First thing on my mind this morning was to look at opening bids of DK shares on this, the comp[any's ex-dividend day. Not getting a meaningful clue via Level ll at 40 minutes before the opening bell.
A drop in the amount of the declared dividend of twenty cents is mandated by the SEC as we know. What I'm wanting to see is whether or not DK continues its meteoric rise of late. If the rise continues, I'll continue to hold my position, of course. However, should it demonstrate weakness via a pullback equal to or exceeding the 20 cents, then I'll know that many new suitors climbed on board for the paltry handout.
My sense is that Delek will continue its rise. I'm thinking $42-$43 isn't very far off. I'll stick around for that and resist the temptation to sell a few hundred more shares while remaining steadfast to my rule of 50% retention when wishing to cash out of a position.
It'd be great to see input from others here. Everybody has opinions on all things and situations wrought by them. Many of us were formerly holding positions in ALDW which, alas, has been swallowed. Worse, we've been made victims of DK's outrageous narcissistic behavior as expressed by the company's refusal to declare the final two quarters of ALDW-originated distributions. Compounding my assertion that this is and has been a planned exercise in self-aggrandizement on DK's part is that company hasn't even issued a statement declaring that distributions have been discontinued! I find that absurd, to say the least, for it incriminates the company.
Something I rarely do, if ever, is to close this with...
Statements above are expressions of my opinions only.
