27-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.69	2.61	COVER
ALNY	Biotechnology and Drugs	SHORT	20.22	6.65	COVER
ANDE	Crops	LONG	38.49	5.86	HOLD
ARIA	Biotechnology and Drugs	SHORT	18.92	6.23	HOLD
BAC	SandLs/Savings Banks	SHORT	7.31	1.95	SHORT
BAS	Oil Well Services and Equipment	LONG	10.06	0.70	HOLD
BBT	Regional Banks	SHORT	32.40	1.00	HOLD
BOKF	Regional Banks	SHORT	57.69	2.27	SHORT
BRKS	Semiconductors	LONG	9.14	3.87	HOLD
CORE	Retail (Grocery)	LONG	48.90	4.31	HOLD
ASNA	Retail (Apparel)	LONG	18.91	0.48	HOLD
DXCM	Medical Equipment and Supplies	SHORT	11.67	2.37	COVER
ESI	Schools	LONG	43.43	1.52	HOLD
FCNCA	Regional Banks	SHORT	165.72	1.25	HOLD
FRED	Retail (Department and Discount)	LONG	14.63	2.67	HOLD
GDX	Misc. Financial Services	SHORT	43.13	0.70	HOLD
HBC	Regional Banks	SHORT	42.12	2.18	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.25	0.18	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.35	5.35	HOLD
ITMN	Biotechnology and Drugs	SHORT	9.28	4.09	HOLD
JPM	Money Center Banks	SHORT	36.89	3.02	SHORT
KELYA	Business Services	LONG	11.80	1.37	HOLD
KLIC	Semiconductors	LONG	9.60	6.02	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.98	1.94	SHORT
LAD	Retail (Specialty)	LONG	27.71	4.57	HOLD
NFP	Investment Services	LONG	13.86	3.43	HOLD
NJR	Natural Gas Utilities	LONG	46.38	2.20	HOLD
NR	Oil Well Services and Equipment	LONG	6.73	5.16	HOLD
RIG	Oil Well Services and Equipment	SHORT	47.35	2.05	HOLD
RIGL	Biotechnology and Drugs	SHORT	11.20	6.87	HOLD
RUSHA	Retail (Specialty)	LONG	15.54	8.82	HOLD
SJT	Misc. Financial Services	LONG	16.16	-0.54	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.20	-12.33	HOLD
STI	Regional Banks	SHORT	23.78	1.58	HOLD
STRA	Schools	LONG	77.09	-2.96	HOLD
STX	Computer Storage Devices	LONG	30.01	-0.17	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.75	2.52	HOLD
TPX	Furniture and Fixtures	LONG	31.34	3.98	HOLD
USB	Regional Banks	SHORT	33.92	0.98	SHORT
USTR	Office Supplies	LONG	25.36	-0.16	HOLD
WFC	Regional Banks	SHORT	34.15	1.10	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.69
SHORTS				2.02
TOTAL				0.67
S&P 500				1.84
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.11	5.66	-39.30	-5.13	-0.74
S&P 500	7.97	5.14	-18.60	1.09	0.30