Friday, August 20, 2010

AKAM -- Sold

Akamai Technologies is strong today on buyout rumors so I sold at $47.42 per share after buying at $40 just 11 days ago for a nice $7+ profit.  I don't know if the buyout rumors will come true or not so I might be leaving some money on the table, but AKAM hit my profit target and then some so I'm happy to lock in profits here.  The market is down and if the buyout rumors don't materialize, the stock may come back down with the market so this seems like a good spot to take profits.

This is a 17.5% profit in under two weeks.  Most investors think making 15% per year is good.  Traders can repeat this performance several times per year and make excellent profits over time.