A small IPO, Wireless Ronin (RNIN), just opened for trading at $3.70. The co makes digital signs targeting specific retail and service markets. Digital signage is an electronic media viewed by a person on a video display. A common example is an electronic billboard display in an arena or other public area. Its RoninCast is a digital alternative to static signage, such as cardboard or paper. Also, its digital signs can be combined with interactive touch screens. The co has installed systems in over 200 locations since the introduction of RoninCast in Jan 2003. The co is small with a $26 mln mkt cap and has never been profitable. Revenue for the 9 mos ended Sep 30 were just $1.9 mln, but that was up 250% yr/yr. Briefing Note: RNIN is clearly a speculative name, but some traders may look at it as a long awaited secondary play on Focus Media (FMCN 66.44 -1.72), which has been a big winner. It's a bit of a stretch, but FMCN provides a similar advertising service in the China market while RNIN is in the US. There really are not any other FMCN plays, so momentum traders may want to keep it on the radar as a speculative play on any move in FMCN. This is a 4.5 mln share deal led by Feltl & Co. (IPOXX)