isn't this kind of a difficult strategy with the .241 distribution hitting monthly? you got a 1.2% drop but you're barely making money on that as you missed an ex-date and paid some taxes on cap gains. Plus you have 2 risks for a significant pop 1) distribution increase announce 2) good qtrly report with permian and berry deal booked - downside surprises seem unlikely (except bad production due to weather)
I sold for 20% of my Lnco at an average of 32.50 and bought it back at an average around 31.40 and captured the divi on part of that. Lnco is now below the bottom Bollinger band. Should have waited until today to do all the buying, it`s hard to nail it right on the nose.
I own LNCO in my IRA and LINE in my regular account, I sold out of LINE at $33 on Wednesday at a profit and will buy LNCO shares back into the account when the market settles down, hopefully under $32 but no more than I sold it LINE for. My main objective was to not deal with the K-1 again, and hopefully get the 5% LNCO premium like in 2013. After the price surge yesterday I thought I got caught short on the funds, but it looks much better today.
Sentiment: Strong Buy
Lordofdoggtown, I've been a buyer of LINE since '07 and LNCO since its inception. I enjoy reading the longs and shorts, idiots and smarter ones on this board. I appreciate your input as you are someone I find level-headed and unemotional (probably because of your charting background). Thanks for all of your input. By the way, I still think LNCO will return to their usual premium over LINE in the near term (that has nothing to do with you, just thought i'd add it to this post). Thanks again.
I also sold a little, @ average price 32.40. I still have most of my position, and am playing with a few hundred shares simply because stocks rarely go straight up without dips. If LNCO drops a point or so in the near future, I will buy back those shares. If it doesn't, that's okay too (because I continue to have a strong position and will be delighted to see it get stronger). It's just a small hedge...
Ops, why would that signal anything but the continued expectation that it would stay in a channel-up-trend bouncing between the upper & lower trend lines?
Just your guess?
"I guess that signals a down turn?"
Well, that explains it.
So, here is what I think it will do...based on that LINE finviz chart....
Head back toward $35-$36.
after some time & some news/catalyst(s) like maybe another C-corp acquisition, or some big news about Mississipi lime or Oklahoma Hogshooter wells results or something else....maybe head back to $42.52??