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VMWare And NetApp Look Weak At The Start



July 07, 2011 – Comments (0) | RELATED TICKERS: VMW , NTAP , QID

This morning, the major stock indexes are surging higher. There are two leading tech stocks that are not participating in today's early morning rally, they are VMWare Inc.(NYSE:VMW) and NetApp Inc.(NASDAQ:NTAP).

NetApp Inc. is trading lower this morning by 0.27 cents to 453.25 a share. Traders can watch for short term intra-day support at $52.80 level. This is where the stock could see a small bounce intra-day.

VMWare Inc. is another leading tech stock that is trading lower by $1.12 to $102.81 a share. Trader can look for short term intra-day support around the $102.00 area. The stock could see a small bounce from this level.

Traders must remember that these stocks are weak in a strong market. This tells us that the relative strength is poor on these names and the intra-day bounces may not last very long.

Nicholas Santiago

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