What happens if oil goes back down to 53 and below in the next few days. All the oil stocks are up on this small run up in oil and other factors in some cases. Of course I wish I would have bought again this morning, but I wouldn't be real comfortable. I thought oil would bottom at 60, so what do I know. I simply am saying that I think this huge run up might have been irrational and premature.
The problem with that is most currencies are dropping in relation to the dollar. You would have lost much more than 6.6%.
Seeking Alpha article. Really brutal. Of course, you can read many other articles with opposing viewpoints. Who knows anymore. I guess it's dependent on the direction of oil and how long it stays at or below/above this level. I gave up on predictions a few days ago. Red or black?... All we've had for the last few weeks have been 0's and double 0's.
You're probably correct about the time frame of the oil glut. I just bought a little more LNCO after buying a little too high this morning. Probably not smart, but it looks like capitulation this morning.
Hard to be that these posts were less than 1 month ago ... LINE was at 23.50 ... oil about 76 -77. Now What?
So ... you think you are the only person here who knows how to protect the downside by buying puts .... that's somewhat elementary. Let me ask you one question ... would you be better off if you had never bought LINE in the first place? Me thinks I know the answer. By the way ... you could have bought puts without buying the stock ... I doubt you made enough on distributions to cover the cost of your puts. Oh ... I forgot .... you have been riding this thing down from 30. Oh well ... I'll go talk to a stump now!
So ... what are you thinking now ... 6 weeks later ... really ....
I'm interested to know ... because I too am cloudy at this point.
OPEC has always been a worthless body. Don't expect anything from them, except lies and deception. It's always been that way with that bunch.
It isn't. LNCO ... down 12.18%, ARP .... down 11%, VNR ... down 14.34%, ROYT ... down 11.50%. They're all down and going lower unless oil stabilizes and they divi/distribution is deemed to be safe.
If the distribution were known by to be stable, there would be buying, instead of selling. ARP, ROYT, BBEP. etc.etc. have dropped down to unbelievable low levels. Oil prices appear to be heading lower, therefore it seems LINE will continue it's drop. Apparently there is no way to know if the distribution will remain at current levels or how low oil prices will drop. Sidelines for me until I have something more definite to make a decision from here.
You know how they say "If you can't say anything nice, don't say anything at all". I have nothing nice to say about today's run-up. I still think oil will approach 60 or below and that LINE will cut the distribution. In other words ... LINE id not finished going down .... "That's all Folks"
Wondering if you're considering a buy at this point? I'm fearful of a cut in distribution. LNCO is just looking too cheap to pass up though. I think I'll wait awhile. I remember thinking the same when it broke 20.
That's hard to believe. Hard to believe this is selling in the same price range as ARP and some of the others. What next? I'm thinking it might be time to nibble.