I'd suggest it is fair to say "No"...Not much logical thinking was considered by cutting the distribution COMPLETELY ! It forced income folks to go elsewhere and with the decimation that followed, a cascade of selling with the perfect storm occurring at this moment..Margin and institutions not capable of holding shares under $5/sh..
do not doubt at this point..I think it is a mistake to shut off the distribution completely...That closed off an entire group of investors ...With coverage exceeding what was predicted per RJ, I think maybe having it cut in HALF would have been the smart move..Strike a balance and KEEP the income guys..Maybe the board tells management no on cutting it completely..Or maybe their recommendation is a sure thing ??
1.66 per RJ...if backing out interest and capex costs, but not sure why they include the interest portion of that equation..Over my pay grade..
selling comes in waves..While I would love to see what you are hoping for, I don't expect any roses are coming our direction for a period..
big surprise for those who need INCOME gg.!!!..RJ is flabberghasted at the recommendation and the coverage ratio that far exceeded their internal projections..They had 81% projected..Backing out capex and interest, it came in at 1.66 times I believe I read
long way to go with this way OVERSOLD puppy...7's and 8's soon coming...Just on technicals of being oversold alone !!!!!!!!!!!!
if I was speaking with someone with an ounce of intellectual honesty I would go at length, but just talking technically is ENOUGH of being OVERSOLD ...Don't let your OPINION get in the way of FACTS "33"..
for idiots remaining short...What ever you think longer term, this is a WAY WAY over sold ....and that's putting it mildly..Would not doubt we see 7's or 8's in very quick fashion and within coming days..FWIW..
Would not doubt if somewhere on his head a "666" is embedded...While he may not personally be the anti Christ, much of what he has done as to policies and helping our enemies points in that direction..He is the most divisive President in our history and is even worse than when Carter held the office..
HIGHER than prior for sure in my view...Shorts getting caught up their own feeding frenzy ..Hot potato getting out of a way oversold position..I'm expecting a 20-30% upside move shortly..Macro wise with lots of energy names..Feels like a Long Term Capitol scenario with a major hedge long being liquidated..That is my guess in combination with the short feeding frenzy I mention..We shall see..
no doubt a sector wide collapse occurring ...It is NOT Line exclusive by any means...I fully believe there are/ were lots of margin issues by some very large bigs and in combination with ETF selling and further shorts..A perfect storm that in my view should be ,looked at as OPPORTUNITY..Added some and will add more as I continue to cost average my growing position..I expect CC or even prior to, many will try to cover their shorts and buy this way oversold puppy...Most times it is a good time to buy at the sound of cannons...When it comes to hacks, it is best to place the known crew on ignore..
correct.....Markets don't always predict the future correctly and i belive your prediction will turn out to be accurate..The chorus is what it is due to the very large number of shorts now in Line trumpeting their hopes..Shorts far exceed longs posting, so being a contrarian, I will add today as I hear the sound of their cannons..Not easy to buy stocks that have dropped as much as Line, but nobody rings the dinner bell at the bottom...I'll continue to cost average my growing position.
bet that whole $10 on it Bj ! LOL...As another thought, if it's below $6 as you suggest it will be, then I'll not post for a whole month..Maybe you have a smidgen of courage and will leave us for the same duration if it is not.. I'll bet it is even higher than now where it stands at 6.16/share...What say you ? Are you game ? Or are you not up to carrying my jock strap ? LOL
they NOW exceed capitalization of the entire company if we are to believe current pps as fair value.....We're below $2 billion on that CAP front, and hedges ALONE exceeded that value last I read at 2.1 BILLION ..They've only increased in value since that time..Entire MLP sector just being crushed by ETF selling or margin guys getting calls...Sure feels like capitulation to me..Triple average volume
and nobody rings a bell at bottoms either..This is a fantastic time to begin cost averaging a position...Being a contrarian and buying when fear mongering prevails and as your chorus also echos is also wise...