13-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.52	2.68	HOLD
AFFY	Biotechnology and Drugs	SHORT	16.49	15.80	HOLD
ALNY	Biotechnology and Drugs	SHORT	12.52	0.72	HOLD
APOL	Schools	LONG	31.77	-0.66	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.48	0.52	HOLD
ARLP	Coal	LONG	60.04	0.10	HOLD
AZN	Biotechnology and Drugs	LONG	45.71	1.56	HOLD
BBOX	Computer Networks	SHORT	27.24	1.95	HOLD
BRKS	Semiconductors	LONG	9.24	0.11	HOLD
CEF	Misc. Financial Services	LONG	19.48	0.62	HOLD
CSC	Computer Services	SHORT	23.73	2.91	HOLD
ASNA	Retail (Apparel)	LONG	18.87	2.95	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.05	-2.42	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.97	1.97	HOLD
ESI	Schools	LONG	55.85	-2.27	HOLD
GDX	Misc. Financial Services	SHORT	42.31	1.44	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.58	0.59	HOLD
IAG	Gold and Silver	LONG	10.98	1.29	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.60	2.61	HOLD
ITRI	Electronic Instr. and Controls	SHORT	41.52	0.51	HOLD
KKD	Retail (Grocery)	LONG	6.27	2.79	HOLD
KLIC	Semiconductors	LONG	8.49	2.41	HOLD
KRO	Chemical Manufacturing	LONG	14.32	4.22	HOLD
PAAS	Gold and Silver	LONG	14.64	0.48	HOLD
RES	Oil Well Services and Equipment	LONG	11.53	2.31	HOLD
RIG	Oil Well Services and Equipment	SHORT	46.50	4.73	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.79	1.03	HOLD
SHS	Misc. Capital Goods	LONG	36.46	0.61	HOLD
SJT	Misc. Financial Services	LONG	15.69	-1.32	HOLD
SLV	Misc. Financial Services	LONG	26.44	0.34	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.92	3.98	HOLD
STRA	Schools	LONG	101.58	1.29	HOLD
STX	Computer Storage Devices	LONG	25.81	2.30	HOLD
TNH	Chemical Manufacturing	LONG	204.50	-1.60	HOLD
TPX	Furniture and Fixtures	LONG	25.69	5.81	HOLD
VALE	Metal Mining	LONG	19.64	2.08	HOLD
VWO	Misc. Financial Services	SHORT	39.33	1.86	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.21
SHORTS				2.55
TOTAL				-1.35
S&P 500				1.68
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-36.38	5.49	-36.87	-5.15	-0.77
S&P 500	5.15	5.29	-18.61	0.71	0.20

13-Jul-2012 Daily positions

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

12-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.35	2.92	HOLD
AFFY	Biotechnology and Drugs	SHORT	14.24	19.16	HOLD
ALNY	Biotechnology and Drugs	SHORT	12.43	1.06	HOLD
APOL	Schools	LONG	31.98	-1.42	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.39	1.64	HOLD
ARLP	Coal	LONG	59.98	-0.83	HOLD
AZN	Biotechnology and Drugs	LONG	45.01	-1.25	HOLD
BBOX	Computer Networks	SHORT	26.72	-1.62	HOLD
BRKS	Semiconductors	LONG	9.23	-2.02	HOLD
CEF	Misc. Financial Services	LONG	19.36	-0.15	HOLD
CSC	Computer Services	SHORT	23.06	-0.52	HOLD
ASNA	Retail (Apparel)	LONG	18.33	-0.54	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.20	-1.12	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.72	-2.97	HOLD
ESI	Schools	LONG	57.15	-2.86	HOLD
GDX	Misc. Financial Services	SHORT	41.71	-0.62	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.50	-1.17	HOLD
IAG	Gold and Silver	LONG	10.84	0.37	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.30	4.15	HOLD
ITRI	Electronic Instr. and Controls	SHORT	41.31	0.36	HOLD
KKD	Retail (Grocery)	LONG	6.10	0.00	HOLD
KLIC	Semiconductors	LONG	8.29	-0.72	HOLD
KRO	Chemical Manufacturing	LONG	13.74	1.25	HOLD
PAAS	Gold and Silver	LONG	14.57	-0.21	HOLD
RES	Oil Well Services and Equipment	LONG	11.27	-2.00	HOLD
RIG	Oil Well Services and Equipment	SHORT	44.40	0.86	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.69	-0.10	HOLD
SHS	Misc. Capital Goods	LONG	36.24	1.17	HOLD
SJT	Misc. Financial Services	LONG	15.90	-1.18	HOLD
SLV	Misc. Financial Services	LONG	26.35	0.38	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.77	0.80	HOLD
STRA	Schools	LONG	100.29	0.26	HOLD
STX	Computer Storage Devices	LONG	25.23	-0.55	HOLD
TNH	Chemical Manufacturing	LONG	208.11	-2.30	HOLD
TPX	Furniture and Fixtures	LONG	24.28	1.85	HOLD
VALE	Metal Mining	LONG	19.24	-0.62	HOLD
VWO	Misc. Financial Services	SHORT	38.61	-1.58	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.54
SHORTS				1.33
TOTAL				-1.87
S&P 500				-0.48
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.51	5.40	-36.44	-5.12	-0.76
S&P 500	3.42	5.41	-18.61	0.46	0.13

12-Jul-2012 Daily positions

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

11-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.17	0.98	HOLD
AFFY	Biotechnology and Drugs	SHORT	11.95	-1.73	HOLD
ALNY	Biotechnology and Drugs	SHORT	12.30	-6.25	HOLD
APOL	Schools	LONG	32.44	-4.35	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.11	-3.00	HOLD
ARLP	Coal	LONG	60.48	1.89	HOLD
AZN	Biotechnology and Drugs	LONG	45.58	0.60	HOLD
BBOX	Computer Networks	SHORT	27.16	0.33	HOLD
BRKS	Semiconductors	LONG	9.42	0.43	HOLD
CEF	Misc. Financial Services	LONG	19.39	0.10	HOLD
CSC	Computer Services	SHORT	23.18	-1.11	HOLD
ASNA	Retail (Apparel)	LONG	18.43	0.22	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.27	-6.56	HOLD
DXCM	Medical Equipment and Supplies	SHORT	13.11	0.69	HOLD
ESI	Schools	LONG	58.83	-1.79	HOLD
GDX	Misc. Financial Services	SHORT	41.97	-2.10	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.66	0.15	HOLD
IAG	Gold and Silver	LONG	10.80	0.47	HOLD
ITMN	Biotechnology and Drugs	SHORT	10.85	-3.81	HOLD
ITRI	Electronic Instr. and Controls	SHORT	41.16	0.91	HOLD
KKD	Retail (Grocery)	LONG	6.10	-1.29	HOLD
KLIC	Semiconductors	LONG	8.35	-1.65	HOLD
KRO	Chemical Manufacturing	LONG	13.57	-2.44	HOLD
PAAS	Gold and Silver	LONG	14.60	0.55	HOLD
RES	Oil Well Services and Equipment	LONG	11.50	-2.87	HOLD
RIG	Oil Well Services and Equipment	SHORT	44.02	1.66	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.70	-0.72	HOLD
SHS	Misc. Capital Goods	LONG	35.82	0.39	HOLD
SJT	Misc. Financial Services	LONG	16.08	1.01	HOLD
SLV	Misc. Financial Services	LONG	26.25	0.73	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.74	-1.58	HOLD
STRA	Schools	LONG	100.03	-1.86	HOLD
STX	Computer Storage Devices	LONG	25.37	0.08	HOLD
TNH	Chemical Manufacturing	LONG	215.89	2.24	HOLD
TPX	Furniture and Fixtures	LONG	23.84	1.53	HOLD
VALE	Metal Mining	LONG	19.36	-0.31	HOLD
VWO	Misc. Financial Services	SHORT	39.23	0.46	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.30
SHORTS				-1.35
TOTAL				1.05
S&P 500				0.01
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.24	5.28	-36.44	-5.05	-0.73
S&P 500	3.92	5.38	-18.61	0.54	0.16

11-Jul-2012 Daily positions

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

10-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.11	-5.56	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.16	-0.65	HOLD
ALNY	Biotechnology and Drugs	SHORT	13.12	1.43	HOLD
APOL	Schools	LONG	33.92	-3.90	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.64	-1.95	HOLD
ARLP	Coal	LONG	59.36	-2.39	HOLD
AZN	Biotechnology and Drugs	LONG	45.31	-0.48	HOLD
BBOX	Computer Networks	SHORT	27.07	-1.67	HOLD
BRKS	Semiconductors	LONG	9.38	-1.78	HOLD
CEF	Misc. Financial Services	LONG	19.37	-1.73	HOLD
CSC	Computer Services	SHORT	23.44	-2.33	HOLD
ASNA	Retail (Apparel)	LONG	18.39	1.71	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.71	-0.89	HOLD
DXCM	Medical Equipment and Supplies	SHORT	13.02	1.01	HOLD
ESI	Schools	LONG	59.90	-2.06	HOLD
GDX	Misc. Financial Services	SHORT	42.82	-3.23	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.64	-0.22	HOLD
IAG	Gold and Silver	LONG	10.75	-4.53	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.28	-2.00	HOLD
ITRI	Electronic Instr. and Controls	SHORT	40.79	-3.39	HOLD
KKD	Retail (Grocery)	LONG	6.18	-0.48	HOLD
KLIC	Semiconductors	LONG	8.49	-1.05	HOLD
KRO	Chemical Manufacturing	LONG	13.91	-2.86	HOLD
PAAS	Gold and Silver	LONG	14.52	-3.52	HOLD
RES	Oil Well Services and Equipment	LONG	11.84	-2.39	HOLD
RIG	Oil Well Services and Equipment	SHORT	43.30	-2.06	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.77	-0.20	HOLD
SHS	Misc. Capital Goods	LONG	35.68	-0.70	HOLD
SJT	Misc. Financial Services	LONG	15.92	-1.91	HOLD
SLV	Misc. Financial Services	LONG	26.06	-1.81	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.80	-6.17	HOLD
STRA	Schools	LONG	101.93	-4.19	HOLD
STX	Computer Storage Devices	LONG	25.35	-2.39	HOLD
TNH	Chemical Manufacturing	LONG	211.75	-2.70	HOLD
TPX	Furniture and Fixtures	LONG	23.48	-1.92	HOLD
VALE	Metal Mining	LONG	19.42	-1.77	HOLD
VWO	Misc. Financial Services	SHORT	39.05	-0.99	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.04
SHORTS				-1.80
TOTAL				-0.24
S&P 500				-0.87
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.91	5.35	-36.44	-5.10	-0.75
S&P 500	3.90	5.39	-18.61	0.53	0.15

09-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.47	-7.04	HOLD
AFFY	Biotechnology and Drugs	SHORT	12.24	-3.47	HOLD
ALNY	Biotechnology and Drugs	SHORT	12.94	0.51	HOLD
APOL	Schools	LONG	35.29	-3.45	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.99	0.00	HOLD
ARLP	Coal	LONG	60.81	1.19	HOLD
AZN	Biotechnology and Drugs	LONG	45.53	0.55	HOLD
BBOX	Computer Networks	SHORT	27.53	-0.36	HOLD
BRKS	Semiconductors	LONG	9.54	-0.42	HOLD
CEF	Misc. Financial Services	LONG	19.71	0.66	HOLD
CSC	Computer Services	SHORT	24.00	-0.95	HOLD
ASNA	Retail (Apparel)	LONG	18.08	-2.59	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.77	-3.15	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.89	0.78	HOLD
ESI	Schools	LONG	61.16	-1.74	HOLD
GDX	Misc. Financial Services	SHORT	44.25	-0.41	HOLD
HGSI	Biotechnology and Drugs	SHORT	13.67	0.37	HOLD
IAG	Gold and Silver	LONG	11.26	-0.53	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.51	-2.33	HOLD
ITRI	Electronic Instr. and Controls	SHORT	42.22	-0.66	HOLD
KKD	Retail (Grocery)	LONG	6.21	-0.80	HOLD
KLIC	Semiconductors	LONG	8.58	-2.28	HOLD
KRO	Chemical Manufacturing	LONG	14.32	-8.62	HOLD
PAAS	Gold and Silver	LONG	15.05	-4.75	HOLD
RES	Oil Well Services and Equipment	LONG	12.13	3.59	HOLD
RIG	Oil Well Services and Equipment	SHORT	44.21	-1.05	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.79	0.20	HOLD
SHS	Misc. Capital Goods	LONG	35.93	-0.33	HOLD
SJT	Misc. Financial Services	LONG	16.23	3.18	HOLD
SLV	Misc. Financial Services	LONG	26.54	0.91	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.05	1.50	HOLD
STRA	Schools	LONG	106.39	-1.89	HOLD
STX	Computer Storage Devices	LONG	25.97	4.07	HOLD
TNH	Chemical Manufacturing	LONG	217.62	-0.17	HOLD
TPX	Furniture and Fixtures	LONG	23.94	-1.12	HOLD
VALE	Metal Mining	LONG	19.77	-0.75	HOLD
VWO	Misc. Financial Services	SHORT	39.44	-0.45	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.73
SHORTS				-1.03
TOTAL				0.31
S&P 500				-0.13
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-34.76	5.35	-36.44	-5.09	-0.75
S&P 500	4.82	5.33	-18.61	0.67	0.19