Visa IPO - V On Tap

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The Visa IPO, trading under stock symbol V on the NYSE, will be on my screen today as one to trade. Pricing at the high of it’s range, it’s sure to have the attention of traders today.

“Overcoming the jitters that have battered many of the lenders that issue its cards, Visa Inc. sold 406 million shares at $44 apiece late Tuesday to raise nearly $18 billion and complete the most lucrative initial public offering in U.S. history.

The price topped the range of $37 to $42 per share that Visa set three weeks ago, reflecting high demand to own a piece of a company that’s promising earnings growth of 20 percent despite a credit crunch that’s choking the U.S. economy.”

The great benefit of trading IPO’s is the fact they have no overhead, or sellers looming above. The trading patterns have a chance to take shape. Watch for intraday new highs… I like to buy over the 5-minute high. Also watch for a higher high after the first pullback to enter.

Search for “IPO” here to see how I’ve traded ‘em in the past.