Monday, July 31, 2006

Trade of the Day - Akamai Technologies NASDAQ (AKAM) Again

As suggested in this morning's watch list, AKAM was a buy on a break of its pivot above $37.40. I entered the trade on a high volume break and took my usual 50% profit on the 10:00 reversal. Not surprisingly, under today's market conditions, AKAM swooned all the back to test Friday's high. Once it appeared to have successfully tested and bounced, I re-entered the trade to my original share size and closed the entire position into the close. Sweet! P.S. My near-term target is still $42.50.

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