Boring Portfolio Report
ANN ARBOR, Mich. (August 30) -- A miserable week for the market (and for
the Boring Portfolio) ended with both a bang and a whimper.
Spooked by a surprisingly strong Chicago Purchasing Managers report
coupled with a robust July factory orders number, bond traders sent the yield
on the benchmark 30-year T-bond soaring to 7.12%. Stocks correspondingly
sold off, triggering NYSE trading collars. That was the bang.
The whimper occurred when the Dow managed to recover about half of
its early loses to finish down 31 points, to 5616 -- but on volume of less
than 260 million shares, the slowest trading session of the entire year.
For the week, the DJIA lost 107 points, its worst weekly performance in three
months.
The Nasdaq index slid 4 points on Friday, while the S&P 500 index
lost 5. As for the Borefolio, it shed $294 in value, or -0.54%. That was
not as severe as the S&P's -0.82% but a closer haircut than the Nasdaq's
-0.31%. The finishing order for the month is the same: Nasdaq in first (+5.65%),
Borefolio second (3.00%), and S&P 500 third, (+1.88%).
Among Boring stocks, Cisco continued to lose ground on Friday, falling
$1 3/8, to $52 5/8. Carlisle Companies also extended its recent losses, down
another dollar today (on tiny volume). Both stocks have now slipped into
the red for the Borefolio, if only by a point or so each.
Cisco unveiled the first Chinese language WWW customer support site
in the People's Republic of China today. The new Cisco website, based in
Beijing, provides users in the PRC with "free access in their own language
to the same information and services available to Cisco customers globally,"
including: order info, product pricing, configuration and troubleshooting
tools, new product announcements, and so forth.
Green Tree Financial got trimmed along with other financial stocks
in reaction to the interest rate jump today. Borders, Oxford Health, and
TXI slipped fractionally, as well. No specific news on any of these stocks.
As this past week demonstrated, it can be mighty difficult to sustain
any upward momentum if stock-shoppers are all on vacation. Nearly all Borefolio
issues have experienced abnormally low activity this week, including today.
The two exceptions that prove the rule are Shaw Group and Prime Medical Services.
SHAW and PMSI were the only Boring stocks that had above-average
volume today, and they are also the two that experienced advances. Piping
hot Shaw gained a half-point, while PMSI extended yesterday's upside move
by another three-quarters.
So it's adios to August. How 'bout we take an extended breather for
the next few days and meet back on Tuesday for a fresh start? Oh, just one
other thing:
Go Blue! Beat Illinois!
*Scroll down or expand screen for full portfolio accounting
Day Month Year History
BORING -0.54% 3.00% 7.90% 7.90%
S&P 500 -0.82% 1.88% 4.89% 4.89%
NASDAQ -0.31% 5.65% 9.66% 9.66%
Rec'd # Security In At Now Change
4/12/96 100 The Shaw Gr 18.84 32.38 71.83%
2/28/96 200 Borders Gro 22.51 32.38 43.81%
3/8/96 400 Prime Medic 10.07 12.13 20.42%
1/29/96 100 Texas Indus 54.50 65.13 19.50%
2/2/96 200 Green Tree 30.39 34.75 14.36%
7/23/96 100 S&P Deposit 64.15 65.33 1.84%
8/13/96 100 Carlisle Co 52.65 51.50 -2.18%
6/26/96 100 Cisco Syste 53.90 52.63 -2.37%
5/24/96 100 Oxford Heal 48.02 45.50 -5.26%
Rec'd # Security Cost Value Change
2/28/96 200 Borders Gro 4502.49 6475.00 $1972.51
4/12/96 100 The Shaw Gr 1884.16 3237.50 $1353.34
1/29/96 100 Texas Indus 5449.99 6512.50 $1062.51
2/2/96 200 Green Tree 6077.49 6950.00 $872.51
3/8/96 400 Prime Medic 4027.49 4850.00 $822.51
7/23/96 100 S&P Deposit 6414.99 6532.81 $117.82
8/13/96 100 Carlisle Co 5264.99 5150.00 -$114.99
6/26/96 100 Cisco Syste 5389.99 5262.50 -$127.49
5/24/96 100 Oxford Heal 4802.49 4550.00 -$252.49
CASH $4428.44
TOTAL $53948.75
Friday, August 30, 1996
BGP - 5/8 ...CSL -1...CSCO -1 3/8 ...GNT - 3/4 ...OXHP - 1/8 ...
PMSI + 3/4 ...SHAW + 1/2 ...SPY -11/16...TXI - 1/2 ...