I'm not doubling down, but I nibbled at $23.50 and $23.00, as those are below my last positions (I bought and sold some when it did the real dive). If it keeps going down, I'll keep firing, just a tenth at a time, gives you room to catch it lower. This is a case where you should catch the falling knife.
I started buying yesterday at $24, since I had sold what I bought the holiday week and was down to zero, and like you have bought more today at $23.50 and then at $23. If it keeps going down, I will keep buying. I knew investors would freak out when they saw the 2nd quarter report, which was easy to predict given that other energy companies were reporting continued line pressures and even lower NGL prices than q1. Of course I had no idea the Barrons would write a third article bashing Linn. That is truly astounding, and has helped push the price lower. Ruellia
If LINE were to bottom at $18 (Barron's number) and stay there forever and Ruby were to decide she was no longer interested in distributions (completely contrary to her stated views) and she were to sell it at the bottom (which would never happen given how she invests) she would have something like a 22% loss. If it stayed at $18 forever (not going to happen) and cut down to a $2.50 annual distribution, she would be back to even in 2 years. Which is to say, LINE is a good investment even at very bearish and unlikely assumptions. Ruellia