Enterprise Products Partners LP (EPD)

[chessmaster315]

GTC limit orders, IMHO are risky, in several possible senarios:

1. A black swan. If something really went south such as oh, just a guess, a crushing lawsuit. Then you would pick up "cheap" shares, that may not be that cheap after all. A dividend cut for EPD would be a black swan, since they have raised the dividend, about 24 years. So investors would not be happy with a dividend haircut.

2. The exact opposite, such as a M and A. What if, oh, I dont know, someone offers to buy all the shares at $50, and the price shoots up very very quickly..except you miss out because you sell yours with a GTC limit order, based on you "not knowing" about the M and A. Its almost like limiting your upside with a covered call.

3. What if you forget about your GTC order? That is not impossible, and a GTC order of $28 may be obsolete in several years, or even sooner.

4. In addition to the above, EPD "making the dividend aristocrat list" could be very very good for current shareholders, spiking the price, and you may, again, miss out on some of the gains.

For reasons above, I dont use GTC orders.
I noticed, when I went to carmax to sell my car, they make a written offer...its good for about 7 days. Why? Because market conditions change and next month the car may well be worth more or less than today.