Aaaaaarrrrrrggggghhhhh!

I think I mentioned on this blog a couple weeks ago that I did not sign up for the MPLX IPO as I just had not noticed I was eligible for it (probably because I owned MPC). So this week I went into my Fidelity account to see if there were any other IPOs I was eligible to participate in.

Now I have never participated in an IPO (except that of the company I work for), so to he process is new to me. I was allowed to participate in two oil and gas pipeline deals, Southcross Energy and DKL.  I read the prospectuses and they both looked pretty decent, with dividends around eight percent, they'd fit nicely in my dividend portfolio.

So I expressed interest in a certain number of shares. Thursday I got an email from fidelity during the day saying they had both been priced and that evening I had to reconfirm my interest as they started trading on Friday.

Well Thursday had been a very stressful day for me. I had had to be n New York City ( no a fun place to be this week), for a very important meeting. When I got home to Connecticut, I had totally forgotten the Fidelity email from the morning.  So I never confirmed my shares.

I got one final email from Fidelity Friday morning, but at that time, t was too late. Al I could do was watch how they went off. DKL was up a the end of Friday about ten percent, and SXE was up about fifteen percent. That was some seriously low hanging fruit that I failed to grab!

Aaaaaarrrrrgggghhh!