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Tuesday, February 12, 2008

AKAM revisited

This was my real lemon call. I like the long-term story and I suggested lousy risk/reward from the level the stock was trading in front of the quarter. They beat estimates and raised the outlook.

When I laid out risk/reward on the stock, I said it was $26/$34. Well, here we are at $34. Still like the story. Think this is the big chart trouble level, though, so I have to stay negative on it here.

Unfortunate when you talk yourself into the wrong side of a story you like. It happens sometimes. I have to be more careful about that.

I stand by my earlier statements that the risk/reward stinks at $34. The stock is a sale here.

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