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Technology Stocks : Buying IPOs on the open market -- Ignore unavailable to you. Want to Upgrade?

To: Kimberly Lee who wrote (2466)	10/6/1999 8:57:00 PM
From: puborectalis	Respond to of 5529

VIXEL is a steal...... The following quotes are an excerpt from an article featuring Vixel's 8100 Fabric Switch and SAN InSite Management Software. "Vixel's Fibre Channel Switch Flexible for Exploring SANs" By Henry Baltazar, PC Week Labs August 1, 1999 9:00 AM ET "In PC Week Labs tests, the Vixel 8100 proved fairly easy to implement and highly configurable. Using its management software, we were easily able to configure the switch's ports to service clients and to support JBODs (just a bunch of disks) and Fibre Channel RAIDs. The switch supports all of the current loop standards." "The Vixel 8100 Fibre Channel switch just released by Vixel Corp. gives IT managers a powerful SAN building block with versatile management capabilities." "The switch's management software, which lets IT staffs control both Vixel Fibre Channel hubs and other Vixel switches from a single console, sets the Vixel 8100 apart from switches created by the company's competitors in the emerging market for storage area network components."

To: Kimberly Lee who wrote (2466)	10/8/1999 3:18:00 AM
From: Gordon Gekko	Respond to of 5529

NASD board OKs rule for distribution of IPOs NEW YORK, Oct 7 (Reuters) - The parent of the Nasdaq Stock Exchange said Thursday its board approved new rules aimed at ensuring that brokerages don't distribute shares of newly public companies to individuals who are in a position to give their firms future business. The rules, which need Securities and Exchange Commission approval, come at a time investor demand for initial public offerings (IPOs) is bigger than ever, especially for companies that do business on the Internet. Investor demand for such stock offerings can easily outpace supply by a factor of 10 or more, and the shares often trade far above their offering price in the first day of trading. The rules approved by the National Association of Securities Dealers (NASD) board of governors would place more restrictions on how Wall Street firms allocate IPO shares but cut back on the number of issues subject to the rules. The new rules prohibit securities firms from holding back offering shares from investors to give them instead to individuals who can direct business to the firm. Hedge fund managers, investment advisors, and other investment or portfolio managers specifically would be barred from purchasing IPOs that do especially well, the NASD said. The rules loosen current regulation in one respect, by limiting the rule's application to ''hot issues'' only. Under the NASD's proposal, a ''hot issue'' is defined as any share offering in which the stock's volume-weighted price is five percent or more above the offering price within the first five minutes of trading. Under current regulations, the ''hot issue'' rule applies to any security that trades at a premium to the IPO price whenever public trading starts.