From Briefing.Com on how to play lack of new issues this week and suggesting that more money will move into some of our "old" favorites the likes of NTRO and others:
15:45 ET ******
Daytrader : The IPO pipeline is temporarily clogged, little of note on the tech earnings calendar and stocks likely to continue turning over at a slumberous pace. Not suggesting that the week ahead will be dead by any means, just few opportunities to gain advantage by doing homework... What you can expect is a great deal of volatility on Tuesday, the day that the Federal Open Market Committee meets to decide near-term interest rate policy. Expect news of decision to hit the wires that afternoon at about 2:15 ET... Not sure if Wall Street investment bankers simply taking the week off, or simply wanting to avoid floating IPOs on same week as a FOMC meeting. What ever the reasons, the underwriting calendar is queerly devoid of deals. The ones that are scheduled to be unleashed are coming through such unrenowned names as Cruttenden Roth and Barron Chase Securities. With a lack of new toys to distract them, traders likely to revisit some of their former favorites, such as MP3.com (MPPP), Digital Island (ISLD) and Engage Technologies (ENGA), as well as deals that hit the market this week, e.g., Netro Corp (NTRO) and Wink Communications (WINK)... Earnings reports due Monday from 3Dfx Interactive (TDFX), Tuesday Newbridge Networks (NN) and Semtech (SMTC), Wednesday Etec Systems (ETEC), Thursday Intuit (INTU) and Autodesk (ADSK)... Tech companies due to execute stock splits include VerticalNet (VERT) and Verio (VRIO) on Monday, Sawtek (SAWS) Tuesday, and Immunex (IMNX) on Friday. - DS |
