*Blue Plate Specials* Portfolio – 10/20/10

Market Notes
Well, yesterday’s correction was sure short-lived. I was hoping to be able to put on a couple of long positions this morning but the market never gave me a chance! I can’t cry, though, over today’s stellar recovery. Although there’s little indication that the market should reverse tomorrow, that didn’t stop it from acting contrary to indications yesterday. Maybe we need a little luck thrown into the mix so let’s keep our fingers crossed that sanity will return to the trading floor and the bull will keep charging along.

New Long Portfolio
Boy, am I glad I initiated a long portfolio yesterday as it turned out to be a stellar performer today. China miner SHZ blasted off into outer space, ending the day up 88% and up 135% from yesterday’s cost basis. It was helped along by Rare Earth Resources (REE) which closed up 24% from yesterday’s buy price. See? There was a silver lining in yesterday’s storm clouds!

Let’s hope our lucky streak will continue. Today’s ten portfolio selections come from the following *Blue Plate Specials* lists: Breaking out to new highs (4), Low-Priced Leaders (4), Speculative Leaders (1), and Darlings of the Day (1).


Today’s portfolio close-out
The 10/5 portfolio was exited today for a 1.4% profit. I’m rather sorry I closed out BCPC on 10/8 because it never pierced its support level.  Instead, it reversed course ending its run down only 2.6% instead of 8.4%. Ah well.  Next time.

The 10/06 portfolio will be closed out tomorrow.


Portfolio Notes
Due to the massive one-day advance in SHZ, a member of yesterday’s portfolio mentioned above, I decided to book profits and closed out the position at $4.00 for a 127% gain. Remember that old saw about pigs getting slaughtered…

*Important FYI*
Dr. Kris began these portfolios to illustrate how the stocks given in the daily *Blue Plate Specials*can be used to create or enhance your own stock portfolio. This was meant as a short-term exercise only and frankly Dr. Kris is looking forward to doing other things besides spending several hours a day managing portfolios. In particular, this website will shortly have an entirely new, streamlined look and a companion website focused mainly on investing strategies will be also be unveiled. I’m very excited about this and so I’ve decided that October 29 will be the last *Blue Plate Specials* portfolio.

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

Leave a Reply

You must be logged in to post a comment.