09-Mar-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	14.75	0.00	HOLD
ACAS	Investment Services	LONG	8.66	0.00	HOLD
ACHN	Major Drugs	SHORT	10.75	0.00	HOLD
AM	Printing and Publishing	LONG	15.65	3.03	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.72	-0.88	HOLD
BBOX	Computer Networks	LONG	26.53	0.57	HOLD
CECO	Schools	LONG	8.08	2.67	HOLD
CET	Misc. Financial Services	LONG	21.88	0.53	HOLD
CIEN	Communications Equipment	SHORT	14.99	1.35	HOLD
DNDN	Biotechnology and Drugs	SHORT	10.08	-0.35	HOLD
DSX	Water Transportation	LONG	8.65	0.70	HOLD
EWD	Misc. Financial Services	SHORT	28.25	-1.81	HOLD
EXAS	Biotechnology and Drugs	SHORT	9.47	3.16	HOLD
FSLR	Semiconductors	LONG	27.49	5.12	HOLD
HNR	Oil and Gas Operations	LONG	8.03	-1.59	HOLD
IGE	Misc. Financial Services	LONG	41.17	0.17	HOLD
ITT	Misc. Capital Goods	LONG	22.88	0.35	HOLD
IXN	Misc. Financial Services	SHORT	67.80	0.52	HOLD
KWK	Oil and Gas Operations	LONG	5.44	5.22	HOLD
PCYC	Biotechnology and Drugs	SHORT	25.37	-0.94	HOLD
REGN	Biotechnology and Drugs	SHORT	107.21	0.95	HOLD
RIMM	Communications Equipment	LONG	13.58	2.92	HOLD
RSH	Retail (Technology)	LONG	7.00	-0.57	HOLD
SPY	Misc. Financial Services	SHORT	137.57	0.39	HOLD
SYT	Chemical Manufacturing	LONG	64.46	-0.51	HOLD
TC	Metal Mining	LONG	7.13	0.00	HOLD
VRTX	Biotechnology and Drugs	SHORT	41.79	0.31	HOLD
VWO	Misc. Financial Services	SHORT	44.16	-0.10	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.16
SHORTS				0.22
TOTAL				0.94
S&P 500				0.39
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-16.07	3.13	-17.73	-5.08	-0.90
S&P 500	6.09	5.38	-18.61	1.12	0.32

09-Mar-2012 Daily positions

Pre Opening Longs: ABH, ACAS, AM, BBOX, CECO, CET, DSX, FSLR, HNR, IGE,
ITT, KWK, RIMM, RSH, SYT, TC
Pre Opening Shorts: ACHN, ARIA, CIEN, DNDN, EWD, EXAS, IXN, PCYC, REGN,
SPY, VRTX, VWO

08-Mar-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	14.75	0.00	HOLD
ACAS	Investment Services	LONG	8.66	0.00	HOLD
ACHN	Major Drugs	SHORT	10.23	0.00	HOLD
AM	Printing and Publishing	LONG	15.19	0.80	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.85	1.99	HOLD
BBOX	Computer Networks	LONG	26.38	1.85	HOLD
CECO	Schools	LONG	7.87	-1.50	HOLD
CET	Misc. Financial Services	LONG	21.76	0.79	HOLD
CIEN	Communications Equipment	SHORT	14.79	5.57	HOLD
DNDN	Biotechnology and Drugs	SHORT	10.11	-6.95	HOLD
DSX	Water Transportation	LONG	8.59	0.70	HOLD
EWD	Misc. Financial Services	SHORT	28.77	4.01	HOLD
EXAS	Biotechnology and Drugs	SHORT	9.18	2.00	HOLD
FSLR	Semiconductors	LONG	26.15	1.36	HOLD
HNR	Oil and Gas Operations	LONG	8.16	-1.33	HOLD
IGE	Misc. Financial Services	LONG	41.10	1.08	HOLD
ITT	Misc. Capital Goods	LONG	22.80	-0.18	HOLD
IXN	Misc. Financial Services	SHORT	67.45	1.26	HOLD
KWK	Oil and Gas Operations	LONG	5.17	0.00	HOLD
PCYC	Biotechnology and Drugs	SHORT	25.61	0.83	HOLD
REGN	Biotechnology and Drugs	SHORT	106.20	1.23	HOLD
RIMM	Communications Equipment	LONG	13.19	2.29	HOLD
RSH	Retail (Technology)	LONG	7.04	-0.98	HOLD
SPY	Misc. Financial Services	SHORT	137.04	0.99	HOLD
SYT	Chemical Manufacturing	LONG	64.79	2.65	HOLD
TC	Metal Mining	LONG	7.13	3.18	HOLD
VRTX	Biotechnology and Drugs	SHORT	41.66	2.28	HOLD
VWO	Misc. Financial Services	SHORT	44.20	2.20	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.67
SHORTS				1.29
TOTAL				-0.62
S&P 500				0.99
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-12.51	2.96	-17.73	-4.20	-0.70
S&P 500	5.68	5.34	-18.61	1.06	0.30

08-Mar-2012 Daily positions

Pre Opening Longs: ABH, ACAS, AM, BBOX, CECO, CET, DSX, FSLR, HNR, IGE,
ITT, KWK, RIMM, RSH, SYT, TC
Pre Opening Shorts: ACHN, ARIA, CIEN, DNDN, EWD, EXAS, IXN, PCYC, REGN,
SPY, VRTX, VWO

07-Mar-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	14.75	0.96	HOLD
ACAS	Investment Services	LONG	8.66	1.64	HOLD
ACHN	Major Drugs	SHORT	10.00	0.00	HOLD
AM	Printing and Publishing	LONG	15.07	1.07	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.56	1.25	HOLD
BBOX	Computer Networks	LONG	25.90	0.08	HOLD
CECO	Schools	LONG	7.99	-0.13	HOLD
CET	Misc. Financial Services	LONG	21.56	0.08	HOLD
CIEN	Communications Equipment	SHORT	14.01	4.24	HOLD
DNDN	Biotechnology and Drugs	SHORT	10.87	4.92	HOLD
DSX	Water Transportation	LONG	8.53	1.43	HOLD
EWD	Misc. Financial Services	SHORT	27.66	1.28	HOLD
EXAS	Biotechnology and Drugs	SHORT	9.00	-0.11	HOLD
FSLR	Semiconductors	LONG	25.80	-6.62	HOLD
HNR	Oil and Gas Operations	LONG	8.27	7.40	HOLD
IGE	Misc. Financial Services	LONG	40.66	0.82	HOLD
ITT	Misc. Capital Goods	LONG	22.84	0.62	HOLD
IXN	Misc. Financial Services	SHORT	66.64	0.83	HOLD
KWK	Oil and Gas Operations	LONG	5.17	1.97	HOLD
PCYC	Biotechnology and Drugs	SHORT	25.40	2.01	HOLD
REGN	Biotechnology and Drugs	SHORT	104.91	0.67	HOLD
RIMM	Communications Equipment	LONG	12.90	-1.71	HOLD
RSH	Retail (Technology)	LONG	7.12	4.25	HOLD
SPY	Misc. Financial Services	SHORT	135.69	0.70	HOLD
SYT	Chemical Manufacturing	LONG	63.12	1.76	HOLD
TC	Metal Mining	LONG	6.91	0.29	HOLD
VRTX	Biotechnology and Drugs	SHORT	40.73	2.62	HOLD
VWO	Misc. Financial Services	SHORT	43.25	1.18	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.87
SHORTS				1.63
TOTAL				-0.76
S&P 500				0.70
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-11.83	2.95	-17.73	-4.00	-0.66
S&P 500	4.64	5.26	-18.61	0.88	0.25

07-Mar-2012 Daily positions

Pre Opening Longs: ABH, ACAS, AM, BBOX, CECO, CET, DSX, FSLR, HNR, IGE,
ITT, KWK, RIMM, RSH, SYT, TC
Pre Opening Shorts: ACHN, ARIA, CIEN, DNDN, EWD, EXAS, IXN, PCYC, REGN,
SPY, VRTX, VWO

06-Mar-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	15.12	0.00	HOLD
ACAS	Investment Services	LONG	8.72	0.00	HOLD
ACHN	Major Drugs	SHORT	10.00	0.00	HOLD
AM	Printing and Publishing	LONG	14.91	-1.97	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.38	-2.44	HOLD
BBOX	Computer Networks	LONG	25.88	-1.82	HOLD
CECO	Schools	LONG	8.00	-0.62	HOLD
CET	Misc. Financial Services	LONG	21.53	-1.23	HOLD
CIEN	Communications Equipment	SHORT	13.44	-2.61	HOLD
DNDN	Biotechnology and Drugs	SHORT	10.36	-2.72	HOLD
DSX	Water Transportation	LONG	8.41	-4.00	HOLD
EWD	Misc. Financial Services	SHORT	27.30	-5.67	HOLD
EXAS	Biotechnology and Drugs	SHORT	9.00	-3.43	HOLD
FSLR	Semiconductors	LONG	27.63	-1.60	HOLD
HNR	Oil and Gas Operations	LONG	7.70	23.00	HOLD
IGE	Misc. Financial Services	LONG	40.33	-2.04	HOLD
ITT	Misc. Capital Goods	LONG	22.70	-2.99	HOLD
IXN	Misc. Financial Services	SHORT	66.09	-1.28	HOLD
KWK	Oil and Gas Operations	LONG	5.07	1.40	HOLD
PCYC	Biotechnology and Drugs	SHORT	24.90	-3.86	HOLD
REGN	Biotechnology and Drugs	SHORT	104.21	-4.14	HOLD
RIMM	Communications Equipment	LONG	13.13	-1.46	HOLD
RSH	Retail (Technology)	LONG	6.83	-1.01	HOLD
SPY	Misc. Financial Services	SHORT	134.75	-1.46	HOLD
SYT	Chemical Manufacturing	LONG	62.03	-4.04	HOLD
TC	Metal Mining	LONG	6.89	-3.23	HOLD
VRTX	Biotechnology and Drugs	SHORT	39.69	-1.76	HOLD
VWO	Misc. Financial Services	SHORT	42.74	-3.51	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.10
SHORTS				-2.74
TOTAL				2.64
S&P 500				-1.46
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-10.90	2.96	-17.73	-3.69	-0.61
S&P 500	3.92	5.21	-18.61	0.75	0.21

06-Mar-2012 Daily positions

Pre Opening Longs: ABH, ACAS, AM, BBOX, CECO, CET, DSX, FSLR, HNR, IGE,
ITT, KWK, RIMM, RSH, SYT, TC
Pre Opening Shorts: ACHN, ARIA, CIEN, DNDN, EWD, EXAS, IXN, PCYC, REGN,
SPY, VRTX, VWO

05-Mar-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ABH	Paper and Paper Products	LONG	15.12	-0.13	HOLD
ACAS	Investment Services	LONG	8.72	-1.91	HOLD
ACHN	Major Drugs	SHORT	10.00	-2.63	HOLD
AM	Printing and Publishing	LONG	15.21	0.73	HOLD
ARIA	Biotechnology and Drugs	SHORT	14.74	0.41	HOLD
BBOX	Computer Networks	LONG	26.36	-0.90	HOLD
CECO	Schools	LONG	8.05	-1.83	HOLD
CET	Misc. Financial Services	LONG	21.80	-0.69	HOLD
CIEN	Communications Equipment	SHORT	13.80	-4.70	HOLD
DNDN	Biotechnology and Drugs	SHORT	10.65	-4.40	HOLD
DSX	Water Transportation	LONG	8.76	-3.20	HOLD
EWD	Misc. Financial Services	SHORT	28.94	-0.89	HOLD
EXAS	Biotechnology and Drugs	SHORT	9.32	-3.02	HOLD
FSLR	Semiconductors	LONG	28.08	-6.46	HOLD
HNR	Oil and Gas Operations	LONG	6.26	-0.79	HOLD
IGE	Misc. Financial Services	LONG	41.17	-1.25	HOLD
ITT	Misc. Capital Goods	LONG	23.40	-1.68	HOLD
IXN	Misc. Financial Services	SHORT	66.95	-0.99	HOLD
KWK	Oil and Gas Operations	LONG	5.00	-5.66	HOLD
PCYC	Biotechnology and Drugs	SHORT	25.90	0.00	HOLD
REGN	Biotechnology and Drugs	SHORT	108.71	-0.08	HOLD
RIMM	Communications Equipment	LONG	13.32	-3.41	HOLD
RSH	Retail (Technology)	LONG	6.90	-0.72	HOLD
SPY	Misc. Financial Services	SHORT	136.75	-0.41	HOLD
SYT	Chemical Manufacturing	LONG	64.64	-1.28	HOLD
TC	Metal Mining	LONG	7.12	-2.20	HOLD
VRTX	Biotechnology and Drugs	SHORT	40.40	-0.81	HOLD
VWO	Misc. Financial Services	SHORT	44.30	-1.49	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.96
SHORTS				-1.58
TOTAL				-0.38
S&P 500				-0.41
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-13.11	2.99	-17.73	-4.40	-0.74
S&P 500	5.46	5.34	-18.61	1.03	0.29

05-Mar-2012 Daily positions

Pre Opening Longs: ABH, ACAS, AM, BBOX, CECO, CET, DSX, FSLR, HNR, IGE,
ITT, KWK, RIMM, RSH, SYT, TC
Pre Opening Shorts: ACHN, ARIA, CIEN, DNDN, EWD, EXAS, IXN, PCYC, REGN,
SPY, VRTX, VWO