You can create a new blank itunes library by holding option key then turn on Match. http://support.apple.com/kb/HT1589
You will be asked to add this computer, do so. Once process is completed you will see the tracks that you have in match.
Find track you want to delete. You will be warned that track will be removed from cloud - it will not be deleted from your main library.
Now go back to your original library - the icloud status will be "Removed". To see this, you need to add column to song view - go to menu > view > view options and tick box.
Glad you got it sorted out. Having a second library is great when you want to manage your iTunes library especially when you have more than 25k tracks in your iTunes library.