31-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ANDE	Crops	LONG	37.97	-1.50	HOLD
ARIA	Biotechnology and Drugs	SHORT	19.13	0.18	HOLD
BAC	SandLs/Savings Banks	SHORT	7.34	0.82	HOLD
BAS	Oil Well Services and Equipment	LONG	10.82	0.84	HOLD
BBT	Regional Banks	SHORT	31.37	-1.07	HOLD
BOKF	Regional Banks	SHORT	56.49	-0.41	HOLD
BRKS	Semiconductors	LONG	9.26	3.18	HOLD
CORE	Retail (Grocery)	LONG	48.29	-0.54	HOLD
ASNA	Retail (Apparel)	LONG	18.34	-1.13	HOLD
ESI	Schools	LONG	38.82	-2.93	HOLD
FCNCA	Regional Banks	SHORT	164.29	0.59	HOLD
FRED	Retail (Department and Discount)	LONG	14.20	-1.66	HOLD
GDX	Misc. Financial Services	SHORT	42.78	-2.15	HOLD
HBC	Regional Banks	SHORT	41.80	-2.18	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.24	0.00	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.27	-0.18	HOLD
ITMN	Biotechnology and Drugs	SHORT	8.83	-2.21	HOLD
JBT	Misc. Capital Goods	LONG	14.65	0.83	HOLD
JPM	Money Center Banks	SHORT	36.00	-0.39	HOLD
KELYA	Business Services	LONG	11.86	0.25	HOLD
KLIC	Semiconductors	LONG	11.07	12.64	SELL
KMR	Oil Well Services and Equipment	SHORT	76.65	-1.55	SHORT
KOP	Chemical Manufacturing	LONG	32.94	1.23	BUY
KRNY	SandLs/Savings Banks	SHORT	9.72	-0.31	HOLD
LAD	Retail (Specialty)	LONG	27.86	0.87	HOLD
NFP	Investment Services	LONG	14.85	7.53	HOLD
NJR	Natural Gas Utilities	LONG	45.90	-0.15	HOLD
NR	Oil Well Services and Equipment	LONG	6.83	-1.01	HOLD
RIG	Oil Well Services and Equipment	SHORT	46.83	-1.60	HOLD
RIGL	Biotechnology and Drugs	SHORT	10.94	-1.97	HOLD
RUSHA	Retail (Specialty)	LONG	16.15	3.33	HOLD
SQNM	Medical Equipment and Supplies	SHORT	2.81	2.18	HOLD
STI	Regional Banks	SHORT	23.65	0.42	HOLD
STRA	Schools	LONG	72.66	-0.42	HOLD
STX	Computer Storage Devices	LONG	30.02	-1.35	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.41	-2.49	HOLD
TPX	Furniture and Fixtures	LONG	28.49	-3.26	HOLD
USB	Regional Banks	SHORT	33.50	-0.74	HOLD
USTR	Office Supplies	LONG	25.21	-0.87	HOLD
VQ	Oil and Gas Operations	LONG	9.27	-3.24	BUY
WFC	Regional Banks	SHORT	33.81	-0.44	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.77
SHORTS				-0.63
TOTAL				1.40
S&P 500				-0.70
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-36.76	5.51	-39.30	-5.04	-0.71
S&P 500	7.22	5.16	-18.60	0.98	0.27