Today’s Trades: STLD and AKAM

I sold all 900 shares of STLD at an average price of $39.88 for a $1577 gain (entries at $37.87 and $38.45). Currently we’ve got a long bar heading right into resistance at $40. This is a strong stock, and steel has been on fire, so I may re-enter on a break of $40 or pullback to the bottom of the price bar.

I bought 400 shares of AKAM at $55.63. This is more of a speculative play as it does not fit any of the technical entries I normally use. Every once in a while I allow myself a trade like this one, as long as I stick to my stops. The stock has generally fought off the bears and continued higher after pullbacks. It’s sitting right at the 20 day MA. My stop will be placed under the 50 day moving average, probably at $53.90.

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