Another rough morning (notice a theme?) :)

No surprises here. Overnight, Asian markets were down hard reacting to US losses yesterday, and Europe followed suit.

The best result here would be a panicked 500 pt DOW loss - these 250 down, 150 up really are just set ups. A nice cleansing panic would be fruitful.

That said, continuing to pile into the market in pieces. Added a few new names in some high fliers (smaller positions) such as Crocs (CROX), and Baidu.com (BIDU) - these have been momentum favorites, and I am not buying large positions, but they have finally shown some weakness. When the market takes its 'generals' (leaders) out and shoots them, that is generally a sign a bottom can be found nearby. That said, I don't consider the losses in either 'shooting' - they are simply hovering near to 50 day moving averages.

I also bought a blast from the past, Broadcom (BRCM) which has exhibited serious strength the past few days, from what appears to be a sympathy move with Cisco (CSCO). I have also been able to add some to my position in Juniper Networks (JNPR); the stock has stayed up stubbornly despite the market downturns, but finally showing some weakness. With hedge funds needing to sell, they are finally letting go off some winners and/or institutions are finally heading for the hills and selling their winners.

I did consider Under Armour (UA) but its just so pricey but its been a rock in this storm. As have Sandisk (SNDK) which I bought a small position, as well as another retailer, Coach (COH), on its early morning 6% dip. Coach is a retailer which I am trying to eschew for the most part but generally caters to the upper end which are doing better than ever in America and worldwide. Any retailers facing the common folk (i.e. most of us) I see a lot of struggles going forward.

Advancers to Decliners are 2:8 in the major indexes

Cash is now down to 14%. This is now at a level I need to be conservative and save some gunpowder in case of a full blown panic. I would usually like to hold cash anywhere from 5-20% levels; being long only I am relatively handcuffed from what I can do to create downside protection; so either holding cash and/or buying ETFs that appreciate during down days (i.e. QID) are really the only protection I can do within the confines of a Marketocracy fund

Long CROX (yes I bought it in my personal account for the first time ever this morning)