The hype around China is seductive, especially when we're mired in a recession. Any ray of hope is worth a few minutes of our time. Even a turning economy isn't enough ... it hasn't turned yet! So, we have the promise of China.

Well, China is about to learn about the downside of capitalism. A bear market could be threatening the country, driving home the notion that free markets (even if only slightly free) involve some risk, and proving to the American public that inside every sure thing is a hefty dose of "flavor of the month." The bears are circling Shanghai, even as the U.S. equity market appears to be coming back.

Wall Street's equity market offers a wide variety of deals this week, including 6 IPOs and 6 Secondaries. Those deals tentatively scheduled to price include:

IPOs:

Possible

Response Genetics (RGDX), a 3M-share IPO for this genetic lab equipment company. Maxim Group is the lead manager. Filing range: $7.00-$8.00.

Tuesday

FBR Capital Markets (FBCM), a 12.1M-share IPO for this investment bank. Freidman Billings Ramsey and Lehman Brothers are the lead managers. Filing range: $16.00-$18.00.

Wednesday

Starent Networks (STAR), a 10.535M-share IPO for this wireless multimedia networks company. Goldman Sachs and Lehman Brothers are the lead managers. Filing range: $9.00-$11.00.

Wall Street's equity market shifts into summer mode -- historically a lighter season -- with just three IPOs on the docket this week.

Those deals tentatively scheduled to price include:

IPOs:

Thursday

Amicus Therapeutics (FOLD), a 5M-share IPO for this gene-based medicine company. Morgan Stanley and Merrill Lynch are the lead managers. Filing range: $14.00-$16.00.

Friday

Jazz Pharmaceuticals (JAZZ), a 6M-share IPO for this pharmaceutical company. Morgan Stanley and Lehman Brothers are the lead managers. Filing range: $24.00-$26.00.

LDK Solar (LDK), a 17.384M-share IPO for this solar cells company. Morgan Stanley and UBS Investment are the lead managers. Filing range: $25.00-$27.00.

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