Saturday, November 18, 2006


Well, I think all eyes were on the debut of Nymex today. And from the look of the intraday chart, it looks like the first 10-15 min. of its trading debut looked like a good scalp. But I just plain forgot to put it into my watchlist from the previous night, so i missed out on the action. Turns out it would have been a even better trade than the call option daytrade that I made on ICE.
I initially thought that NMX's IPO helped to lift the whole sector. However, the charts suggest that ICE's big short covering rally today is due to something other than NMX's IPO, though I'm not sure what that something might be.
I also wonder if today's NMX IPO might mark the peak of the popularity with these publicly traded exchanges.


Cal said...

I get the feeling NMX will pull back into a more moderate range below or around $115, then it will start the train heading higher, these stocks are very profitable and deserve a good multiple. It will stablize eventually, look at all the other exchange IPO's.

Phileo said...

Hi Cal,

I thought NMX was shortable but after reading the comments in your post, it seems like that is not the case. So, it is not such a good idea of mine for this coming week.
Thanks for dropping by to read my blog !!