The whole market is swept up in the Alibaba CNBC hype-fest at the moment.
The latest chatter on the opening price is $88-$94 — which is a cool 38% premium at the top end for those lucky enough to get the $68 IPO.
This has the potential to be an incredible intraday pump and dump. If it opens above $90, a $100 trade today is virtually in the bag.
With the fast money focused on this, there is a risk that broader risk takes a dip.
