AKAM, the LTB trade

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I am sorry that I cannot always make the chart small enough to fit neatly on the left column. I want you to be able to see the details I want to point out.


I Hope this helps,


Juan

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I claim total ignorance about this trade. I am putting together some information by what I have been told here, and claim no responsibilty if anyone wants to reproduce this FICTITIOUS trade, which I am only paper trading.

I have selected AKAM because it may be in a long-term impulse series wave 3 that may be approaching its end. 4th waves are usually sideways waves that I would think would be ideal for this trade.

First, the long-term count:



Sort term, the proposed wave 3 may be coming to an end, or may still rally in the short term. My most highly rated counts are completely opposed.

First the bullish proposed count:


Note the target time should be within the next 30 days, so a butterfly above current price and May expiration may work.



Despite the bullish short-term outlook, the decline after that may be strong, as suggested by the second, most highly rated count. A Put calendar may be good to capture the short-term bullish but longer term bearish move.

Here is the proposed trade. I do NOT like the "sour spot" because it is quite pronounced. If anyone has any suggestion as to how to change this trade, I am willing to consider it.