Cat,
You are one very astute trader. Despite that, you fell victim to a couple of items nobody could have seen, even in this deplorable market environment.
This morning I was shocked to see the $4 drop. Poking around I saw the 8 cent distribution coming up. We knew things would not be good but I don't believe anybody could have foreseen such a paltry distribution. Worse, though, is that the market seems to have priced in this result rendering the entire MLP zone diseased.. A $4 drop is beyond my understanding.
I wish you well in all your trading and I'm betting, along with you, that $16 will prove to have been a smart buy point regardless of road hazards we see today. I remember having paid $13 for CVRR and selling for above $19. Nobody could have known the outcome.
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