29-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.20	0.32	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.88	2.14	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.65	1.39	HOLD
APOL	Schools	LONG	36.19	1.37	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.21	1.89	HOLD
ARLP	Coal	LONG	56.12	1.45	HOLD
AZN	Biotechnology and Drugs	LONG	44.75	0.81	HOLD
BBOX	Computer Networks	SHORT	28.70	1.85	HOLD
BRKS	Semiconductors	LONG	9.44	3.68	HOLD
CEF	Misc. Financial Services	LONG	19.79	3.02	HOLD
CSC	Computer Services	SHORT	24.82	4.46	HOLD
ASNA	Retail (Apparel)	LONG	18.62	2.65	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.40	1.79	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.96	2.29	HOLD
ESI	Schools	LONG	60.75	2.67	HOLD
GDX	Misc. Financial Services	SHORT	44.76	3.35	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.13	0.54	HOLD
IAG	Gold and Silver	LONG	11.80	4.10	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.95	2.84	HOLD
ITRI	Electronic Instr. and Controls	SHORT	41.24	3.72	HOLD
KKD	Retail (Grocery)	LONG	6.39	4.07	HOLD
KLIC	Semiconductors	LONG	8.92	4.33	HOLD
KRO	Chemical Manufacturing	LONG	15.79	-2.47	HOLD
PAAS	Gold and Silver	LONG	16.88	2.49	HOLD
RES	Oil Well Services and Equipment	LONG	11.89	3.93	HOLD
RIG	Oil Well Services and Equipment	SHORT	44.73	4.27	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.30	3.56	HOLD
SHS	Misc. Capital Goods	LONG	34.93	3.25	HOLD
SJT	Misc. Financial Services	LONG	14.99	1.70	HOLD
SLV	Misc. Financial Services	LONG	26.66	4.02	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.06	2.53	HOLD
STRA	Schools	LONG	109.02	5.79	HOLD
STX	Computer Storage Devices	LONG	24.73	6.37	HOLD
TNH	Chemical Manufacturing	LONG	211.80	-2.08	HOLD
TPX	Furniture and Fixtures	LONG	23.39	5.27	HOLD
VALE	Metal Mining	LONG	19.85	5.70	HOLD
VWO	Misc. Financial Services	SHORT	39.93	4.20	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.96
SHORTS				2.57
TOTAL				0.39
S&P 500				2.50
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.45	5.34	-36.44	-5.11	-0.75
S&P 500	5.43	5.31	-18.61	0.77	0.22

28-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.18	-0.32	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.61	-5.33	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.49	-4.33	HOLD
APOL	Schools	LONG	35.70	-0.64	HOLD
ARIA	Biotechnology and Drugs	SHORT	16.89	-3.15	HOLD
ARLP	Coal	LONG	55.32	0.20	HOLD
AZN	Biotechnology and Drugs	LONG	44.39	1.46	HOLD
BBOX	Computer Networks	SHORT	28.18	1.40	HOLD
BRKS	Semiconductors	LONG	9.10	0.83	HOLD
CEF	Misc. Financial Services	LONG	19.21	-1.34	HOLD
CSC	Computer Services	SHORT	23.76	0.42	HOLD
ASNA	Retail (Apparel)	LONG	18.14	-1.63	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.27	-2.02	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.67	-1.48	HOLD
ESI	Schools	LONG	59.17	-0.40	HOLD
GDX	Misc. Financial Services	SHORT	43.33	-2.15	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.06	-0.46	HOLD
IAG	Gold and Silver	LONG	11.46	-3.21	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.04	-4.65	COVER
ITMN	Biotechnology and Drugs	SHORT	11.62	-2.52	HOLD
ITRI	Electronic Instr. and Controls	SHORT	39.76	-0.18	HOLD
KKD	Retail (Grocery)	LONG	6.14	-1.76	HOLD
KLIC	Semiconductors	LONG	8.55	-2.06	HOLD
KRO	Chemical Manufacturing	LONG	16.19	0.62	HOLD
MNTA	Biotechnology and Drugs	LONG	13.33	-1.26	SELL
PAAS	Gold and Silver	LONG	16.47	-2.83	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	COVER
RES	Oil Well Services and Equipment	LONG	11.44	5.05	HOLD
RIG	Oil Well Services and Equipment	SHORT	42.90	-0.63	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.98	0.00	HOLD
SHS	Misc. Capital Goods	LONG	33.83	-0.65	HOLD
SJT	Misc. Financial Services	LONG	14.74	-0.07	HOLD
SLV	Misc. Financial Services	LONG	25.63	-1.91	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.96	-2.94	HOLD
STRA	Schools	LONG	103.05	2.06	HOLD
STX	Computer Storage Devices	LONG	23.25	-5.22	HOLD
TNH	Chemical Manufacturing	LONG	216.31	-2.03	HOLD
TPX	Furniture and Fixtures	LONG	22.22	2.16	HOLD
VALE	Metal Mining	LONG	18.78	-1.26	HOLD
VVUS	Biotechnology and Drugs	SHORT	28.52	0.67	COVER
VWO	Misc. Financial Services	SHORT	38.32	-0.42	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.63
SHORTS				-1.48
TOTAL				0.85
S&P 500				-0.29
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.67	5.38	-36.44	-5.12	-0.76
S&P 500	2.86	5.49	-18.61	0.39	0.12

28-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

27-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.20	0.81	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.32	2.54	HOLD
ALNY	Biotechnology and Drugs	SHORT	12.01	1.18	HOLD
APOL	Schools	LONG	35.93	0.34	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.44	-0.06	HOLD
ARLP	Coal	LONG	55.21	1.01	HOLD
AZN	Biotechnology and Drugs	LONG	43.75	0.81	HOLD
BBOX	Computer Networks	SHORT	27.79	2.21	HOLD
BRKS	Semiconductors	LONG	9.03	0.89	HOLD
CEF	Misc. Financial Services	LONG	19.47	-0.36	HOLD
CSC	Computer Services	SHORT	23.66	1.59	HOLD
ASNA	Retail (Apparel)	LONG	18.44	-2.69	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.42	0.27	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.86	3.13	HOLD
ESI	Schools	LONG	59.41	2.18	HOLD
GDX	Misc. Financial Services	SHORT	44.28	-0.38	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.12	0.31	HOLD
IAG	Gold and Silver	LONG	11.84	1.98	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.53	-0.85	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.92	2.85	HOLD
ITRI	Electronic Instr. and Controls	SHORT	39.83	1.04	HOLD
KKD	Retail (Grocery)	LONG	6.25	-1.42	HOLD
KLIC	Semiconductors	LONG	8.73	0.34	HOLD
KRO	Chemical Manufacturing	LONG	16.09	2.03	HOLD
MNTA	Biotechnology and Drugs	LONG	13.50	1.81	HOLD
PAAS	Gold and Silver	LONG	16.95	0.83	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.89	7.50	HOLD
RIG	Oil Well Services and Equipment	SHORT	43.17	1.86	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.98	1.01	HOLD
SHS	Misc. Capital Goods	LONG	34.05	0.86	HOLD
SJT	Misc. Financial Services	LONG	14.75	3.51	HOLD
SLV	Misc. Financial Services	LONG	26.13	-0.65	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.08	-1.45	HOLD
STRA	Schools	LONG	100.97	0.03	HOLD
STX	Computer Storage Devices	LONG	24.53	1.70	HOLD
TNH	Chemical Manufacturing	LONG	220.80	0.84	HOLD
TPX	Furniture and Fixtures	LONG	21.75	3.47	HOLD
VALE	Metal Mining	LONG	19.02	-0.63	HOLD
VVUS	Biotechnology and Drugs	SHORT	28.33	7.35	HOLD
VWO	Misc. Financial Services	SHORT	38.48	0.55	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.11
SHORTS				1.26
TOTAL				-0.15
S&P 500				0.90
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.22	5.46	-36.44	-5.14	-0.77
S&P 500	3.15	5.47	-18.61	0.44	0.13

27-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

26-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.15	-3.61	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.99	-0.92	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.87	1.98	HOLD
APOL	Schools	LONG	35.81	10.29	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.45	2.35	HOLD
ARLP	Coal	LONG	54.66	-0.11	HOLD
AZN	Biotechnology and Drugs	LONG	43.40	1.62	HOLD
BBOX	Computer Networks	SHORT	27.27	-0.26	HOLD
BRKS	Semiconductors	LONG	8.95	-0.11	HOLD
CEF	Misc. Financial Services	LONG	19.55	-1.16	HOLD
CSC	Computer Services	SHORT	23.29	-0.17	HOLD
ASNA	Retail (Apparel)	LONG	18.95	1.07	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.40	-1.40	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.47	-1.27	HOLD
ESI	Schools	LONG	58.14	0.17	HOLD
GDX	Misc. Financial Services	SHORT	44.45	-1.57	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.08	-0.83	HOLD
IAG	Gold and Silver	LONG	11.61	-1.53	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.62	0.00	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.59	-0.34	HOLD
ITRI	Electronic Instr. and Controls	SHORT	39.42	1.57	HOLD
KKD	Retail (Grocery)	LONG	6.34	1.60	HOLD
KLIC	Semiconductors	LONG	8.70	0.58	HOLD
KRO	Chemical Manufacturing	LONG	15.77	1.15	HOLD
MNTA	Biotechnology and Drugs	LONG	13.26	0.47	HOLD
PAAS	Gold and Silver	LONG	16.81	-2.27	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.13	0.00	HOLD
RIG	Oil Well Services and Equipment	SHORT	42.38	0.67	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.89	0.34	HOLD
SHS	Misc. Capital Goods	LONG	34.11	0.83	HOLD
SJT	Misc. Financial Services	LONG	14.32	2.43	HOLD
SLV	Misc. Financial Services	LONG	26.29	-1.57	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.14	6.15	HOLD
STRA	Schools	LONG	100.94	7.83	HOLD
STX	Computer Storage Devices	LONG	24.12	3.65	HOLD
TNH	Chemical Manufacturing	LONG	218.95	7.10	HOLD
TPX	Furniture and Fixtures	LONG	21.02	-0.85	HOLD
VALE	Metal Mining	LONG	19.14	2.35	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.39	-0.11	HOLD
VWO	Misc. Financial Services	SHORT	38.27	0.90	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.52
SHORTS				0.18
TOTAL				1.34
S&P 500				0.50
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.09	5.45	-36.44	-5.14	-0.77
S&P 500	2.23	5.55	-18.61	0.31	0.09

26-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

25-Jun-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.38	-3.33	HOLD
AFFY	Biotechnology and Drugs	SHORT	13.11	0.08	HOLD
ALNY	Biotechnology and Drugs	SHORT	11.64	-1.02	HOLD
APOL	Schools	LONG	32.47	-3.22	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.05	-2.24	HOLD
ARLP	Coal	LONG	54.72	-1.19	HOLD
AZN	Biotechnology and Drugs	LONG	42.71	-1.41	HOLD
BBOX	Computer Networks	SHORT	27.34	-0.76	HOLD
BRKS	Semiconductors	LONG	8.96	-5.58	HOLD
CEF	Misc. Financial Services	LONG	19.78	1.38	HOLD
CSC	Computer Services	SHORT	23.33	-2.38	HOLD
ASNA	Retail (Apparel)	LONG	18.75	-1.94	HOLD
DNDN	Biotechnology and Drugs	SHORT	7.51	-1.12	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.63	-3.07	HOLD
ESI	Schools	LONG	58.04	4.52	HOLD
GDX	Misc. Financial Services	SHORT	45.16	1.30	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.19	-1.20	HOLD
IAG	Gold and Silver	LONG	11.79	0.68	HOLD
IDIX	Biotechnology and Drugs	SHORT	10.62	-1.89	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.63	-2.76	HOLD
ITRI	Electronic Instr. and Controls	SHORT	38.86	0.41	HOLD
KKD	Retail (Grocery)	LONG	6.24	2.13	HOLD
KLIC	Semiconductors	LONG	8.65	-5.98	HOLD
KRO	Chemical Manufacturing	LONG	15.59	-3.77	HOLD
MNTA	Biotechnology and Drugs	LONG	13.20	-22.41	HOLD
PAAS	Gold and Silver	LONG	17.20	-0.17	HOLD
RDEA	Biotechnology and Drugs	SHORT	31.96	0.00	HOLD
RES	Oil Well Services and Equipment	LONG	10.13	-2.03	HOLD
RIG	Oil Well Services and Equipment	SHORT	42.10	-2.57	HOLD
RIGL	Biotechnology and Drugs	SHORT	8.86	-1.77	HOLD
SHS	Misc. Capital Goods	LONG	33.83	-4.00	HOLD
SJT	Misc. Financial Services	LONG	13.98	-1.13	HOLD
SLV	Misc. Financial Services	LONG	26.71	2.14	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.90	-5.80	HOLD
STRA	Schools	LONG	93.61	-0.01	HOLD
STX	Computer Storage Devices	LONG	23.27	-0.30	HOLD
TNH	Chemical Manufacturing	LONG	204.44	3.24	HOLD
TPX	Furniture and Fixtures	LONG	21.20	-3.77	HOLD
VALE	Metal Mining	LONG	18.70	-2.40	HOLD
VVUS	Biotechnology and Drugs	SHORT	26.42	-0.34	HOLD
VWO	Misc. Financial Services	SHORT	37.93	-1.81	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.06
SHORTS				-1.59
TOTAL				-0.46
S&P 500				-1.60
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.95	5.59	-36.45	-5.16	-0.79
S&P 500	1.72	5.61	-18.61	0.23	0.07

25-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