I really appreciate the discussion today and I am glad that boo boo is on. Always good to have people on who are not long the stock. First, the board can get a bit stale with just longs. Second, the reality is, no stock always goes up/down forever. From time to time I have felt obligated to point out when I felt the technicals were showing a pullback. Sometimes, folks see this as being negative on a stock but I see it as nothing more than factual reporting.
I do not day trade. When I look at technicals, it is over a period of 6+ months. I use RSI,Williams% as well as Fib and compare them to stock specific historical performance against those data points as well as support and resistance levels. I say all of this because I am seeing that we are overbought and could pullback and I expect us to. One thing we have going for us is, for the past week, we have big end of the day buying (settling). This has pushed us where we are today. Funds pushing us up at the end of the day as they settle the days trading has been great but at some point, our volume will drop due to lack of news. We are in that dead time between earnings. We have held up exceptionally well compared to previous quarters, where we have consistently fallen during the period between earnings.
I am not shorting but will sell some more covered calls if I can get the right price. I want to be clear, I am not negative on NGL in anyway. I point this out because sometimes, people get snippy when I post this stuff. I will also say, dont trade on anything I post, I am just putting out my thoughts and ideas.
