Someone and someones are buying NMM. All I did was institute a "DRIP". Silly me. If NMM didn't go up during the divvy run how could one predict a 39% gain since its low? I got a few shares out of it but the increase in pps leading to the paydate reduced my DRIPed ammount of shares measurably. Good Luck. FOXY
Yes, I did miss the buying opportunity when NMM was oversold, but then again, there were many many other stocks that suffered an oversold condition offering great buys (AGNC, HLM-p), but in my humility was not able to state, "This is the bottom; I declare it; buy, buy, buy!"
I was surprised at how strong NMM has been the last few days. The sector's weakness still concerns me which is why I am not willing to chase the stock price, but am willing to buy should another opportunity present itself.
(Lurking in the background is the European debt problem whose resolution is not so certain. Should the "PIIGS" financial problems present too big of a headache for the French and German financial systems, we should see the US financial market reflect their problems with another steep selloff.)
Dividend pay date on 8/11/11. This sudden rise is going to kill me on the "drip". I won't mind if NMM continues to rise after the pay date, but unfortunately I presume that this is a catalyst for the rise and that we will level off if not drop again shortly after 8/11. There is probably alot of short covering so the weasels won't have to pay the divvy and the leeches will return to feed afterwards. I hope I am wrong. I think Nmm is in way "oversold" territory. Good Luck Longs! FOXY.