*Blue Plate Specials* Portfolio – 8/26/10

Market Notes
The dog days of summer have certainly set in as the market drifts lower going into the close. The SPX and DTX both broke significant support levels at 1050 and 410 respectively. Although the Dow Industrials hit 9980, the index is now sitting right at 10,000 major support (half hour before the close). The market internals are on the bearish side and I don’t expect this level to hold.

Potentially market moving economic numbers to watch for tomorrow are consumer sentiment at 9:55 am ET and GDP (gross domestic product) after the market closes at 1:30 pm ET.

Today’s new portfolio
A short portfolio was entered using stocks selected from today’s New Lows list on the *Blue Plate Specials*. The position size is adjusted according to currently total fund holdings which is down from inception. (Initial position size was $1000.)

Capture

Today’s portfolio close-out
The short portfolio initiated on 8/11 was closed out today for a gain—yay!

Capture2

[Construction rules for these portfolios are given in the 4/21/10 blog.]

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