Friday, July 9, 2010

Bookkeeping: Adding to Salesforce.com (CRM) and Akamai Technologies (AKAM)

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I doubled up on Salesforce.com (CRM) as the stock has yet to really run and should be able to move to $98 if the S&P can add to gains in the first half of next week.   This is a trading position added to the core position - I'll let it go around $98 and go back down to just the core exposure of 1%.   $98 would be about 8% from here so any move over $96 would be acceptable for a quick in and out.   A good report by Intel (INTC) Tuesday night would help the whole tech space.



Akamai Technologies (AKAM) - same general theme, looking to see if we can get a quick move to $46. (about a 6% move from here)  Added a 2.2% allocation to my small 0.4% that was sitting out there.



These are your prototypical high beta, hedge fund dominated stocks... as long risk is "on" they should do fine.  Until risk is "off" of course.

I added more "TNA" (3% allocation on top of the earlier 4%) as well here since I like the "action" in the S&P 500.  Barring any strange moves by the silicon ("011010011100") in the closing hour we should close firmly in the upper subrange of 1070 to 1100.  The lack of "give back" the past 2 days, after the big move earlier this week is a net positive.  Larry Summers willing, we get one of those traditional gap up M&A, Mutual Fund, China Rocks, Magical Mondays.

(EDIT 3:30 PM - reader makes a good point in comments section that on the simple moving average S&P 1076 is a small form of resistance aka the 20 day moving average.  I tend to focus on exponential moving averages so sometimes forget to check the other series.  Does not change the larger theme that S&P 1070 is holding, which is all that matters to me; 1070 has been a massive pivot point for over 2 months now.)

Long all names mentioned except Intel in fund; no personal position


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