About to reach for 500 units of NGL at $11.80, I now see it's not going to happen...not right now, anyhow. Backing out the distribution slated for two weeks ahead, a price of $11.41 is more than mildly compelling given the company's strong payment history as well as the extraordinary yield @ 13%+.
So I'm watching with baited breath.
Something many investors are most assuredly looking at is that at this point in time eyes are frowning on energy. This sill change abruptly when they wake up to the fact that nobody makes any money at all without energy availability. It's fashionable right now to pooh-pooh energy. But this will change and the reversing bias will take place with the suddenness of your usual drama leaving investors with that sickening reality characterized by:
"Aw, shit! How'd this happen without my even seeing it develop?"
Well, truth be told, the poop is in the bowl and while many are going to be frantically reaching for that magical silvery handle in the sky, some of us are already planning our Texas barbeque. We know NGL will rise today on this last day before going ex-distribution for the next three months. And we know we're coming into our stronger quarters of the year right now. And there've been too many high paying quarterly distributions in succession to simply dismiss this company. And we all want to score the big one.
I've got $36,540 in gains sitting on the table right now. That's a net gain, mind you---unencumbered and free to spend if I choose. Well, I choose to let it sit there and I've not elected to sell a single unit. And I won't sell a single unit without first broadcasting my intention on this board as I owe my followers that much.
At this moment I'd like to add 500 more units---but only at the right price for it will require more margin money to get it done.
More as we move through this peculiar day that seems to have hungry people walking away from a luscious buffet. Insane, in my opinion.
But it will probably reverse during the day.
