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Sorry about the brain cramp I must have had this am. After discussing why we should probably open our stops a bit this morning, I promptly forgot to tell you where I placed them.
But now it seems my head is functioning, so lets move along.
AKAM was indeed a tad weak this am, So I took the stops off figuring it was just "options hangover". It faded to 72.53 and then bounced to 73.20. That's still "red" by 6 cents from our entry, which doesn't much make me happy.
CTSH is also lagging the field. It didn't fall far at the open, but it too is red from where we took it and I don't much like that when the day is bright green.
I'll place the new stop on AKAM at 72.49 and hold the CTSH at 63.50.
The bigger question is... do we add here or wait and see?
Here's the thinking.
The S&P all time high close is roughly 2117. We're sitting at 2113. I suspect it might take a bit of "work" to get through that old high if indeed they are going to try. So we might bee a bit more pushing and pulling before the final decision is made. With that in mind, I think it wisest to be patient here, and wait to see if they can pull it off or not.
names that are looking interesting if the market does move up are...
WFC over 56.30
TROW over 84.40
So lets keep an eye on this and see if they have the momentum to push us up and over into new high territory or if resistance holds. We'll chat after the lunch crowd/European close takes place.