Why NGL pulled back.......
I have no idea and on top of that, I do not really care. Here is what I know, nothing about NGL has changed since last week when we were up to $12.25 and everyone was happy. For the last 3 qtrs, the price was had small runs up, and hard slides down. Traders take profit when they can. It crossed my mind to take profits on the 2K shares I bought recently but I did not because I sold the calls against them and will either wait for them to get called away or expire worthless, that was my plan and I am sticking to it.
If at any point we slide to $11.25, I will buy a bit more this close to earnings/div. Each person invests as they see fit and in a way that works best for them. I never own more stock than I am comfortable with. Comfortable with large swings are part of it. Traders are experts at driving the emotions of greed and fear. They have to in order to make money and if they are making it, those in fear are losing money. Traders will affect the price over a short period of time but they cannot long term.
When the market lost 1400 points over a 2 or 3 day period, NGL's true colors showed. It was a safe harbor for investors and it will stay that way. We have a big, fat, safe div and in times of trouble, that is worth a bunch.
Nothing in NGL management focus or fundamentals have changes in the last week. As far as I am concerned, management has NGL headed in the right direction. It may be slow, but it is getting there. I firmly believe that some folks will look back a year from now and wish they had purchased at these levels. Others of us will look back a year from now and be glad that we held onto our convictions and bought as much as we could.
Have a good weekend
