That's a great price, considering company moves in the very recent past plus the highly prospective future to be realized by large balance sheet improvements, acquisitions, the settling of a legal dispute with the EPA dating back to an asset acquired in 2013...and insider buys plus we dare not overlook the removal of weather-related concerns thanks to having sold the retail propane division to focus more on water solutions and the logistics side of this fine company.
We don't know the extent of your NGL position nor the cost basis but my sense is that you're heading towards good numbers. We all hope so, I'm sure!
I believe I've now closed out my campaign to acquire a larger position in NGL. Did a number of buys this morning involving margin as well as selling portions of other picks. What I'm doing is weighing the pros & cons based on vacillating parameters. Underlying all is a stark reality: I refuse to go through life owing money.
At this point in time I've exceeded my dry powder, using margin as an offset for the powder stash (in a checking account) plus $36,000 overage. What this boils down to is I may get the urge to sell 2,000 NGL units in a month or so when I'm out from under the wrath of the wash-rule 30-day requirement. I'll be ahead $780 (distribution $$) for my trouble plus however much units will have climbed by that time---following ex-distribution day, of course. I pay just 5.4% in margin interest per year so distributions exceed margin interest by more than 2.5 times meaning a lot of money can be made through leveraging in this way.
So, then---I now hold 52,000 units of NGL with a cost basis of almost $10.29. Never in my life would I ever have thought I'd be investing like this, frankly. Yet I know it's paying off---I'm seeing a gain of nearly $50,000 so something is going right!
And I am definitely out of cash for now so I'll be living with my current position for the indefinite future with no room for expanding holdings as doing so would require that I abandon my personal financial boundaries. I won't do that as it would border on irresponsibility.
I do hope others here are taking advantage of things. srains has consistently pointed out the great opportunity we've been handed with NGL pricing at around $11. It is extraordinary to us but we are of the relative few who know what is actually going on in this company as it redefines itself.
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