20-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.37	-4.21	HOLD
ALNY	Biotechnology and Drugs	SHORT	18.74	-0.11	HOLD
ANDE	Crops	LONG	37.30	-1.95	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.92	-1.75	HOLD
BBT	Regional Banks	SHORT	31.68	-1.00	HOLD
BRKS	Semiconductors	LONG	8.89	-3.58	HOLD
CORE	Retail (Grocery)	LONG	48.45	-0.66	HOLD
ASNA	Retail (Apparel)	LONG	18.83	-2.13	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.52	1.72	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.01	-5.95	HOLD
ESI	Schools	LONG	57.45	-0.61	HOLD
FRED	Retail (Department and Discount)	LONG	14.37	-1.37	HOLD
GDX	Misc. Financial Services	SHORT	41.72	0.32	HOLD
HBC	Regional Banks	SHORT	41.71	-3.25	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.22	0.07	HOLD
ISBC	SandLs/Savings Banks	SHORT	15.43	-1.53	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.71	-1.60	HOLD
KELYA	Business Services	LONG	11.77	-2.73	HOLD
KLIC	Semiconductors	LONG	8.58	-2.05	HOLD
LAD	Retail (Specialty)	LONG	26.22	-0.53	HOLD
NFP	Investment Services	LONG	13.92	-1.14	HOLD
NJR	Natural Gas Utilities	LONG	46.05	0.00	HOLD
NR	Oil Well Services and Equipment	LONG	6.29	-1.10	HOLD
RIG	Oil Well Services and Equipment	SHORT	47.81	0.13	HOLD
RIGL	Biotechnology and Drugs	SHORT	10.00	-0.10	HOLD
RUSHA	Retail (Specialty)	LONG	14.76	-1.01	HOLD
SJT	Misc. Financial Services	LONG	16.45	0.06	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.07	0.99	HOLD
STRA	Schools	LONG	102.75	-0.96	HOLD
STX	Computer Storage Devices	LONG	26.80	-1.34	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.47	-0.32	HOLD
TPX	Furniture and Fixtures	LONG	26.54	-3.74	HOLD
USTR	Office Supplies	LONG	27.16	-1.20	HOLD
VWO	Misc. Financial Services	SHORT	39.38	-1.49	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.45
SHORTS				-1.13
TOTAL				-0.32
S&P 500				-0.91
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.65	5.76	-39.29	-5.17	-0.76
S&P 500	6.25	5.23	-18.60	0.86	0.24

19-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.65	-1.48	HOLD
ALNY	Biotechnology and Drugs	SHORT	18.76	0.21	HOLD
ANDE	Crops	LONG	38.04	0.11	HOLD
ARIA	Biotechnology and Drugs	SHORT	18.24	1.62	HOLD
BBT	Regional Banks	SHORT	32.00	1.23	HOLD
BRKS	Semiconductors	LONG	9.22	-0.54	HOLD
CORE	Retail (Grocery)	LONG	48.77	-0.41	HOLD
ASNA	Retail (Apparel)	LONG	19.24	0.84	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.41	-2.73	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.77	-0.08	HOLD
ESI	Schools	LONG	57.80	2.07	HOLD
FRED	Retail (Department and Discount)	LONG	14.57	-0.48	HOLD
GDX	Misc. Financial Services	SHORT	41.59	1.14	HOLD
HBC	Regional Banks	SHORT	43.11	0.89	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.21	0.00	HOLD
ISBC	SandLs/Savings Banks	SHORT	15.67	0.71	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.90	-0.17	HOLD
KELYA	Business Services	LONG	12.10	-0.82	HOLD
KLIC	Semiconductors	LONG	8.76	2.22	HOLD
LAD	Retail (Specialty)	LONG	26.36	1.03	HOLD
NFP	Investment Services	LONG	14.08	-1.88	HOLD
NJR	Natural Gas Utilities	LONG	46.05	-0.09	HOLD
NR	Oil Well Services and Equipment	LONG	6.36	-1.70	HOLD
RIG	Oil Well Services and Equipment	SHORT	47.75	1.55	HOLD
RIGL	Biotechnology and Drugs	SHORT	10.01	-0.30	HOLD
RUSHA	Retail (Specialty)	LONG	14.91	-0.47	HOLD
SJT	Misc. Financial Services	LONG	16.44	2.62	HOLD
SQNM	Medical Equipment and Supplies	SHORT	4.03	3.33	HOLD
STRA	Schools	LONG	103.75	1.31	HOLD
STX	Computer Storage Devices	LONG	27.17	-1.33	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.50	1.06	HOLD
TPX	Furniture and Fixtures	LONG	27.57	7.99	HOLD
USTR	Office Supplies	LONG	27.49	-0.69	HOLD
VWO	Misc. Financial Services	SHORT	39.98	1.01	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.54
SHORTS				0.50
TOTAL				0.04
S&P 500				0.26
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.46	5.74	-39.29	-5.18	-0.76
S&P 500	7.23	5.19	-18.60	1.00	0.28

19-Jul-2012 Daily positions

Pre Opening Longs: ANDE, ASNA, BRKS, CORE, ESI, FRED, KELYA, KLIC, LAD,
NFP, NJR, NR, RUSHA, SJT, STRA, STX, TPX, USTR
Pre Opening Shorts: ACHN, ALNY, ARIA, BBT, DNDN, DXCM, GDX, HBC, HGSI,
ISBC, ITMN, RIG, RIGL, SQNM, TFSL, VWO

18-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.75	1.05	HOLD
AFFY	Biotechnology and Drugs	SHORT	16.90	-1.00	COVER
ALNY	Biotechnology and Drugs	SHORT	18.72	0.43	HOLD
ANDE	Crops	LONG	38.00	-0.68	BUY
APOL	Schools	LONG	30.63	-1.23	SELL
ARIA	Biotechnology and Drugs	SHORT	17.95	0.79	HOLD
ARLP	Coal	LONG	58.55	1.81	SELL
AZN	Biotechnology and Drugs	LONG	46.69	0.78	SELL
BBOX	Computer Networks	SHORT	27.98	2.60	COVER
BBT	Regional Banks	SHORT	31.61	-0.85	SHORT
BRKS	Semiconductors	LONG	9.27	1.20	HOLD
CEF	Misc. Financial Services	LONG	19.36	-0.21	SELL
CORE	Retail (Grocery)	LONG	48.97	0.33	BUY
CSC	Computer Services	SHORT	23.86	1.75	COVER
ASNA	Retail (Apparel)	LONG	19.08	3.58	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.59	2.49	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.78	-0.93	HOLD
ESI	Schools	LONG	56.63	0.34	HOLD
FRED	Retail (Department and Discount)	LONG	14.64	0.90	BUY
GDX	Misc. Financial Services	SHORT	41.12	-1.39	HOLD
HBC	Regional Banks	SHORT	42.73	-1.27	SHORT
HGSI	Biotechnology and Drugs	SHORT	14.21	0.00	HOLD
IAG	Gold and Silver	LONG	10.58	-0.84	SELL
ISBC	SandLs/Savings Banks	SHORT	15.56	-0.70	SHORT
ITMN	Biotechnology and Drugs	SHORT	11.92	0.17	HOLD
ITRI	Electronic Instr. and Controls	SHORT	41.22	2.61	COVER
KELYA	Business Services	LONG	12.20	0.16	BUY
KKD	Retail (Grocery)	LONG	6.59	-1.79	SELL
KLIC	Semiconductors	LONG	8.57	2.39	HOLD
KRO	Chemical Manufacturing	LONG	15.08	3.01	SELL
LAD	Retail (Specialty)	LONG	26.09	4.70	BUY
NFP	Investment Services	LONG	14.35	1.20	BUY
NJR	Natural Gas Utilities	LONG	46.09	0.66	BUY
NR	Oil Well Services and Equipment	LONG	6.47	1.89	BUY
PAAS	Gold and Silver	LONG	14.18	-0.84	SELL
RES	Oil Well Services and Equipment	LONG	12.46	5.77	SELL
RIG	Oil Well Services and Equipment	SHORT	47.02	1.40	HOLD
RIGL	Biotechnology and Drugs	SHORT	10.04	2.14	HOLD
RUSHA	Retail (Specialty)	LONG	14.98	1.08	BUY
SHS	Misc. Capital Goods	LONG	37.03	4.87	SELL
SJT	Misc. Financial Services	LONG	16.02	-1.29	HOLD
SLV	Misc. Financial Services	LONG	26.42	-0.19	SELL
SQNM	Medical Equipment and Supplies	SHORT	3.90	1.56	HOLD
STRA	Schools	LONG	102.41	0.59	HOLD
STX	Computer Storage Devices	LONG	27.53	2.84	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.40	-0.53	SHORT
TNH	Chemical Manufacturing	LONG	231.20	2.30	SELL
TPX	Furniture and Fixtures	LONG	25.53	0.87	HOLD
USTR	Office Supplies	LONG	27.68	1.21	BUY
VALE	Metal Mining	LONG	19.51	0.10	SELL
VWO	Misc. Financial Services	SHORT	39.60	-0.30	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.15
SHORTS				0.84
TOTAL				0.31
S&P 500				0.74
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.48	5.76	-39.29	-5.18	-0.76
S&P 500	6.95	5.21	-18.60	0.96	0.27

17-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.68	2.14	HOLD
AFFY	Biotechnology and Drugs	SHORT	17.07	4.15	HOLD
ALNY	Biotechnology and Drugs	SHORT	18.64	-2.71	HOLD
APOL	Schools	LONG	31.01	-2.94	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.81	0.56	HOLD
ARLP	Coal	LONG	57.51	-2.26	HOLD
AZN	Biotechnology and Drugs	LONG	46.33	0.91	HOLD
BBOX	Computer Networks	SHORT	27.27	1.75	HOLD
BRKS	Semiconductors	LONG	9.16	0.66	HOLD
CEF	Misc. Financial Services	LONG	19.40	-0.41	HOLD
CSC	Computer Services	SHORT	23.45	0.51	HOLD
ASNA	Retail (Apparel)	LONG	18.42	-0.75	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.43	-0.77	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.90	-0.31	HOLD
ESI	Schools	LONG	56.44	-0.41	HOLD
GDX	Misc. Financial Services	SHORT	41.70	-1.09	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.21	0.14	HOLD
IAG	Gold and Silver	LONG	10.67	-1.75	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.90	2.67	HOLD
ITRI	Electronic Instr. and Controls	SHORT	40.17	-1.64	HOLD
KKD	Retail (Grocery)	LONG	6.71	2.91	HOLD
KLIC	Semiconductors	LONG	8.37	0.12	HOLD
KRO	Chemical Manufacturing	LONG	14.64	2.59	HOLD
PAAS	Gold and Silver	LONG	14.30	-1.31	HOLD
RES	Oil Well Services and Equipment	LONG	11.78	3.88	HOLD
RIG	Oil Well Services and Equipment	SHORT	46.37	-0.51	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.83	0.82	HOLD
SHS	Misc. Capital Goods	LONG	35.31	-0.23	HOLD
SJT	Misc. Financial Services	LONG	16.23	4.17	HOLD
SLV	Misc. Financial Services	LONG	26.47	-0.08	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.84	-0.26	HOLD
STRA	Schools	LONG	101.81	0.61	HOLD
STX	Computer Storage Devices	LONG	26.77	2.80	HOLD
TNH	Chemical Manufacturing	LONG	226.00	4.95	HOLD
TPX	Furniture and Fixtures	LONG	25.31	-0.04	HOLD
VALE	Metal Mining	LONG	19.49	0.36	HOLD
VWO	Misc. Financial Services	SHORT	39.72	1.20	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.66
SHORTS				0.42
TOTAL				0.24
S&P 500				0.69
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.67	5.79	-39.29	-5.19	-0.76
S&P 500	6.17	5.24	-18.60	0.85	0.24

17-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

16-Jul-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACHN	Major Drugs	SHORT	6.54	0.31	HOLD
AFFY	Biotechnology and Drugs	SHORT	16.39	-0.61	HOLD
ALNY	Biotechnology and Drugs	SHORT	19.16	53.04	HOLD
APOL	Schools	LONG	31.95	0.57	HOLD
ARIA	Biotechnology and Drugs	SHORT	17.71	1.32	HOLD
ARLP	Coal	LONG	58.84	-2.00	HOLD
AZN	Biotechnology and Drugs	LONG	45.91	0.44	HOLD
BBOX	Computer Networks	SHORT	26.80	-1.62	HOLD
BRKS	Semiconductors	LONG	9.10	-1.52	HOLD
CEF	Misc. Financial Services	LONG	19.48	0.00	HOLD
CSC	Computer Services	SHORT	23.33	-1.69	HOLD
ASNA	Retail (Apparel)	LONG	18.56	-1.64	HOLD
DNDN	Biotechnology and Drugs	SHORT	6.48	7.11	HOLD
DXCM	Medical Equipment and Supplies	SHORT	12.94	-0.23	HOLD
ESI	Schools	LONG	56.67	1.47	HOLD
GDX	Misc. Financial Services	SHORT	42.16	-0.35	HOLD
HGSI	Biotechnology and Drugs	SHORT	14.19	4.49	HOLD
IAG	Gold and Silver	LONG	10.86	-1.09	HOLD
ITMN	Biotechnology and Drugs	SHORT	11.59	-0.04	HOLD
ITRI	Electronic Instr. and Controls	SHORT	40.84	-1.64	HOLD
KKD	Retail (Grocery)	LONG	6.52	3.99	HOLD
KLIC	Semiconductors	LONG	8.36	-1.53	HOLD
KRO	Chemical Manufacturing	LONG	14.27	-0.35	HOLD
PAAS	Gold and Silver	LONG	14.49	-1.02	HOLD
RES	Oil Well Services and Equipment	LONG	11.34	-1.65	HOLD
RIG	Oil Well Services and Equipment	SHORT	46.61	0.24	HOLD
RIGL	Biotechnology and Drugs	SHORT	9.75	-0.41	HOLD
SHS	Misc. Capital Goods	LONG	35.39	-2.93	HOLD
SJT	Misc. Financial Services	LONG	15.58	-0.70	HOLD
SLV	Misc. Financial Services	LONG	26.49	0.19	HOLD
SQNM	Medical Equipment and Supplies	SHORT	3.85	-1.79	HOLD
STRA	Schools	LONG	101.19	-0.38	HOLD
STX	Computer Storage Devices	LONG	26.04	0.89	HOLD
TNH	Chemical Manufacturing	LONG	215.35	5.31	HOLD
TPX	Furniture and Fixtures	LONG	25.32	-1.44	HOLD
VALE	Metal Mining	LONG	19.42	-1.12	HOLD
VWO	Misc. Financial Services	SHORT	39.25	-0.20	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.22
SHORTS				3.62
TOTAL				-3.84
S&P 500				-0.24
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.82	5.82	-39.29	-5.20	-0.77
S&P 500	5.44	5.28	-18.60	0.75	0.21

16-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