Thursday, December 07, 2017 1:37:08 PM
Obtained another 500 units of ETP at $16.30. I paid more for these than for previous buys but there are times when I've got to think in terms of my somewhat reasonable expectations and contemplate the length of time it might require to realize those expectations. In the case of ETP I'm thinking we're likely to begin a convincing leg upward sometime in the latter part of this month or in January, 2018.
My current position now stands at 2,000 units with a cost basis of $16.30. I'm in the profit zone but just by a hair's breadth so I've got nothing to shout about as $90 won't get it done for me.
Still, I'm pleased as I used margin to get this deed done at an interest rate of less than 6% while the stock is paying me 14% for waiting, leaving a differential of 8% to the gain side. It doesn't get better than that. Plus, my "parked money" (albeit borrowed) has me set up perfectly to prosper with very little risk if any at all while opportunity for increasing appreciation is the golden ring.
C'mon, horsey!
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