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Strategies & Market Trends : LastShadow's Position Trading
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To: AlienTech who wrote (16388)6/30/1999 7:49:00 PM
From: Jay Lyons  Read Replies (1) of 43080
 
IPO's

It seems to me that we all forget that the opening market price is not the bottom. We tend to forget that the NPLS IPO price was 16, so if there isn't immediate strength, there are a ton of sellers at 24 who are looking at the trade as a 50% profit. We think of people selling at 21 as selling at the bottom, while the fact is that there are people chalking up 33%/1 day gains at that price.

On the bright side, to my knowledge, there are very few GS IPO's that haven't been successful. They're second only to Morgan Stanley, to my understanding.

Jay
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