KON?
R U thinking "KONG?"
My wife might not approve. lol However, I do own a pet donkey. lololol And I've taught him to smile! He raises his upper lip, lowers the bottom and offers the greatest smile. Crazy but fun. And he says I'm the asshole.lol
I sold off a bunch of NGL today, six thousand on top of 1,500 yesterday.
The overall market has me slightly itchy. Usually carrying around $200K in margin utilization, I've now erased all of it and actually have around $4,000 in excess cash. It's been years since I last saw this.
As I survey things happening in energy, trade imbalances, the U. S. dollar gaining strength and just a tad of the political garbage in such great abundance---and impeachment noise doing its best to accelerate the positioning of fearsomeness (Thanks, Festus!) in us mere mortals---I'm growing increasingly aware of the importance of being in mark-to-market mode.
That means there's zero allowance for me in terms of margin utilization, at least for now.
If the downward spiral abates, I'll not hesitate to repurchase my sold units of NGL. I'm a master at rebuying. I guess that makes me a master rebuy-abater, huh?
It's truly rare that I'll feel concerned. I'm a pay-as-you-go guy and my issue right now is protecting my YTD gains. Portfolio erosion is part of the equation at all times but I know that debt is the one thing that can prevent me from trading my way out of difficulty as I attempt to rebuild the trail back up. It takes a bunch of free capital to make daring moves as you and others here know as well as do I.
So I'm gearing up to attach to the reversal probably already in the wind.
Good to see you here!
