Premarket---I've now made two purchases of NGL as follow:
200 units @ $22.60
300 units at $22.65
The 300 units are more than the previous order but I was concerned that this window of opportunity would slip by without my having availed myself of a highly unusual opportunity such as has just unfolded since last night.
With about twenty minutes to go before the opening bell I'm sitting here and watching to see if...
1. Mr. Market overreacts to the uh-oh syndrome and brings units down to well beneath my add prices this morning. I'm ready to add another 500 units or greater if low pricing prevails. It well may!
2. When regular hours trading commences I will toss in an offer to buy 300 units at up to a half dollar lower than the opening numbers indicate as the likely floor (support). These orders cannot be overly larger as big orders probably won't make it through the revolving doors unnoticed. The idea is to sneak your way around the bushes before you pick the choicest berries.
Let's all pitch in today and see if we can't help one another think things through, together. This is where a board such as we have becomes invaluable.
Looking forward!!!
And I should have mentioned:
I fully expect a follow-on message from management in coming days regarding this massive sale of new units, its dilutive impact, and how it might alter the payout scheme going forward, if at all. They've always been responsive and I expect no less this time around. I know this much---NGL has been a spectacular investment for all of us and I have a pretty good feeling that today marks the start of a whole new beginning. And this is why I'm adding units---ON MARGIN!
I'm not suggesting anybody else do it, mind you---I can afford the risks and after all is said and done, these units are obviously fully collateralized. I'm not at all worried that management is putting unit holders at risk. Rather, I think they are preparing for some bigger, more stunning moves such as the most recent involving the acquisition of Murphy Oil's bankruptcy-riddled assets.
This is a fantastic company and a great message board! Let's enjoy this day!
