Went for 200 more at $11.15. Got the fill.
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So now I wait and watch to see if my GTC orders for $10.90. $10.65 & $10.45 fill. I'm doubting it but I've been wrong before so I'm ready.
Currently I hold 47,000 units of NGL with a cost basis of $10.19. The table gain stands at just shy of $44,000.
It should be abundantly clear I'm in this for the kill. No mercy, no retreat allowed.
Margin is absolutely essential for me when jumping on expected unexpected opportunities. We knew this could happen---and it's not anything to fear as it's part of how things work. I'm presently using $146,000 in margin utilization and have dry powder sufficient to cover a house call should the country's banking system eliminate all credit availability. In other words, I've got the cash to unwind my use of margin. Should the low-ball orders mentioned above chance filling, I will sell off other equities so as to preserve balance between powder and debt.
Wells Fargo has never struck me as having superior knowledge or even the inclination to possess intimate knowledge of stocks they cover. I'm of the opinion that we, here on this board, know more than the Investor Relations crowd at Wells or Bank of America know, having dissected and thrashed and threshed our ideas about--daily--for years. Analysts work from a prescribed set of metrics. Theirs is not to suggest or even ponder in great depth as do we. Rather, it is to come up with more or less indisputable evidence supporting their stance with regard to preserving clientele lists. Ultimately it's not about honor but preserving their lifeline clientele book.
Such evidence in their minds may not qualify in ours.
I'm staying the course and sincerely hope all others here do as you believe serves your best interests.
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