Good Luck on your heavily long position, JQP. I think only a few of us on this thread are going against the conventional wisdom - you, me, Ed, maybe Hitsoft.
Most of my long stuff is in SPY. I've decided to temporarily reduce my exposure to tech, specifically my group of high-fliers. I'm comfortable holding SUNW and ORCL here, but the QLGC and GNSS needed to being either sold or protected with shorts or options. A 10-15% Nasdaq haircut in the next few weeks will probably result in QLGC losing 25-30%. Hell, it's already lost 20% in the past couple days, and it looks like the QLGC canoe has just started it trip to the bottom of Niagara Falls (glancing at a candlestick). GNSS looks ready to break down as well.
In addition to SUNW and ORCL, also holding KLAC, PSFT and, ahem, JDSU.
Speaking of which, I'm planning on initiating a tracking portfolio soon - hopefully to coincide with a big NASDAQ selloff within a week or two. Razor had his runts, Big Dog had his Oily Dog Fund. I am going to populate a portfolio with ex-tech gorillas that are now washed up losers. I shall call it "Warpfactors Wrunts". Will use my own $$ and hold for two years. Here's my list of candidates, of which I will select 5 or 6:
Warpfactors Wrunts:
LU
NT
JDSU
CSCO
SUNW
ORCL
I prefer stocks under $20. Under $10 would be even better. Anthing else look good on this list?? |
