On Tue, Feb 29, 2000 at 10:02:15AM -0500, Joseph M. Reagle Jr. wrote:
> >>>>
> > I was pleasantly surprised to see the attached message when I
> > arrived home from new york last night, offering a chance to get
> > in on this week's Palm IPO.
> > so I guess I'm too late already. :(
>
> Ouch! Oh well, USR just doubled the IPO price anyway, so you wouldn't
> have made quite such a windfall. How much money to you have to keep in
> the Wit account? Any sense of how many of the "big IPOs" Wit clients
> had access to?

I think the minumum balance is $2000. If an IPO prices high
enough that you need more than that, they let you buy anyway and
give you three days to add the money to your account.

There haven't been many IPOs offered so far that I've been
interested in, this is the first one really. I started signing up
with them only out of interest in the upcoming IPO of Altavista.

Last night I was thinking about trying to short PALM when it
first opened and then buying it back later in the day after it
dropped a bit, but I slept in past the open. (I thought past IPOs
usually became available on the open market around 12:30pm, but
apparently this one started trading around 11:30am.)

Anyway, it would've been extremely hard to make much out of
shorting it today. It seems to have spiked up only for a few
minutes, then hovered around $100 most of the day. I probably
could've sold at $120 and then covered at $100 or so.

today's 1-day chart at:

   http://impressive.net/people/gerald/2000/03/02/palm-1-day-chart.gif

taken from:

   http://quote.yahoo.com/q?s=PALM&d=1d

--
Gerald Oskoboiny <[email protected]>
http://impressive.net/people/gerald/