The Dow Approach - Tuesday August 20, 1996

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BTD 10
As Of 08/20/96

#1
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#2
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#3
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#5
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#6
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***NOTE: FOOLISH FOUR STOCKS ARE ITALICISED

The Daily Dow
Tuesday, August 20, 1996
by Robert Sheard (MF DowMan)

LEXINGTON, KY. (August 20): Surprising virtually no one, the Federal Reserve opted to leave interest rates alone at today's meeting of the Open Market Committee. The consensus is that the economy is maintaining a suitable growth rate (slowing a bit from the first half's strong rate) and that inflation hasn't become a significant concern. For stock investors, no news in this case continues to be good news.

The market's reaction was mixed today, though, with the Dow picking up roughly four-tenths of a percentage point while the Nasdaq Composite slipped a touch more than half a percentage point.

The Foolish Four model portfolio was equally mixed. Chevron, Eastman Kodak, and Imation lagged the overall Dow index, while 3M and DuPont gained ground. DuPont had an especially fine day, picking up just about $2 a share (2.3%).

The only company news crossing the wires today is the announcement that a subsidiary of Kodak, Qualex Inc., is buying two of Konica's main film developing laboratories in the United States. Qualex, already the largest film developing company in the country, is working to expand its network of film developing labs by picking up the Connecticut and Virginia facilities. The details of the sale were not released.

On a side note, today's Fribble is one more attempt to work through the questions we've been discussing about the DPEG Ratio and its usefulness for Dow investing. For today's installment on why I think the DPEG may be more misleading than helpful, check out "Once More With the DPEG" in the Fribbles area.

Transmitted: 8/20/96

High Yield 10

Today's Dow Numbers

THE FOOLISH FOUR MODEL (8/20/96)

Day Week Quarter Year History

Fool-4 0.03% 0.55% 1.22% 14.43% 14.43%

DJIA 0.38% 0.56% 1.18% 11.81% 11.81%

S&P 500 -0.13% 0.07% -0.74% 8.08% 8.08%

NASDAQ -0.55% -0.79% -5.09% 6.89% 6.89%

Bought # Stock In At Now Change

1/2/96 142 DuPont 69.88 83.63 19.68%

1/2/96 380 Chevron 52.38 59.25 13.13%

1/2/96 148 E. Kodak 67.00 73.75 10.07%

1/2/96 149 3M 63.76 68.50 7.44%

7/16/96 14 Imation 26.16 22.13 -15.42%

Bought # Stock Cost Value Change

1/2/96 142 DuPont $9,922.25 $11,874.75 $1,952.50

1/2/96 380 Chevron $19,902.50 $22,515.00 $2,612.50

1/2/96 148 E. Kodak $9,916.00 $10,915.00 $999.00

1/2/96 149 3M $9,500.09 $10,206.50 $706.41

7/16/96 14 Imation $366.21 $309.75 $(56.46)

CASH $1,392.29

TOTAL $57,213.29

Transmitted: 8/20/96

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