You've said it perfectly! And this is why the BOD would receive authorization to spend so much money on units---because it's so obvious units are way oversold and terribly undervalued. This is the most opportune time to strengthen holdings in NGL.
For what it's worth, I'd have increased my NGL holdings as I've done even if I'd heard they were going to suspend the next couple of distributions. In a note to a good friend and ally in NGL:
You know something? Even with 20,500 NGL units in tow, I wouldn't flinch in the least were they to announce withholding a distribution or two. I'd have been a buyer all week AT THESE PRICES even if I somehow knew there'd be no forthcoming distribution. NGL is worth far, far more than certain individuals might like to admit to---especially if they're shorting the stock.
Fine! Go for it! And I'll continue to reach for more cheapies because I know how this system works and I refuse to be manipulated by those teaming up to wreak destruction at my expense.
Happy hunting!
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