That's what you pumpers have been saying for over five years! LOL!!! I looks like the suckers that believed that have about all left the building.
And I would wager you will see another divvy cut in the near future. This stock is nothing but a P.O.S; it was a POS yesterday, it's a POS today, and it will be even a bigger POS tomorrow. Management is just bleeding it dry to support the salaries, and they will likely cut the divvy to do it when they need to.
I don't like it either but have had a big laugh out of this move. All the pumper posters who claimed to have great knowledge and wisdom about LINE and the markets are now silent. There knowledge and wisdom has been exposed, there were and are completely ignorant and got there #$%$ handed to them. I say again, there was at least 12m shares short before this merger was complete, and there was no effort to cover, and no concern as the shorts knew perfectly well this merger was a done deal. That tells you something! They had no intentions of covering at $30+ so they must have known it would go back down hard and fast. The question is how far will the market let them go? With the volume what it is I see no end in sight as of yet. It's a crooked game with the SEC turning a blind eye while gaging at the gnat and swallowing the camel. I wish I had the answers, just play along and let the crooks have there way, if the SEC won't help, there's nothing we can do but watch. It's the same ole, same ole over and over again.
I posted yesterday morning to expect shorts to hit us, howbeit I didn't expect it to be quite this soon. However not to worry, this will not last long as the selling to lock in profits will soon stop and make the job a lot harder to drive down the pps for the shorts. The shorts have a VERY short time to do there dirty deed and cover, and remember, things don't always go the way shorts have it planned. Before the end of this week we will start to see the bashing reports from Hedgeye and friends but most of it will be in vain and do little to help there short pos. Pay day is just around the corner for LINE longs.
The time to buy this terd will be when fracking has all been stopped and the oil fields world wide begin to dry up, and only then. But management will have drained the Co. dry long before that by paying themselves, family members, relatives, and many casual friends big unjustified salaries, all while shareholders hold the bag.
You got some of it right, "it won't happen overnight". Actually it will take many long years, and that's IF this deadbeat management team don't BK the Co. first.
Surely you people weren't naïve enough to think the ones holding 12m shares short was going to cover at $30.? I told you in an early post today to watch out for the shorts to drive it back down, and it's already started. Anyone buying massive amounts of shares did so when LINE fell to the low $20s so there is no big volume buyers to support the price, much less support a run, or as some call it, "a big pop". When the shorts get finished they will cover and then, and only then, up we will slowly go. The street is nothing but a den of thieves, either play there game or stay out.
Wrong! there is very little tax selling in MLPs. The big boys bought back when was cheap in the $20s. They have laughed all the way to the bank.
The POP everyone is looking for already happened back when the stock fell to the low $20.s the big buyers jumped in and slowly pushed the pps back up to $30. as they knew all the time the merger was a given. Just look at the volume today, it tells the story. All that's left to drive up the price is us small frys, and that will take time, but it will happen.
It has been known for quite some time that the merger was a go, the "POP" you were looking for already came when the stock run up to $30 and then on to over #31. before settling back down at #30. Any big buyers was way ahead of the game. There is still about 12M shares short so look for an effort to drive the stock down so they can cover, but brighter days ahead for sure sooner or later.
"shaking the tree", I think that's what's going on. Most buyers are in wait and see mode so that makes it easy to shake the tree a little. I'm thinking about adding a few shares before the close today.
"weak", ALL energy stocks are weak today, and for most of this week for that matter. Nothing new here, nothing wrong, nothing to panic about, the sky isn't falling.
Sell off in energy is across the board, just volatility in energy stocks, nothing new. Maybe we get lucky and drop to $28 or more before vote results and merger news, which is a given. I would like to add a few more shares but hard to pic a bottom.