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Into that breach stepped Workday. Even though the pricing was richly valued, the need for a high growth entry in a manager's portfolio drove that opening price. The institutions got so little on the deal that they figured it was better to pay up to get a full position and that required this crazy aftermarket buying that gives these customers an average basis that while above the actual IPO pricing is certainly below where it is ultimately opened.
Isn't Tech Supposed to Rock Now? Posted at 2:27 p.m. EDT on Wednesday, Oct. 10 Whatever happened to seasonality? Whatever happened to the trading pattern that has made you money for ages? I am talking about the fourth-quarter tech trade, the one that allows you to take advantage of all of the tech that enterprise buys and the consumer buys. You know, I don't like trades based on pure calendar superstition like "sell in May and go away," or "sell in October because we have crashed in October," or "buy in an election year because we've been up in an election year."