10-Feb-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	15.17	0.00	HOLD
ACAS	Investment Services	LONG	8.63	1.05	HOLD
ACHN	Major Drugs	SHORT	9.77	3.17	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.65	-2.04	HOLD
BBW	Retail (Specialty)	LONG	8.56	-1.50	HOLD
CECO	Schools	LONG	11.03	-3.25	HOLD
CET	Misc. Financial Services	LONG	21.93	-0.77	HOLD
DNDN	Biotechnology and Drugs	SHORT	14.05	-4.94	HOLD
DSX	Water Transportation	LONG	8.91	-3.88	HOLD
DUSA	Biotechnology and Drugs	LONG	4.69	-3.10	HOLD
HNR	Oil and Gas Operations	LONG	6.45	-6.79	HOLD
HOFT	Furniture and Fixtures	LONG	13.31	1.29	HOLD
IGE	Misc. Financial Services	LONG	40.73	-1.27	HOLD
ITT	Misc. Capital Goods	LONG	22.60	-0.48	HOLD
IXN	Misc. Financial Services	SHORT	64.85	-1.02	HOLD
JST	Electronic Instr. and Controls	LONG	8.94	-1.11	HOLD
MIND	Oil Well Services and Equipment	LONG	22.88	-1.34	HOLD
PCYC	Biotechnology and Drugs	SHORT	23.23	17.34	HOLD
REGN	Biotechnology and Drugs	SHORT	102.08	-1.47	HOLD
RIMM	Communications Equipment	LONG	15.44	-2.89	HOLD
RTEC	Semiconductors	LONG	10.85	-0.46	HOLD
SENEA	Food Processing	LONG	25.26	-4.75	HOLD
SPY	Misc. Financial Services	SHORT	134.36	-0.74	HOLD
VRTX	Biotechnology and Drugs	SHORT	36.13	-2.46	HOLD
VWO	Misc. Financial Services	SHORT	43.28	-2.10	HOLD
XRTX	Computer Storage Devices	LONG	16.88	-0.53	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.75
SHORTS				0.64
TOTAL				-2.39
S&P 500				-0.74
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-5.42	3.41	-17.53	-1.69	-0.33
S&P 500	3.62	5.12	-18.61	0.76	0.21

10-Feb-2012 Daily positions

Pre Opening Longs: ABH, ACAS, BBW, CECO, CET, DSX, DUSA, HNR, HOFT, IGE,
ITT, JST, MIND, RIMM, RTEC, SENEA, XRTX
Pre Opening Shorts: ACHN, ARIA, DNDN, IXN, PCYC, REGN, SPY, VRTX, VWO

09-Feb-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	15.81	-1.13	HOLD
ACAS	Investment Services	LONG	8.68	2.00	HOLD
ACHN	Major Drugs	SHORT	9.67	-1.02	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.96	-1.71	HOLD
BBW	Retail (Specialty)	LONG	8.69	1.28	HOLD
CECO	Schools	LONG	11.40	1.60	BUY
CET	Misc. Financial Services	LONG	22.10	0.67	HOLD
DNDN	Biotechnology and Drugs	SHORT	14.78	-3.21	SHORT
DSX	Water Transportation	LONG	9.27	5.70	BUY
DUSA	Biotechnology and Drugs	LONG	4.84	-3.59	HOLD
HGG	Retail (Technology)	LONG	12.82	13.05	SELL
HITK	Biotechnology and Drugs	LONG	39.98	-0.03	SELL
HNR	Oil and Gas Operations	LONG	6.92	-1.28	HOLD
HOFT	Furniture and Fixtures	LONG	13.14	1.08	HOLD
IGE	Misc. Financial Services	LONG	41.26	0.05	BUY
ITT	Misc. Capital Goods	LONG	22.71	0.49	HOLD
IXN	Misc. Financial Services	SHORT	65.52	0.80	SHORT
JST	Electronic Instr. and Controls	LONG	9.04	1.69	HOLD
KIRK	Retail (Specialty)	LONG	16.32	-2.86	SELL
MIND	Oil Well Services and Equipment	LONG	23.19	-1.28	HOLD
PCYC	Biotechnology and Drugs	SHORT	19.80	10.05	HOLD
REGN	Biotechnology and Drugs	SHORT	103.60	0.88	SHORT
RIMM	Communications Equipment	LONG	15.90	-3.58	HOLD
REX	Chemical Manufacturing	LONG	28.01	1.49	SELL
RTEC	Semiconductors	LONG	10.90	1.21	HOLD
SENEA	Food Processing	LONG	26.52	-4.02	HOLD
SPY	Misc. Financial Services	SHORT	135.36	0.13	COVER
VRTX	Biotechnology and Drugs	SHORT	37.04	0.71	SHORT
VWO	Misc. Financial Services	SHORT	44.21	-0.05	HOLD
XRTX	Computer Storage Devices	LONG	16.97	-0.82	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.24
SHORTS				1.48
TOTAL				-1.24
S&P 500				0.13
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-3.27	3.76	-17.53	-0.93	-0.20
S&P 500	4.39	5.23	-18.61	0.90	0.25

09-Feb-2012 Daily positions

Pre Opening Longs: ABH, ACAS, BBW, CET, DUSA, HGG, HITK, HNR, HOFT, ITT,
JST, KIRK, MIND, REX, RIMM, RTEC, SENEA, XRTX
Pre Opening Shorts: ACHN, ARIA, PCYC, SPY, VWO

08-Feb-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	16.12	1.13	BUY
ACAS	Investment Services	LONG	8.55	0.59	HOLD
ACHN	Major Drugs	SHORT	9.98	-3.85	SHORT
ARIA	Biotechnology and Drugs	SHORT	15.22	-3.18	HOLD
BBW	Retail (Specialty)	LONG	8.58	3.00	HOLD
CASC	Auto and Truck Parts	LONG	58.63	1.45	SELL
CET	Misc. Financial Services	LONG	21.95	0.68	BUY
CVV	Semiconductors	LONG	15.37	-1.79	SELL
DUSA	Biotechnology and Drugs	LONG	5.02	-1.38	HOLD
HGG	Retail (Technology)	LONG	11.34	7.08	HOLD
HITK	Biotechnology and Drugs	LONG	39.99	0.45	HOLD
HNR	Oil and Gas Operations	LONG	7.01	-2.23	HOLD
HOFT	Furniture and Fixtures	LONG	13.00	0.78	HOLD
ITT	Misc. Capital Goods	LONG	22.60	-0.48	BUY
JRN	Printing and Publishing	LONG	5.27	0.19	SELL
JST	Electronic Instr. and Controls	LONG	8.89	1.25	HOLD
KIRK	Retail (Specialty)	LONG	16.80	1.82	HOLD
MIND	Oil Well Services and Equipment	LONG	23.49	2.44	HOLD
PCYC	Biotechnology and Drugs	SHORT	17.99	-3.12	SHORT
RIMM	Communications Equipment	LONG	16.49	-1.32	HOLD
REX	Chemical Manufacturing	LONG	27.60	2.64	HOLD
RTEC	Semiconductors	LONG	10.77	1.22	HOLD
SENEA	Food Processing	LONG	27.63	-1.14	HOLD
SPY	Misc. Financial Services	SHORT	135.19	0.30	COVER
VDSI	Software and Programming	LONG	9.21	1.32	SELL
VWO	Misc. Financial Services	SHORT	44.23	0.77	HOLD
XRTX	Computer Storage Devices	LONG	17.11	1.06	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.92
SHORTS				-0.70
TOTAL				1.62
S&P 500				0.30
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-2.62	3.88	-17.53	-0.73	-0.16
S&P 500	4.26	5.21	-18.61	0.88	0.25

08-Feb-2012 Daily positions

Pre Opening Longs: ACAS, BBW, CASC, CVV, DUSA, HGG, HITK, HNR, HOFT, JRN,
JST, KIRK, MIND, REX, RIMM, RTEC, SENEA, VDSI, XRTX
Pre Opening Shorts: ARIA, SPY, VWO

07-Feb-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAS	Investment Services	LONG	8.50	0.24	HOLD
ARIA	Biotechnology and Drugs	SHORT	15.72	-1.38	HOLD
BBW	Retail (Specialty)	LONG	8.33	1.22	HOLD
CASC	Auto and Truck Parts	LONG	57.79	1.19	HOLD
CVV	Semiconductors	LONG	15.65	5.03	HOLD
DUSA	Biotechnology and Drugs	LONG	5.09	0.79	HOLD
HGG	Retail (Technology)	LONG	10.59	0.67	HOLD
HITK	Biotechnology and Drugs	LONG	39.81	-1.80	HOLD
HNR	Oil and Gas Operations	LONG	7.17	6.07	HOLD
HOFT	Furniture and Fixtures	LONG	13.00	0.08	HOLD
JRN	Printing and Publishing	LONG	5.26	-2.05	HOLD
JST	Electronic Instr. and Controls	LONG	8.78	1.50	HOLD
KIRK	Retail (Specialty)	LONG	16.50	-1.67	HOLD
MIND	Oil Well Services and Equipment	LONG	22.93	-2.51	HOLD
RIMM	Communications Equipment	LONG	16.71	0.81	HOLD
REX	Chemical Manufacturing	LONG	26.89	1.63	HOLD
RTEC	Semiconductors	LONG	10.64	-0.75	HOLD
SENEA	Food Processing	LONG	27.95	-2.31	HOLD
SPY	Misc. Financial Services	SHORT	134.79	0.25	HOLD
VDSI	Software and Programming	LONG	9.09	-1.62	HOLD
VWO	Misc. Financial Services	SHORT	43.89	0.21	HOLD
XRTX	Computer Storage Devices	LONG	16.93	-1.05	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.29
SHORTS				-0.31
TOTAL				0.59
S&P 500				0.25
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-3.54	3.72	-17.53	-1.03	-0.22
S&P 500	3.95	5.17	-18.61	0.83	0.23

07-Feb-2012 Daily positions

Pre Opening Longs: ACAS, BBW, CASC, CVV, DUSA, HGG, HITK, HNR, HOFT, JRN,
JST, KIRK, MIND, REX, RIMM, RTEC, SENEA, VDSI, XRTX
Pre Opening Shorts: ARIA, SPY, VWO

06-Feb-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAS	Investment Services	LONG	8.49	-0.24	HOLD
ARIA	Biotechnology and Drugs	SHORT	15.94	2.97	HOLD
BBW	Retail (Specialty)	LONG	8.23	-2.83	HOLD
CASC	Auto and Truck Parts	LONG	57.11	-0.68	HOLD
CVV	Semiconductors	LONG	14.90	0.47	HOLD
DUSA	Biotechnology and Drugs	LONG	5.05	1.00	HOLD
HGG	Retail (Technology)	LONG	10.52	0.77	HOLD
HITK	Biotechnology and Drugs	LONG	40.54	0.22	HOLD
HNR	Oil and Gas Operations	LONG	6.76	6.29	HOLD
HOFT	Furniture and Fixtures	LONG	12.99	1.48	HOLD
JRN	Printing and Publishing	LONG	5.37	-0.92	HOLD
JST	Electronic Instr. and Controls	LONG	8.65	1.17	HOLD
KIRK	Retail (Specialty)	LONG	16.78	-1.58	HOLD
MIND	Oil Well Services and Equipment	LONG	23.52	2.31	HOLD
RIMM	Communications Equipment	LONG	16.58	-1.81	HOLD
REX	Chemical Manufacturing	LONG	26.46	-0.60	HOLD
RTEC	Semiconductors	LONG	10.72	-1.02	HOLD
SENEA	Food Processing	LONG	28.61	-1.17	HOLD
SPY	Misc. Financial Services	SHORT	134.45	-0.07	HOLD
VDSI	Software and Programming	LONG	9.24	2.21	HOLD
VWO	Misc. Financial Services	SHORT	43.80	-0.93	HOLD
XRTX	Computer Storage Devices	LONG	17.11	0.65	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.30
SHORTS				0.66
TOTAL				-0.36
S&P 500				-0.07
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-3.75	3.68	-17.53	-1.10	-0.23
S&P 500	3.69	5.13	-18.61	0.78	0.22

06-Feb-2012 Daily positions

Pre Opening Longs: ACAS, BBW, CASC, CVV, DUSA, HGG, HITK, HNR, HOFT, JRN,
JST, KIRK, MIND, REX, RIMM, RTEC, SENEA, VDSI, XRTX
Pre Opening Shorts: ARIA, SPY, VWO