The only way you will be able to get in on this IPO at a good price is if you wait. Patiently wait until it starts trading and then throw in a MARKET ORDER. Yep. Thats what I said. A MARKET ORDER. Right from the first minute of trading. There will be so much volume that limit orders will be rushed by in seconds. HOWEVER, you must know this. There could be a variety of things that happen. Lets say the price opens 20 dollars higher and then starts to recede the entire day. Lets say by a few points. Anything can happen on the first day of the IPO. The price will most likely fall back in a few days or weeks. If your getting in on the first day then you need to throw a market order in when it first starts trading. That will be how to get the best price as it goes into the up the hill climb. The risk is that it will pullback and snowball downhill the rest of the day. It will still close up according to the financial websites, but it will close down for you if the price you get is bad.
Let me ask you people. Was the EFUT or MA ipo this hyped. My hands are twiching everytime I think of NYMEX.....It is my gold mine....I can't freaking wait until it comes out.....Plus look at ice, ise, cme, ndaq, nyx and how good they did on the ipo.....there is no way that nmx won't be the same story. PS I really, really hate Jim Cramer.....if I had a chance to fight him in UFC or in any other combat sport......I would so destroy him......Him giving away my well-known secret, its the last straw
Nymex Boosts IPO Size, Price Amid Robust Demand for Stock By MATT CHAMBERS November 15, 2006; Page C6 Highlighting surging demand for commodities-exchange stocks, Nymex Holdings Inc. boosted its initial public offering value 19%, a move that helped send the stock of its main rival, IntercontinentalExchange Inc., to an all-time high. Nymex, which owns the 134-year-old New York Mercantile Exchange, increased both its expected IPO price range and the number of shares on offer. The price increase underscores the clamor for Nymex shares in an offering that could raise $370.5 million, up from a previous estimate of $312 million. Pricing of the IPO is due tomorrow, with trading expected to start on the New York Stock Exchange the day after. Nymex, in a Securities and Exchange Commission filing, said it expects to get between $52 and $57 a share in its IPO, up from the previous range of $48 to $52. It also is offering 500,000 extra shares, bringing the total to 6.5 million. Nymex will sell 6% of the company in the IPO. "The amount of shares that are added and the price increase will do nothing to quell the demand for this IPO," said David Menlow, president of research advisers IPOFinancial.com. "I don't expect it will stay at its opening price," he said. The energy exchange's float has been driven by both a surge in consolidation and popularity of exchange stocks, and growing interest in energy trading by funds. Analysts have been quick to speculate about potential bidders for Nymex, with Chicago Mercantile Exchange Holdings Inc.; NYSE Group Inc., parent of the New York Stock Exchange; and ICE having been named in reports. Shares of ICE, an electronic-energy exchange, rose to an intraday record of $97.56, before closing at an all-time high of $96.55, up 9.1%, or $8.05, in 4 p.m. New York Stock Exchange composite trading. Analysts said expectations surrounding the float of Nymex, from which ICE recently wrested the title of world's biggest crude-oil-futures exchange by volume, pushed the Atlanta exchange higher. "People are using ICE somewhat as a proxy of Nymex," and expect ICE stock to run higher if Nymex gets off to a good start Friday, said Mr. Menlow. ICE is nearly four times its $26-a-share initial public offering a year ago. The Chicago Board of Trade's parent, CBOT Holdings Inc., has almost tripled its $54 debut in the same period. Chicago Mercantile's shares are more than 14 times their IPO price of $35.
If you want to buy it at the open, why not use a 'market on open' order type? There'll be pretty heavy slippage with your 'market order as soon as it starts trading' idea. BTW, not every hotly anticipated IPO goes straight up from the open. Look at THI earlier this year, lots of eager buyers got roasted on that one.
Mastercard was priced at a depressed time in the market and was not overhyped. In fact, there were articles that came out on cnnfn.com stating what a bad investment it was due to lawsuit potentials. Those lawsuits are still there by the way. The "discovery" process is beginning sometime in 2007 for the American Express lawsuit and you can bet that AMEX isnt going to let Mastercard off the hook easy. This might be a good short in 2007. The potential for disaster buying an ipo on the first day is great. Some IPOs go up HIGH while others sink. It took a year for NYX and ICE to get where they are today. What could it hurt waiting a few days or weeks to get in? Lets say you miss out on some appreciation. If its so good, then there will be appreciation later on. Since so many people are eagerly waiting for this one to come out. I surmise it might open very high and then sink later on in the day or week. Lets get back to the Mastercard example. It took months for it to get where it is today. There was plenty of time to get in on it in the 40s, 50s and 60s. You dont need to put yourself at risk just to get the lowest possible price.
I agree. There is too much giddiness over NMX for me. I see too much risk of an incredible open, and then who knows...
I differ. So far most of the news has been positive about NMX, so I expect a pre open jump in price and I still consider buying it at market price just because of all the hype. On a value basis it does not make any sense how high these exchanges are going for, but if this is the new market standard, ok . Imagine when Visa goes public, its almost like Baidu all over again almost, how sad, . While on the topic on IPO, is there a certain place where you can get exact information on the day the ipo goes public and time, rather then expected day or time? Thanks.