I did great with NTOP, selling two-thirds. Took that money and tried LOOK at 19 7/8 but had to sell at 19, then putting that cash into PKTR at 31. PKTR closed at 32 3/8s (up 2 1/2), so I got the money I lost LOOKing back, plus some extra change. All in all, it was a great day.
At $30 a trade Schwab must love me. I'd have thought they'd reduce their trading fees by now--but they haven't. As a consequence they may lose me as a customer. Are you reading this, Charley? (LOL) That new E-trade multiple trader deal seems very, very inviting to me. So I'm now thinking about carrying two accounts, one with E-Trade; the other with either Wit or Daytek.
Since I've been using an IPO open market trading strategy--about one month now--I haven't had any luck with Friday IPOs. The three in which I lost money were each Friday IPOs, like LOOK today. Last Friday the was a good IPO, but it was one I didn't play 'cause I got bogged down with IGLD.
I'm headin' into Monday holding PKTR and NTOP, whose quiet periods end on Monday and Tuesday respectively. I plan on selling most of those shares during the early morning spike--if I can time it right--and leave the rest riding for thrills.
Overall, it was quite a day! Although richer, I'm now weary-eyed and thoroughly sick of hitting quote buttons. It's time to change my energy, put my blades on and skate the streets of Boston and Cambridge, checking out a few pubs along the way.
Marshall, again, thanks for your helpful suggestions.
Enjoy the weekend! |
