While buysiders suggest the overall quality of the IPO queue has declined, they still see enough diamonds in the rough and expect sufficient generalist-led appetite for deals to keep the window propped open to the customary post-Thanksgiving break.

Bankers say behind the scenes IPO activity, such as testing the waters meetings and confidential filings, is as brisk as ever. October has been a busy month as four deals have priced and 11 new S-1 filings have been disclosed, bringing the number of companies seeking a listing to at least 23 (see "IPO Queue," A3).