16-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	11.05	4.65	HOLD
BAC	SandLs/Savings Banks	SHORT	9.12	0.33	HOLD
BAS	Oil Well Services and Equipment	LONG	8.97	-2.92	HOLD
BBT	Regional Banks	SHORT	28.05	1.81	HOLD
BOKF	Regional Banks	SHORT	55.25	0.31	HOLD
BX	Investment Services	SHORT	13.63	0.81	HOLD
CEC	Restaurants	LONG	30.02	-0.46	HOLD
CEF	Misc. Financial Services	SHORT	22.34	0.09	HOLD
CET	Misc. Financial Services	SHORT	18.96	1.01	HOLD
CORE		LONG	42.64	2.48	HOLD
CPLA	Schools	LONG	27.89	-1.73	HOLD
CSE	Regional Banks	SHORT	7.69	1.59	HOLD
DUK	Electric Utilities	SHORT	60.90	1.72	HOLD
ESI	Schools	LONG	17.35	0.28	HOLD
EVV	Misc. Financial Services	SHORT	16.56	4.74	HOLD
FRED	Retail (Department and Discount)	LONG	13.08	0.38	HOLD
FTK	Oil Well Services and Equipment	LONG	10.31	3.00	HOLD
GBX	Railroads	LONG	16.94	-0.65	HOLD
GLD	Misc. Financial Services	SHORT	165.88	-0.13	HOLD
HBC	Regional Banks	SHORT	47.76	-0.10	HOLD
HCBK	SandLs/Savings Banks	SHORT	7.95	1.15	HOLD
IAU	Misc. Financial Services	SHORT	16.65	-0.12	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.29	2.58	HOLD
JBT	Misc. Capital Goods	LONG	15.32	0.66	HOLD
KEG	Oil Well Services and Equipment	LONG	6.01	-1.31	HOLD
KELYA	Business Services	LONG	12.99	-0.15	HOLD
KMR	Oil Well Services and Equipment	SHORT	72.65	2.92	HOLD
KOP	Chemical Manufacturing	LONG	31.77	0.03	HOLD
KRNY	SandLs/Savings Banks	SHORT	8.80	0.46	HOLD
LAD	Retail (Specialty)	LONG	32.59	2.20	HOLD
LCC	Airline	LONG	11.76	-2.49	HOLD
NP	Paper and Paper Products	LONG	24.38	3.00	HOLD
NR	Oil Well Services and Equipment	LONG	6.88	0.15	HOLD
NVS	Major Drugs	SHORT	59.00	0.05	HOLD
RUSHA	Retail (Specialty)	LONG	18.49	-2.74	HOLD
STRA	Schools	LONG	48.65	1.75	HOLD
TCB	Regional Banks	SHORT	11.17	0.81	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.25	-0.48	HOLD
TKC	Communications Services	SHORT	14.93	0.00	HOLD
USB	Regional Banks	SHORT	31.55	1.09	HOLD
USNA	Conglomerates	LONG	44.52	1.67	HOLD
USTR	Office Supplies	LONG	28.77	-0.31	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	31.94	1.17	HOLD
WGL	Natural Gas Utilities	LONG	37.03	0.49	HOLD
XTXI	Oil Well Services and Equipment	LONG	11.75	1.38	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.20
SHORTS				1.15
TOTAL				-0.95
S&P 500				0.49
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.37	5.11	-39.75	-4.80	-0.62
S&P 500	6.74	5.75	-18.60	0.67	0.21

15-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	10.56	-1.17	HOLD
BAC	SandLs/Savings Banks	SHORT	9.09	1.11	HOLD
BAS	Oil Well Services and Equipment	LONG	9.24	-0.43	HOLD
BBT	Regional Banks	SHORT	27.55	1.70	HOLD
BOKF	Regional Banks	SHORT	55.08	0.51	HOLD
BX	Investment Services	SHORT	13.52	-3.29	HOLD
CEC	Restaurants	LONG	30.16	0.50	HOLD
CEF	Misc. Financial Services	SHORT	22.32	-1.28	HOLD
CET	Misc. Financial Services	SHORT	18.77	-1.62	HOLD
CORE		LONG	41.61	-0.88	HOLD
CPLA	Schools	LONG	28.38	1.54	HOLD
CSE	Regional Banks	SHORT	7.57	-0.66	HOLD
DUK	Electric Utilities	SHORT	59.87	-1.43	HOLD
ESI	Schools	LONG	17.30	2.49	HOLD
EVV	Misc. Financial Services	SHORT	15.81	-4.30	HOLD
FRED	Retail (Department and Discount)	LONG	13.03	0.31	HOLD
FTK	Oil Well Services and Equipment	LONG	10.01	-1.18	HOLD
GBX	Railroads	LONG	17.05	-4.00	HOLD
GLD	Misc. Financial Services	SHORT	166.09	-0.63	HOLD
HBC	Regional Banks	SHORT	47.81	0.63	HOLD
HCBK	SandLs/Savings Banks	SHORT	7.86	0.13	HOLD
IAU	Misc. Financial Services	SHORT	16.67	-0.71	HOLD
ISBC	SandLs/Savings Banks	SHORT	15.88	-1.43	HOLD
JBT	Misc. Capital Goods	LONG	15.22	-0.59	HOLD
KEG	Oil Well Services and Equipment	LONG	6.09	-0.33	HOLD
KELYA	Business Services	LONG	13.01	0.31	HOLD
KMR	Oil Well Services and Equipment	SHORT	70.59	-1.86	HOLD
KOP	Chemical Manufacturing	LONG	31.76	-2.40	HOLD
KRNY	SandLs/Savings Banks	SHORT	8.76	-2.12	HOLD
LAD	Retail (Specialty)	LONG	31.89	0.09	HOLD
LCC	Airline	LONG	12.06	0.42	HOLD
NLY	Misc. Financial Services	SHORT	14.22	1.07	COVER
NP	Paper and Paper Products	LONG	23.67	-1.33	HOLD
NR	Oil Well Services and Equipment	LONG	6.87	1.93	HOLD
NVS	Major Drugs	SHORT	58.97	-1.11	HOLD
RUSHA	Retail (Specialty)	LONG	19.01	0.53	HOLD
STRA	Schools	LONG	47.81	0.66	HOLD
TCB	Regional Banks	SHORT	11.08	1.09	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.29	1.10	HOLD
TKC	Communications Services	SHORT	14.93	0.95	HOLD
USB	Regional Banks	SHORT	31.21	-0.38	HOLD
USNA	Conglomerates	LONG	43.79	0.16	HOLD
USTR	Office Supplies	LONG	28.86	-0.38	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	31.57	0.45	HOLD
WGL	Natural Gas Utilities	LONG	36.85	-1.31	HOLD
XTXI	Oil Well Services and Equipment	LONG	11.59	-3.09	BUY
TODAY SUMMARY				GAINS(%)
LONGS				-0.18
SHORTS				-0.55
TOTAL				0.38
S&P 500				-0.17
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.78	5.14	-39.75	-4.71	-0.61
S&P 500	6.21	5.83	-18.60	0.62	0.19

14-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	10.69	-0.33	HOLD
BAC	SandLs/Savings Banks	SHORT	8.99	-3.64	HOLD
BAS	Oil Well Services and Equipment	LONG	9.28	-0.96	HOLD
BBT	Regional Banks	SHORT	27.09	-1.31	HOLD
BOKF	Regional Banks	SHORT	54.80	-0.62	HOLD
BX	Investment Services	SHORT	13.98	-2.65	HOLD
CEC	Restaurants	LONG	30.01	-1.25	HOLD
CEF	Misc. Financial Services	SHORT	22.61	-0.09	HOLD
CET	Misc. Financial Services	SHORT	19.08	-1.50	HOLD
CORE		LONG	41.98	-2.49	HOLD
CPLA	Schools	LONG	27.95	-1.17	HOLD
CSE	Regional Banks	SHORT	7.62	-1.42	HOLD
DUK	Electric Utilities	SHORT	60.74	-0.82	HOLD
ESI	Schools	LONG	16.88	1.32	HOLD
EVV	Misc. Financial Services	SHORT	16.52	-3.34	HOLD
FRED	Retail (Department and Discount)	LONG	12.99	-1.14	HOLD
FTK	Oil Well Services and Equipment	LONG	10.13	0.10	HOLD
GBX	Railroads	LONG	17.76	6.16	HOLD
GLD	Misc. Financial Services	SHORT	167.16	0.04	HOLD
HBC	Regional Banks	SHORT	47.51	-1.00	HOLD
HCBK	SandLs/Savings Banks	SHORT	7.85	-1.13	HOLD
IAU	Misc. Financial Services	SHORT	16.79	0.00	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.11	-1.77	HOLD
JBT	Misc. Capital Goods	LONG	15.31	-3.22	HOLD
KEG	Oil Well Services and Equipment	LONG	6.11	4.44	HOLD
KELYA	Business Services	LONG	13.02	-2.03	HOLD
KMR	Oil Well Services and Equipment	SHORT	71.93	-0.55	HOLD
KOP	Chemical Manufacturing	LONG	32.78	-2.24	HOLD
KRNY	SandLs/Savings Banks	SHORT	8.95	-0.78	HOLD
LAD	Retail (Specialty)	LONG	31.86	-4.44	HOLD
LCC	Airline	LONG	12.01	-4.61	HOLD
NLY	Misc. Financial Services	SHORT	14.07	-2.70	HOLD
NP	Paper and Paper Products	LONG	23.99	-3.42	HOLD
NR	Oil Well Services and Equipment	LONG	6.74	0.30	HOLD
NVS	Major Drugs	SHORT	59.63	-0.52	HOLD
RUSHA	Retail (Specialty)	LONG	18.91	-2.02	HOLD
STRA	Schools	LONG	47.50	1.76	HOLD
TCB	Regional Banks	SHORT	10.96	-1.17	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.20	-2.50	HOLD
TKC	Communications Services	SHORT	14.79	-1.00	HOLD
USB	Regional Banks	SHORT	31.33	-1.20	HOLD
USNA	Conglomerates	LONG	43.72	0.99	HOLD
USTR	Office Supplies	LONG	28.97	0.14	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	31.43	-1.84	HOLD
WGL	Natural Gas Utilities	LONG	37.34	-1.35	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.69
SHORTS				-1.33
TOTAL				0.64
S&P 500				-1.35
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.98	5.13	-39.75	-4.75	-0.61
S&P 500	6.39	5.81	-18.60	0.64	0.20

14-Nov-2012 Daily positions

Pre Opening Longs: BAS, CEC, CORE, CPLA, ESI, FRED, FTK, GBX, JBT, KEG,
KELYA, KOP, LAD, LCC, NP, NR, RUSHA, STRA, USNA, USTR, VQ, WGL
Pre Opening Shorts: ATVI, BAC, BBT, BOKF, BX, CEF, CET, CSE, DUK, EVV, GLD,
HBC, HCBK, IAU, ISBC, KMR, KRNY, NLY, NVS, TCB, TFSL, TKC, USB, WFC

13-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	10.72	-0.46	HOLD
BAC	SandLs/Savings Banks	SHORT	9.33	-0.64	HOLD
BAS	Oil Well Services and Equipment	LONG	9.37	-2.19	HOLD
BBT	Regional Banks	SHORT	27.45	-0.90	HOLD
BOKF	Regional Banks	SHORT	56.52	-1.99	HOLD
BX	Investment Services	SHORT	14.36	-0.28	HOLD
CEC	Restaurants	LONG	30.39	-3.77	HOLD
CEF	Misc. Financial Services	SHORT	22.63	-0.53	HOLD
CET	Misc. Financial Services	SHORT	19.37	0.05	HOLD
CORE		LONG	43.05	-1.08	HOLD
CPLA	Schools	LONG	28.28	-1.02	HOLD
CSE	Regional Banks	SHORT	7.73	-1.40	HOLD
DUK	Electric Utilities	SHORT	62.01	0.91	HOLD
ESI	Schools	LONG	16.66	-5.77	HOLD
EVV	Misc. Financial Services	SHORT	17.09	0.29	HOLD
FRED	Retail (Department and Discount)	LONG	13.14	1.55	HOLD
FTK	Oil Well Services and Equipment	LONG	10.12	-1.65	HOLD
GBX	Railroads	LONG	16.73	19.93	BUY
GLD	Misc. Financial Services	SHORT	167.10	-0.21	HOLD
HBC	Regional Banks	SHORT	47.99	-0.21	HOLD
HCBK	SandLs/Savings Banks	SHORT	7.94	-2.10	HOLD
IAU	Misc. Financial Services	SHORT	16.79	-0.18	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.40	-1.44	HOLD
JBT	Misc. Capital Goods	LONG	15.82	-0.57	HOLD
KEG	Oil Well Services and Equipment	LONG	5.85	-2.01	HOLD
KELYA	Business Services	LONG	13.29	-0.08	HOLD
KMR	Oil Well Services and Equipment	SHORT	72.33	0.06	HOLD
KOP	Chemical Manufacturing	LONG	33.53	-0.27	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.02	-0.55	HOLD
LAD	Retail (Specialty)	LONG	33.34	0.42	HOLD
LCC	Airline	LONG	12.59	2.44	HOLD
NLY	Misc. Financial Services	SHORT	14.46	-2.76	HOLD
NP	Paper and Paper Products	LONG	24.96	-3.29	HOLD
NR	Oil Well Services and Equipment	LONG	6.72	-0.59	HOLD
NVS	Major Drugs	SHORT	59.94	-0.10	HOLD
OMX		LONG	8.41	4.73	SELL
RUSHA	Retail (Specialty)	LONG	19.30	-1.63	HOLD
SONC	Restaurants	LONG	9.65	-0.52	SELL
STRA	Schools	LONG	46.68	0.41	HOLD
TCB	Regional Banks	SHORT	11.09	-2.03	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.41	-0.36	HOLD
TKC	Communications Services	SHORT	14.94	0.88	HOLD
USB	Regional Banks	SHORT	31.71	-1.09	HOLD
USNA	Conglomerates	LONG	43.29	0.05	HOLD
USTR	Office Supplies	LONG	28.93	1.47	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	32.02	-1.08	HOLD
WGL	Natural Gas Utilities	LONG	37.85	0.26	HOLD
XTXI	Oil Well Services and Equipment	LONG	12.14	2.36	SELL
TODAY SUMMARY				GAINS(%)
LONGS				0.37
SHORTS				-0.67
TOTAL				1.04
S&P 500				-0.34
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.46	5.12	-39.75	-4.84	-0.62
S&P 500	7.85	5.60	-18.60	0.81	0.24

13-Nov-2012 Daily positions

Pre Opening Longs: BAS, CEC, CORE, CPLA, ESI, FRED, FTK, GBX, JBT, KEG,
KELYA, KOP, LAD, LCC, NP, NR, OMX, RUSHA, SONC, STRA, USNA, USTR, VQ, WGL,
XTXI
Pre Opening Shorts: ATVI, BAC, BBT, BOKF, BX, CEF, CET, CSE, DUK, EVV, GLD,
HBC, HCBK, IAU, ISBC, KMR, KRNY, NLY, NVS, TCB, TFSL, TKC, USB, WFC

12-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	10.77	1.03	HOLD
BAC	SandLs/Savings Banks	SHORT	9.39	-0.42	HOLD
BAS	Oil Well Services and Equipment	LONG	9.58	4.13	HOLD
BBT	Regional Banks	SHORT	27.70	0.54	HOLD
BOKF	Regional Banks	SHORT	57.67	0.28	HOLD
BX	Investment Services	SHORT	14.50	-0.28	HOLD
CEC	Restaurants	LONG	31.58	0.03	HOLD
CEF	Misc. Financial Services	SHORT	22.75	0.09	HOLD
CET	Misc. Financial Services	SHORT	19.90	0.15	HOLD
CORE		LONG	43.52	0.25	HOLD
CPLA	Schools	LONG	28.57	-0.31	HOLD
CSE	Regional Banks	SHORT	7.84	0.90	HOLD
DUK	Electric Utilities	SHORT	61.45	-0.82	HOLD
ESI	Schools	LONG	17.68	1.09	HOLD
EVV	Misc. Financial Services	SHORT	17.04	-0.70	HOLD
FRED	Retail (Department and Discount)	LONG	12.94	-0.77	HOLD
FTK	Oil Well Services and Equipment	LONG	10.29	0.10	HOLD
GBX	Railroads	LONG	13.95	2.80	HOLD
GLD	Misc. Financial Services	SHORT	167.45	-0.22	HOLD
HBC	Regional Banks	SHORT	48.09	0.38	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.11	1.00	HOLD
IAU	Misc. Financial Services	SHORT	16.82	-0.12	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.64	-0.06	HOLD
JBT	Misc. Capital Goods	LONG	15.92	1.59	HOLD
KEG	Oil Well Services and Equipment	LONG	5.97	1.70	HOLD
KELYA	Business Services	LONG	13.30	-1.26	HOLD
KMR	Oil Well Services and Equipment	SHORT	72.29	-1.97	HOLD
KOP	Chemical Manufacturing	LONG	33.62	0.24	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.07	0.44	HOLD
LAD	Retail (Specialty)	LONG	33.20	1.25	HOLD
LCC	Airline	LONG	12.29	-2.54	HOLD
NLY	Misc. Financial Services	SHORT	14.87	-0.73	HOLD
NP	Paper and Paper Products	LONG	25.81	0.12	HOLD
NR	Oil Well Services and Equipment	LONG	6.76	2.74	HOLD
NVS	Major Drugs	SHORT	60.00	-0.50	HOLD
OMX		LONG	8.05	1.00	HOLD
RUSHA	Retail (Specialty)	LONG	19.62	0.72	HOLD
SONC	Restaurants	LONG	9.70	0.00	HOLD
STRA	Schools	LONG	46.49	-0.04	HOLD
TCB	Regional Banks	SHORT	11.37	1.34	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.44	0.84	HOLD
TKC	Communications Services	SHORT	14.81	-0.60	HOLD
USB	Regional Banks	SHORT	32.06	-0.12	HOLD
USNA	Conglomerates	LONG	43.27	1.31	HOLD
USTR	Office Supplies	LONG	28.51	-1.42	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	32.37	0.06	HOLD
WGL	Natural Gas Utilities	LONG	37.75	-1.15	HOLD
XTXI	Oil Well Services and Equipment	LONG	11.86	-5.57	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.24
SHORTS				0.02
TOTAL				0.22
S&P 500				0.08
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-39.18	5.10	-39.77	-4.97	-0.64
S&P 500	8.22	5.56	-18.60	0.86	0.26

12-Nov-2012 Daily positions

Pre Opening Longs: BAS, CEC, CORE, CPLA, ESI, FRED, FTK, GBX, JBT, KEG,
KELYA, KOP, LAD, LCC, NP, NR, OMX, RUSHA, SONC, STRA, USNA, USTR, VQ, WGL,
XTXI
Pre Opening Shorts: ATVI, BAC, BBT, BOKF, BX, CEF, CET, CSE, DUK, EVV, GLD,
HBC, HCBK, IAU, ISBC, KMR, KRNY, NLY, NVS, TCB, TFSL, TKC, USB, WFC