SSS - Thoughts on NTAP

Published : June 30 2011 at 12:46 ET
There is a bit of humor in the fact that NTAP was acting very weak earlier this morning and then suddenly sprang to the upside following our SSS report when they allegedly raised guidance at their analysts' day presentation. While the raised guidance doesn't look all that impressive, the bottom line is that any short position was quickly stopped out at the 65-day exponential or 50-day moving averages, depending on which one was being used as a stop. Our preference was to use the 50-day at 51.84 today getting us out about 2% above our original entry. Just stick to stops on any short positions, and wait to see how the general market pans out. If you are stopped out you are stopped out, end of story.

This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2016 Virtue of Selfish Investing, LLC. All rights reserved.