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Wednesday, July 20, 2011

VMW

VMW is about the only "cloud computing" stock that did not collapse today (in actuality, it is a software developer that to my knowledge has nothing to do with cloud computing, but if Cramer calls it one, then by God, that's what it is). It did, however, form the double dreaded red candle on an earnings breakout. One thing I find interesting here is yesterday's volume. I wonder if somebody big ran this up yesterday, hoping to sucker the "dumb money" into gapping this up today. Another intersting thing here is the pivot point projection (assuming the pivot points are correct). This gapped right up to that projected target point before the big collapse.The only positive thing I can say about this is it closed just above the blue line, which is the O'neil breakout point. 

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