NGL Energy Partners LP (NGL)

[jugs]

Watch30---I'm in your camp on the buyback! I think you've nailed it.

As for where we're heading today? I've added up a few items and wonder how other folks here will agree or disagree?

Things I'm seeing are:



1.Friday is the Day of Reconciliation


2. We're seeing balance sheet strengthening due to the So. Pecos completion


3. Early redemption of note-related debt instruments


4. Sudden large & UNEXPLAINED DROP in unit price
PLUS enormous trading volume in the final ten minutes or so


5. Fantastic quarterly results released earlier this month.



Adding all this up, I think an upwards bounce is in store for us today.

I'm ready, having played with the dip resulting in picking up 8,000 units at an average of $13.217. I want to unwind these as they are on margin and not secured by my own cash cushion.

Back to watch30's pointing to late trading volume as NGL's determination to proceed with the buyback--- I think he's nailed it! And if so, then it speaks to management's further tightening things via the contraction of units issued and outstanding. Thus I'm speculating here but if so, then NGL is really firing on all cylinders and this joyful ride continues.

Whutcha think?