Market Notes
The bulls and bears are locking horns and it’s unclear who is going to win this battle. The major averages are stalling with the DTX and the Nasdaq unable to close above 480 and 2500 resistance, respectively. The VIX has been on a stealth rise and is now hovering over 20.
What does this mean? It could be that the Street is coming down with a case of pre-election jitters. Maybe the expectation of good third quarter earnings have already been priced in. Or…
…perhaps it’s just a halloween prank. We’ll know soon if there are any skeletons dangling in the closet.
New Long Portfolio
Today’s portfolio selections come from the following *Blue Plate Specials* lists: Breaking out to new highs (5), Breaking out to new highs on Lower Volume (1), Low-Priced Leaders (2), Breaking out (1), and Darlings of the Day (1).
Today’s portfolio close-out
The 10/11 portfolio was closed out for a 1.1% gain. Great Basin Gold (GBG) was exited early because it broke near-term support. The loss would have been minimized had we kept it. Ah, well.
The 10/12 portfolio will be closed out tomorrow.
*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.]