Ever since $AMJ closed to all but institutionals, we have been watching alternatives to the MPL related space that retail could invest in via their IRAs w/o fear of the the UBTI. Enter $LNCO. Until today, we've been sitting on hands, doing homework, and watching for the pending lockup expiry.
But today we picked up some share - about 1/3 of a core position, on the bounce we saw off the prior resistance trendline, defined by the close of 11/1, 11/28 and 11/30. Now we expect (as as buyers, hope) for a gap fill to $36.35 and a test of $36 mark. However, given the April lockup are are playing with tight stops.
Stop losses have been washed and the gap filled down to $36.35, but doing so created a gap at open today as well, which has also now filled. Added the other 2/3rds of a core ~$36. Now that we are over Friday's close, watching for a close above $36.66. Still, might get a bit of a retest over the next few weeks, so may add a trading tranche (sized at the same) on top of our core if we retest and hold the $36 mark.