3SOF

Not a bad day for AKAM, given the fact that it was called higher, then ONE MINUTE before the Opening Bell, an analyst on CNBC said that it was fully valued, and not to buy it.

Curses!   

AKAM still opened higher, but quickly tanked $1.00, to 48.59, then recovered and closed a little in the green.  It needs to go up and knock out the top of the Bull Flag (pattern in blue), which comes in today, December 6, at 50.79.

"AKAM" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders.      
All history on a stock pick in 1 thread is awesome.     

Thank You....and good luck with all your trades....make some $$$   

Akam looks like its ready to make a move soon.. I think AKAM can go either way.

Quote from: nullzero on December 06, 2006, 03:55:49 PM
Akam looks like its ready to make a move soon.. I think AKAM can go either way.

nullz,

I'm raising my stop on AKAM.

Quote from: Melf Elf on December 05, 2006, 04:40:51 AM
Yesterday, AKAM took out Friday's high of 49.07, and when it looked like it would close above that, I went ahead and paid 49.10 for it.

Yesterday's low was 49.09, two pennies above that Buy Pivot (and a penny below my entry), then AKAM bounced higher toward the top of the flag.

That's all that want to see of my 49.10 entry getting printed.   

If AKAM comes back down again near my entry (and yesterday's low), I'll sell with a fractional gain.

Quote from: Melf Elf on December 06, 2006, 03:29:54 AM
It needs to go up and knock out the top of the Bull Flag (pattern in blue), which comes in today, December 6, at 50.79.

Sold 20% of my AKAM at 20.78.  Gain: 3.4%


The top of the Bull Flag comes in today at 50.723, so it has broken out to the upside.  Sold some to defend against a false breakout.

I'm 80% long.  Stop on the rest is a little better than break even.

Quote from: Melf Elf on December 07, 2006, 09:43:57 AM
The top of the Bull Flag comes in today at 50.723, so it has broken out to the upside.  Sold some to defend against a false breakout.

The breakout looks good, particularly in today's down market.  100 Day Average Volume is 2.78 million.  AKAM already has traded 3.78 million is less than two hours, so the breakout likely will be on 2 times ADV.

As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):

Target #1: 52.00 IN PLAY - Top of the Bull Flag
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move

Nice play Melf you hit this one on the nail.

Quote from: Melf Elf on December 07, 2006, 09:43:57 AM
Sold 20% of my AKAM at 50.78.  Gain: 3.4%

Sold another 20% at 52.50, between Targets #1 and #2.  Gain: 6.9%

Quote from: Melf Elf on December 07, 2006, 11:26:59 AM
As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):

Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move

Target #1: 52.00 MADE this morning.

Quote from: nullzero on December 07, 2006, 11:28:52 AM
Nice play Melf you hit this one on the nail.

Thanks, Nullz. 

Quote from: Melf Elf on December 07, 2006, 11:26:59 AM

As long as the breakout holds up, we've got (refer to daily chart patterns, posted earlier this morning):

Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle MADE Dec 7
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move

Target #2: 52.93 also MADE today.  AKAM now is trading at a new 52-week high.

Kudos Melf  (and Applaud)
Nice Trade and read of the chart!!!
Happy holidays to you
Cheers Joe

Quote from: joet on December 09, 2006, 02:44:32 AM
Kudos Melf  (and Applaud)
Nice Trade and read of the chart!!!
Happy holidays to you
Cheers Joe

Thanks, Joe, and Happy Holidays to you, as well.

AKAM had spent two months, consolidating the huge gains of 2006.  When a chart is this bullish, expect patterns to be "continuation patterns," and to resolve in the direction of the dominant trend.

For shorting a stock like AKAM, it's generally much better to wait for it to break down and short there, or to short a re-test of the breakdown.

In this particular case,  the Symmetrical Triangle and The Bull Flag that I posted on the daily chart above were "nested" together within this larger Symmetrical Triangle.   A multiple pattern breakout suggests that the stock could be "packing some punch," so to speak, in the direction of the breakout.

On this upside breakout in AKAM, if the shorts didn't cotton to the idea that they were caught in a DOUBLE Bullish pattern breakout, they began to realize it when the stock printed a new high above the top of the pattern, which was 52.93.

In that type of situation, "buying begets buying."  Shorts are forced to Buy to Cover, and the breakout players also are Buyers.  That, at least in part, explains the big 12 million share day on the breakout.

BTW, I've raised the stop on my remaining 60% long position to a CLOSE back below this Symmetrical Triangle.

Quote from: Melf Elf on December 07, 2006, 01:15:31 PM

Target #1: 52.00 IN PLAY - Top of the Bull Flag - MADE Dec 7
Target #2: 52.93 IN PLAY - Top of the Symmetrical Triangle MADE Dec 7
Target #3: 56.10 IN PLAY -Bull Flag Measured Move
Target #4: 56.95 IN PLAY - Symmetrical Triangle Measured Move

Sold remaining 60% of my AKAM at 56.00.  Gain: 14.1%. Gain on the trade: 10½%

Target #3: 56.10 MADE within five cents at the high, so far, of 56.05.

Any thoughts on AKAM?  Earnings after the close on Wed, Feb 07.  It's gone crazy today.
Just looking for an earnings play.
Thanks,
Brigitte

Quote from: LuckyFish on February 05, 2007, 02:34:34 PM
Any thoughts on AKAM?

Hi, Brigitte,

There already is an AKAM folder, so I merged yours with that one.  Please do a Search before starting a new folder.  Thanks.

AKAM broke out of a Symmetrical Triangle (red arrow) on January 29, putting targets of 56.80 and 61.40 IN PLAY.

January 30 and February 1, AKAM put in a short-term Double Top at 56.78 and 56.75, near the Symmetrical Triangle high of 56.80, setting up a possible "morph" into an Ascending Triangle, with a flat top at the 56.80...56.78...56.75.

February 2, Maxim downgraded it to $55, which was similar to the downgrade that AKAM got to $50 in December, at that breakout (I forget the analyst).

On the downgrade, AKAM opened at the low of the day, and rallied.

Quote
Earnings after the close on Wed, Feb 07.  It's gone crazy today.

Today, it broke out of the Ascending Triangle on news about its involvement with the Super Bowl ads, putting 61.38 IN PLAY, very near the 61.40 target IN PLAY from the Symmetrical Triangle breakout.

Quote
Just looking for an earnings play.
Thanks,
Brigitte

AKAM closed today at 58.18.  The "logical stop" would be below the analyst downgrade low of 54.53 on Friday, so your risk would be a loss of 6.3% if you get stopped out.

Your gain if the 61.38 - 61.40 targets get MADE is 5.5%.  AKAM "could" go a higher, but there also is no guarantee that the target will get MADE.

Given that the risk is a loss of 6.3%, and the anticipated reward based on the targets IN PLAY is only 5.5%, I would pass on the trade.

Just my opinion, of course.  Good luck with whatever you decide.

Melf Elf,
Thank you for your quick reply.  You've given me plenty to think about.  I may actually end up sitting out the earnings play.   If it goes much higher after earnings, I will buy some puts.  I think that NullZero has played AKAM before as well.  The stock can move a lot,  so it makes for a great daytrading stock.
Thanks again!
Brigitte