Tech Rally

CSCO led the rally today and it was a pretty good one, even though CSCO closed near its low of the day. As I mentioned this morning, I sold all of my CSCO calls within 45 minutes of the mkt opening and that proved to be a good thing. Having sold my AMZN as well, I looked all day for a re-entry point, but never got the conviction to pull the trigger, so it stays out of my portfolio for now. Shorted some LVLT and got 10 points on it at the end of the day. All in all, a very mixed market, with Dow in negative territory most of the day. I am wondering what to do with my Yahoo and INTC calls here. I want to believe in this tech rally, but pretty much every other tech rally of the last few years should have been sold, and my fear is that this one is no different. From a technical viewpoint, YHOO has a major hurdle at the 30 level. Until it gets above that, it will remain confined to a trading range of 28-30. MRVL traded well today, staying bid most of the day.

UPS is deader than a door nail, and ADBE trades offered. Didn't do anything in UPS today, but did sell some ADBE. Still hold small position.

I doubled my position in WU today and CMCSA had its first up day since earnings. Bought some ITT today, which is a water play. Thought about buying GE for that reason, but water is still a small enough portion of their business that this doesnt make sense.

Lets see what tomorrow brings. There is no shortage of opportunity to make money out there.