Darn It

I guess the gods do not want me to participate in an IPO this year.  I had signed up for the MONT IPO, which was priced last night.  But the way it works is that the evening it is priced, you have to go to Fidelity between 7pm and midnight and confirm your interest at the final price.

I forgot.  I was busy at a business function and when I got back to hotel, I had totally spaced the IPO.  So now I will never know if this was the 1 IPO I would have gotten some shares for.  Oh well, I will keep looking, I think there are some more down the road. I will watch MONT today to see how it fares.

I am thinking about selling a portion of my TC-PT holdings.  I am up about 25% and as I have mentioned several times I am very wary of material stocks.  I have already sold my FCX, NSU and NEM.  TC-PT is the last holdout and I may take some profits on perhaps a quarter of my holdings.

I was a bit bothered by Warren Buffett saying last week that the market was "fairly valued".  I took that as a euphemism for over-extended.  I look at my portfolio and I really can not decide what to sell.  So I will likely just batten down the hatches, sell a little on the margin and not really buy anything substantial for a while.

Speaking of battening hatches, did everyone see the great comeback by Team Oracle in America's Cup yesterday in San Francisco?  Super cool!