My latest positions

Not much mojo to the bounce of the lows so far, but we all know that the market is in the business of fooling the most number of people the maximum amount of the time, so it will come when it will come.

Some of our best stocks, including Apple, Google and F5 have all pulled back from their highs a good bit despite delivering blockbuster earnings and guidance and commentary — that is also part of what the market does. Stocks don’t go straight up, even if earnings are going straight up. As painful as it is, when great companies that are driving technological revolutions are sold off with the broader markets, that is the time to be buying and not selling.

You’re never going to consistently catch a bottom in the markets and certainly you w0n’t consistently catch a bottom in individual stocks either. You have to know when you trade that you will be down on some positions sometimes for a long time before they work out. People who bought Apple in early 2008 at $200 a share later got the chance to buy more Apple at less than a $100 a share after the Debt Crisis hit. Buying Apple at $200 in early 2008 would have turned out to have been a great trade. But hanging on and scaling into more Apple as it fell would have made the whole trade even better. Learn from history.

Here are my biggest positions heading into the weekend:

Longs –

• Google (7)
• Apple (8)
• F5 (7)
• Level 3 (7)
• Fusion-IO (8)
• Sandisk (8)
• Lindsay (8)
• Seagate (6)
• Cisco (6)
• Autodesk (7)
• Nuance (5)
• Riverbed (6)

Shorts –

• Apollo (6)
• BKS (6)
• GLD (7)
• LPS (6)
• MBI (7)
• WDC (6)
• PNC (5)