I got $11.34 on 1,200 units of ALDW (selling) so I'm somewhere in the middle, I guess. This is where a low cost basis spells relief big time.
Yes, there are those determined to manipulate the market. Obviously a market maker was unwilling to let loose ends come back in the morning and undermine his profit opportunities.
Given EXXON's shutting down its Houston facilities, I wouldn't doubt but that ALDW will rise tomorrow, and possibly still another day or two or three, depending upon how the media addresses the matter. But I'm hopeful that our units will continue rising as people come to understand that the profit margin potential known as the crack spread in the refining arena is rising and will continue doing so. Last night I realized the crack spread will have to rise accordingly. After all is said and done, there's plenty of crude supply, so far, at least. But now the refineries are more critical than ever and their services are going to be strained. This will result in shortages on the supply side. It invites a potential for terrible market manipulation but warning about that is like reminding people to continue breathing.
This is why I caution people to not over-sell because they want to take profits off the table. Better to exercise a controlled manner so as to enjoy some gains while strengthening other parts of your portfolios.
Thus I leveraged things today, dropping some margin debt while adding a couple of thousand units of NGL and sold off a couple of thousand ALDW.
It was a hectic day but several portfolio components are nicely improved as a result of having taken action as illustrated above.
I find this extremely exhilarating! It feels a bit like running a sub-six minute mile again or lasting the better part of a night. lol
Age says little about one's capacity to be strong when it comes to market negotiations. If anything, experience teaches us some extremely important things enabling us to occasionally be overwhelmed by our own prowess. It sure beats failure!
Onward towards tomorrow---and I expect ALDW will rise still further, given that most people will---by then---have learned that EXXON has, indeed, shut down the Houston area facilities situated in Beaumont, Texas.
The important thing here as that you and I know it. We know it. And if you need to raise a few bucks, you can sell some of your ALDW holdings, take control of some of your gains and take care of things with your gains and seed capital. You'll have a couple of months+ to restore your current positions and you can rest assured your fellow members will keep you abreast of ALDW developments and pricing information.
Things sure look pretty good for us right now, imo.
Happy hunting!
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