CSCO, JNPR, RSAS (maybe CHKP) look good for more upside for the next months. I would even consider ORCL and EMC to continue up when the economy turns around, however its ludicrous to load up now on many positions in high p/e or high priced companies that will only pull back into 'short the rallies' or lengthy corrections like ZMH, CLX and PG.
Why not just keep them long following the trend short at overbought patterns and buy back at the first swing high after the correction (like TARO and TEVA and ZMH) Who is holding stocks like PG CLX or IDPH through corrections? You look to reenter at bounces off support and plot the entry like we did with ZMH and TARO at the approximate area of bounce according to key support/resistance areas. We are holding for swing plays 1-5 days and the only real position plays would be stocks that will still stand after consolidations of companies and survival of the fittest. The test is not in the next days or weeks but months. It will take the next 3 weeks just to see which companies that have enough growth potential for holds up to 3-6 months or longer. You certainly are not going to load up now only to see 1/4 of those companies bite the dust after they report. I like JNPR, I like RSAS and thats why I'd consider companies like CSCO, ORCL and maybe even SEBL, but nothing that is already priced to perfection. Who really knows when the economy will turn around and which companies will remain standing when it does?
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