Dow down 600pts on Friday, another 1,150pts today. High impact...

Dow down 600pts on Friday, another 1,150pts today. High impact on ASX felt and expected.

I think that IPO market will be fine but if drops continue only the cream of the crop will list (good for everyone generally).

Points of note (my speculation):

Tight registers: This has always been important but is crucial now
Spread: I anticipate that this will be filled by brokers and almost no shares will be placed in public hands
Lower raises: It will be harder for ordinary projects to raise $5m+
Pedigree essential: Sub $5m projects with little pedigree will get smashed if falls continue while shares are locked up during application periods.
High potential industries: Only industries with significant upside will get listed. Don't think we'll see many Shark Mitigation style listings anymore
Revenue or near-production resources become more important: Blue-sky elements will only be upside. Don't think any zero-revenues companies will have any price premium at all

Thoughts?