This swoon is disturbing to us all, I'm certain. It should be!
Long a stalwart defender of the company, I'm troubled due to the overly large drop. Taking no action, for me, would bring to mind that age old comment often lodged about "marrying a stock." I love my wife, not NGL.
While the stock had been showing weakness of late, I added units without reservation. The past few days, however, I'm sensing conviction behind the swoon. So it is that I've been going with the flow, selling off some NGL and using the cash to help build a few other pick's positions.
The bottom line for me:
I don't complain about stock pick gyrations as I know it's part of a marketeer's life and my complaints won't mean anything other than point to my own failure to take advantage of other more deserving opportunities.
When I lost my vision twenty years ago (now fully restored), I was desperate to earn my keep as I wasn't old enough to receive Social Security and Medicare. I developed a "code," if you will...a system by which I protected stock-based income production at any cost. It was a move built of desperation.
Most, if not all years, I outperformed the income production side by trading in, out and within non-income oriented holds. And now, with NGL looking and smelling like a shaggy dog in a rainstorm and no invitations to come in from the wet cold---I've been repositioning.
Oh, I've still got a strong position here but I'm not married to NGL and I refuse to be my own fool, unable to shift gears as the market demands.
It is my hope that others here may reconsider their own sets of boundaries as I've just divulged about my approach to the market.
Comments are always welcome, of course!
