paid $16.35! boy, now there's some meaningful history! It's taken a lot of consecutive buys to bring that CB down to $10.57. It doesn't really mean much as it is highly unlikely I'll be divesting myself of units any time this year.
On the subject of CVRR? It would be nuts to buy, imo. You see how quickly it dropped from above $20 to $16.50 where it is now? I could see this thing falling back to something in the $14-$15 range, especially if the quarterly distribution is as paltry as I'm thinking. Read posts from Pete at the CVRR board, he calls it the way it is and he knows his stuff as well as anyone could.
Ditto with ALDW---I sold 900 units the other day mostly at $19.36 and, boy! Did I ever dodge the bullet!!! The next day it dropped $2. I don't sit around counting my dollars but I don't like thinking of myself as incapable of defending my dream of increasing wealth. But I do have to push myself to act, sometimes.
And NTI is another---I got out before the rush for the exits and got mostly high $25-26.50 for my stash. I unloaded the last 200 Tuesday to take advantage of crazily low NGL units. Glad I did!
So much is going on with our investments. MDR---if you're not an investor, at least visit the board as there's some good stuff posted. And SDLP is another some of us are building.
These are incredible opportunities---not only to capitalize on the market downturn but also because of dividend capture opportunities.
Recent NGL News
- NGL Energy Partners LP Announces Quarterly Cash Distribution for the Class B, Class C, and Class D Preferred Units • Business Wire • 06/21/2024 10:25:00 AM
- DocuSign Stocks Drop 8.5%, Braze Surges 15% as 1Q Results Beat Expectations, and More in Earning • IH Market News • 06/07/2024 12:09:36 PM
- NGL Energy Partners LP Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results; Guidance for Fiscal 2025 • Business Wire • 06/06/2024 08:33:00 PM
- NGL Energy Partners LP Announces $50 Million LP Common Unit Repurchase Program • Business Wire • 06/06/2024 08:20:00 PM
- US Index Futures Mixed; Oil Prices Rise • IH Market News • 06/06/2024 11:29:43 AM
- NGL Energy Partners Announces Earnings Call • Business Wire • 05/16/2024 08:33:00 PM
- NGL Energy Partners LP Announces the Payment of All Outstanding Distribution Arrearages for Class B, Class C and Class D Preferred Units as of Payment Date April 25, 2024 • Business Wire • 04/09/2024 09:15:00 PM
- NGL Energy Partners LP Announces Sale of the New Mexico Ranches • Business Wire • 04/05/2024 04:46:00 PM
- NGL Energy Partners LP Announces Cash Distribution of 55.4% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units • Business Wire • 04/04/2024 10:26:00 PM
- NGL Energy Partners LP Announces Status of Investor Tax Packages • Business Wire • 03/04/2024 09:45:00 PM
- NGL Energy Partners LP Announces Third Quarter Fiscal 2024 Financial Results • Business Wire • 02/08/2024 09:33:00 PM
- NGL Energy Partners LP Announces Cash Distribution of 50% of Outstanding Arrearages for Class B, Class C and Class D Preferred Units • Business Wire • 02/06/2024 10:33:00 PM
- NGL Closes $2.9 Billion Debt Refinancing Transactions and Amends and Extends Asset-Based Revolving Credit Facility • Business Wire • 02/02/2024 05:55:00 PM
- NGL Energy Partners Announces Earnings Call • Business Wire • 01/30/2024 09:45:00 PM
- NGL Energy Partners LP Announces Pricing of $2.2 Billion Offering of Senior Secured Notes • Business Wire • 01/25/2024 09:58:00 PM
- NGL Energy Partners LP Announces $2.1 Billion Offering of Senior Secured Notes • Business Wire • 01/23/2024 09:35:00 PM
- NGL Energy Partners LP Announces LEX II Large Diameter Pipeline Supported by New MVC and Extension of Acreage Dedication • Business Wire • 01/22/2024 11:30:00 AM
- NGL Energy Partners LP Announces $700 Million Senior Secured Term Loan Facility and Provides Financial Update • Business Wire • 01/17/2024 10:48:00 PM
- NGL Energy Partners LP Announces 2023 Open Season for Grand Mesa Pipeline Starting December 6, 2023 • Business Wire • 12/06/2023 11:30:00 AM
- NGL Energy Partners LP Announces Second Quarter Fiscal 2024 Financial Results • Business Wire • 11/09/2023 09:23:00 PM
- NGL Energy Partners Announces Earnings Call • Business Wire • 10/20/2023 10:30:00 AM
- NGL Energy Partners LP Announces First Quarter Fiscal 2024 Financial Results • Business Wire • 08/09/2023 08:39:00 PM
- NGL Energy Partners LP Announces Availability of its 2022 Schedule K-3s • Business Wire • 08/01/2023 10:30:00 AM
- NGL Energy Partners Announces Earnings Call • Business Wire • 07/19/2023 10:30:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM