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Politics : Ask Michael Burke

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To: re3 who wrote (58058)	4/29/1999 1:09:00 PM
From: Michael Bakunin	Read Replies (1) of 132070

Yes. Herewith my view: everybody "knows" it will go up after IPO. The buy side, therefore, is oversubscribing the offering; the momo daytraders are champing at the bit. At open, Goldman will shoot out of the gate and race ahead. Watch the volume; when volume starts to spike, that'll be the buy side fliiping the IPO for free money. Alas, the only way to play the inevitable drop is to be courageous and short, since I doubt they'll list options before the IPO. <g> I'm too craven to short stocks in this market, so I'm giving it a miss. But it'll be fun to watch; if the frenzy drives Merrill back over par, perhaps I'll be able to put a proxy. -mb

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