Adding a little Akamai Technologies (AKAM)

I haven't added to this position since opening an initial spot on day 1 of the fund. While the technical picture is not very nice; the stock is well below the 50 day moving average (just above $39 and falling by the day at a 45 degree angle) the selling looks close to exhausted in the name.

While a sharp pullback in the market could push it down, volume the past few days has dried up. While I don't expect a rocket ship ride back up, the stock is priced at a decent value now.

EPS est 07: $1.27
EPS est 08: $1.67
(31% growth)

Trading @ $32 this yields a forward PE on 07 of 25. Not too shabby. If the stock remains range bound between $28-$32 for next month it would not surprise me, but buying here rather than in the upper $40s where it was a month ago seems like a fair bet for those with a longer term horizon (i.e. longer than 4-6 weeks). I will most likely become more aggressive loading into this name ahead of the next earnings report, now that expectations have become so low on the stock.

No position