We haven't seen as many of those break through deals the past two weeks, and next week is going to be more of the same. But there's a lot more strength in the biotech market than the last two week's run on the sector would indicate.
They have a phenomenal growth rate, attractive outlook, and an extraordinary cash burn. They are a momentum play at a time when the market is very skeptical about momentum plays.
The market is just washed out right now. There's no rhyme or reason to the valuations.
It's more than just networking. What they are doing is building Linux appliances, which has real cost-saving (potential) for Web site operators. They are looking to attack the market early and hard. That was the Netscape strategy and the Amazon.com strategy.
This always happens when the market gets flooded. I'm afraid a lot of these deals are getting lost in the shuffle and this is what is happening with Western.
China is viewed and hyped in general as being the greatest and most gigantic market in the world because of demographics and population.
To pick a fiber optic company in the IPO market now is a safe bet.
What's going on is the market running out of gas at the end of the week.