Given the recent shakiness of the market, including internet IPO's (Take a look at this one that came out today for $11, Quotesmith), I'd avoid it ...

Interesting, I just got the message again from our friend at MyPoints starting with "If you have not yet responded to my first email, this reminder outlines the steps to take if you choose to participate in the MyPoints Directed Shares Program. You will need to mail your account application by FRIDAY, AUGUST 6, 1999, to be eligible."

Looks like they're starting to get scared ... I would not be surprised if they decided to shelve this IPO until the market improves. The internet IPO thing is very cyclical, and this is not the first time the market has run cold like this, and when it happens, you'll often see companies suddenly decide not to go public and wait for the market to heat up again.

Besides, MyPoints will need all the help it can get, because I just don't see it as that great of an investment anyway!