Well, I've heard on the chat boards (fwiw) week of May 9th or May 13th. Once additional news is posted about the IPO, BKS is gonna fly back to the high 30's...so this pullback is a gift. I doubled my position below 34. Until we hear definitive news, it's gonna float between 33-35. Time to accumulate, imho.
You are right about 50's...I was just trying to be conservative. If the IPO is timed well with the rest of the market, it could concievably go into the 60's or 70's on a CNBC CEO interview (which, you know, is inevitable with this big of an IPO). With a flatter market, 50 sounds good based on historical charts.
I've heard a number of analysts talking very bullish on BNBN - it really is the biggest inet IPO of the year. Considering that these relatively small portal IPO's with scant revenues can move into the 70's and 80's, I'd expect that BNBN could go 100+ (again, assuming a friendly market).
BKS under 35 looks very safe looking at the charts and if you take a 30 day outlook. If we drift to 33, I'd see it as an opportunity and will double my position once again. But looking at today's trading, I don't think i'll get that chance :-)
SM |
