12-Dec-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Services	SHORT	16.97	1.19	HOLD
ALJ	Oil and Gas Operations	LONG	13.85	-0.22	HOLD
ATVI	Software and Programming	SHORT	11.50	-0.69	HOLD
BAS	Oil Well Services and Equipment	LONG	11.15	-0.71	HOLD
BBT	Regional Banks	SHORT	28.84	1.34	HOLD
BIG	Retail (Specialty)	LONG	27.65	-2.16	HOLD
BLX	Regional Banks	SHORT	20.84	-0.33	HOLD
BOKF	Regional Banks	SHORT	54.74	-0.51	HOLD
CEC	Restaurants	LONG	31.53	-1.25	HOLD
CEF	Misc. Financial Services	SHORT	22.79	1.24	HOLD
CET	Misc. Financial Services	SHORT	19.47	-0.10	HOLD
DUK	Electric Utilities	SHORT	64.30	0.03	HOLD
ESI	Schools	LONG	19.43	2.10	HOLD
FHN	Regional Banks	SHORT	9.54	1.06	HOLD
FRED	Retail (Department and Discount)	LONG	13.01	-0.08	HOLD
FTK	Oil Well Services and Equipment	LONG	11.97	-0.17	HOLD
GBX	Railroads	LONG	19.00	-2.81	HOLD
GLD	Misc. Financial Services	SHORT	165.77	0.07	HOLD
HBC	Regional Banks	SHORT	51.79	-0.10	HOLD
IAU	Misc. Financial Services	SHORT	16.65	0.06	HOLD
IPAR	Personal and Household Prods.	LONG	20.54	-1.20	HOLD
ISBC	SandLs/Savings Banks	SHORT	17.35	-0.74	HOLD
JBT	Misc. Capital Goods	LONG	16.60	-1.43	HOLD
KEG	Oil Well Services and Equipment	LONG	6.90	0.73	HOLD
KMR	Oil Well Services and Equipment	SHORT	73.43	-0.97	HOLD
KRNY	SandLs/Savings Banks	SHORT	8.89	-2.31	HOLD
LCC	Airline	LONG	12.70	-1.40	HOLD
LINE	Oil and Gas Operations	SHORT	37.35	-1.14	HOLD
NAFC	Retail (Grocery)	LONG	21.04	-0.57	HOLD
NILE	Retail (Specialty)	LONG	37.47	-4.10	HOLD
NR	Oil Well Services and Equipment	LONG	7.77	-1.15	HOLD
NVS	Major Drugs	SHORT	63.24	0.06	HOLD
OMX		LONG	9.57	-1.34	HOLD
SLV	Misc. Financial Services	SHORT	32.37	1.44	HOLD
SONC	Restaurants	LONG	10.49	0.87	HOLD
STRA	Schools	LONG	59.47	1.07	HOLD
TCB	Regional Banks	SHORT	11.75	0.26	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.46	-0.59	HOLD
TKC	Communications Services	SHORT	15.72	-0.88	HOLD
USB	Regional Banks	SHORT	31.87	-0.31	HOLD
USNA	Conglomerates	LONG	42.48	-1.19	HOLD
USTR	Office Supplies	LONG	30.75	-0.10	HOLD
V	Consumer Financial Services	SHORT	147.88	-0.69	HOLD
VALE	Metal Mining	SHORT	18.88	0.59	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WGL	Natural Gas Utilities	LONG	39.07	-0.89	HOLD
XTXI	Oil Well Services and Equipment	LONG	13.63	-0.51	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.72
SHORTS				-0.08
TOTAL				-0.63
S&P 500				0.05
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.83	5.37	-39.77	-3.97	-0.54
S&P 500	12.33	5.09	-18.60	1.32	0.36