What should one expect watching Visa on its first public day?  What actual shares will be there for sale?  People that were able to buy the IPO at the end of the prior day are not supposed to sell for 30 days.  Do they just sell anyway, or do the shares come from somewhere else? 

Given the buzz around this IPO it would seem likley that there will be heaps of buy orders with no matching sell orders and the price would likley go up quickly.     Im trying to avoid sitting there watching the ticker with analysis paralisis as it rips up.   

Would a market order entered before the open execute at the ipo price on the open? 

Im probably looking more for a trade than an investment.  Not that Im opposed to V as a n investment but I would really like to catch some sort of pop to feel like I nailed something.

Well, Angst, of course you know what happened on the opening minute by now, but it's interesting to note that I put in a buy order at 61.1, slightly higher than the 60 dollars per share it was supposed to open at to make sure I got it. 

So they delayed the open until they could decide where to place the first trade.  Supposedly it opened at over 65 and swung between 69 and 56 in the first minute.

I'm still scratching my head at how I got it at 59.50; maybe I didn't get my trade in on time, or it wasn't executed right at the open.  I'm guessing a large block sold at 59.50 by someone who wanted to make sure they sold it in case it started to drop if it opened at 60, so a boatload of orders in that area sold at that price.

Anyway, it look's like it would be better to not buy your typical IPO right at the open (if it's priced high to begin with anyway)...thas' probly my take-away on this.  But we'll see if this thing has legs on Thursday morning.....  Just interested, though, did you buy this any time on opening day?

I ended up not buying any.  Now almost a week after and  I still havent. So far I haven't felt like Im missing anything.   The chart is interesting to see.  As that ticker was dropping sharp for the first 30 minutes after the open and I didn't see anything that compelled me to jump in.   One would have done well buying there but you don't know that its the bottom until your past it right. 

It sure looks like it is starting to trade in a much narrower intra day range.  Im going to keep it on my "big down day wishlist" watchlist. 

 

personaly i think im going to wait until it goes below 60 or after 30 days when most are allowed to sell their shares

I played into the hype, and bought 50 shares at just a little under $62.  I shouldn't complain; its made a little bit of money.  I have money to spend, but I am waiting for Visa or Agrium to dip into the $50s.  Which ever one goes there first; thats what I am buying.

Im thinking like you danheil that having missed the open that might as well wait till after the 30 day mark to see if all the people that were able to buy before the open are going to sell at their first opportunity after their 30day wait period is up. 

I didnt see that selloff looking back on Mastercards historical chart but this Visa IPO had some massive hype and Im inclined to think that many people are going to be inclined to think about trading fast and not long term ( Im right there with them by the way). 

Normjaso don't forget to consider putting some sort of stop limit on.  You may wake up one morning just after the 30 day mark and just after a lot of people opened their mutual fund statements and the market starts looking like January again only faster

My new investing philosopy that Ive adopted since ive been trading for $0  at zecco is tight stops on everything.   I may end up getting tagged as a day trader sooner rather than later (one round trip this week) but I havent lost money yet!

Visa has been trading sideways for few days now.  Do you guys think Visa might go back down to the 50s level?

Im thinking  with some patience there will be a good entry point later.  Im going to set an alert for myself in my tracking software for under 60. 

This confounded market has zigged with every zag I make though.  All of a sudden the market is bullish now that Im 90% sidelined cash and even bought some of the short S+P ETF.    Maybee I should start posting my trades and everyone can profit by doing the opposite of whatever I do.   :)

I'm on board for selling this before the 1st 30 days is up.  I'd like to know more on the wait period rule they have for all the IPO buyers on this if anyone knows.  Yesterday, Friday, 4/4/08, this tested the 65 dollar mark and if it does that again I think I'll get out and wait a few weeks to see if it dives like I suspect it will.

I opened a partial position at $58 on opening day.  This was 3 bucks higher than my buy in point of $55 as I did not want to miss the boat.  I'll add to my position on dips below $55 as long as the valuations hold up.

silly question:   I purchased V opening day, but not right at opening.  Do I have to wait 30 days to sell? 

You shouldn't have to wait.  You should be able to sell the same day that you bought.

I bought on the first day.  It is still rising, so I am not going to sell at all.  It is a massive company that don't hold consumer loans.  It makes it's money on the millions and millions of transactions that happen everyday around the globe.