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Microcap & Penny Stocks : Here's a New Approach

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To: SellShort who wrote (517)	11/6/2000 10:28:06 AM
From: Patricia Meaney	Read Replies (1) of 654

In answer to your questions: Yes, you are supposed to hold an ipo for thirty days, but you don't have to. It's called "flipping". If you flip an ipo you then supposedly get penalized from receiving another ipo for 60 days. The reason I say "supposedly" is because it depends on the broker. When I got ipo's from Wit they definitely enforced the rule. Etrade claims they do, but I have seen many get new ipo's right after flipping. My personal opinion is that the way the market is right now you'd be crazy to hold it 30 days. Flip them and take the penalty (if they even enforce it) who knows if you would even get a new ipo within 30 days if you hold since it is done by lottery. I have had several months go by and with no allocations, and I also have had a couple of allocations within the same month. There's no telling! About the PM you received: I haven't looked at your profile, but I'm assuming that you signed up for the service when I did which was back in '96. They grandfathered anyone from a certain date back so that if you were one of the original members you don't pay. From what I understand, we still get it for free and this new public forum is just an added addition.

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