...Or to translate, open your pocket book because the buying frenzy has begun! Step carefully when searching for the next Alibaba. You will hear, "this is the next Alibaba" at least ten times in the next 30-60 days.
Alibaba is a huge springboard to other IPOs and stimulates buying because not everyone will hold Alibaba beyond the first few days of trading, but they will take profits or original investment off the table and let their house money stay in the stock, I would.
Here's what's interesting to me:
It opened on a Friday and smartly they waited until September and after 9/11 and before the Jewish Holidays. This shows both intelligence and respect. No joke, I can see that this was a well-organized group of bankers and the NYSE did an excellent job of fixing any order imbalances before pulling the trigger.
My compliments to the market. I know the buying interest is global, so my curiosity is how will the stock gap on Monday. After all the media opinions flood the airwaves all weekend and other markets open before the NYSE, a huge wave of buying waits for the opening. Third market orders will be pent up buying for Monday morning as well.
I foresee the frenzy to continue and a whole new stream of IPO's coming out the door to feed the demand of hungry investors! It will also open US investors to the idea of leaping back into Chinese IPO's, again reminding us of the short memories investors have. Alibaba is the big one and a hard act to follow!
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