If I recall, the merging process won't become a reality until July at the earliest. So there's at least a month to two months before anything meaningful can happen, as I see it.
When DK first made its move to swallow ALJ whole, DK was weaker than now by a considerable margin. I think that is something of an indicator telling me I don't need to panic over a possibility.
If anything, I could believe that DJ may drop some of its assets into ALDW, thus broadening its overall appeal. Another refinery would be great, depending upon terms.
For now, though, I feel I need to steady my boat until such time as I see reason for concern.
If DK were to make an untoward move affecting us on the retail side, I figure such a move would take at least a half year to clear legal hurdles sure to surface. If DK were to propose doing away with ALDW altogether, there'd have to be a vote by all holders of common units. And for what it's worth, I've got a gain at the moment of around $68,000. So, if a takeover campaign were launched, I don't believe I'd be terribly damaged in the process.
When NTI was swallowed up by WNR last year, I sold off a substantial position without holding onto any units whatsoever. I came out with a sizable gain by unloading early, several dollars ahead for each unit. But looking larger for me as I look back is the fact that I remained in control of my destiny. I absolutely hated the thought that I'd be surrendering my fate to the likes of WNR.
So now, as I continue adding to my ALDW stash, I'm aware that I may have to make some rash moves but I'm not afraid. Therefore I added units today and may do so again tomorrow. There's always at least some time to make our moves before surrender becomes necessary. The trick is in knowing one's mind well in advance as this lessens the associated pain.
One thing I know for sure: We make our dumbest mistakes when we move in synch with fear. Face up to threats before they occur and you'll be your own Captain!
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