08-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	30.07	-2.12	HOLD
MYL	Biotechnology and Drugs	LONG	23.44	0.86	HOLD
COHU	Semiconductors	LONG	15.21	-1.55	HOLD
MBT	Communications Services	LONG	21.34	-0.37	HOLD
TSO	Oil and Gas Operations	LONG	25.79	-3.34	HOLD
GES	Retail (Apparel)	LONG	39.46	-1.05	HOLD
FDML	Auto and Truck Parts	LONG	25.12	-0.16	HOLD
JBL	Electronic Instr. and Controls	LONG	19.79	-2.75	HOLD
CCL	Recreational Activities	LONG	37.40	-1.91	HOLD
RIMM	Communications Equipment	LONG	54.78	-0.63	HOLD
MED	Biotechnology and Drugs	LONG	16.98	-2.97	HOLD
CTB	Tires	LONG	24.66	-1.44	HOLD
CMC	Iron and Steel	LONG	16.98	-2.13	HOLD
NCT	Real Estate Operations	LONG	5.86	-0.85	HOLD
BTH	Personal and Household Prods.	LONG	41.01	10.42	HOLD
CPY	Photography	LONG	22.05	-0.81	HOLD
FINL	Retail (Apparel)	LONG	20.39	-0.54	HOLD
SPY	Misc. Financial Services	SHORT	132.86	-0.35	HOLD
SPY	Misc. Financial Services	SHORT	132.86	-0.35	HOLD
BBY	Retail (Technology)	LONG	29.70	-0.97	HOLD
CAAS	Auto and Truck Parts	LONG	10.79	32.56	HOLD
NVMI	Semiconductors	LONG	10.07	9.22	HOLD
DSGX	Computer Services	LONG	6.68	-1.04	SELL
WATG	Auto and Truck Parts	LONG	5.40	6.72	HOLD
MR	Scientific and Technical Instr.	LONG	26.23	-0.38	HOLD
SPY	Misc. Financial Services	SHORT	132.86	-0.35	HOLD
SPY	Misc. Financial Services	SHORT	132.86	-0.35	HOLD
APWR	Construction Services	LONG	4.36	-0.68	HOLD
SMA	Medical Equipment and Supplies	LONG	9.90	-0.90	HOLD
AIR	Aerospace and Defense	LONG	26.26	-2.99	HOLD
SPY	Misc. Financial Services	SHORT	132.86	-0.35	HOLD
ESLT	Aerospace and Defense	LONG	53.80	-0.19	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.11
SHORTS				-0.35
TOTAL				1.46
S&P 500				-0.40
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	0.19	0.81	-2.14	0.23
S&P 500	0.62	0.86	-4.78	0.71

07-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	30.72	-1.70	HOLD
MYL	Biotechnology and Drugs	LONG	23.24	0.17	HOLD
COHU	Semiconductors	LONG	15.45	-0.45	HOLD
MBT	Communications Services	LONG	21.42	0.47	HOLD
TSO	Oil and Gas Operations	LONG	26.68	-2.59	HOLD
GES	Retail (Apparel)	LONG	39.88	1.76	HOLD
FDML	Auto and Truck Parts	LONG	25.16	0.48	HOLD
JBL	Electronic Instr. and Controls	LONG	20.35	-0.29	HOLD
CCL	Recreational Activities	LONG	38.13	-1.80	HOLD
RIMM	Communications Equipment	LONG	55.13	-1.04	HOLD
MED	Biotechnology and Drugs	LONG	17.50	3.67	HOLD
CTB	Tires	LONG	25.02	-1.26	HOLD
CMC	Iron and Steel	LONG	17.35	-0.23	HOLD
NCT	Real Estate Operations	LONG	5.91	0.51	HOLD
BTH	Personal and Household Prods.	LONG	37.14	6.27	HOLD
CPY	Photography	LONG	22.23	-1.42	HOLD
FINL	Retail (Apparel)	LONG	20.50	1.69	HOLD
SPY	Misc. Financial Services	SHORT	133.32	-0.25	HOLD
SPY	Misc. Financial Services	SHORT	133.32	-0.25	HOLD
BBY	Retail (Technology)	LONG	29.99	0.81	HOLD
CAAS	Auto and Truck Parts	LONG	8.14	-2.75	HOLD
NVMI	Semiconductors	LONG	9.22	0.44	HOLD
DSGX	Computer Services	LONG	6.75	0.75	HOLD
WATG	Auto and Truck Parts	LONG	5.06	-1.17	HOLD
MR	Scientific and Technical Instr.	LONG	26.33	1.31	HOLD
SPY	Misc. Financial Services	SHORT	133.32	-0.25	HOLD
SPY	Misc. Financial Services	SHORT	133.32	-0.25	HOLD
APWR	Construction Services	LONG	4.39	3.78	HOLD
SMA	Medical Equipment and Supplies	LONG	9.99	2.25	HOLD
AIR	Aerospace and Defense	LONG	27.07	-1.24	HOLD
SPY	Misc. Financial Services	SHORT	133.32	-0.25	HOLD
ESLT	Aerospace and Defense	LONG	53.90	-1.53	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.25
SHORTS				-0.25
TOTAL				0.51
S&P 500				-0.15
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-1.25	0.76	-2.14	-1.65
S&P 500	1.02	0.88	-4.78	1.16

06-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	31.25	-1.61	HOLD
MYL	Biotechnology and Drugs	LONG	23.20	-0.56	HOLD
COHU	Semiconductors	LONG	15.52	0.52	HOLD
MBT	Communications Services	LONG	21.32	1.14	HOLD
TSO	Oil and Gas Operations	LONG	27.39	-2.98	HOLD
GES	Retail (Apparel)	LONG	39.19	-1.93	HOLD
FDML	Auto and Truck Parts	LONG	25.04	0.40	HOLD
JBL	Electronic Instr. and Controls	LONG	20.41	-0.15	HOLD
CCL	Recreational Activities	LONG	38.83	0.91	HOLD
RIMM	Communications Equipment	LONG	55.71	2.40	HOLD
MED	Biotechnology and Drugs	LONG	16.88	5.83	HOLD
CTB	Tires	LONG	25.34	-2.20	HOLD
CMC	Iron and Steel	LONG	17.39	-1.64	HOLD
NCT	Real Estate Operations	LONG	5.88	-0.84	HOLD
BTH	Personal and Household Prods.	LONG	34.95	-0.43	HOLD
CPY	Photography	LONG	22.55	5.67	HOLD
FINL	Retail (Apparel)	LONG	20.16	-1.37	HOLD
SPY	Misc. Financial Services	SHORT	133.66	0.32	HOLD
SPY	Misc. Financial Services	SHORT	133.66	0.32	HOLD
OXM	Apparel/Accessories	LONG	34.63	-1.76	SELL
BBY	Retail (Technology)	LONG	29.75	3.88	HOLD
CAAS	Auto and Truck Parts	LONG	8.37	1.21	HOLD
NVMI	Semiconductors	LONG	9.18	-0.11	HOLD
DSGX	Computer Services	LONG	6.70	-1.62	HOLD
WATG	Auto and Truck Parts	LONG	5.12	-2.48	HOLD
MR	Scientific and Technical Instr.	LONG	25.99	1.52	HOLD
SPY	Misc. Financial Services	SHORT	133.66	0.32	HOLD
SPY	Misc. Financial Services	SHORT	133.66	0.32	HOLD
APWR	Construction Services	LONG	4.23	-0.47	HOLD
SMA	Medical Equipment and Supplies	LONG	9.77	0.72	HOLD
AIR	Aerospace and Defense	LONG	27.41	0.99	HOLD
SPY	Misc. Financial Services	SHORT	133.66	0.32	HOLD
ESLT	Aerospace and Defense	LONG	54.74	0.14	BUY
TODAY SUMMARY				GAINS(%)
LONGS				0.19
SHORTS				0.32
TOTAL				-0.13
S&P 500				0.22
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-1.75	0.77	-2.14	-2.28
S&P 500	1.18	0.90	-4.78	1.31

05-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	31.76	-0.56	HOLD
MYL	Biotechnology and Drugs	LONG	23.33	-0.17	HOLD
COHU	Semiconductors	LONG	15.44	0.59	HOLD
MBT	Communications Services	LONG	21.08	-1.86	HOLD
TSO	Oil and Gas Operations	LONG	28.23	1.33	HOLD
GES	Retail (Apparel)	LONG	39.96	-0.87	HOLD
FDML	Auto and Truck Parts	LONG	24.94	0.12	HOLD
JBL	Electronic Instr. and Controls	LONG	20.44	-0.15	HOLD
CCL	Recreational Activities	LONG	38.48	0.26	HOLD
RIMM	Communications Equipment	LONG	54.40	-0.70	HOLD
MED	Biotechnology and Drugs	LONG	15.95	-3.80	HOLD
CTB	Tires	LONG	25.91	0.19	HOLD
CMC	Iron and Steel	LONG	17.68	0.74	HOLD
NCT	Real Estate Operations	LONG	5.93	-1.00	HOLD
BTH	Personal and Household Prods.	LONG	35.10	0.80	HOLD
CPY	Photography	LONG	21.34	-2.20	HOLD
FINL	Retail (Apparel)	LONG	20.44	3.34	HOLD
SPY	Misc. Financial Services	SHORT	133.24	-0.02	HOLD
SPY	Misc. Financial Services	SHORT	133.24	-0.02	HOLD
OXM	Apparel/Accessories	LONG	35.25	3.01	HOLD
BBY	Retail (Technology)	LONG	28.64	1.74	HOLD
CAAS	Auto and Truck Parts	LONG	8.27	-1.31	HOLD
NVMI	Semiconductors	LONG	9.19	-0.54	HOLD
DSGX	Computer Services	LONG	6.81	1.34	HOLD
WATG	Auto and Truck Parts	LONG	5.25	2.74	HOLD
MR	Scientific and Technical Instr.	LONG	25.60	-0.19	HOLD
SPY	Misc. Financial Services	SHORT	133.24	-0.02	HOLD
SPY	Misc. Financial Services	SHORT	133.24	-0.02	HOLD
APWR	Construction Services	LONG	4.25	1.19	HOLD
SMA	Medical Equipment and Supplies	LONG	9.70	0.94	HOLD
AIR	Aerospace and Defense	LONG	27.14	-1.20	BUY
SPY	Misc. Financial Services	SHORT	133.24	-0.02	SHORT
TODAY SUMMARY				GAINS(%)
LONGS				0.19
SHORTS				-0.02
TOTAL				0.21
S&P 500				-0.02
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-1.62	0.79	-2.14	-2.06
S&P 500	0.96	0.92	-4.78	1.04

04-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
IVN	Metal Mining	SHORT	27.60	0.77	COVER
END	Oil and Gas Operations	SHORT	13.19	1.46	COVER
SFE	Business Services	SHORT	20.74	-0.34	COVER
ARIA	Biotechnology and Drugs	SHORT	7.97	1.92	COVER
MTL	Iron and Steel	LONG	31.94	2.27	HOLD
NAT	Water Transportation	SHORT	24.51	-1.65	COVER
MYL	Biotechnology and Drugs	LONG	23.37	0.60	HOLD
SGEN	Biotechnology and Drugs	SHORT	15.72	1.42	COVER
COHU	Semiconductors	LONG	15.35	1.45	HOLD
MBT	Communications Services	LONG	21.48	-0.28	HOLD
TSO	Oil and Gas Operations	LONG	27.86	3.03	HOLD
CRME	Biotechnology and Drugs	SHORT	4.22	-1.86	COVER
GES	Retail (Apparel)	LONG	40.31	-0.44	HOLD
MMR	Oil and Gas Operations	SHORT	18.13	-1.20	COVER
FDML	Auto and Truck Parts	LONG	24.91	0.16	HOLD
DEPO	Biotechnology and Drugs	SHORT	9.38	-5.25	COVER
SJW	Water Utilities	SHORT	23.44	1.03	COVER
SMSI	Software and Programming	SHORT	9.21	1.21	COVER
JBL	Electronic Instr. and Controls	LONG	20.47	2.15	HOLD
CCL	Recreational Activities	LONG	38.38	0.34	HOLD
RIMM	Communications Equipment	LONG	54.79	-2.31	HOLD
MED	Biotechnology and Drugs	LONG	16.58	-7.94	HOLD
CTB	Tires	LONG	25.86	-0.81	HOLD
ACTG	Misc. Financial Services	LONG	36.57	2.72	SELL
CMC	Iron and Steel	LONG	17.55	0.80	HOLD
NCT	Real Estate Operations	LONG	5.99	0.00	HOLD
BTH	Personal and Household Prods.	LONG	34.82	6.00	HOLD
CPY	Photography	LONG	21.82	-0.64	HOLD
FINL	Retail (Apparel)	LONG	19.78	-0.75	HOLD
ELGX	Medical Equipment and Supplies	SHORT	7.14	0.71	COVER
SPY	Misc. Financial Services	SHORT	133.26	0.08	HOLD
SPY	Misc. Financial Services	SHORT	133.26	0.08	HOLD
OXM	Apparel/Accessories	LONG	34.22	0.56	HOLD
BBY	Retail (Technology)	LONG	28.15	-1.71	HOLD
CAAS	Auto and Truck Parts	LONG	8.38	-5.52	HOLD
NVMI	Semiconductors	LONG	9.24	-3.65	HOLD
DSGX	Computer Services	LONG	6.72	-0.45	HOLD
WATG	Auto and Truck Parts	LONG	5.11	-2.67	HOLD
MR	Scientific and Technical Instr.	LONG	25.65	0.98	HOLD
SPY	Misc. Financial Services	SHORT	133.26	0.08	SHORT
SPY	Misc. Financial Services	SHORT	133.26	0.08	SHORT
APWR	Construction Services	LONG	4.20	-4.76	BUY
SMA	Medical Equipment and Supplies	LONG	9.61	-0.31	BUY
TODAY SUMMARY				GAINS(%)
LONGS				-0.24
SHORTS				-0.12
TOTAL				-0.13
S&P 500				0.03
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-1.83	0.81	-2.14	-2.27
S&P 500	0.97	0.95	-4.78	1.03