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NTAP Looks Tired

Netapp Inc(NASDAQ:NTAP) has surged higher since August 12th when the stock was trading as low as $37.04 a share. Yesterday NTAP made a new high for the year as everyone on the street is talking about this stock being a major takeover candidate. Whether or not this is true NTAP is now a very crowded trade. When the crowd is involved rarely will the stock continue to advance and it will often go into correction mode. These days most traders and investors are looking for the next 3PAR Inc(NYSE:PAR) which was bought out by Hewlett Packard for $33.00 a share. Our motto is to just trade the chart and not follow the dreams by the sheep.