18-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ASYS	Semiconductors	LONG	8.73	0.46	BUY
BBW	Retail (Specialty)	LONG	8.01	-1.48	HOLD
BGFV	Retail (Specialty)	LONG	9.09	1.22	HOLD
BKR	Construction Services	LONG	20.69	1.82	HOLD
COHU	Semiconductors	LONG	10.39	-0.38	HOLD
CPE	Oil and Gas Operations	LONG	4.95	-1.98	HOLD
CSS	Printing and Publishing	LONG	20.36	5.88	HOLD
CVU	Aerospace and Defense	LONG	13.89	0.90	HOLD
DTLK	Computer Services	LONG	7.83	-2.25	HOLD
FRPT	Aerospace and Defense	LONG	5.50	-0.18	BUY
HA	Airline	LONG	5.63	-2.09	HOLD
HGG	Retail (Technology)	LONG	15.14	-2.13	HOLD
JST	Electronic Instr. and Controls	LONG	8.50	-1.73	HOLD
NBIX	Biotechnology and Drugs	LONG	6.24	-1.89	HOLD
PACR	Misc. Transportation	LONG	4.63	0.22	HOLD
RSYS	Computer Hardware	LONG	4.54	0.67	SELL
RTEC	Semiconductors	LONG	7.99	-3.39	HOLD
SENEA	Food Processing	LONG	21.49	1.42	HOLD
SIGA	Biotechnology and Drugs	LONG	2.52	4.56	SELL
SPY	Misc. Financial Services	SHORT	121.98	-0.10	HOLD
SWIR	Communications Equipment	LONG	6.80	-0.73	HOLD
TSEM	Semiconductors	LONG	0.71	0.41	HOLD
XRTX	Computer Storage Devices	LONG	14.15	-0.98	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.10
SHORTS				-0.10
TOTAL				0.01
S&P 500				-0.10
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-9.15	3.01	-17.53	-4.18	-0.72
S&P 500	-6.52	4.03	-18.61	-2.24	-0.49

18-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, BKR, COHU, CPE, CSS, CVU, DTLK, HA, HGG, JST,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SWIR, TSEM, XRTX
Pre Opening Shorts: SPY

17-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	8.13	-0.12	HOLD
BGFV	Retail (Specialty)	LONG	8.98	0.00	HOLD
BKR	Construction Services	LONG	20.32	-1.12	HOLD
COHU	Semiconductors	LONG	10.43	0.38	HOLD
CPE	Oil and Gas Operations	LONG	5.05	-3.44	HOLD
CSS	Printing and Publishing	LONG	19.23	7.49	HOLD
CVU	Aerospace and Defense	LONG	13.77	-1.59	HOLD
DTLK	Computer Services	LONG	8.01	-9.39	HOLD
HA	Airline	LONG	5.75	-1.20	HOLD
HGG	Retail (Technology)	LONG	15.47	-3.97	HOLD
JST	Electronic Instr. and Controls	LONG	8.65	-1.37	HOLD
NBIX	Biotechnology and Drugs	LONG	6.36	-2.30	HOLD
PACR	Misc. Transportation	LONG	4.62	-0.86	HOLD
RSYS	Computer Hardware	LONG	4.51	-6.82	HOLD
RTEC	Semiconductors	LONG	8.27	0.61	HOLD
SENEA	Food Processing	LONG	21.19	-0.19	HOLD
SIGA	Biotechnology and Drugs	LONG	2.41	-2.82	HOLD
SPY	Misc. Financial Services	SHORT	122.11	-1.59	HOLD
SWIR	Communications Equipment	LONG	6.85	0.44	HOLD
TSEM	Semiconductors	LONG	0.71	-1.89	HOLD
XRTX	Computer Storage Devices	LONG	14.29	-0.90	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.45
SHORTS				-1.59
TOTAL				0.14
S&P 500				-1.59
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-9.16	3.02	-17.53	-4.20	-0.72
S&P 500	-6.43	4.05	-18.61	-2.21	-0.48

17-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, BKR, COHU, CPE, CSS, CVU, DTLK, HA, HGG, JST,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SWIR, TSEM, XRTX
Pre Opening Shorts: SPY

16-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	8.14	-0.12	HOLD
BGFV	Retail (Specialty)	LONG	8.98	-1.32	HOLD
BKR	Construction Services	LONG	20.55	-3.29	HOLD
COHU	Semiconductors	LONG	10.39	-2.72	HOLD
CPE	Oil and Gas Operations	LONG	5.23	-3.15	HOLD
CSS	Printing and Publishing	LONG	17.89	-2.67	HOLD
CVU	Aerospace and Defense	LONG	13.99	4.40	HOLD
DTLK	Computer Services	LONG	8.84	-1.56	HOLD
HA	Airline	LONG	5.82	-1.69	HOLD
HGG	Retail (Technology)	LONG	16.11	0.44	HOLD
JST	Electronic Instr. and Controls	LONG	8.77	-2.01	HOLD
NBIX	Biotechnology and Drugs	LONG	6.51	-2.98	HOLD
PACR	Misc. Transportation	LONG	4.66	-0.21	HOLD
RSYS	Computer Hardware	LONG	4.84	-6.20	HOLD
RTEC	Semiconductors	LONG	8.22	-1.08	HOLD
SENEA	Food Processing	LONG	21.23	-4.67	HOLD
SIGA	Biotechnology and Drugs	LONG	2.48	-6.77	HOLD
SPY	Misc. Financial Services	SHORT	124.08	-1.59	HOLD
SWIR	Communications Equipment	LONG	6.82	-3.26	HOLD
TSEM	Semiconductors	LONG	0.72	-5.87	HOLD
XRTX	Computer Storage Devices	LONG	14.42	-0.83	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.28
SHORTS				-1.59
TOTAL				-0.69
S&P 500				-1.59
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-9.29	3.02	-17.53	-4.28	-0.74
S&P 500	-4.91	4.22	-18.61	-1.64	-0.37

16-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, BKR, COHU, CPE, CSS, CVU, DTLK, HA, HGG, JST,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SWIR, TSEM, XRTX
Pre Opening Shorts: SPY

15-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	8.15	1.87	HOLD
BGFV	Retail (Specialty)	LONG	9.10	3.88	HOLD
BKR	Construction Services	LONG	21.25	1.19	HOLD
COHU	Semiconductors	LONG	10.68	0.56	HOLD
CPE	Oil and Gas Operations	LONG	5.40	3.05	HOLD
CSS	Printing and Publishing	LONG	18.38	1.72	HOLD
CVU	Aerospace and Defense	LONG	13.40	-1.47	HOLD
DTLK	Computer Services	LONG	8.98	4.30	HOLD
HA	Airline	LONG	5.92	2.07	HOLD
HGG	Retail (Technology)	LONG	16.04	0.19	HOLD
JST	Electronic Instr. and Controls	LONG	8.95	-1.00	HOLD
NBIX	Biotechnology and Drugs	LONG	6.71	-0.59	HOLD
PACR	Misc. Transportation	LONG	4.67	1.52	HOLD
RSYS	Computer Hardware	LONG	5.16	1.78	HOLD
RTEC	Semiconductors	LONG	8.31	-0.24	HOLD
SENEA	Food Processing	LONG	22.27	4.85	HOLD
SIGA	Biotechnology and Drugs	LONG	2.66	0.00	HOLD
SPY	Misc. Financial Services	SHORT	126.08	0.50	HOLD
SWIR	Communications Equipment	LONG	7.05	-1.12	HOLD
TSEM	Semiconductors	LONG	0.77	-0.65	HOLD
XRTX	Computer Storage Devices	LONG	14.54	0.41	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.12
SHORTS				0.50
TOTAL				0.62
S&P 500				0.50
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-8.66	3.03	-17.53	-4.01	-0.69
S&P 500	-3.38	4.43	-18.61	-1.08	-0.26

15-Nov-2011 Daily positions

Pre Opening Longs: BBW, BGFV, BKR, COHU, CPE, CSS, CVU, DTLK, HA, HGG, JST,
NBIX, PACR, RSYS, RTEC, SENEA, SIGA, SWIR, TSEM, XRTX
Pre Opening Shorts: SPY

14-Nov-2011 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
BBW	Retail (Specialty)	LONG	8.00	8.25	HOLD
BGFV	Retail (Specialty)	LONG	8.76	-2.34	HOLD
BKR	Construction Services	LONG	21.00	-0.85	HOLD
COHU	Semiconductors	LONG	10.62	-3.19	HOLD
CPE	Oil and Gas Operations	LONG	5.24	-4.55	HOLD
CSS	Printing and Publishing	LONG	18.07	-0.06	HOLD
CVU	Aerospace and Defense	LONG	13.60	1.12	HOLD
DLA	Apparel/Accessories	LONG	17.13	-0.58	SELL
DTLK	Computer Services	LONG	8.61	-3.48	HOLD
HA	Airline	LONG	5.80	6.62	HOLD
HGG	Retail (Technology)	LONG	16.01	-1.48	BUY
JST	Electronic Instr. and Controls	LONG	9.04	-0.44	BUY
LCRY	Electronic Instr. and Controls	LONG	9.34	-3.51	SELL
NBIX	Biotechnology and Drugs	LONG	6.75	-2.17	HOLD
PACR	Misc. Transportation	LONG	4.60	-5.74	HOLD
RSYS	Computer Hardware	LONG	5.07	-4.34	HOLD
RTEC	Semiconductors	LONG	8.33	-5.02	HOLD
SENEA	Food Processing	LONG	21.24	-2.52	HOLD
SIGA	Biotechnology and Drugs	LONG	2.66	-10.14	HOLD
SPY	Misc. Financial Services	SHORT	125.46	-0.95	HOLD
SWIR	Communications Equipment	LONG	7.13	-0.83	HOLD
TSEM	Semiconductors	LONG	0.77	1.97	HOLD
XRTX	Computer Storage Devices	LONG	14.48	-0.21	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.58
SHORTS				-0.95
TOTAL				-0.63
S&P 500				-0.95
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-9.26	3.03	-17.53	-4.30	-0.74
S&P 500	-3.85	4.37	-18.61	-1.26	-0.30

14-Nov-2011 Daily positions

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