*Blue Plate Specials* Portfolio – 8/24/10

Market notes
Late summer malaise has definitely set in. The VIX is back over 25, the bull/bear dividing line. Judging by the opening gap, it sure looks like it’s going to continue upwards which is bad news for the bulls. Pundits are blaming worse than expected housing data, but honestly, with unemployment still high and showing little sign of abatement, banks reluctant to part with a plum nickel, and the end of the housing incentives, the only surprise is that today’s data actually caught people by surprise.

More potential market-moving economic reports are coming up so keep your seatbelts securely fastened. It’s sure to be a bumpy ride!

Today’s new portfolio
A short portfolio was entered using stocks selected from today’s New Lows list on the *Blue Plate Specials*.

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Today’s portfolio close-out
The long portfolio initiated on 8/9 was closed out today for another loss. One thing this exercise shows is that even strong stocks will be losers during bear markets—another real-life example of why you can’t buck the trend!

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