NGL may hand me my desired execution for 100 units at $11.50. It's looking good from here.
If that goes through, then next is a hundred at $11.25. After that comes $11.00 but I'm upping the ante to a bid for 200 units.
If we hit $11, I'll probably try to pick up a few more hundreds at or around the $11 price point.
Don't misunderstand---I'm not at all happy with the collapse in valuation. However, ours is hardly the only energy-based MLP out there suffering. Take a look at AMZA---an ETF comprised of energy MLPs. It has suffered dramatically as had to be the case, given that its constituent parts include MLPs not unlike NGL.
It boils down to something really simple:
We of the real world don't accomplish much without energy. We need it, we want it, we'll pay for it. And while gas may be cheap right now, everyone knows that nothing ever stays the same.
These numbers I've thrown in our faces just above are a blessing, and nothing less than that. At the same time, it takes some guts to load up when the feast begins. It is beginning right now and any committed energy buff needs to respond to the call of the moment for it is a most fortuitous call.
My sixth sense motivated me to check and sure enough!---the first order (see above has filled at $11.50.
I'm somewhere between happy to have seen the opportunity but it's a bittersweet moment as it demonstrates indisputably that things are out of kilter. Still, those 100 u's of NGL at $11.50 couldn't possibly hurt my cost basis and there's where the killing lies. After that it's the claim on future distributions.
Good hunting, everybody!
