BUY ON PANIC

Again, AKAM stop is triggered this morning at $33.0. The market remains very weak, although pace appears rather slow, and volume is low. There appears a buyers-strike out there. I am going to stay put for now and may add AKAM back later.

Bought AKAM back here. It will need to hold its support at $31.90, or it will fall further. I will stop it at the support level and wait and see. While bottom-fishing should usually be avoided, AKAM probably is one of the best tech name there and I do not mind buying quality at discount. (It broke its support just as I was typing. Let's see where it will close). Stopped out.

Added some WFR here at $33.80. I am totally impressed with this sell-off and discipline dictates that I got to buy some here to take advantage of potential bounce. This is a rather precarious position though as it has no visible support until $27. Valuation, on the other hand, is rather attractive, as the stock is way over-sold. The fact is if the market bounces, it will go along, however, you must be prepared to take profit, regardless how small it is. Also, better to turn a tight stop loss on.

We got the bounce right now. Is this the bounce everyone is looking for? Does it have legs? Could it go higher from here? Could it follow through? Is it a dead-cat bounce?