A whopping five IPOs priced last week, which confirms what we've already come to accept: The IPO market is slowing down. What was remarkable in an otherwise unremarkable week was the performance of these few deals. First-day performances for the batch averaged a sweet 30.8% based on the closing price of these stocks. This had me a little perplexed, as deal performance had been tracking deal flow almost lock-step for the last few weeks. I leaned back in my chair and rubbed a few synapses together until I realized that there are still going to be a certain number of accounts that will be in buying the deals.

Consider that some accounts

by design

must buy the deals. There are hedge funds that traffic only in new issues, mutual funds that are based entirely on holding IPO shares and countless other syndicate junkies that, no matter what, must keep their hands in the game. There are also those investors who haven't yet realized that things are winding down. God bless 'em all.

This week, I'm showing seven items ready to price. I suspect a few of them will get put off, but given the willingness of buyers to step in and bid up last week's offerings, I'd guess that the majority will get done.

There's not much in the way of quality this week, and there really is no theme to the deals in the queue. A couple of biotechs, an Internet deal or two and some manufacturing names round out the list. None of them have me smiling too much, and if I had to make a prediction I'd say that this week will pass as generally uneventful.

Having said all of that, let's take a peek: