For those playing recent IPO's, caution is in order here.
Imho, short term IPO trading with tight stops is the safe way to go here in this market.
Today several new issues came to market, most are under water, although they are not stellar companies for the most part. RSNT, iam liking the more dd I do, low float, but priced quite high = can be a good sign, but it is GS underwritten, and they tend to over price imho.
To the point, I think this cycle of ipo's is just about over, if you feel we have further downside in this market ( I do)....IPO's will be the first to tank, have a look at TNSI (actually looks slightly attractive at these levels) down from 44 to 16 in a week, also ACCL was way down.
The only 2 ipo's iam liking are SPWX and AVCI
AVCI getting very pricey imho. SPWX in and out trading.
Also NUAN, just did it again, reminds me of that bouncing ball sing along, has been very predictable. NUAN and SPWX in the same biz.
K |
