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Strategies & Market Trends : Lizard King's Trading Swamp
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To: LzzrdKing who wrote (600)8/21/1997 2:02:00 AM
From: NhotH20   of 7396
 
Lzzrd
ipos that will get my attention are:
Those that are priced above the max filing range
Open price is 2pts or more over offer.the bigger the gap the better usually not immediately but down the road.
Those oversuscribed many times.
Shares issued between 2-5 million
Well known underwriter.
Sales and earnings growth over 40%...like to see em become 90+EPS 90+RS in IBD quickly. Almost daily one on my list hits New America Page and will spark interest.
I employ three distinct trading strategies. Will give my favorite here first.
Best technique is to buy after coming out of a base when the hot money has left the issue.Usually occurs 2-3 months after issue has been trading and at a new high. Goal is for multipoint move within 2-5 days,sometimes happens in minutes, from breakout. Am quick to sell losers 1 pt stop a general rule. Many times these issues are thin so not for 10000sh traders 1-3k usuually best. Often there is a volume spike 1-2 days before break. I use a limit minder to alert me when bid is approaching breakout price. I always use a new hi Bid not offer for true break.
For examples of multipoint movers on recent breaks look at IRIDF, FGII, CYMI and RMBS.
Final thought if I miss my entry point I don't chase em there is always tomorrow.
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