07-Sep-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ANDE	Crops	LONG	40.12	0.75	HOLD
BAC	SandLs/Savings Banks	SHORT	8.80	5.39	HOLD
BAS	Oil Well Services and Equipment	LONG	11.72	4.92	HOLD
BBT	Regional Banks	SHORT	32.86	1.77	HOLD
BOKF	Regional Banks	SHORT	58.95	0.91	HOLD
BX	Investment Services	SHORT	14.19	3.58	HOLD
CEF	Misc. Financial Services	SHORT	23.16	3.39	HOLD
CET	Misc. Financial Services	SHORT	20.27	0.45	HOLD
CORE	Retail (Grocery)	LONG	47.21	-0.30	HOLD
CPLA	Schools	LONG	34.03	1.86	HOLD
CSE	Regional Banks	SHORT	7.17	0.99	HOLD
ESI	Schools	LONG	36.38	1.42	HOLD
EVV	Misc. Financial Services	SHORT	16.60	0.00	HOLD
FCNCA	Regional Banks	SHORT	167.38	0.38	HOLD
FRED	Retail (Department and Discount)	LONG	13.86	0.00	HOLD
GBX	Railroads	LONG	16.78	7.22	HOLD
HBC	Regional Banks	SHORT	45.10	1.90	HOLD
HCBK	SandLs/Savings Banks	SHORT	7.55	1.21	HOLD
IAU	Misc. Financial Services	SHORT	16.91	2.11	HOLD
ISBC	SandLs/Savings Banks	SHORT	17.27	0.52	HOLD
JBT	Misc. Capital Goods	LONG	16.30	0.00	HOLD
JPM	Money Center Banks	SHORT	39.30	1.58	HOLD
KELYA	Business Services	LONG	13.08	1.08	HOLD
KMR	Oil Well Services and Equipment	SHORT	74.00	0.23	HOLD
KOP	Chemical Manufacturing	LONG	34.42	1.83	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.76	-1.41	HOLD
LAD	Retail (Specialty)	LONG	31.06	1.94	HOLD
NFP	Investment Services	LONG	15.40	2.67	HOLD
NJR	Natural Gas Utilities	LONG	45.20	0.00	HOLD
NLY	Misc. Financial Services	SHORT	17.54	-0.51	HOLD
NP	Paper and Paper Products	LONG	28.70	-0.31	HOLD
NR	Oil Well Services and Equipment	LONG	7.74	3.34	HOLD
OMX	Office Supplies	LONG	6.57	5.12	HOLD
RUSHA	Retail (Specialty)	LONG	18.18	2.08	HOLD
SONC	Restaurants	LONG	10.03	1.21	HOLD
STI	Regional Banks	SHORT	27.50	3.07	HOLD
STRA	Schools	LONG	70.01	0.85	HOLD
TEN	Auto and Truck Parts	LONG	32.34	2.41	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.93	1.02	HOLD
TKC	Communications Services	SHORT	14.84	-1.26	HOLD
USB	Regional Banks	SHORT	33.98	0.15	HOLD
USTR	Office Supplies	LONG	25.67	1.74	HOLD
VQ	Oil and Gas Operations	LONG	11.73	2.99	HOLD
WFC	Regional Banks	SHORT	35.00	0.46	HOLD
XTXI	Oil Well Services and Equipment	LONG	12.45	4.62	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.06
SHORTS				1.18
TOTAL				0.89
S&P 500				0.39
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.64	5.32	-39.30	-4.74	-0.64
S&P 500	12.37	5.04	-18.60	1.59	0.43