01-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
IVN	Metal Mining	SHORT	27.39	-0.25	HOLD
END	Oil and Gas Operations	SHORT	13.00	2.36	HOLD
SFE	Business Services	SHORT	20.81	2.26	HOLD
ARIA	Biotechnology and Drugs	SHORT	7.82	3.99	HOLD
MTL	Iron and Steel	LONG	31.23	1.43	HOLD
NAT	Water Transportation	SHORT	24.92	0.32	HOLD
MYL	Biotechnology and Drugs	LONG	23.23	2.52	HOLD
SGEN	Biotechnology and Drugs	SHORT	15.50	-0.45	HOLD
CHRS	Retail (Apparel)	LONG	4.37	2.58	SELL
COHU	Semiconductors	LONG	15.13	-1.50	HOLD
MBT	Communications Services	LONG	21.54	1.46	HOLD
TSO	Oil and Gas Operations	LONG	27.04	0.78	HOLD
CRME	Biotechnology and Drugs	SHORT	4.30	0.47	HOLD
GES	Retail (Apparel)	LONG	40.49	2.90	HOLD
MMR	Oil and Gas Operations	SHORT	18.35	3.61	HOLD
FDML	Auto and Truck Parts	LONG	24.87	-0.12	HOLD
ITMN	Biotechnology and Drugs	SHORT	48.49	2.75	COVER
DEPO	Biotechnology and Drugs	SHORT	9.90	-1.39	HOLD
SJW	Water Utilities	SHORT	23.20	0.22	HOLD
SMSI	Software and Programming	SHORT	9.10	-2.78	HOLD
JBL	Electronic Instr. and Controls	LONG	20.04	-1.91	HOLD
CCL	Recreational Activities	LONG	38.25	-0.29	HOLD
RIMM	Communications Equipment	LONG	56.08	-0.81	HOLD
MED	Biotechnology and Drugs	LONG	18.01	-8.81	HOLD
CTB	Tires	LONG	26.07	1.24	HOLD
ACTG	Misc. Financial Services	LONG	35.60	3.64	HOLD
CMC	Iron and Steel	LONG	17.41	0.81	HOLD
NCT	Real Estate Operations	LONG	5.99	-0.83	HOLD
BTH	Personal and Household Prods.	LONG	32.85	1.11	HOLD
CPY	Photography	LONG	21.96	-2.44	HOLD
FINL	Retail (Apparel)	LONG	19.93	0.40	HOLD
ELGX	Medical Equipment and Supplies	SHORT	7.09	4.57	HOLD
SPY	Misc. Financial Services	SHORT	133.15	0.42	HOLD
SPY	Misc. Financial Services	SHORT	133.15	0.42	HOLD
OXM	Apparel/Accessories	LONG	34.03	-0.47	HOLD
BBY	Retail (Technology)	LONG	28.64	-0.28	HOLD
CAAS	Auto and Truck Parts	LONG	8.87	-0.34	HOLD
NVMI	Semiconductors	LONG	9.59	-1.97	HOLD
DSGX	Computer Services	LONG	6.75	1.35	HOLD
WATG	Auto and Truck Parts	LONG	5.25	-3.14	BUY
MR	Scientific and Technical Instr.	LONG	25.40	0.79	BUY
TODAY SUMMARY				GAINS(%)
LONGS				0.02
SHORTS				1.10
TOTAL				-1.08
S&P 500				0.50
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-1.70	0.83	-2.14	-2.05
S&P 500	0.94	0.97	-4.78	0.96