BUY: MEOH (NASDAQ), NUE (NYSE), HOG (NYSE), ESV (NYSE), AEO (NYSE)

All total transaction prices include a $15.00 commission. The purchases below were made on Tuesday August 21^st; I haven't gotten around to blogging them until now.

• Purchased 136 shares of Methanex Corp. (MEOH) at $20.29/share = $2,774.44.
• Purchased 55 shares of Nucor Corp (NUE) at $50.00/share = $2,765.00.
• Purchased 49 shares of Harley Davidson, Inc. (HOG) at $56.71/share = $2,793.79.
• Purchased 50 shares of ENSCO International Inc (ESV) at $54.71/share = $2,750.50.
• Purchased 123 shares of American Eagle Outfitters, Inc. (AEO) at $22.81/share = $2,820.63.

Transaction summary:

• Total transaction costs: $13,364.46
• Final bank account: $56.05

Portfolio:

• DLX : 112
• ASEI : 49
• INTX : 265
• CECO: 113
• CRYP: 148
• UIC: 49
• CONN: 105
• HGT: 102
• WIRE: 117
• IPS: 27
• SHOO: 81
• IIIN: 138
• LMS: 82
• KSWS: 70
• WON: 338
• TTES: 175
• ALDA: 172
• EGY : 502
• OPMR: 314
• USMO: 135
• GW: 400
• TCK: 77
• RAIL: 68
• ASPV: 180
• AVR: 230
• MEOH: 136
• NUE: 55
• HOG: 49
• ESV: 50
• AEO: 123

Total "account value" including cash is $84,098.60. The number a couple of months ago was $94,248.41 (peaking near $97,247.88). If I didn't have the sense to know how little value vague predictions on 50/50 outcomes have, I'd be boasting about -- and taking solace in -- my mentions of danger factors during last portfolio price update. However, I predicted nothing, and even if I had, could only count the successful prediction as much an accomplishment as correctly calling heads in a coin toss.

Obviously, we have had a precipitous decline. These things happen to everyone, and can be recovered from. Right now the attitude is wait-and-see. Recession in the U.S. economy, however, is looming more likely all the time, which means further decline -- and buying opportunity -- is almost inevitable. How long can the Dow tread water at 13,000 without either getting tired and sinking, or going for a swim somewhere? It is interesting to watch extremely rich Wall Street types whine for interest rate cuts at the first sign that their enormous compensation might not materialize this year. The Bank of Canada has stopped raising (prematurely?) and it will be interesting to see what the Federal Reserve does in its next meetings, and whether it has any effect.

From the start of Year 2, changes on the indices are:

• Dow: 12,961.98 -> 13,113.38: up 1.2%.
• S&P 500: 1,484.35 -> 1,453.55: down 2.1%.
• NASDAQ composite: 2,526.39 -> 2,565.70: up 1.6%.
• TSE 300: 12,171.29 -> 13,651.21: up 12.16%

From the start of Year 1, changes on the indices are:

• Dow: 11,278.7695 -> 13,113.38: up 16.3%.
• S&P 500: 1,309.93 -> 1,453.55: up 11%.
• NASDAQ composite: 2,370.8799 -> 2,565.70: up 8.2%.

A stock to watch is Mylan Labs. For a generic drugs maker, it looked to me like it was on a pretty solid footing until I had a look at its financial position, likely arrived at by borrowing for acquisition. In fact, I saw a lot of these companies with cringe-worthy quick, current, and asset to liability ratios. They look like they're doing well, until the earnings fall off...