Wednesday, August 09, 2006

Trade of the Day - Akamai Technologies Inc. NASDAQ (AKAM)

Despite the bullish open, the market had very little momentum, so the best trading opportunities were on pullbacks to support. AKAM gapped up slightly on the open and pulled back towards yesterday's low, made a higher low and reversed. This my my cue to get long for a test of recent resistance. I sold into strength at $39.50.

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