The stock immediately plummeted, which then produced a plethora of stories about how Network Appliance had missed the quarter, guided less than expected or somehow botched its execution.

Those stories were all false. They were written to give a reason for the downturn when the only reason was that we were in a sell-sell-sell period, meaning that no matter what a company said, if it was on the Nazz, the stock was going down.

I own the stock for Action Alerts PLUS and was mortified by the decline. Worse, I could do nothing because my trading restrictions had been triggered when someone asked me about it in one of my venues not long before the plunge.

At the time, I told Action Alerts PLUS subscribers that there was nothing wrong and it seemed like a great buying opportunity. I could tell that the market dismissed my thinking, I believe because the press, abetted by the decline, "confirmed" the so-called disappointing quarter.

Now the stock is above where it was when it reported.

I suspect that many companies that reported so-called disappointing quarters or had "problems," like Qualcomm (QCOM - commentary - Cramer's Take), for instance, or even like a Conexant (CNXT - commentary - Cramer's Take), can now ramp.

The reason I suggest all this is because we have seen this pattern time and time again. At my old hedge fund I called it "sell mode," as in "every news event, everything that happens, is going to be sold." I used to compile a list of all the stocks that were getting treated like Network Appliance just did, and then, when sell mode ended -- usually because of the technical factors I am describing -- you had to be nimble and buy the Network Appliances because you remembered the truth.

Now, Network Appliance, because it actually delivered a great quarter, can fulfill its promise.

Who else is in this position? What companies are doing well but got pummeled when the market was bad?

How about Citrix (CTXS - commentary - Cramer's Take), which I think will have the strongest quarter of all the tech stocks I follow? That one's ramping today, but it is down so big from where this selloff started that I think it is nowhere near done going up. I own it, I have defended it all the way down and now it is Citrix's turn.

P.S. from TheStreet.com Editor-in-Chief, Dave Morrow:
It's always been my opinion that it pays to have more -- not fewer -- expert market views and analyses when you're making investing or trading decisions. That's why I recommend you take advantage of our free trial offer to TheStreet.com's RealMoney premium Web site, where you'll get in-depth commentary and money-making strategies from over 50 Wall Street pros, including Jim Cramer. Take my advice -- try it now.

At the time of publication, Cramer was long Network Appliance, Qualcomm and Citrix Systems.

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