Why aren't they turning? All the small refiners I have seen have gotten wacked on their Q3 results and it is pretty likely the same will happen to NTI, so it is surprising that this stock continues to inch higher. Why not wait to buy? Not sure, but to each, their own. Shall see if holding off was the right move or not in a week.
Might as well wait to take a position until after the ex div date (11/20) to pick up some "cheap" shares. I'm wondering why you didn't buy when NTI was $18.**.
NTI is in kind of a unique position to secure and process low cost crude from Canada and Bakken. They also enjoy low cost delivery through their 17% owned pipeline which someone yesterday said delivers crude $4. cheaper per barrel than trains.
Everyone expects bad 3rd qtr. earnings but I'm thinking there may be an upside surprise and the distribution will be significantly higher than 30 cents, as some expect. I also see decent results in the 4th quarter and 1st qtr. 2014. Call me an optimist if you like but that's what my gut is telling me.
I picked up 50 shares during the fire sale :)
Actually, during the Sept. stock drop, I was able to buy a total of 243 shares with an average of 19.24
What ever happened to the posters who were busting on us for averaging down? I haven't heard a peep from them :)