*Blue Plate Specials* Portfolio – 9/17/10

Market Notes
After the opening surge, the major averages settled into a trading range. Too bad that this quad-witching expiration had to end on a middlin’ note for the S&P 500, the Nasdaq, and the Dow Industrials; the good news is that the tech-heavy Nasdaq (and the Nasdaq 100, NDX) closed above resistance.

While the major averages were waffling, volatility (VIX) was declining, at least until a half hour before the close. This plus a higher Trin might suggest further downside Monday morning, but the fact that the SQQQ closed below its recent closing low bodes well for the bulls.

On the other hand, we’re still in the no-man’s land of testing major resistance. Next week, when many traders return from the Jewish holidays, we’ll know if the autumn rally is on or not.

New Long Portfolio

Today’s portfolio components were selected from the following *Blue Plate Specials* lists: Breaking out to new highs (7), Breaking Out (1), Speculative Leaders (1), and Darlings of the Day (1).


[See 4/21/10 blog for further details on how these portfolios are constructed.]

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