11-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	7.39	2.92	HOLD
BGFV	Retail (Specialty)	LONG	8.97	4.79	HOLD
BKR	Construction Services	LONG	21.18	3.42	BUY
COHU	Semiconductors	LONG	10.97	2.81	HOLD
CPE	Oil and Gas Operations	LONG	5.49	1.10	HOLD
CSS	Printing and Publishing	LONG	18.08	-0.06	HOLD
CVU	Aerospace and Defense	LONG	13.45	0.98	BUY
DLA	Apparel/Accessories	LONG	17.23	1.12	HOLD
DTLK	Computer Services	LONG	8.92	6.70	HOLD
HA	Airline	LONG	5.44	4.02	HOLD
HOFT	Furniture and Fixtures	LONG	10.06	1.11	SELL
LCRY	Electronic Instr. and Controls	LONG	9.68	3.64	HOLD
NBIX	Biotechnology and Drugs	LONG	6.90	1.32	HOLD
PACR	Misc. Transportation	LONG	4.88	4.27	HOLD
RSYS	Computer Hardware	LONG	5.30	0.57	HOLD
RTEC	Semiconductors	LONG	8.77	3.42	HOLD
SENEA	Food Processing	LONG	21.79	0.51	HOLD
SIGA	Biotechnology and Drugs	LONG	2.96	-0.67	HOLD
SPA	Semiconductors	LONG	7.61	-2.44	SELL
SPY		SHORT	126.66	1.88	HOLD
SWIR	Communications Equipment	LONG	7.19	0.70	BUY
TSEM	Semiconductors	LONG	0.76	2.70	HOLD
VICL	Biotechnology and Drugs	LONG	3.67	3.38	SELL
XRTX	Computer Storage Devices	LONG	14.51	2.18	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.17
SHORTS				1.88
TOTAL				0.29
S&P 500				1.88
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-8.68	3.04	-17.53	-4.05	-0.70
S&P 500	-2.94	4.51	-18.61	-0.93	-0.23

11-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, COHU, CPE, CSS, DLA, DTLK, HA, HOFT, LCRY,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SPA, TSEM, VICL, XRTX
Pre Opening Shorts: SPY

10-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	7.18	5.43	HOLD
BGFV	Retail (Specialty)	LONG	8.56	0.35	HOLD
COHU	Semiconductors	LONG	10.67	2.30	HOLD
CPE	Oil and Gas Operations	LONG	5.43	2.84	HOLD
CSS	Printing and Publishing	LONG	18.09	-1.42	HOLD
DLA	Apparel/Accessories	LONG	17.04	2.77	HOLD
DTLK	Computer Services	LONG	8.36	-3.13	HOLD
HA	Airline	LONG	5.23	-2.97	HOLD
HOFT	Furniture and Fixtures	LONG	9.95	-1.09	HOLD
LCRY	Electronic Instr. and Controls	LONG	9.34	-3.81	HOLD
NBIX	Biotechnology and Drugs	LONG	6.81	-2.44	HOLD
PACR	Misc. Transportation	LONG	4.68	1.08	HOLD
RSYS	Computer Hardware	LONG	5.27	0.38	HOLD
RTEC	Semiconductors	LONG	8.48	0.47	HOLD
SENEA	Food Processing	LONG	21.68	3.93	HOLD
SIGA	Biotechnology and Drugs	LONG	2.98	2.76	HOLD
SPA	Semiconductors	LONG	7.80	-1.39	HOLD
SPY		SHORT	124.32	0.94	HOLD
TSEM	Semiconductors	LONG	0.74	1.09	HOLD
VICL	Biotechnology and Drugs	LONG	3.55	-1.66	HOLD
XRTX	Computer Storage Devices	LONG	14.20	1.07	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.33
SHORTS				0.94
TOTAL				-0.61
S&P 500				0.94
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-8.94	3.04	-17.53	-4.19	-0.73
S&P 500	-4.73	4.26	-18.61	-1.60	-0.37

10-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, COHU, CPE, CSS, DLA, DTLK, HA, HOFT, LCRY,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SPA, TSEM, VICL, XRTX
Pre Opening Shorts: SPY

09-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	6.81	-1.30	HOLD
BGFV	Retail (Specialty)	LONG	8.53	-5.12	HOLD
COHU	Semiconductors	LONG	10.43	-6.87	HOLD
CPE	Oil and Gas Operations	LONG	5.28	-7.37	HOLD
CSS	Printing and Publishing	LONG	18.35	-4.03	HOLD
DLA	Apparel/Accessories	LONG	16.58	-5.15	HOLD
DTLK	Computer Services	LONG	8.63	-7.20	HOLD
HA	Airline	LONG	5.39	-3.92	HOLD
HOFT	Furniture and Fixtures	LONG	10.06	-0.10	HOLD
LCRY	Electronic Instr. and Controls	LONG	9.71	-7.08	HOLD
NBIX	Biotechnology and Drugs	LONG	6.98	-4.77	HOLD
PACR	Misc. Transportation	LONG	4.63	-4.93	HOLD
RSYS	Computer Hardware	LONG	5.25	-5.41	HOLD
RTEC	Semiconductors	LONG	8.44	-3.54	HOLD
SENEA	Food Processing	LONG	20.86	-7.04	HOLD
SIGA	Biotechnology and Drugs	LONG	2.90	-5.23	HOLD
SPA	Semiconductors	LONG	7.91	-7.59	HOLD
SPY		SHORT	123.16	-3.69	HOLD
TSEM	Semiconductors	LONG	0.73	-7.33	HOLD
VICL	Biotechnology and Drugs	LONG	3.61	-5.99	HOLD
XRTX	Computer Storage Devices	LONG	14.05	-5.89	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-5.29
SHORTS				-3.69
TOTAL				-1.60
S&P 500				-3.69
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-8.38	3.04	-17.53	-3.95	-0.69
S&P 500	-5.62	4.16	-18.61	-1.95	-0.44

09-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, COHU, CPE, CSS, DLA, DTLK, HA, HOFT, LCRY,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SPA, TSEM, VICL, XRTX
Pre Opening Shorts: SPY

08-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	6.90	1.47	HOLD
BGFV	Retail (Specialty)	LONG	8.99	0.22	HOLD
COHU	Semiconductors	LONG	11.20	1.36	HOLD
CPE	Oil and Gas Operations	LONG	5.70	1.42	HOLD
CSS	Printing and Publishing	LONG	19.12	-0.78	HOLD
DLA	Apparel/Accessories	LONG	17.48	1.98	HOLD
DTLK	Computer Services	LONG	9.30	0.22	HOLD
HA	Airline	LONG	5.61	0.18	HOLD
HOFT	Furniture and Fixtures	LONG	10.07	-0.10	HOLD
LCRY	Electronic Instr. and Controls	LONG	10.45	1.85	HOLD
NBIX	Biotechnology and Drugs	LONG	7.33	0.27	HOLD
PACR	Misc. Transportation	LONG	4.87	0.83	HOLD
RSYS	Computer Hardware	LONG	5.55	-0.89	HOLD
RTEC	Semiconductors	LONG	8.75	0.92	HOLD
SENEA	Food Processing	LONG	22.44	5.75	HOLD
SIGA	Biotechnology and Drugs	LONG	3.06	-0.97	HOLD
SPA	Semiconductors	LONG	8.56	-0.23	HOLD
SPY		SHORT	127.88	1.28	HOLD
TSEM	Semiconductors	LONG	0.79	-1.14	HOLD
VICL	Biotechnology and Drugs	LONG	3.84	6.96	HOLD
XRTX	Computer Storage Devices	LONG	14.93	1.63	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.05
SHORTS				1.28
TOTAL				-0.23
S&P 500				1.28
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-6.89	3.09	-17.53	-3.22	-0.57
S&P 500	-2.00	4.70	-18.61	-0.62	-0.16

08-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, COHU, CPE, CSS, DLA, DTLK, HA, HOFT, LCRY,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SPA, TSEM, VICL, XRTX
Pre Opening Shorts: SPY

07-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	6.80	-0.73	BUY
BGFV	Retail (Specialty)	LONG	8.97	0.00	HOLD
COHU	Semiconductors	LONG	11.05	-1.34	HOLD
CPE	Oil and Gas Operations	LONG	5.62	-0.88	BUY
CSS	Printing and Publishing	LONG	19.27	-1.93	BUY
DLA	Apparel/Accessories	LONG	17.14	1.18	HOLD
DTLK	Computer Services	LONG	9.28	-5.98	HOLD
HA	Airline	LONG	5.60	0.00	HOLD
HOFT	Furniture and Fixtures	LONG	10.18	-0.20	HOLD
LCRY	Electronic Instr. and Controls	LONG	10.26	0.49	HOLD
LCUT	Personal and Household Prods.	LONG	12.08	-0.08	SELL
MOV	Jewelry and Silverware	LONG	16.54	-1.72	SELL
NBIX	Biotechnology and Drugs	LONG	7.31	2.24	HOLD
PACR	Misc. Transportation	LONG	4.83	-1.43	HOLD
RSYS	Computer Hardware	LONG	5.60	-1.75	HOLD
RTEC	Semiconductors	LONG	8.67	0.00	HOLD
SENEA	Food Processing	LONG	21.22	-1.16	BUY
SFE	Business Services	LONG	16.42	-0.91	SELL
SIGA	Biotechnology and Drugs	LONG	3.09	-2.52	HOLD
SPA	Semiconductors	LONG	8.58	-0.46	HOLD
SPY		SHORT	126.26	0.62	HOLD
TSEM	Semiconductors	LONG	0.80	2.44	HOLD
VICL	Biotechnology and Drugs	LONG	3.59	-3.75	HOLD
XRTX	Computer Storage Devices	LONG	14.69	-0.34	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.74
SHORTS				0.62
TOTAL				-1.37
S&P 500				0.62
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-6.62	3.11	-17.53	-3.10	-0.55
S&P 500	-3.24	4.50	-18.61	-1.06	-0.26

07-Nov-2011 Daily positions

Pre Opening Longs: BGFV, COHU, DLA, DTLK, HA, HOFT, LCRY, LCUT, MOV, NBIX,
PACR, RSYS, RTEC, SFE, SIGA, SPA, TSEM, VICL, XRTX
Pre Opening Shorts: SPY