NGL Energy Partners LP (NGL)

[jugs]

Absolutely! And $8.70, too. In fact, I tend to buy heavily every time NGL endures a swoon of notable size.

Point of info is called for here---

I ordinarily maintain a cash account (bank) equal to the amount I borrow via margin.Thus I never endure a "house call." At this moment margin comes to $169K. I've got $100K in the allied checking account (ACH enabled). Thus I'm operating on a deficit basis, something I don't like. However, simple math tells all---I'm earning 12% while paying less than the margin interest rate which I renegotiated with Ameritrade. So I'm OK with the over-borrowing although I hope to soon see NGL trading at $16 or greater at which time I'll unwind the overage bringing bank and margin back into balance.


I go into all this as I add heavily (for me) when swoons dictate. Several thousands of units become the norm when buying. And even now---if we dropped back to $12.76 or so, I'd add a thousand without hesitation, believing as I do that I'd be inviting a fabulous trade opportunity.

Good question on your part and I'm glad you bring it up. Were it not for lunging headfirst into unusual buying opportunities, my gains would be very muted, indeed.

By the way, today is the Day of Reconciliation. Fridays tend to rebalance things and today appears to be following suit. I think we're heading a bit higher yet but there's more than three hours to go and nobody knows what's in store.

Good fortune to you!