OJ Portfolio Update

Am I not a great market timer or what?

Ok. All sarcasm aside, the bears are getting emboldened as the Nasdaq specifically has been hit hard. It seems as if Cramer's call to sell tech was taken seriously by both retail and institutional traders. The selling volume has increased and it looks like the stocks in the OJ portfolio closed at their lows.

So what to do? Brian over at Alpha Trends is cautious about the QQQQ 42.50 level as being critical support for the tech market. I'm not so concerned about shorter term support and resistance levels but I'm not exactly pleased with my timing. I guess that a correction was due and we'll see if this has legs. Since I have time on my side and have not entered into large positions, I'll be looking to scale into certain positions if the market continues to see red.

Having said that, I'm not opposed to being a buyer of puts if the market gets into a selling frenzy mode to hedge the portfolio.

Let's analyze my positions.

MSFT-I'll look to add to this position if it pulls back to the 29-30 level.
MA-I'll be looking to add to this position as it pulls back or settles down at the 100 or 95 level.
NYX-I'll also look to add to this position as it finds any support near the 95-100 level.
CSCO-I added to my position today and will continue to do so at 25-26.
NMX-I'll look to add at 116 if it gets there.
YHOO-I'll look to add at 27
GOOG-I added to the postion today when it was down about 7 and will continue to add if it reaches the 480 level.
DELL-I'll give this bad boy to 24 and reassess at that point.

There you have it. It will be interesting to see if we get any rebounding that will be real or if it will be a dead cat bounce in the market. All eyes are on the Nasdaq and Oil right now.

Grab a vine and let me know how you feel about my very unproductive portfolio thus far.