Trader Mike

I’ve mentioned several times before how I love to buy recent IPOs as they make new all-time highs after building a base. Kirk has two posts today containing some strong young stocks. I suggest you put them on your watch list.

Big Mo in IPO Land
Strong New Stocks

The volume on about half of those stocks is too low for me, but some of you (you know who you are) may like those thin puppies.

And speaking of recent IPOs, GOOG is getting real interesting. It dipped under $100 today and the first part of its lock-up expires tomorrow. Bombs away? From Briefing.com:

11:38 GOOG Notable Mention: Google’s first lock-up expiration tomorrow (101.09 -1.28)

AmTech …

Google has filed their S-1 with the SEC. Briefing.com just posted the following (emphasis is theirs… and you’ve gotta love the 14:42 note):

14:42 Market moves to lows of day; hearing large seller of S&Ps

Traders also talking about the ‘deflationary impact’ of the Google IPO auction process, saying that an efficient market doesn’t work well in their line of work.

14:17 Google bidding process

S-1 says: We plan to conduct this auction in five stages-Qualification; Bidding; Auction Closing; Pricing; and Allocation… When the preliminary prospectus becomes available, you will be able to obtain a unique bidder ID from a web site. Approximately x days after the date on the cover of this prospectus, all …

I just got received an e-mail asking what I think about Google’s IPO. I thought I’d answer it here because with all the hype the IPO is receiving, I’m sure many people have the same question. (And besides, I need something to blog about during this boring week.)

Bambi Francisco wrote a piece about the Google’s IPO in which she made a lot of great points about relative valuation and the increasing supply of internet stocks. I think she did a great job in covering all of that stuff, so I won’t bother talking about those issues.

My concern with this IPO is that it’s over-hyped and the little guy will …

I just saw this on Anil’s blog - RedEnvelope seals bid for IPO. I think his comment on this story is dead on. He said “that’s the most 1999 headline I’ve seen in a long, long time”. But what I really want to know is, does anyone even shop at RedEnvelope? Maybe I’m just out of touch, but I can’t imagine that business is booming over there.

And I can’t help but see the irony in these IPOs trickling out now, just after IPO.com shut down.

There’s more Google IPO talk this morning, coming out of the article I linked to yesterday. From Briefing.com:

07:49 ET Google Plays : CBS MarketWatch running a story speculating what Google would do with IPO cash. One individual interviewed for the story thinks Google would need to strengthen its technology with a purchase of a company like Akamai (AKAM). Or Google could use cash to help compete with larger rivals such as Yahoo! and Microsoft, which may be looking to make acquisitions of their own. According to article, many observers believe Yahoo might buy Google’s top rival in the paid-search business, Overture (OVER), or that Microsoft might bid for LookSmart (LOOK).

Let’s see how these stocks move today…

From the contrarian/irony files: Surely this is a sign that the IPO market is about to take off - IPO.com Web Site Closes.