Tuesday, October 24, 2006

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

I took a low risk entry on AKAM after it successfully retested breakout support and I held on until the close. A successful retest of support is often an indication that the stock has digested the break and is ready to move higher.

I took a low risk, long entry on NVIDIA Corporation (NASDAQ: NVDA) and it moved against me shortly after I got in. I had set a strategic stop just pennies below the low of the sixth bar hammer. Luckily, I did not get stopped out because the stock reversed and rallied on high volume. My position was stopped out just above $32.60 for a $0.60 gain.

No comments: