Weird week, last. Fifteen deals priced and traded to an average first-day gain of 43.61%. This number would have been much higher without factoring in the three biotechs that came to market. The average day-one performance for these three deals was -4.78%. In all fairness, the negative position of that number comes from one deal,

Lexicon Genetics


, which finished its first day in the hole, down 14.77%. The other two were flat. It's official, bio-tech IPOs are dead.

The heat last week came from technology -- networking, telecom, semiconductors and, my current favorite, software. My firm belief is that we will continue to see performance from these sectors in the months ahead. In the meantime, flashes of heat, like the one we saw in biotechs, will continue to appear and likely end as quickly as they began. My advice? Stick to the proven groups.

Let's have a look: