Global Cash Access Holdings ipo

I usually avoid ipo's because it's simply risky. Earlier this week, I placed an order for some ipo shares of Global Cash Access Holdings (GCA). The expected pricing range was $12-14 and tonight the shares were priced at $14, the high end of the range. That's a good sign. I won't know until tomorrow morning if I was allocated any shares. Hopefully I'll receive a small allocation, but not all that I requested. In a well received deal, you'll only receive a small fraction of the total shares requested. For example if you place a conditional offer for 500 shares, they may give you only 100 shares. If you receive the entire allocation of the shares requested then you're in big trouble. Sell right at the open. That's a sign of weak demand. So be careful with ipo's. Here's one of my favorite sites for ipo research, IPO Home, click here.

With all this pessimism brewing out there, I'm actually starting to get a bit more bullish. We'll see...