Just like opening day at the ballpark, investing in new IPOs holds the potential for shining promise and crushing disappointment. If you simply can't bear to simply cheer on your favorites from the sidelines, at least be careful about investing in this league. Many new issues swing for the fences during their first trading days, only to slump once marketing hype has given way to mundane earnings reports.

Don't commit an error by stocking your entire portfolio with rookies. Allocate just a small percentage of your risk capital to IPOs. Scout your potential phenoms carefully, and be choosy about composing your own rotisserie league. Investing with an eye for a season extending long beyond opening day will reward you with quality players capable of staying in the game. With that in mind, we offer our Foolish scouting report of the latest IPOs.

Last week's games
No games were played in the past two weeks.

On deck
Only one major IPO is slated for the coming week:

New Oriental Education & Technology

  • Proposed ticker: NYSE: EDU
  • Industry: Chinese educational services provider
  • Proposed deal terms: $11-$13 per American depositary share; 7.5 million shares
  • Lead managers: Credit Suisse, Goldman Sachs, and Piper Jaffray
  • Filed: Aug. 22

Game of the week
The post-Labor Day season will get off to an early start with the debut of New Oriental Education. The offering is expected to begin trading on Thursday.

The China-based educational provider will be only the second Chinese company going public here so far this year. The other, wireless provider China GrenTech, has not fared so well, currently down 45.8% from its offering price. New Oriental Education may benefit from increased focus, since it's the only IPO coming to bat this week, but many Wall Street types may be slow to pull the trigger after straggling back from vacation.

Looking beyond this week, a backlog of about 150 filed offerings worth approximately $24 billion awaits. The season will still take another two weeks or so before things swing into high gear. While the IPO market has not been a stellar performer so far this year, and many deals have been withdrawn or postponed, performance may improve under better conditions. Stabilizing oil prices and a kinder outlook for stocks in general, in which market participants believe that the Fed may be taking a time-out in its rate-hiking campaign, can make the environment more conducive to new offerings.

Keep your eye on the ball as this half of the season gets under way!

Warming up in the bullpen
CommVault, a data management software provider, announced proposed deal terms of 11.1 million shares, offered at $12.50-$14.50 per share. The lead managers are Credit Suisse and Goldman Sachs.

DivX, a media software provider, announced proposed deal terms of 9.1 million shares, offered at $12-$14 per share. The lead manager is JPMorgan Chase.

Omni Financial Services, a bank holding company, announced proposed deal terms of 3 million shares, offered at $10-$12 per share. The lead managers are Sandler O'Neill and Keefe, Bruyette & Woods.

Porter Bancorp, a regional bank holding company, announced proposed deal terms of 1.25 million shares and 0.3 million insider shares, offered at $23-$25 per share. The lead managers, again, are Sandler O'Neill and Keefe, Bruyette & Woods.

Riverbed Technology, a computer networking technology firm, announced proposed deal terms of 8.4 million shares, offered at $7-$8.50 per share. The lead managers are Goldman Sachs, Citigroup, Deutsche Bank, and Thomas Weisel.

Sent down to the minors
No other companies announced postponements of their offerings.

Minor-league developments
Get ready, get set . not yet! The latest filings announced during the last two weeks include:

Heelys

  • Proposed ticker: Nasdaq: HLYS
  • Industry: Footwear manufacturer
  • Proposed deal terms: Not yet determined
  • Lead managers: Bear Stearns and Wachovia
  • Filed: Sept. 1

Photowatt Technologies

  • Proposed ticker: Nasdaq: PHWT
  • Industry: Solar power cell manufacturer
  • Proposed deal terms: Not yet determined
  • Lead managers: BMO Capital Markets and UBS
  • Filed: Sept. 1

Physicians Formula Holdings

  • Proposed ticker: Nasdaq: PHYS
  • Industry: Cosmetics manufacturer
  • Proposed deal terms: Not yet determined
  • Lead managers: Deutsche Bank and Citigroup
  • Filed: Aug. 25

WSB Financial Group

  • Proposed ticker: Nasdaq: WSFG
  • Industry: Bank holding company
  • Proposed deal terms: Not yet determined
  • Lead managers: D.A. Davidson
  • Filed: Aug. 31

Disabled list
No companies announced postponements of their offerings during the last two weeks.

Current champions
Meet our current 2006 champs. Among companies that went public this calendar year, these firms' percentage returns from their offer prices to last week's closing price rank them as the top five players:

Company

Ticker

Return

Description

IPO Date

Chipotle Mexican Grill

(NASDAQ:CMG)

124.3%

Mexican restaurant operator

1/25/06

Omrix Biopharmaceuticals

(NASDAQ:OMRI)

71.9%

Medical products

4/21/06

CTC Media

(NASDAQ:CTCM)

64.1%

Russian television network operator

6/1/06

Pacific Airport Group

(NYSE:PAC)

61.7%

Mexican airport operator

2/24/06

Houston Wire & Cable

(NASDAQ:HWCC)

59.9%

Wire and cable distributor

6/15/06

Current benchwarmers
Now meet our current 2006 benchwarmers -- that's nicer to say than "losers," isn't it? Among companies that went public this calendar year, these firms' percentage returns from their offer prices to last week's closing price rank them as the bottom five players:

Company

Ticker

Return

Description

IPO Date

Traffic.com

(NASDAQ:TRFC)

(62.1%)

Traffic information provider

1/25/06

SGX Pharmaceuticals

(NASDAQ:SGXP)

(59.2%)

Biotech

2/1/06

Digital Music Group

(NASDAQ:DMGI)

(52.8%)

Digital music provider

2/2/06

Acorda Therapeutics

(NASDAQ:ACOR)

(51.3%)

Biotech

2/10/06

Cardica

(NASDAQ:CRDC)

(51%)

Medical device maker

6/15/06

Groupies & fan clubs
If you don't want to declare your loyalties for specific players, but still want to enjoy the action, consider subscribing to an IPO-focused mutual fund or exchange-traded fund. Of course, do your scouting homework here, too, and make sure you read their prospectuses before buying season tickets.

Last week, the First Trust IPOX 100 (AMEX:FPX), an ETF, rose 2.8%, edging out the IPO Plus Aftermarket (FUND:IPOSX), a mutual fund, which gained 1%. The Russell 2000 fared even better, rising 3.2%, while the Nasdaq advanced 2.5%.

Keep reading the Fool to see how your favorite players perform as they mature!

We're publicly offering further Foolishness:

Sources: Renaissance Capital's IPOhome.com, SEC filings, Reuters.

Fool contributor S.J. Caplan roots for the Cleveland Indians when her husband is watching, and for the Boston Red Sox when he leaves the room. She holds no financial position in any firms or funds mentioned here. JPMorgan Chase is a Motley Fool Income Investor pick . The Fool has a disclosure policy.