16-May-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAS	Investment Services	LONG	9.28	-1.49	HOLD
ACHN	Major Drugs	SHORT	6.69	-1.91	HOLD
AFFY	Biotechnology and Drugs	SHORT	14.36	-0.49	HOLD
ALNY	Biotechnology and Drugs	SHORT	10.29	-1.72	HOLD
APOL	Schools	LONG	31.98	-0.03	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.52	1.45	HOLD
ARLP	Coal	LONG	58.21	-0.89	HOLD
AZN	Biotechnology and Drugs	LONG	42.25	-0.33	HOLD
BRKS	Semiconductors	LONG	10.07	-0.10	HOLD
CEF	Misc. Financial Services	LONG	18.75	-0.90	HOLD
CSC	Computer Services	SHORT	26.42	0.19	HOLD
CVG	Computer Services	LONG	13.28	-0.15	HOLD
ASNA	Retail (Apparel)	LONG	19.47	-0.56	HOLD
DNDN	Biotechnology and Drugs	SHORT	8.62	-2.49	HOLD
DXCM	Medical Equipment and Supplies	SHORT	10.50	0.57	HOLD
ESI	Schools	LONG	62.55	2.21	HOLD
EXAS	Biotechnology and Drugs	SHORT	10.12	-1.36	HOLD
GDX	Misc. Financial Services	SHORT	39.56	0.56	HOLD
IAG	Gold and Silver	LONG	9.25	-1.80	HOLD
IDIX	Biotechnology and Drugs	SHORT	9.12	5.56	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.27	-1.91	HOLD
ITRI	Electronic Instr. and Controls	SHORT	34.96	-10.12	HOLD
KKD	Retail (Grocery)	LONG	6.33	-1.25	HOLD
KRO	Chemical Manufacturing	LONG	18.62	-3.02	HOLD
MNTA	Biotechnology and Drugs	LONG	14.01	-0.71	HOLD
PAAS	Gold and Silver	LONG	14.90	-1.19	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.75	0.03	HOLD
RES	Oil Well Services and Equipment	LONG	10.47	-1.69	HOLD
RIG	Oil Well Services and Equipment	SHORT	42.91	-0.90	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.07	0.62	HOLD
SLV	Misc. Financial Services	LONG	26.37	-1.83	HOLD
SQNM	Medical Equipment and Supplies	SHORT	5.14	0.98	HOLD
STRA	Schools	LONG	93.53	1.46	HOLD
TNH	Chemical Manufacturing	LONG	196.49	-1.67	HOLD
VALE	Metal Mining	LONG	18.58	-2.31	HOLD
VVUS	Biotechnology and Drugs	SHORT	24.20	1.87	HOLD
VWO	Misc. Financial Services	SHORT	38.45	-1.59	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.86
SHORTS				-0.59
TOTAL				-0.26
S&P 500				-0.38
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.53	5.83	-35.03	-5.10	-0.85
S&P 500	2.89	5.69	-18.61	0.42	0.13