Anyone have any insight on VLP?

[Coronita]

So I sort of bought this stock accidentally. Back in mid-december, instead of entering VLO I fat-fingered and entered VLP and the order executed before I had a chance to cancel it… Oops…

Purchase price was around $29.50. Have no fricking clue about it, and am deciding whether to keep it or leave it. Volume is ridiculously low (maybe since the holidays + IPO)….

Thoughts?

Keep or dump?

What the heck are MLP’s?

[Doofrat]

I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.

[Coronita]

[quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Thanks… I’ll sell it the first week of next year. Last thing I need is more capital gains this year 🙁

[enron_by_the_sea]

– you get k-1 with MLPs. Depending on nature of their business, it can be some times mind numbing experience
– hopefully you don’t have them in IRA. There is a rule (UBTI) that comes into play if you do.
– the price of units depends on distribution and distribution growth. Few years back, it was super easy to buy MLP with 8%+ distribution that grew over time. Now not so easy! A quick glance at the prospectus suggests that this will start at 3% ish region. So where it goes from here is entirely depends on what the growth plans are and how greedy the general parter (Valero, who gets paid first) is. I am too lazy to check it out.

– the quality of business matters too. I think pipeline MLPs are best. However recently there has been an explosion oh junk businesses posing as MLPs. The market is simply too hot.

If I were in your shoes, I would sell it but probably not on jan 1st. Maybe see how high the market takes it… Your k-1 for 2013 and 2014 is coming no matter what!

[Coronita]

[quote=enron_by_the_sea]- you get k-1 with MLPs. Depending on nature of their business, it can be some times mind numbing experience
– hopefully you don’t have them in IRA. There is a rule (UBTI) that comes into play if you do.
– the price of units depends on distribution and distribution growth. Few years back, it was super easy to buy MLP with 8%+ distribution that grew over time. Now not so easy! A quick glance at the prospectus suggests that this will start at 3% ish region. So where it goes from here is entirely depends on what the growth plans are and how greedy the general parter (Valero, who gets paid first) is. I am too lazy to check it out.

– the quality of business matters too. I think pipeline MLPs are best. However recently there has been an explosion oh junk businesses posing as MLPs. The market is simply too hot.

If I were in your shoes, I would sell it but probably not on jan 1st. Maybe see how high the market takes it… Your k-1 for 2013 and 2014 is coming no matter what![/quote]

Thanks for the feedback… Great, more things that complicate my taxes… Oh well. Guess I’ll wait…

Sort of regret not adding more VLO mid december instead of this turd….

[Coronita]

[quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Your order should have executed today 🙂

$50/share today.

[5yearwaiter]

[quote=flu]So I sort of bought this stock accidentally. Back in mid-december, instead of entering VLO I fat-fingered and entered VLP and the order executed before I had a chance to cancel it… Oops…

Purchase price was around $29.50. Have no fricking clue about it, and am deciding whether to keep it or leave it. Volume is ridiculously low (maybe since the holidays + IPO)….

Thoughts?

Keep or dump?

What the heck are MLP’s?[/quote]

Flu how did you get this kind of pic exactly few weeks back and what that wiz mind back on this selections? or any links where we can gain some knowledge on this kind of spot gains?

[Coronita]

[quote=5yearwaiter][quote=flu]So I sort of bought this stock accidentally. Back in mid-december, instead of entering VLO I fat-fingered and entered VLP and the order executed before I had a chance to cancel it… Oops…

Purchase price was around $29.50. Have no fricking clue about it, and am deciding whether to keep it or leave it. Volume is ridiculously low (maybe since the holidays + IPO)….

Thoughts?

Keep or dump?

What the heck are MLP’s?[/quote]

Flu how did you get this kind of pic exactly few weeks back and what that wiz mind back on this selections? or any links where we can gain some knowledge on this kind of spot gains?[/quote]

Sure….I woke up one day in mid december and got out my wall street journal (the one someone that someone on my street didn’t steal), put it on my dartboard, and threw a dart at the stock quotes section…. It landed at VLO….I was in a hurry to go to work, and wasn’t paying attention so I entered VLP instead of VLO and hit, “buy”…Since I disabled order confirmation, it executed without asking me “are you sure?”…..Went to work and got an email confirmation that I bought VLP instead of VLO and started crapping in my pants…Didn’t do much since it wasn’t moving and I didn’t want additional tax consequences from selling something this year….So I held on, not knowing what the heck it is..

You can try the same strategy, because I found out for me, it’s a lot more effective than if I actually try to rationalize what is a good buy and what isn’t….Ok, maybe not *that* random….. But if you think this had anything to do with my stock picking skills, you can rest assure that 100% it is not….
If you don’t believe me, just ask AN, because hecan tell you everytime I am off…Way off….Because he usually gets to hear every foul thing out of my mouth when I am….

Strategy #2 that works is (1) find out what I’m selling… (2) Buy whatever I sell immediately right after I sell… And if you hear me short sell anything, immediately dump your life savings into a long position…Example, see, if I was smart, back in the beginning of the year, I would have kept VLO when it was in the mid-20ies…Just like another gentleman that use to post here with the handle desmond…I think I bought and sold bought and sold a few times trying to grab a few bucks of gain each time…Then things kept going up and up…First it was the thirties, then the thirty fives…Then the forties….

Then there was the posts I made about what a joke FB was at $18/share….Thankfully my dad didn’t listen to me. He went ahead and bought it anyway… Things got really “interesting” when I opened a tiny short position in the 40ies…. You know what, never mind… Don’t go there…

You get my point? Take a contrarian position to what I do. And you will do fine…….I don’t mind turning everyone else around me into great stock pickers with my contrarian indicators based on my own (lack of abilities)….You are welcome.

Happy New Year. And may you have a prosperous 2014 by doing exactly the opposite of what I do… 🙂

[5yearwaiter]

Many thanks for sharing about the fact behind “what is this accidental buy” – now I am more pragmatic about stocks buy and how to yield gains. The belief I end up after reading those facts “just dont do math but act at will mostly radom mistake(s) and the rest leave it in the air”

Wow!! relaxed now by understanding whenver I bought stock after an extensive research why the heck that stock goes down and whenver I sold any that stock goes up

Cheers and Wish you a Happy and Prosperous New Year

[Coronita]

[quote=flu][quote=doofrat]I’ve got an open order to sell VLO at $49 so one of us is wrong 🙂

BTW, an MLP means you get a Schedule K-1 (probably won’t get it until April if you get one at all for this year).

Depending on how much you bought, you might not want to deal with the K-1 headache each year if you only bought a small amount. It’s a really confusing form in my opinion.

Also, my VLO sale is just trying to limit my Oil stock exposure on this upswing.[/quote]

Your order should have executed today 🙂

$50/share today.

[/quote]

I win 🙂

[Doofrat]

Nice! Enjoy that Cramer pump. I picked it up for 20.58 just over 2 years ago and need to lighten up on oil a bit, so what do I do? get rid of my best performing stock of course. I also sold WMT at 60 in 2012, so don’t listen to me 🙂

[ucodegen]

[quote flu]You get my point? Take a contrarian position to what I do. And you will do fine…….I don’t mind turning everyone else around me into great stock pickers with my contrarian indicators based on my own (lack of abilities)….You are welcome.[/quote]
So are you going to open up a thread where you post every purchase, sale or short that you make?

Logic clearly dictates that the needs of the many outweigh the needs of the few

☺

[Coronita]

[quote=ucodegen][quote flu]You get my point? Take a contrarian position to what I do. And you will do fine…….I don’t mind turning everyone else around me into great stock pickers with my contrarian indicators based on my own (lack of abilities)….You are welcome.[/quote]
So are you going to open up a thread where you post every purchase, sale or short that you make?

Logic clearly dictates that the needs of the many outweigh the needs of the few

☺[/quote]

Lol. Sure. Though I don’t own either VLO or VLP anymore…. Sold VLO around 52.5 and sold VLP around 46 about 2.5 weeks ago….

Now I get to wait for the nice tax bill.

[Coronita]

Maybe I’ll short 200 shares of qualcomm just for completeness so some of you piggs will be able to afford your million+ homes when it passes $100/share…

And no worries, I’m sure we’ll see VLP go over $50 now and VLO go to $60…. Since obviously, it happens..after I sell….

Kinda like NXP Semiconductors which is over $50 now…

[ucodegen]

[quote=flu]Lol. Sure. Though I don’t own either VLO or VLP anymore…. Sold VLO around 52.5 and sold VLP around 46 about 2.5 weeks ago….

Now I get to wait for the nice tax bill.[/quote]
Much better than having a loss/loss carryover. I’ll keep an eye on those two to see if the history repeats. I had BSTE(Biosite) quite a while back. Picked it up near the bottom before it got bought out. A lot of naked shorts on that one, that did not want to admit their screwup. Nice gain (big tax bill). I’ve had RMD for the run up too.. got too much of it (too large of a % of my portfolio – increases the risk too much). I should have re-allotted my account when I saw it at 55.
[quote=flu]Maybe I’ll short 200 shares of qualcomm just for completeness so some of you piggs will be able to afford your million+ homes when it passes $100/share…

And no worries, I’m sure we’ll see VLP go over $50 now and VLO go to $60…. Since obviously, it happens..after I sell….

Kinda like NXP Semiconductors which is over $50 now…[/quote]Interesting that you are considering shorting QCOM. I recently looked at S&Ps rating for QCOM.. using their ‘star’ rating.. it was 5, effectively a ‘buy’ rating. I’ll be looking into their 10K/Qs soon.

I’ll take a look at NXP in the next week or so.

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