15-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
COHU	Semiconductors	LONG	14.13	-0.98	HOLD
MBT		LONG	20.78	0.82	SELL
TSO	Oil and Gas Operations	LONG	26.54	1.57	HOLD
GES	Retail (Apparel)	LONG	38.90	1.81	HOLD
FDML	Auto and Truck Parts	LONG	25.17	0.48	HOLD
JBL	Electronic Instr. and Controls	LONG	19.18	1.21	HOLD
RIMM	Communications Equipment	LONG	53.40	-0.96	HOLD
MED	Biotechnology and Drugs	LONG	17.07	1.49	HOLD
CTB	Tires	LONG	25.05	1.46	HOLD
CMC	Iron and Steel	LONG	16.27	0.99	HOLD
NCT	Real Estate Operations	LONG	5.81	2.11	HOLD
BTH	Personal and Household Prods.	LONG	44.28	1.93	HOLD
FINL	Retail (Apparel)	LONG	21.06	3.95	HOLD
SPY	Misc. Financial Services	SHORT	132.04	0.36	HOLD
SPY	Misc. Financial Services	SHORT	132.04	0.36	HOLD
BBY	Retail (Technology)	LONG	28.85	-2.07	HOLD
CAAS	Auto and Truck Parts	LONG	9.70	0.00	HOLD
NVMI	Semiconductors	LONG	10.09	0.90	HOLD
WATG	Auto and Truck Parts	LONG	5.10	-1.73	HOLD
MR	Scientific and Technical Instr.	LONG	26.90	0.86	HOLD
SPY	Misc. Financial Services	SHORT	132.04	0.36	HOLD
SPY	Misc. Financial Services	SHORT	132.04	0.36	HOLD
SMA	Medical Equipment and Supplies	LONG	10.18	-0.10	HOLD
AIR	Aerospace and Defense	LONG	25.64	1.06	HOLD
SPY	Misc. Financial Services	SHORT	132.04	0.36	HOLD
SOL	Semiconductors	LONG	9.21	-3.26	HOLD
CHDN	Casinos and Gaming	LONG	41.15	2.39	HOLD
NNBR	Misc. Fabricated Products	LONG	16.80	1.33	HOLD
SSI	Retail (Apparel)	LONG	18.96	-0.52	HOLD
SID	Misc. Fabricated Products	LONG	15.66	0.38	HOLD
CCL	Recreational Activities	LONG	37.98	1.36	BUY
TODAY SUMMARY				GAINS(%)
LONGS				0.60
SHORTS				0.36
TOTAL				0.24
S&P 500				0.39
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	0.04	0.78	-2.01	0.05
S&P 500	-0.03	0.80	-4.78	-0.03

15-Apr-2011 Daily positions

Pre Opening Longs: AIR, BBY, BTH, CAAS, CHDN, CMC, COHU, CTB, FDML, FINL,
GES, JBL, MBT, MED, MR, NCT, NNBR, NVMI, RIMM, SID, SMA, SOL, SSI, TSO,
WATG
Pre Opening Shorts: SPY

14-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
COHU	Semiconductors	LONG	14.27	1.21	HOLD
MBT	Communications Services	LONG	20.61	-0.24	HOLD
TSO	Oil and Gas Operations	LONG	26.13	1.01	HOLD
GES	Retail (Apparel)	LONG	38.21	-1.93	HOLD
FDML	Auto and Truck Parts	LONG	25.05	0.12	HOLD
JBL	Electronic Instr. and Controls	LONG	18.95	-1.66	HOLD
RIMM	Communications Equipment	LONG	53.92	-1.15	HOLD
MED	Biotechnology and Drugs	LONG	16.82	0.84	HOLD
CTB	Tires	LONG	24.69	-0.20	HOLD
CMC	Iron and Steel	LONG	16.11	0.37	HOLD
NCT	Real Estate Operations	LONG	5.69	1.25	HOLD
BTH	Personal and Household Prods.	LONG	43.44	1.83	HOLD
FINL	Retail (Apparel)	LONG	20.26	1.20	HOLD
SPY	Misc. Financial Services	SHORT	131.56	0.08	HOLD
SPY	Misc. Financial Services	SHORT	131.56	0.08	HOLD
BBY	Retail (Technology)	LONG	29.46	-2.06	HOLD
CAAS	Auto and Truck Parts	LONG	9.73	-4.23	HOLD
NVMI	Semiconductors	LONG	10.00	-0.70	HOLD
WATG	Auto and Truck Parts	LONG	5.19	-2.26	HOLD
MR	Scientific and Technical Instr.	LONG	26.67	1.64	HOLD
SPY	Misc. Financial Services	SHORT	131.56	0.08	HOLD
SPY	Misc. Financial Services	SHORT	131.56	0.08	HOLD
SMA	Medical Equipment and Supplies	LONG	10.19	2.10	HOLD
AIR	Aerospace and Defense	LONG	25.37	-0.70	HOLD
SPY	Misc. Financial Services	SHORT	131.56	0.08	HOLD
SOL	Semiconductors	LONG	9.52	0.95	HOLD
CHDN	Casinos and Gaming	LONG	40.19	0.65	HOLD
NNBR	Misc. Fabricated Products	LONG	16.58	-1.66	HOLD
SSI	Retail (Apparel)	LONG	19.06	0.37	HOLD
SID	Misc. Fabricated Products	LONG	15.60	-0.32	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.14
SHORTS				0.08
TOTAL				-0.22
S&P 500				0.01
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-0.52	0.77	-2.14	-0.67
S&P 500	-0.42	0.81	-4.78	-0.51

13-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	28.95	1.29	SELL
MYL	Biotechnology and Drugs	LONG	23.49	0.04	SELL
COHU	Semiconductors	LONG	14.31	-1.04	HOLD
MBT	Communications Services	LONG	20.58	0.24	HOLD
TSO	Oil and Gas Operations	LONG	26.25	4.08	HOLD
GES	Retail (Apparel)	LONG	38.69	-1.70	HOLD
FDML	Auto and Truck Parts	LONG	25.12	0.68	HOLD
JBL	Electronic Instr. and Controls	LONG	19.27	0.94	HOLD
RIMM	Communications Equipment	LONG	54.83	2.07	HOLD
MED	Biotechnology and Drugs	LONG	16.74	0.84	HOLD
CTB	Tires	LONG	24.81	0.28	HOLD
CMC	Iron and Steel	LONG	16.20	-1.34	HOLD
NCT	Real Estate Operations	LONG	5.62	5.24	HOLD
BTH	Personal and Household Prods.	LONG	42.78	0.12	HOLD
CPY	Photography	LONG	20.85	1.31	SELL
FINL	Retail (Apparel)	LONG	20.22	-0.10	HOLD
SPY	Misc. Financial Services	SHORT	131.46	-0.01	HOLD
SPY	Misc. Financial Services	SHORT	131.46	-0.01	HOLD
BBY	Retail (Technology)	LONG	30.25	-0.46	HOLD
CAAS	Auto and Truck Parts	LONG	9.96	2.68	HOLD
NVMI	Semiconductors	LONG	10.23	1.39	HOLD
WATG	Auto and Truck Parts	LONG	5.33	5.75	HOLD
MR	Scientific and Technical Instr.	LONG	26.39	0.57	HOLD
SPY	Misc. Financial Services	SHORT	131.46	-0.01	HOLD
SPY	Misc. Financial Services	SHORT	131.46	-0.01	HOLD
APWR	Construction Services	LONG	4.07	-1.93	SELL
SMA	Medical Equipment and Supplies	LONG	10.03	0.50	HOLD
AIR	Aerospace and Defense	LONG	25.55	-1.20	HOLD
SPY	Misc. Financial Services	SHORT	131.46	-0.01	HOLD
ESLT	Aerospace and Defense	LONG	56.10	0.20	SELL
SOL	Semiconductors	LONG	9.46	3.16	BUY
CHDN	Casinos and Gaming	LONG	40.15	0.83	BUY
NNBR	Misc. Fabricated Products	LONG	16.77	0.42	BUY
SSI	Retail (Apparel)	LONG	19.05	0.05	BUY
SID	Misc. Fabricated Products	LONG	15.72	-3.38	BUY
TODAY SUMMARY				GAINS(%)
LONGS				0.82
SHORTS				-0.01
TOTAL				0.83
S&P 500				0.02
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	0.03	0.79	-2.14	0.04
S&P 500	-0.42	0.83	-4.78	-0.51

12-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	28.58	-2.82	HOLD
MYL	Biotechnology and Drugs	LONG	23.48	-0.51	HOLD
COHU	Semiconductors	LONG	14.46	-4.43	HOLD
MBT	Communications Services	LONG	20.53	-0.92	HOLD
TSO	Oil and Gas Operations	LONG	25.22	-1.68	HOLD
GES	Retail (Apparel)	LONG	39.36	-0.28	HOLD
FDML	Auto and Truck Parts	LONG	24.95	-0.68	HOLD
JBL	Electronic Instr. and Controls	LONG	19.09	-0.93	HOLD
CCL	Recreational Activities	LONG	38.43	1.53	SELL
RIMM	Communications Equipment	LONG	53.72	-1.69	HOLD
MED	Biotechnology and Drugs	LONG	16.60	-1.78	HOLD
CTB	Tires	LONG	24.74	1.89	HOLD
CMC	Iron and Steel	LONG	16.42	-0.36	HOLD
NCT	Real Estate Operations	LONG	5.34	-2.38	HOLD
BTH	Personal and Household Prods.	LONG	42.73	4.22	HOLD
CPY	Photography	LONG	20.58	-5.98	HOLD
FINL	Retail (Apparel)	LONG	20.24	-1.51	HOLD
SPY	Misc. Financial Services	SHORT	131.47	-0.75	HOLD
SPY	Misc. Financial Services	SHORT	131.47	-0.75	HOLD
BBY	Retail (Technology)	LONG	30.39	-0.39	HOLD
CAAS	Auto and Truck Parts	LONG	9.70	-9.18	HOLD
NVMI	Semiconductors	LONG	10.09	-4.45	HOLD
WATG	Auto and Truck Parts	LONG	5.04	-5.97	HOLD
MR	Scientific and Technical Instr.	LONG	26.24	0.11	HOLD
SPY	Misc. Financial Services	SHORT	131.47	-0.75	HOLD
SPY	Misc. Financial Services	SHORT	131.47	-0.75	HOLD
APWR	Construction Services	LONG	4.15	-2.81	HOLD
SMA	Medical Equipment and Supplies	LONG	9.98	0.50	HOLD
AIR	Aerospace and Defense	LONG	25.86	-0.42	HOLD
SPY	Misc. Financial Services	SHORT	131.47	-0.75	HOLD
ESLT	Aerospace and Defense	LONG	55.99	0.57	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.55
SHORTS				-0.75
TOTAL				-0.80
S&P 500				-0.78
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	-0.79	0.79	-2.14	-1.00
S&P 500	-0.44	0.84	-4.78	-0.53

12-Apr-2011 Daily positions

Pre Opening Longs: AIR, APWR, BBY, BTH, CAAS, CCL, CMC, COHU, CPY, CTB,
ESLT, FDML, FINL, GES, JBL, MBT, MED, MR, MTL, MYL, NCT, NVMI, RIMM, SMA,
TSO, WATG
Pre Opening Shorts: SPY

11-Apr-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
MTL	Iron and Steel	LONG	29.41	-2.19	HOLD
MYL	Biotechnology and Drugs	LONG	23.60	0.68	HOLD
COHU	Semiconductors	LONG	15.13	-0.53	HOLD
MBT	Communications Services	LONG	20.72	-2.91	HOLD
TSO	Oil and Gas Operations	LONG	25.65	-0.54	HOLD
GES	Retail (Apparel)	LONG	39.47	0.03	HOLD
FDML	Auto and Truck Parts	LONG	25.12	0.00	HOLD
JBL	Electronic Instr. and Controls	LONG	19.27	-2.63	HOLD
CCL	Recreational Activities	LONG	37.85	1.20	HOLD
RIMM	Communications Equipment	LONG	54.65	-0.25	HOLD
MED	Biotechnology and Drugs	LONG	16.90	-0.47	HOLD
CTB	Tires	LONG	24.28	-1.54	HOLD
CMC	Iron and Steel	LONG	16.48	-2.94	HOLD
NCT	Real Estate Operations	LONG	5.47	-6.66	HOLD
BTH	Personal and Household Prods.	LONG	41.00	-0.02	HOLD
CPY	Photography	LONG	21.89	-0.73	HOLD
FINL	Retail (Apparel)	LONG	20.55	0.78	HOLD
SPY	Misc. Financial Services	SHORT	132.46	-0.30	HOLD
SPY	Misc. Financial Services	SHORT	132.46	-0.30	HOLD
BBY	Retail (Technology)	LONG	30.51	2.73	HOLD
CAAS	Auto and Truck Parts	LONG	10.68	-1.02	HOLD
NVMI	Semiconductors	LONG	10.56	4.87	HOLD
WATG	Auto and Truck Parts	LONG	5.36	-0.74	HOLD
MR	Scientific and Technical Instr.	LONG	26.21	-0.08	HOLD
SPY	Misc. Financial Services	SHORT	132.46	-0.30	HOLD
SPY	Misc. Financial Services	SHORT	132.46	-0.30	HOLD
APWR	Construction Services	LONG	4.27	-2.06	HOLD
SMA	Medical Equipment and Supplies	LONG	9.93	0.30	HOLD
AIR	Aerospace and Defense	LONG	25.97	-1.10	HOLD
SPY	Misc. Financial Services	SHORT	132.46	-0.30	HOLD
ESLT	Aerospace and Defense	LONG	55.67	3.48	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.47
SHORTS				-0.30
TOTAL				-0.17
S&P 500				-0.28
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	0.01	0.79	-2.14	0.02
S&P 500	0.34	0.85	-4.78	0.40