14-May-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAS	Investment Services	LONG	9.54	-1.60	HOLD
ACHN	Major Drugs	SHORT	6.89	-4.31	HOLD
AFFY	Biotechnology and Drugs	SHORT	14.18	-1.25	HOLD
APOL	Schools	LONG	31.93	1.88	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.01	0.24	SHORT
ARLP	Coal	LONG	58.12	-0.45	HOLD
AZN	Biotechnology and Drugs	LONG	42.86	-1.36	BUY
BRKS	Semiconductors	LONG	10.25	-1.06	BUY
CEF	Misc. Financial Services	LONG	19.27	-2.92	HOLD
CSC	Computer Services	SHORT	26.59	-1.92	HOLD
CVG	Computer Services	LONG	13.33	5.29	HOLD
ASNA	Retail (Apparel)	LONG	20.11	-1.90	HOLD
DNDN	Biotechnology and Drugs	SHORT	9.06	0.00	HOLD
DXCM	Medical Equipment and Supplies	SHORT	10.25	-1.06	SHORT
ELGX	Medical Equipment and Supplies	SHORT	14.22	-5.14	COVER
ESI	Schools	LONG	61.20	-1.58	HOLD
EXAS	Biotechnology and Drugs	SHORT	10.49	-2.15	HOLD
GDX	Misc. Financial Services	SHORT	40.97	-3.42	SHORT
HGSI	Biotechnology and Drugs	SHORT	14.43	-1.84	SHORT
HNR	Oil and Gas Operations	LONG	5.61	-6.66	SELL
IAG	Gold and Silver	LONG	9.99	-7.93	HOLD
IDIX	Biotechnology and Drugs	SHORT	8.41	-0.94	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.54	-3.91	HOLD
ITRI	Electronic Instr. and Controls	SHORT	39.73	-1.17	SHORT
KKD	Retail (Grocery)	LONG	6.40	-2.29	HOLD
KRO	Chemical Manufacturing	LONG	19.42	-5.18	BUY
MNTA	Biotechnology and Drugs	LONG	14.15	-0.77	HOLD
PAAS	Gold and Silver	LONG	15.92	-3.81	BUY
RDEA	Biotechnology and Drugs	SHORT	31.71	-0.09	HOLD
REGN	Biotechnology and Drugs	SHORT	131.61	-1.85	COVER
RES	Oil Well Services and Equipment	LONG	11.12	-3.14	HOLD
RIG	Oil Well Services and Equipment	SHORT	44.33	-3.10	SHORT
RIGL	Biotechnology and Drugs	SHORT	8.18	-1.56	HOLD
RIMM	Communications Equipment	LONG	11.80	0.00	SELL
SLV	Misc. Financial Services	LONG	27.42	-2.35	HOLD
SQNM	Medical Equipment and Supplies	SHORT	5.14	-0.77	HOLD
STRA	Schools	LONG	91.75	0.31	BUY
SYT	Chemical Manufacturing	LONG	65.77	-1.92	SELL
TNH	Chemical Manufacturing	LONG	198.75	-2.93	HOLD
VALE	Metal Mining	LONG	19.32	-3.35	HOLD
VVUS	Biotechnology and Drugs	SHORT	23.78	-3.72	HOLD
VWO	Misc. Financial Services	SHORT	39.37	-2.27	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.92
SHORTS				-2.14
TOTAL				0.22
S&P 500				-1.11
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-33.81	5.70	-34.46	-5.13	-0.85
S&P 500	3.88	5.63	-18.61	0.58	0.17