Recapitulation is probably going to define this morning's trading activity. Typically this will translate into a drop of around half of Friday's strong gain or about a half dollar.
I'm seeing a drop of 50 cents as entirely realistic and for that reason just placed an order for 300 units of NGL to execute at $11.00.
It's an all-or-nothing offer---I'm doing it this way to send a clear signal to the MM that this deal goes my way or it's no deal. Period.
If it executes, I'll follow up with a second order.
We will go ex-distribution nearly a month from now. November 8th was the day last year. Ordinarily, management releases guidance a couple of weeks prior to going ex, so we are two to three weeks away from the next distribution declaration. If my offer goes through, I'll view it as costing me $10.61/unit as we're knocking on the door to a 39 cent payout.
One thing that absolutely would spark interest in the investor-concerned community is a PR from the company announcing a pair of insider buys or a beefy acquisition in the water solutions arena announcing a major long-term contract to supply service for a major.
Good luck today! And please don't anybody beat him/her self up if we drop back a lot---it's how this critter operates with players doing everything they can to steer animals into their corrals. Think of it as trying to catch a shadow, knowing full well the blood-&-guts creature will be yours once we've received guidance and passed through ex-distribution day. From that point onward it's a gay dance to the end of the rainbow.
Hmmmmmmmmm! So sweet, huh?
