NetApp Inc. (NTAP) is among a list of companies set to report results this week as the second-quarter earnings season winds down. NetApp also will be bumped out of the Nasdaq 100 and the Nasdaq 100 equal weighted index effective here on Monday, Aug. 24. Let's check out the charts of NTAP to see how they are fairing.
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It feels like these companies are casting a wide net, but it makes sense to file at the beginning of this mushroom mania.
Short selling is a powerful tool, but it is not just the inverse of going long and requires a very different mindset to do it effectively.
I believe the markets are headed lower - probably not in a straight line or as steep as the last few days, but in a saw tooth fashion lower.
It is premature to declare that the worst is over, but the intensity of the selling will go a long way toward helping a bottom to form.