Noticed some are buying as these shares are heading downward. That is not always a good investment technique. A lot of fundamental and technical conditions come into focus when stocks begin to take a blood bath, as NTI has done. We've always done better to watch from the sidelines until it puts in a bottom formation. You won't get the absolute bottom, but you'll make fewer mistakes. Give the stock time to form a bottom. Then buy or average down if you own shares.
This stock is so volitile, it could snap back to the low 20's in a few days. You have to be comfortable with the long term value of this MLP. I originally bought at $26 and purchased more at $18.70 2 days ago. Once people realize the incredible long term value of this stock, the price will correct and do so quick. I think anything under $20 is an incredible buy. I think the bottom is being formed, but if you wait until the stock hits $22, your profit potential will have suffered. Better news and $1.20+/share dividend announcement will move this higher.
This is typical fast money manipulation. What has happened in the last 2months that make this company worth 45% less than it was worth 2 months ago? Even at 68 cents per quarter dividend, yield is 14x what you get in a bank account. People tell me I'm supposed to buy low and sell high. I do not subscribe to the greater fool method-buy high and sell even higher!
"What has happened in the last 2months that make this company worth 45% less than it was worth 2 months ago?"
You got things backwards. You should be asking what happened in the last couple of years which made refineries worth so much more than they had been at almost anytime in prior history. It was the last 1-2 years which were the anomoly - this is just getting back to normal. Your comment is equivalent to someone saying in mid 2000, 'what happened to make internet stocks worth 50% less than a few months ago?'. It completely ignores the extreme run-up which preceded it.
If an investment is good then it's better if the price falls. Buy gradually and you won't get hurt too much if you're wrong. In the long run buying down here is better than waiting for it to increase 20% and then jumping aboard.
Sentiment: Strong Buy
Stocks are like a ruler. Don't expect to get "in" at one and "out" at 12. NTI high was 33 and change. I waited 'til after earnings and started to buy at 22.30 [I was happy not to buy at 24.50]. I've averaged down enough and looking forward to a better quarter. The .68 divy is more than fine with me. I have more ammo but my % portfolio allocation says I have enough. Maybe I'll buy more VOD!. Ed