Kaminsky's Call: Crucial Market Test is IPO Calendar, not Earnings
Morgan Stanley, Vice Chairman
A crucial test for the market looms this week, but it's not earnings. It's the IPO calendar.
And my "Call-to-Action" is to watch it closely, because it could be the key to the market's next move.
As one of my mentors, the great Marc Howard, told me, there is fundamental analysis, and then there is the equally important “intangible analysis,” which can be roughly described as market "tells"—subtle but important signs that can indicate a stock's next move; and there are few things more important than a healthy IPO market.
Successful IPOs instill confidence in investors and CEOs alike. It's a sign that new capital is looking to enter the market.
And in terms of this week, there are three names that will provide a crucial test for stocks: Qlik Technologies, Smart Technologies, and RealD.
Smart Technologies will be the first to price on July 14th. This software developer has already seen its price range increase to $16.00-$18.00, typically a good sign.
The other two to watch will price on July 15th; Qlik Technologies and RealD. Qlik provides business intelligence software. RealD is a global insurer.
What these companies do, however, is less important than how they do in their respective initial public offerings. Because if they are all successful, everyone could win, whether you own them or not.
- CNBC's IPO Calendar
- CNBC's Earnings Central
"The Strategy Session," hosted by David Faber and Gary Kaminsky, airs weekdays at Noon ET on CNBC.
Gary Kaminsky does not hold any equity positions.
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