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To: DAY TRADER who wrote (241)	1/1/1999 4:27:00 PM
From: Gary Metzer	Read Replies (2) \| Respond to of 3070

Daytrader et al, Just found this thread and read through all messages. In at 15 IPO for 100 shares (asked for 2000). I'd like to add a couple of comments that I hadn't seen posted yet. 1. Schwab handles distribution of shares for IPO's that are handled by any of the following brokerage houses : Hambricht and Quist, CS First Boston and JP Morgan. If you want to get a jump on DD before Schwab posts, check out IPO plans of these companies. 2. Schwab allocates shares in a manner as to get SOME shares to as many of their customers as possible. They are NOT pro-rated. ie. a person asking for 5000 will get the same as a person asking for 100 if the issue is in high demand. Some comments by others on this thread said that Schwab gives out 100 share blocks because they can make more commission. GET REAL!!! Doesn't it make sense that Schwab would rather have 1,000 semi-happy customers than 50 very happy customers??? IF the issue is SO oversubscribed that they can't even give 100 shares to each of the Schwab 500 members that want them, they would probably allocate based on account balance and activity. I don't know for sure, but I can't see them distributing fewer than 100 shares each. This causes some minor problems in trading odd-lots that are not to Schwab's advantage. After all, there are limits. Happy Investing Gary