NGL Energy Partners LP (NGL)

[pete807]

Much of the recent activity involves pattern trading instead of DD based speculation, imo. That is why I am not surprised to see the lunchtime reversal from the market... and up tick. No big bets either way at the moment. Less volatile here into earnings, imo.

You are correct to note there appear to be forces attempting to get in cheaper than we long holders are willing to give in to. It is a wait and see period. During this time some experienced money shorts the trailing numbers without betting on the turnaround in earnings coming to fruition. There is short term scalping of a few hundred fearful units every day, and it makes the market work. Shorts take the crumbs and stay safely on the sidelines. Average cover time is short also.

We longs risk for big reward based on DD,... company messages on balance sheet improvements and implications by insider buys. It is reassuring to see their skin in the game.

I watch the L2 a lot and all day I see it thin on the ask side to $15.90. MM's fill in the gaps in the book with 100 unit steps.
GLTA!