Not sure what you mean by 450k in the hole? But with the bar set so high by FDRY and FFIV, RDWR had better show a profit on Thursday or this thing isn't going to come close to 85 for some time. The Yahoo profile showed a loss of 185k for the past 6mos. Unless they have been spending like crazy on marketing/sales, they should be able to turn a profit.
Love the sector....but I think it may have made its high for 1999 today. Having owned Inktomi (their chief competitor) on and off before...I have a hard time believing that the market cap will be sustained over the short run...if INKT is only worth 5 billion...I'd have a hard time paying double.
It will however prevent Cisco from gobbling them up. Which brings up an excellent point....RDWR has to be considered a takeover target as long as the market cap remains under a billion dollars.
Have a hunch we will see an article in barrons this weekend or next on the internet infastructure as a whole anyway....but don't be surprised if RDWR is aquired or parterners in a big way with someone before the end of the year...infact their IPO's PR statemenet suggested that they would encourage such an arrangment.
As for the weakness today, if someone was watching it on the level II perhaps they could share with us which market makers were sitting on the offer all day.
I would also note, that volume decreases dramatically when RDWR pulls back before doubling or even tripling when RDWR makes a move higher...i.e. a classic sign that the up trend is very much intact....and the stock is headed higher...in our case....ALOT HIGHER...;-)