NGL Energy Partners LP (NGL)

[jugs]

We're back up to $12.20 or a nickel beneath the opening. Pretty impressive.

A reminder:

Exactly a week ago last Friday NGL closed at $12.05.

This is so important, I cannot stress it enough. Accumulating units in moments of market-wide weakness should not be construed as anything but smart. Sure, the units price point may close lower than your purchase price (s) earlier today. But the goal is not to beat prices paid today nor is it good to be beating up on yourself. It's about positioning yourself most profitably based almost entirely upon your personally arrived at expectations.


If we close today at $12.05, I'll be ok with that as it indicates I've been able to increase holdings without much suffering. More to the point, my future is materially improved as a result of actions I've taken today.

If we should close under last Friday's close? Lots of things impact the stock market, much not even having anything to do with stocks, let alone with NGL.

Trade wars? Who here thinks such political jabbing will determine NGL's bottom line?

We need to remain focused on things we can understand, connect and put to work as we build our positions. And this is the time to consider taking some profits off the table in other picks we deem not at all as important. That's exactly what I've done today and yesterday...

My $130,000 margin utilization is now reduced, down to less than $97,000. This means that I can apply the difference towards adding NGL if I choose, or doing nothing, for that matter. Obviously if NGL drops to $11, I'll be all over it, certainly for another 1,000 units if not considerably more. Either way things go, at least I'm ready for anything.

And now I'm seeing the unbelievable: NGL is sitting at $12.30 or up a nickel on the day!

It's not going to sit there for long.....something we know by virtue of the day's spread amply in evidence here based solely upon trading action. Those of us who bought today at prices lower than $12.30 may be positioned to brag about money made earned. It's earned pride and value added!

About all I can say at this juncture is that we need to be ready for the unthinkable, regardless of how dumb or stupid it may seem. We don't write the rules, but we sure as hell can take action, right?

And now we're up a whole dime. If you've got 24 units of NGL, that's good for a whole freaking $2.40!!!

Can you believe?