Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 181.39

+1.4%

2:46 PM EST

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To: Triffin who wrote (11212)	3/14/1999 5:48:00 PM
From: SteveDavis	Read Replies (3) of 56535

IPO: I have played IPO on the first day of trading with some limited success lately. I have noticed on the 2/3 day of the real screamers that there seems to be a nice jump. I think what is happening is that people are now waiting to see what the price settles at after all of the first day gyrations. The 30 day quite period is another thing I have watched as this secondary pop takes place. I think of primary importance is who the lead underwriter is. Goldman carries much more weight than Smith, Smith & Smith. As the lead underwriter Goldman would be embarrassed to come out 30 days later and rate it a "hold", in most cases. Same goes for Merrill, Morgan Stanly etc. All of the top brokers will have a nice "buy" rating, I believe. ONXS is perfect example. Coverage started with strong buy. I saw the news early and looked at the stock. Trading at $20, up from 191/2, on very low volume. Being the astute trader that I am I passed because not enough volume. I think it hit $28 later in the day!!! I hope not to make that mistake again. I will be glad to assist in any way that I can. Steve Davis

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