The danger here is that if the selling goes on much longer we could be down to $3-4/share. I get the sense that most investors now think that the entire MLP sector is unprofitable at these commodity prices.
The one or two times I have sold a stock out of frustration turned out to be mistake. I really wonder about this, though...I wonder why does it go down when natural gas prices seem to have stabilized...?
I have no alternative motives, I am a long term hold. But this is getting ridiculous...no bottom. This stock has lost 2/3 of its value in 6 months .The oil producers are committing mass suicide by pumping out more and more oil. I don't see much hope. Some people just cannot admit they made a mistake and never sell. I am not one of those.
I have held on a long time, and I am generally very patient. But there is no bottom to this stock. Reports indicate that there is a huge stockpile of oil and production just keeps increasing. This week was the highest us production since 1971. I think this is going to low single digits and they will keep cutting the dividend. Eventually it will be down to something like $3 to $4 dollars with a 30 cent dividend...thoughts?