This board's reaction is certainly understandable.
Without question, UNIT is taking a hit. We all knew it would be so on Friday when after hours trading appeared to be crippling.
This morning was more of the same, of course. However, my take is apparently a bit different than most of what I'm seeing from others. And it's far too early for me to determine whether I'm an ass or smart enough to read the smoke signals. So my read:
1. Legal procedures yet to happen are in the works but remain undecided.
2. Rulings will be handed down but remain on hold for the moment.
3. The investment community runs from uncertainty for absolutes are always the end goal. Unfortunately, as with one's cutting off his nose to spite his face, we investors very often run with the herd, tuning out on our individual and often unique perspectives.
4. Thus it is that i9nvestors typically over-react when there's blood in the streets. Not to suggest there's anything wrong in that, only that each of us investors is responsible for taking action with or without community agreement. Some will dare to meet the oddsmakers head-on while others proceed differently.
I'm old---in perfect health but at 78 my birth certificate reminds me I'm only a decade or two from the end of the line. With no debt and a wonderful life, I'm more inclined to embrace risks others might not find acceptable.
Thus it is that I added 200 UNIT this morning at $12.03. Not a lot but I had to know if I've got the b's to be true to myself or just yield to being one of the herd. And now I'm going to look at the current price:
OK, I'm ahead a little bit. More than the few bucks, however, is that nobody knows where this thing is going or how it will get there. And we won't even agree on things yet to happen. But one thing is definite in my world:
Because nobody knows eventual outcomes, I figure this stock has plenty of good things going for it and I can't get into the "Damn it!" crowd. I'm betting units bought right now will prove profitable. Sure, it'll be rocky for the time being, but that's not a death sentence by any means.
Calm and patience will rule more often than not. Counting dollars lost may work for some but I prefer counting dollars earned.
Good fortune, everybody!
