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Technology Stocks : Ticketmaster-Citysearch (TMCS) -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (7)	11/28/1998 5:19:00 PM
From: Richard Spitzer	Respond to of 803

Say the IPO is priced at $15 a share. You put in an order before the open to buy at the "Market". YOU WILL NOT GET IT FOR $15. Pre-open bidding will drive the open price to around $40-$50. You wind up buying it for that higher price. As soon as it opens, lots of people who are lucky enough to own those share at $15 (you have to be a BIGGIE with one of the offering brokers) will sell for the profit. By the time your purchase at $40 per share gets posted, the price will already probably be down 25%. Lots of precedence for this trading pattern. The challenge is to try to guess the bottom of the initial dip. And that's what it amounts to, a pure guess! Rich