Why The RealLifeTrading.com CEO Is Considering A Short Position In NetApp

Newsome, the CEO of RealLifeTrading.com, discussed trading strategies on

following its earnings report in which the company's earnings per share and revenue fell short of expectations. "The fact that [NetApp] broke $33 [per share] on the daily chart, I'll be looking to short this at some point," Newsome said. "Very similar to

it is a strong gap, it is ‘sloshed,' its down far. That $31 level is $4 and over 10 percent." Newsome continued he will wait before shorting before further conviction can be made that "there is really not much stopping NetApp's downside to at least $29. On a daily chart, there is nothing." Newsome continued that he has a trading strategy that is appropriate for shorting shares that have already seen noticeable downside. He said that he would enter a short trade position up to two separate times, and if neither trade proves to be profitable he won't touch the stock the rest of the day. "If I lost on NetApp the first try, I have one more shot," he said. The trading pro added that it is important "not to get emotional" because traders that are emotional "lose money every time." "No revenge trades. I just move on."