Very smart of you! I'm also wanting at least another thousand units of NGL but haven't been sure of the smart price. I think yours may be the right one...need to sleep on it and watch what happens for a few days. If the market retreats this week, I'd rethink my offering price, hoping to lower it. But at the moment I think you've nailed it.
For what it's worth to you and others following our doings, let me mention that I added 300 EPD earlier today. I got caught up in the morning euphoria and paid $25.10. Not a lot off the mark. However, this is the logic:
Why let cash sit idly when we've got at least a month before it's NGL crunch time with guidance coming out a little over a month out from here. So I'm thinking, why not grab a distribution from an extremely safe vehicle while waiting for NGL to show weakness?
The logic is good, the premise may not be so smart as almost anything could force NGL to catapult higher. We've seen it twice over the past month so it could certainly happen yet again. This is a reason to be margin enabled.
There's a lot of static in the air at present and it makes things difficult to interpret. So we pursue in the hunt.
Best of luck to you!
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