Dividends , The Wheel --Cash secured Puts and Covered Call writting

[bar1080]

He blames everyone but himself for his investing failures:

"Many thanks to you and others benefiting from things others and I have to say.

I've got to admit I'm consumed with fears pertaining to the meltdown I'm expecting tomorrow. As previously mentioned I'm not in financial danger given that my market-exposure versus assets (real money)---all is in order.

In short, I've taken precautions such that no matter what happens in the morning hours, I can't be hurt financially.

However, I know what it is to be on the other side of the fence, having weathered a margin call (house-call) twenty or so years ago. At the time I was embroiled in a difficult divorce action and my then-wife decided to call Ameritrade and allege that I was stealing her money. The court threw that one out and made me the sole proprietor of the accounts in question. However, the brokerage got scared off and shut my accounts down. It was like inheriting a Ferrari lacking any sort of steering mechanism. I pained while watching a $780,000 account wither away into nothing save for $8,000.

The money was lost due to turbulence. Margin debt took more than a third of it immediately

That was a brutal lesson for sure and while I hated every minute of every hour at that time, I knew that I'd somehow come out of it eventually.

I share this awful bit of history now in the hopes of reassuring others that there will be an end to this tunnel filled with fog and burnt dreams. And we do tend to come out of debacles stronger and better equipped to deal with uncertainty.

Although I could wish it weren't so, there are those here who will buy NGL in the morning, blinded by the "Fire Sale " signs all over the place. Cheaper today doesn't always equate to "smart tomorrows." In NGL's case, I'm wondering what it will take to remain a viable company able to continue paying the current 25% yield while facing existential threats such as have never been so alarming.

For the first time in 27 years I'm not holding any oil related stocks. Oddly, I'm feeling so bad for those here who didn't see disaster writing its epitaph on the proverbial walls. This board has always been great for sharing jubilation and honest-to-goodness reflection. Now I ask that we, instead, make room to accommodate those in critical if not dire need for consolation and perhaps a bit of advice as we navigate through some of the worst imaginable difficulties.

Pile on, good people. The storm clouds are about to reveal the mysteries of our worst nightmares. There's going to be much to discuss and I believe that by chipping in and sharing our joys and concerns, we can make a really big difference."