DAILY DIVIDEND PORTFOLIO FLEXIBILITY

It occurred to me that an investment plan purchasing 92 quarterly paying dividend stocks, in order to collect a dividend for every day of the year, may seem to have little flexibility, as far as investment schemes go.  The strategy requires a buy and hold aspect, since you have to hold on to shares of all 92 stocks to collect a dividend per day for each day of the year.  However, since I'll be collecting dividends in an interest bearing account it does allow for fantastic buying flexibility.

When you have money coming in on a daily basis, cash balances rise quite rapidly, depending on how you manage the cash.  While I plan to build positions to increase cash flows by reinvesting dividends, I have the option to choose when to do my buying.  As everyone knows, it's impossible to time the market.  It is, however, much easier to identify buying opportunities.  When the market declines 10 percent from a previous high it represents a buying opportunity, as does each additional 10 percent decline.  Usually a person following this strategy would also identify selling opportunities by raising cash through stock sales when the market rises 25 percent or more. 

Since my daily dividend portfolio follows more of a buy and hold strategy, I would have less flexibility on the sales end, but this is where the daily dividends help pick up the slack.  While I mostly intend to buy and hold, it will become necessary at times to replace under performing stocks or stocks that may cease to pay dividends, so I still have to work out a strategy to account for such contingencies.  I'm open to suggestions on this one?