I never got a buy in on SEEK yesterday, but I traded INKT to the upside today and closed that out nicely. I later picked up 500 SEEK at the close at $33 3/8. Why? Lot a reasons, but in terms of a day trade I'm looking for a rise tomorrow primarily due to tomorrow's internet IPO, THEGLOBE.COM. It looks like a piece of crap, but that's not the point. Bear Stearns put this back on the shelf a few weeks ago when things started to look ugly, but they just brought it back out and it's expected to price this evening. So we very likely should have a nice climate in the morning judging from the aid the sector has gotten from the other IPO crap this week. As Briefing.com nicely put it,
<<Tracking an Internet IPO these days is like waiting on the launch of the shuttle Discovery. When the weather clears, the bird is quickly put into the air. Apparently, the storm clouds have drifted past the market for Internet IPOs.>>
In sum, Bear Stearns thinks that the climate is right, and they'll do what they can tomorrow to help things out.
All IMHO,
Anaxagoras (who is frequently dead wrong) |
