22-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.59	3.54	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.10	2.75	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.76	3.80	HOLD
APOL	Schools	LONG	33.55	0.99	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.44	2.05	HOLD
ARLP	Coal	LONG	55.38	1.78	HOLD
AZN	Biotechnology and Drugs	LONG	43.32	0.72	HOLD
BBOX	Computer Networks	SHORT	27.54	3.42	HOLD
BRKS	Semiconductors	LONG	9.49	2.26	HOLD
CEF	Misc. Financial Services	LONG	19.51	0.10	HOLD
CSC	Computer Services	SHORT	23.90	0.21	HOLD
ASNA	Retail (Apparel)	LONG	19.12	-0.78	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.59	2.02	HOLD
DXCM	Medical Equipment and Supplies	SHORT	13.00	2.97	HOLD
ESI	Schools	LONG	55.53	0.09	HOLD
GDX	Misc. Financial Services	SHORT	44.63	-0.42	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.35	0.00	HOLD
IAG	Gold and Silver	LONG	11.71	-0.76	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.82	2.03	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.96	2.84	HOLD
ITRI	Electronic Instr. and Controls	SHORT	38.69	0.42	HOLD
KKD	Retail (Grocery)	LONG	6.11	1.16	HOLD
KLIC	Semiconductors	LONG	9.20	0.44	HOLD
KRO	Chemical Manufacturing	LONG	16.20	-2.23	HOLD
MNTA	Biotechnology and Drugs	LONG	17.01	4.81	HOLD
PAAS	Gold and Silver	LONG	17.23	-2.93	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.34	-0.77	HOLD
RIG	Oil Well Services and Equipment	SHORT	43.21	1.67	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.02	2.73	HOLD
SHS	Misc. Capital Goods	LONG	35.24	1.18	HOLD
SJT	Misc. Financial Services	LONG	14.14	2.84	HOLD
SLV	Misc. Financial Services	LONG	26.15	0.10	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.14	7.67	HOLD
STRA	Schools	LONG	93.62	1.11	HOLD
STX	Computer Storage Devices	LONG	23.34	2.91	HOLD
TNH	Chemical Manufacturing	LONG	198.02	0.90	HOLD
TPX	Furniture and Fixtures	LONG	22.03	1.66	HOLD
VALE	Metal Mining	LONG	19.16	-0.47	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.51	1.49	HOLD
VWO	Misc. Financial Services	SHORT	38.62	0.38	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.69
SHORTS				2.08
TOTAL				-1.39
S&P 500				0.77
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.64	5.55	-36.13	-5.16	-0.79
S&P 500	3.38	5.47	-18.61	0.47	0.14

22-Jun-2012 Daily positions

Pre Opening Longs: APOL, ARLP, ASNA, AZN, BRKS, CEF, ESI, IAG, KKD, KLIC,
KRO, MNTA, PAAS, RES, SHS, SJT, SLV, STRA, STX, TNH, TPX, VALE
Pre Opening Shorts: ACHN, AFFY, ALNY, ARIA, BBOX, CSC, DNDN, DXCM, GDX,
HGSI, IDIX, ITMN, ITRI, RDEA, RIG, RIGL, SQNM, VVUS, VWO

21-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.36	4.61	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.75	-4.21	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.33	-2.83	HOLD
APOL	Schools	LONG	33.22	-2.18	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.09	-2.06	HOLD
ARLP	Coal	LONG	54.41	-1.56	HOLD
AZN	Biotechnology and Drugs	LONG	43.01	-1.08	HOLD
BBOX	Computer Networks	SHORT	26.63	-2.24	HOLD
BRKS	Semiconductors	LONG	9.28	-5.79	HOLD
CEF	Misc. Financial Services	LONG	19.49	-3.56	HOLD
CSC	Computer Services	SHORT	23.85	-3.48	HOLD
ASNA	Retail (Apparel)	LONG	19.27	-2.58	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.44	-0.67	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.63	-3.11	HOLD
ESI	Schools	LONG	55.48	-2.38	HOLD
GDX	Misc. Financial Services	SHORT	44.82	-5.18	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.35	0.38	HOLD
IAG	Gold and Silver	LONG	11.80	-5.98	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.61	-0.93	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.63	-2.43	HOLD
ITRI	Electronic Instr. and Controls	SHORT	38.53	-4.32	HOLD
KKD	Retail (Grocery)	LONG	6.04	-3.82	HOLD
KLIC	Semiconductors	LONG	9.16	-3.17	HOLD
KRO	Chemical Manufacturing	LONG	16.57	-3.21	HOLD
MNTA	Biotechnology and Drugs	LONG	16.23	1.76	HOLD
PAAS	Gold and Silver	LONG	17.75	-6.48	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.44	-3.78	HOLD
RIG	Oil Well Services and Equipment	SHORT	42.50	-6.24	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.78	0.11	HOLD
SHS	Misc. Capital Goods	LONG	34.79	-5.95	HOLD
SJT	Misc. Financial Services	LONG	13.75	-2.48	HOLD
SLV	Misc. Financial Services	LONG	26.12	-4.18	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.85	-2.16	HOLD
STRA	Schools	LONG	92.59	-0.11	HOLD
STX	Computer Storage Devices	LONG	22.68	-6.74	HOLD
TNH	Chemical Manufacturing	LONG	196.25	-0.74	HOLD
TPX	Furniture and Fixtures	LONG	21.67	-7.16	HOLD
VALE	Metal Mining	LONG	19.25	-4.51	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.12	-2.79	HOLD
VWO	Misc. Financial Services	SHORT	38.47	-3.64	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-3.44
SHORTS				-2.17
TOTAL				-1.27
S&P 500				-2.24
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.72	5.43	-35.23	-5.16	-0.79
S&P 500	2.59	5.54	-18.61	0.36	0.11

20-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.08	-3.49	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.31	1.68	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.66	-0.60	HOLD
APOL	Schools	LONG	33.96	-0.38	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.45	-0.06	HOLD
ARLP	Coal	LONG	55.27	0.78	HOLD
AZN	Biotechnology and Drugs	LONG	43.48	0.07	HOLD
BBOX	Computer Networks	SHORT	27.24	-0.62	HOLD
BRKS	Semiconductors	LONG	9.85	-0.51	HOLD
CEF	Misc. Financial Services	LONG	20.21	-0.79	HOLD
CSC	Computer Services	SHORT	24.71	0.12	HOLD
ASNA	Retail (Apparel)	LONG	19.78	1.54	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.49	4.03	HOLD
DXCM	Medical Equipment and Supplies	SHORT	13.03	-0.31	HOLD
ESI	Schools	LONG	56.83	0.91	HOLD
GDX	Misc. Financial Services	SHORT	47.27	-0.86	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.30	0.15	HOLD
IAG	Gold and Silver	LONG	12.55	-2.33	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.71	14.30	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.92	-2.45	HOLD
ITRI	Electronic Instr. and Controls	SHORT	40.27	0.45	HOLD
KKD	Retail (Grocery)	LONG	6.28	-0.32	HOLD
KLIC	Semiconductors	LONG	9.46	-1.46	HOLD
KRO	Chemical Manufacturing	LONG	17.12	-0.12	HOLD
MNTA	Biotechnology and Drugs	LONG	15.95	0.06	HOLD
PAAS	Gold and Silver	LONG	18.98	1.23	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.85	0.65	HOLD
RIG	Oil Well Services and Equipment	SHORT	45.33	0.15	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.77	-1.46	HOLD
SHS	Misc. Capital Goods	LONG	36.99	-2.01	HOLD
SJT	Misc. Financial Services	LONG	14.10	1.88	HOLD
SLV	Misc. Financial Services	LONG	27.27	-1.34	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.93	-1.50	HOLD
STRA	Schools	LONG	92.69	-1.08	HOLD
STX	Computer Storage Devices	LONG	24.32	-0.65	HOLD
TNH	Chemical Manufacturing	LONG	197.71	-0.21	HOLD
TPX	Furniture and Fixtures	LONG	23.34	-0.85	HOLD
VALE	Metal Mining	LONG	20.16	0.35	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.87	-0.15	HOLD
VWO	Misc. Financial Services	SHORT	39.93	-0.16	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.21
SHORTS				0.49
TOTAL				-0.69
S&P 500				-0.16
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-33.88	5.31	-35.06	-5.14	-0.78
S&P 500	4.94	5.39	-18.61	0.70	0.20

20-Jun-2012 Daily positions

Pre Opening Longs: APOL, ARLP, ASNA, AZN, BRKS, CEF, ESI, IAG, KKD, KLIC,
KRO, MNTA, PAAS, RES, SHS, SJT, SLV, STRA, STX, TNH, TPX, VALE
Pre Opening Shorts: ACHN, AFFY, ALNY, ARIA, BBOX, CSC, DNDN, DXCM, GDX,
HGSI, IDIX, ITMN, ITRI, RDEA, RIG, RIGL, SQNM, VVUS, VWO

19-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.30	-4.26	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.09	0.23	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.73	-0.17	HOLD
APOL	Schools	LONG	34.09	2.65	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.46	-0.74	HOLD
ARLP	Coal	LONG	54.84	0.70	HOLD
AZN	Biotechnology and Drugs	LONG	43.45	3.06	HOLD
BBOX	Computer Networks	SHORT	27.41	3.71	HOLD
BRKS	Semiconductors	LONG	9.90	3.23	HOLD
CEF	Misc. Financial Services	LONG	20.37	-0.54	HOLD
CSC	Computer Services	SHORT	24.68	0.24	HOLD
ASNA	Retail (Apparel)	LONG	19.48	0.26	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.20	-4.26	HOLD
DXCM	Medical Equipment and Supplies	SHORT	13.07	1.79	HOLD
ESI	Schools	LONG	56.32	3.13	HOLD
GDX	Misc. Financial Services	SHORT	47.68	-0.10	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.28	0.61	HOLD
IAG	Gold and Silver	LONG	12.85	0.08	HOLD
IDIX	Biotechnology and Drugs	SHORT	9.37	-1.47	HOLD
ITMN	Biotechnology and Drugs	SHORT	12.22	3.30	HOLD
ITRI	Electronic Instr. and Controls	SHORT	40.09	0.50	HOLD
KKD	Retail (Grocery)	LONG	6.30	2.11	HOLD
KLIC	Semiconductors	LONG	9.60	5.49	HOLD
KRO	Chemical Manufacturing	LONG	17.14	5.22	HOLD
MNTA	Biotechnology and Drugs	LONG	15.94	1.46	HOLD
PAAS	Gold and Silver	LONG	18.75	1.41	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	-0.06	HOLD
RES	Oil Well Services and Equipment	LONG	10.78	5.48	HOLD
RIG	Oil Well Services and Equipment	SHORT	45.26	3.48	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.90	3.73	HOLD
SHS	Misc. Capital Goods	LONG	37.75	4.43	HOLD
SJT	Misc. Financial Services	LONG	13.84	0.58	HOLD
SLV	Misc. Financial Services	LONG	27.62	-0.90	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.99	7.84	HOLD
STRA	Schools	LONG	93.70	5.14	HOLD
STX	Computer Storage Devices	LONG	24.48	2.68	HOLD
TNH	Chemical Manufacturing	LONG	198.12	7.25	HOLD
TPX	Furniture and Fixtures	LONG	23.54	0.38	HOLD
VALE	Metal Mining	LONG	20.09	3.77	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.91	0.64	HOLD
VWO	Misc. Financial Services	SHORT	39.99	1.54	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.59
SHORTS				0.87
TOTAL				1.72
S&P 500				0.97
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-33.42	5.26	-35.06	-5.13	-0.77
S&P 500	5.11	5.38	-18.61	0.73	0.21

19-Jun-2012 Daily positions

Pre Opening Longs: APOL, ARLP, ASNA, AZN, BRKS, CEF, ESI, IAG, KKD, KLIC,
KRO, MNTA, PAAS, RES, SHS, SJT, SLV, STRA, STX, TNH, TPX, VALE
Pre Opening Shorts: ACHN, AFFY, ALNY, ARIA, BBOX, CSC, DNDN, DXCM, GDX,
HGSI, IDIX, ITMN, ITRI, RDEA, RIG, RIGL, SQNM, VVUS, VWO

18-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.58	-1.35	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.06	-0.46	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.75	1.47	HOLD
APOL	Schools	LONG	33.21	0.29	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.59	-1.12	HOLD
ARLP	Coal	LONG	54.46	-0.77	HOLD
AZN	Biotechnology and Drugs	LONG	42.16	0.89	HOLD
BBOX	Computer Networks	SHORT	26.42	0.08	HOLD
BRKS	Semiconductors	LONG	9.59	-0.52	HOLD
CEF	Misc. Financial Services	LONG	20.48	-0.44	HOLD
CSC	Computer Services	SHORT	24.62	-0.36	HOLD
ASNA	Retail (Apparel)	LONG	19.43	-0.41	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.52	-3.09	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.84	1.18	HOLD
ESI	Schools	LONG	54.61	0.89	HOLD
EXAS	Biotechnology and Drugs	SHORT	10.54	2.63	COVER
GDX	Misc. Financial Services	SHORT	47.73	1.73	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.20	0.08	HOLD
IAG	Gold and Silver	LONG	12.84	3.63	HOLD
IDIX	Biotechnology and Drugs	SHORT	9.51	0.00	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.83	2.87	HOLD
ITRI	Electronic Instr. and Controls	SHORT	39.89	6.34	HOLD
KKD	Retail (Grocery)	LONG	6.17	1.31	HOLD
KLIC	Semiconductors	LONG	9.10	-1.52	HOLD
KRO	Chemical Manufacturing	LONG	16.29	1.43	HOLD
MNTA	Biotechnology and Drugs	LONG	15.71	1.03	HOLD
PAAS	Gold and Silver	LONG	18.49	0.87	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.98	0.06	HOLD
RES	Oil Well Services and Equipment	LONG	10.22	0.79	HOLD
RIG	Oil Well Services and Equipment	SHORT	43.74	-1.26	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.58	1.90	HOLD
SHS	Misc. Capital Goods	LONG	36.15	-2.01	HOLD
SJT	Misc. Financial Services	LONG	13.76	2.46	HOLD
SLV	Misc. Financial Services	LONG	27.87	0.22	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.70	-1.86	HOLD
STRA	Schools	LONG	89.12	-2.30	HOLD
STX	Computer Storage Devices	LONG	23.84	1.15	HOLD
TNH	Chemical Manufacturing	LONG	184.72	-2.54	HOLD
TPX	Furniture and Fixtures	LONG	23.45	-3.02	HOLD
VALE	Metal Mining	LONG	19.36	-0.26	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.74	3.89	HOLD
VWO	Misc. Financial Services	SHORT	39.39	0.40	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.05
SHORTS				0.66
TOTAL				-0.60
S&P 500				0.19
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.55	5.44	-35.06	-5.16	-0.80
S&P 500	4.11	5.44	-18.61	0.58	0.17

18-Jun-2012 Daily positions

Pre Opening Longs: APOL, ARLP, ASNA, AZN, BRKS, CEF, ESI, IAG, KKD, KLIC,
KRO, MNTA, PAAS, RES, SHS, SJT, SLV, STRA, STX, TNH, TPX, VALE
Pre Opening Shorts: ACHN, AFFY, ALNY, ARIA, BBOX, CSC, DNDN, DXCM, EXAS,
GDX, HGSI, IDIX, ITMN, ITRI, RDEA, RIG, RIGL, SQNM, VVUS, VWO