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I'm looking back at stocks whose lockups have expired over the last three weeks and I cannot make any sense out of the price action in these names. By themselves, the charts are telling: each one a story of weakness or strength. As a group, however, there is no discernable common thread or direction. In short, I'm stumped.

When I look at this list, what I remember was having, at the time, the feeling that many of these were iffy IPOs, and some were absolute garbage. I don't need to name names, just pull up a few quotes and take note of how many of these are trading below $5 a share. Are these names going lower? Probably not.

I know that I've told you nothing that you can use. Sometimes it's just like that. Sometimes the only things that will make a situation clearer are time and patience. I've got plenty of both.

Let's take a look:

* Lockup expirations may be extended or modified by a pending secondary stock offering.

Ben Holmes is the founder of

ipoPros.com , a Boulder, Colo.-based research boutique (now a wholly-owned subsidiary of TheStreet.com) specializing in the analysis of equity syndicate offerings. This column is not meant as investment advice; it is instead meant to provide insight into the methods of new and secondary offerings. Neither Holmes nor his firm has entered indications of interest in any of the companies discussed in this column. Holmes' This Week in IPOs column appears Sundays, This Week's Secondaries appears Tuesdays, Upcoming Lockup Expirations appears Wednesdays and The Quiet Period appears on Fridays. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Holmes appreciates your feedback at