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.