01-Jul-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AVAV	Aerospace and Defense	LONG	35.52	0.48	HOLD
CASC	Auto and Truck Parts	LONG	49.00	3.01	HOLD
CBR	Software and Programming	LONG	5.60	0.90	HOLD
CVI	Oil and Gas Operations	LONG	25.08	1.87	HOLD
DDE	Casinos and Gaming	LONG	3.25	1.56	HOLD
DIOD	Semiconductors	LONG	26.63	2.03	HOLD
HRB	Personal Services	LONG	16.31	1.68	HOLD
HURC	Scientific and Technical Instr.	LONG	34.44	6.92	HOLD
IIIN	Constr. - Supplies and Fixtures	LONG	12.52	-0.16	HOLD
JJSF	Food Processing	LONG	50.77	1.85	HOLD
LYTS	Furniture and Fixtures	LONG	8.19	3.15	HOLD
LZB	Furniture and Fixtures	LONG	10.10	2.33	HOLD
MASC	Misc. Fabricated Products	LONG	7.23	-0.28	HOLD
MMS	Business Services	LONG	41.68	0.76	BUY
RCKY	Footwear	LONG	12.49	1.22	HOLD
RSYS	Computer Hardware	LONG	7.45	2.19	HOLD
SOL	Semiconductors	LONG	5.24	0.38	HOLD
SPA		LONG	10.09	-1.27	HOLD
SPY	Misc. Financial Services	SHORT	133.92	1.48	HOLD
STMP	Retail (Catalog and Mail Order)	LONG	13.46	0.90	HOLD
SWM	Paper and Paper Products	LONG	56.87	1.28	SELL
TICC	Misc. Financial Services	LONG	9.72	1.25	HOLD
TSEM	Semiconductors	LONG	1.19	1.71	HOLD
ZEUS	Misc. Fabricated Products	LONG	27.66	0.47	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.52
SHORTS				1.48
TOTAL				0.04
S&P 500				1.44
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	1.74	1.04	-4.62	1.67
S&P 500	1.49	2.16	-7.20	0.69

30-Jun-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AVAV	Aerospace and Defense	LONG	35.35	1.58	HOLD
CASC	Auto and Truck Parts	LONG	47.57	6.18	HOLD
CBR	Software and Programming	LONG	5.55	0.00	HOLD
CVI	Oil and Gas Operations	LONG	24.62	2.07	HOLD
DDE	Casinos and Gaming	LONG	3.20	-0.93	HOLD
DIOD	Semiconductors	LONG	26.10	2.11	HOLD
HRB	Personal Services	LONG	16.04	-0.80	BUY
HURC	Scientific and Technical Instr.	LONG	32.21	-0.09	HOLD
IIIN	Constr. - Supplies and Fixtures	LONG	12.54	4.33	HOLD
JJSF	Food Processing	LONG	49.85	0.99	HOLD
LTXC	Semiconductors	LONG	8.94	0.90	SELL
LYTS	Furniture and Fixtures	LONG	7.94	-1.24	HOLD
LZB	Furniture and Fixtures	LONG	9.87	1.54	HOLD
MASC	Misc. Fabricated Products	LONG	7.25	0.97	HOLD
RCKY	Footwear	LONG	12.34	5.74	HOLD
RSYS	Computer Hardware	LONG	7.29	0.41	HOLD
SOL	Semiconductors	LONG	5.22	3.57	BUY
SPA		LONG	10.22	9.54	HOLD
SPY	Misc. Financial Services	SHORT	131.97	0.96	SHORT
STMP	Retail (Catalog and Mail Order)	LONG	13.34	1.21	HOLD
SWM	Paper and Paper Products	LONG	56.15	1.35	HOLD
TICC	Misc. Financial Services	LONG	9.60	3.56	HOLD
TSEM	Semiconductors	LONG	1.17	0.86	HOLD
ZEUS	Misc. Fabricated Products	LONG	27.53	1.70	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.04
SHORTS				0.96
TOTAL				1.08
S&P 500				1.01
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	1.69	1.04	-4.62	1.63
S&P 500	0.05	2.05	-7.20	0.02

30-Jun-2011 Daily positions

Pre Opening Longs: AVAV, CASC, CBR, CVI, DDE, DIOD, HURC, IIIN, JJSF, LTXC,
LYTS, LZB, MASC, RCKY, RSYS, SPA, STMP, SWM, TICC, TSEM, ZEUS
Pre Opening Shorts: SPY

29-Jun-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AVAV	Aerospace and Defense	LONG	34.80	-1.83	HOLD
CASC	Auto and Truck Parts	LONG	44.80	-2.08	HOLD
CBR	Software and Programming	LONG	5.55	3.74	HOLD
CROX	Footwear	LONG	25.65	-0.77	SELL
CVI	Oil and Gas Operations	LONG	24.12	1.22	HOLD
DDE	Casinos and Gaming	LONG	3.23	-1.22	HOLD
DIOD	Semiconductors	LONG	25.56	-1.20	BUY
HURC	Scientific and Technical Instr.	LONG	32.24	2.19	HOLD
IIIN	Constr. - Supplies and Fixtures	LONG	12.02	-1.23	HOLD
JJSF	Food Processing	LONG	49.36	0.26	HOLD
LTXC	Semiconductors	LONG	8.86	0.80	HOLD
LYTS	Furniture and Fixtures	LONG	8.04	0.00	HOLD
LZB	Furniture and Fixtures	LONG	9.72	-0.61	HOLD
MASC	Misc. Fabricated Products	LONG	7.18	-0.83	HOLD
RCKY	Footwear	LONG	11.67	-0.43	HOLD
RSYS	Computer Hardware	LONG	7.26	-1.89	BUY
SPA		LONG	9.33	4.83	HOLD
SPY	Misc. Financial Services	SHORT	130.72	0.86	HOLD
STMP	Retail (Catalog and Mail Order)	LONG	13.18	-0.53	HOLD
SWM	Paper and Paper Products	LONG	55.40	0.86	HOLD
TICC	Misc. Financial Services	LONG	9.27	-1.70	HOLD
TSEM	Semiconductors	LONG	1.16	1.75	HOLD
WSTL	Communications Equipment	LONG	3.57	-0.56	SELL
ZEUS	Misc. Fabricated Products	LONG	27.07	2.07	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.28
SHORTS				0.86
TOTAL				-0.57
S&P 500				0.83
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	0.60	0.98	-4.62	0.61
S&P 500	-0.96	2.02	-7.20	-0.47

29-Jun-2011 Daily positions

Pre Opening Longs: AVAV, CASC, CBR, CROX, CVI, DDE, HURC, IIIN, JJSF, LTXC,
LYTS, LZB, MASC, RCKY, SPA, STMP, SWM, TICC, TSEM, WSTL, ZEUS
Pre Opening Shorts: SPY

28-Jun-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AVAV	Aerospace and Defense	LONG	35.45	3.02	BUY
CASC	Auto and Truck Parts	LONG	45.95	1.46	HOLD
CBR	Software and Programming	LONG	5.35	0.38	HOLD
CROX	Footwear	LONG	25.85	2.05	HOLD
CVI	Oil and Gas Operations	LONG	23.83	4.02	HOLD
DDE	Casinos and Gaming	LONG	3.27	0.62	HOLD
DIOD	Semiconductors	LONG	25.87	3.52	SELL
HURC	Scientific and Technical Instr.	LONG	31.55	1.81	HOLD
IIIN	Constr. - Supplies and Fixtures	LONG	12.17	1.25	HOLD
JJSF	Food Processing	LONG	49.23	0.72	HOLD
LTXC	Semiconductors	LONG	8.79	0.46	HOLD
LYTS	Furniture and Fixtures	LONG	8.04	-2.78	HOLD
LZB	Furniture and Fixtures	LONG	9.78	0.72	HOLD
MASC	Misc. Fabricated Products	LONG	7.24	-0.41	HOLD
RCKY	Footwear	LONG	11.72	1.03	HOLD
RSYS	Computer Hardware	LONG	7.40	0.68	SELL
SPA		LONG	8.90	-1.00	HOLD
SPY	Misc. Financial Services	SHORT	129.61	1.31	HOLD
STMP	Retail (Catalog and Mail Order)	LONG	13.25	1.07	HOLD
SWM	Paper and Paper Products	LONG	54.93	2.35	HOLD
TICC	Misc. Financial Services	LONG	9.43	-0.74	HOLD
TSEM	Semiconductors	LONG	1.14	0.00	HOLD
WSTL	Communications Equipment	LONG	3.59	0.28	HOLD
ZEUS	Misc. Fabricated Products	LONG	26.52	1.75	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.87
SHORTS				1.31
TOTAL				-0.43
S&P 500				1.29
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	2.33	1.15	-4.61	2.03
S&P 500	-1.77	2.03	-7.20	-0.87

28-Jun-2011 Daily positions

Pre Opening Longs: CASC, CBR, CROX, CVI, DDE, DIOD, HURC, IIIN, JJSF, LTXC,
LYTS, LZB, MASC, RCKY, RSYS, SPA, STMP, SWM, TICC, TSEM, WSTL, ZEUS
Pre Opening Shorts: SPY

27-Jun-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
CASC	Auto and Truck Parts	LONG	45.29	2.91	HOLD
CBR	Software and Programming	LONG	5.33	2.30	HOLD
CROX	Footwear	LONG	25.33	2.10	HOLD
CVI	Oil and Gas Operations	LONG	22.91	0.53	HOLD
DDE	Casinos and Gaming	LONG	3.25	0.00	HOLD
DIOD	Semiconductors	LONG	24.99	1.13	HOLD
HURC	Scientific and Technical Instr.	LONG	30.99	0.81	HOLD
IIIN	Constr. - Supplies and Fixtures	LONG	12.02	0.33	HOLD
JJSF	Food Processing	LONG	48.88	0.74	HOLD
LTXC	Semiconductors	LONG	8.75	-0.91	HOLD
LYTS	Furniture and Fixtures	LONG	8.27	1.60	HOLD
LZB	Furniture and Fixtures	LONG	9.71	3.63	HOLD
MASC	Misc. Fabricated Products	LONG	7.27	-0.55	HOLD
RCKY	Footwear	LONG	11.60	-1.19	HOLD
RSYS	Computer Hardware	LONG	7.35	1.38	HOLD
SPA		LONG	8.99	-0.11	HOLD
SPY	Misc. Financial Services	SHORT	127.94	0.89	HOLD
STMP	Retail (Catalog and Mail Order)	LONG	13.11	2.02	HOLD
SWM	Paper and Paper Products	LONG	53.67	-0.06	HOLD
TICC	Misc. Financial Services	LONG	9.50	-0.63	HOLD
TSEM	Semiconductors	LONG	1.14	0.00	HOLD
WSTL	Communications Equipment	LONG	3.58	4.37	HOLD
ZEUS	Misc. Fabricated Products	LONG	26.07	1.07	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.98
SHORTS				0.89
TOTAL				0.09
S&P 500				0.92
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO
Portfolio	3.10	1.21	-4.61	2.55
S&P 500	-3.02	2.09	-7.20	-1.45

27-Jun-2011 Daily positions

Pre Opening Longs: CASC, CBR, CROX, CVI, DDE, DIOD, HURC, IIIN, JJSF, LTXC,
LYTS, LZB, MASC, RCKY, RSYS, SPA, STMP, SWM, TICC, TSEM, WSTL, ZEUS
Pre Opening Shorts: SPY