23-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	11.24	-0.97	HOLD
BAS	Oil Well Services and Equipment	LONG	10.15	-0.10	HOLD
BBT	Regional Banks	SHORT	28.81	1.52	HOLD
BIG	Retail (Specialty)	LONG	28.48	3.15	HOLD
BOKF	Regional Banks	SHORT	55.80	0.67	HOLD
BX	Investment Services	SHORT	14.95	1.01	HOLD
CEC	Restaurants	LONG	30.37	0.00	HOLD
CEF	Misc. Financial Services	SHORT	23.35	1.82	HOLD
CET	Misc. Financial Services	SHORT	19.13	0.97	HOLD
CORE		LONG	43.67	0.05	HOLD
CPLA	Schools	LONG	27.42	-0.40	HOLD
CSE	Regional Banks	SHORT	7.91	1.93	HOLD
DUK	Electric Utilities	SHORT	60.45	0.05	HOLD
ESI	Schools	LONG	17.00	1.43	HOLD
FHN	Regional Banks	SHORT	9.85	2.60	HOLD
FRED	Retail (Department and Discount)	LONG	13.55	2.34	HOLD
FTK	Oil Well Services and Equipment	LONG	10.91	1.11	HOLD
GBX	Railroads	LONG	17.91	0.96	HOLD
GLD	Misc. Financial Services	SHORT	169.61	1.22	HOLD
HBC	Regional Banks	SHORT	50.23	1.72	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.16	1.62	HOLD
IAU	Misc. Financial Services	SHORT	17.03	1.19	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.87	1.26	HOLD
JBT	Misc. Capital Goods	LONG	16.24	1.95	HOLD
KEG	Oil Well Services and Equipment	LONG	6.21	1.14	HOLD
KMR	Oil Well Services and Equipment	SHORT	75.31	0.91	HOLD
KOP	Chemical Manufacturing	LONG	33.68	0.87	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.07	0.78	HOLD
LAD	Retail (Specialty)	LONG	34.67	3.18	HOLD
LCC	Airline	LONG	12.50	0.24	HOLD
NILE	Retail (Specialty)	LONG	37.78	1.04	HOLD
NP	Paper and Paper Products	LONG	26.69	3.25	HOLD
NR	Oil Well Services and Equipment	LONG	7.57	1.34	HOLD
NVS	Major Drugs	SHORT	60.62	2.04	HOLD
SLV	Misc. Financial Services	SHORT	32.98	2.14	HOLD
STRA	Schools	LONG	49.44	4.50	HOLD
TCB	Regional Banks	SHORT	11.87	3.13	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.37	2.32	HOLD
TKC	Communications Services	SHORT	14.86	0.20	HOLD
USB	Regional Banks	SHORT	32.58	1.65	HOLD
USNA	Conglomerates	LONG	43.98	0.43	HOLD
USTR	Office Supplies	LONG	29.81	1.02	HOLD
V	Consumer Financial Services	SHORT	148.12	1.00	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WGL	Natural Gas Utilities	LONG	37.30	0.05	HOLD
XTXI	Oil Well Services and Equipment	LONG	12.64	1.28	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.25
SHORTS				1.34
TOTAL				-0.08
S&P 500				1.36
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.81	5.13	-39.75	-4.67	-0.60
S&P 500	10.64	5.26	-18.60	1.14	0.32

23-Nov-2012 Daily positions

Pre Opening Longs: BAS, BIG, CEC, CORE, CPLA, ESI, FRED, FTK, GBX, JBT,
KEG, KOP, LAD, LCC, NILE, NP, NR, STRA, USNA, USTR, VQ, WGL, XTXI
Pre Opening Shorts: ATVI, BBT, BOKF, BX, CEF, CET, CSE, DUK, FHN, GLD, HBC,
HCBK, IAU, ISBC, KMR, KRNY, NVS, SLV, TCB, TFSL, TKC, USB, V

21-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	11.35	0.98	HOLD
BAS	Oil Well Services and Equipment	LONG	10.16	1.40	HOLD
BBT	Regional Banks	SHORT	28.38	-0.25	HOLD
BIG	Retail (Specialty)	LONG	27.61	0.22	HOLD
BOKF	Regional Banks	SHORT	55.43	-1.04	HOLD
BX	Investment Services	SHORT	14.80	0.68	HOLD
CEC	Restaurants	LONG	30.37	0.43	HOLD
CEF	Misc. Financial Services	SHORT	22.93	0.84	HOLD
CET	Misc. Financial Services	SHORT	18.95	0.11	HOLD
CORE		LONG	43.65	1.18	HOLD
CPLA	Schools	LONG	27.53	-0.97	HOLD
CSE	Regional Banks	SHORT	7.76	-2.14	HOLD
DUK	Electric Utilities	SHORT	60.42	-0.61	HOLD
ESI	Schools	LONG	16.76	1.45	HOLD
FHN	Regional Banks	SHORT	9.60	-0.72	HOLD
FRED	Retail (Department and Discount)	LONG	13.24	-0.82	HOLD
FTK	Oil Well Services and Equipment	LONG	10.79	2.27	HOLD
GBX	Railroads	LONG	17.74	1.60	HOLD
GLD	Misc. Financial Services	SHORT	167.57	0.11	HOLD
HBC	Regional Banks	SHORT	49.37	0.69	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.03	-0.19	HOLD
IAU	Misc. Financial Services	SHORT	16.83	0.06	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.66	0.00	HOLD
JBT	Misc. Capital Goods	LONG	15.93	0.44	HOLD
KEG	Oil Well Services and Equipment	LONG	6.14	-1.92	HOLD
KMR	Oil Well Services and Equipment	SHORT	74.63	1.15	HOLD
KOP	Chemical Manufacturing	LONG	33.37	0.30	HOLD
KRNY	SandLs/Savings Banks	SHORT	9.00	0.33	HOLD
LAD	Retail (Specialty)	LONG	33.60	1.82	HOLD
LCC	Airline	LONG	12.46	-0.24	HOLD
NILE	Retail (Specialty)	LONG	37.39	1.25	HOLD
NP	Paper and Paper Products	LONG	25.85	2.78	HOLD
NR	Oil Well Services and Equipment	LONG	7.48	2.05	HOLD
NVS	Major Drugs	SHORT	59.41	0.54	HOLD
SLV	Misc. Financial Services	SHORT	32.29	0.58	HOLD
STRA	Schools	LONG	47.31	-0.57	HOLD
TCB	Regional Banks	SHORT	11.51	-0.60	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.18	-1.92	HOLD
TKC	Communications Services	SHORT	14.83	-0.54	HOLD
USB	Regional Banks	SHORT	32.05	-0.62	HOLD
USNA	Conglomerates	LONG	43.79	-0.09	HOLD
USTR	Office Supplies	LONG	29.51	-0.03	HOLD
V	Consumer Financial Services	SHORT	146.66	0.22	HOLD
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WGL	Natural Gas Utilities	LONG	37.28	0.40	HOLD
XTXI	Oil Well Services and Equipment	LONG	12.48	0.16	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.57
SHORTS				-0.10
TOTAL				0.67
S&P 500				0.19
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.75	5.14	-39.75	-4.67	-0.60
S&P 500	9.15	5.42	-18.60	0.96	0.28

21-Nov-2012 Daily positions

Pre Opening Longs: BAS, BIG, CEC, CORE, CPLA, ESI, FRED, FTK, GBX, JBT,
KEG, KOP, LAD, LCC, NILE, NP, NR, STRA, USNA, USTR, VQ, WGL, XTXI
Pre Opening Shorts: ATVI, BBT, BOKF, BX, CEF, CET, CSE, DUK, FHN, GLD, HBC,
HCBK, IAU, ISBC, KMR, KRNY, NVS, SLV, TCB, TFSL, TKC, USB, V

20-Nov-2012 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ATVI	Software and Programming	SHORT	11.24	0.00	HOLD
BAC	SandLs/Savings Banks	SHORT	9.63	1.48	COVER
BAS	Oil Well Services and Equipment	LONG	10.02	2.98	HOLD
BBT	Regional Banks	SHORT	28.45	0.25	HOLD
BIG	Retail (Specialty)	LONG	27.55	-1.25	BUY
BOKF	Regional Banks	SHORT	56.01	0.92	HOLD
BX	Investment Services	SHORT	14.70	2.44	HOLD
CEC	Restaurants	LONG	30.24	-0.92	HOLD
CEF	Misc. Financial Services	SHORT	22.74	-0.57	HOLD
CET	Misc. Financial Services	SHORT	18.86	-0.53	HOLD
CORE		LONG	43.14	1.24	HOLD
CPLA	Schools	LONG	27.80	-1.28	HOLD
CSE	Regional Banks	SHORT	7.93	0.63	HOLD
DUK	Electric Utilities	SHORT	60.79	-0.33	HOLD
ESI	Schools	LONG	16.52	-4.40	HOLD
EVV	Misc. Financial Services	SHORT	16.83	-0.47	COVER
FHN	Regional Banks	SHORT	9.67	0.83	SHORT
FRED	Retail (Department and Discount)	LONG	13.35	-1.77	HOLD
FTK	Oil Well Services and Equipment	LONG	10.55	-2.22	HOLD
GBX	Railroads	LONG	17.46	-2.46	HOLD
GLD	Misc. Financial Services	SHORT	167.39	-0.29	HOLD
HBC	Regional Banks	SHORT	49.03	-0.55	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.05	0.19	HOLD
IAU	Misc. Financial Services	SHORT	16.82	-0.18	HOLD
ISBC	SandLs/Savings Banks	SHORT	16.66	-0.42	HOLD
JBT	Misc. Capital Goods	LONG	15.86	0.25	HOLD
KEG	Oil Well Services and Equipment	LONG	6.26	-1.11	HOLD
KELYA	Business Services	LONG	13.04	-0.61	SELL
KMR	Oil Well Services and Equipment	SHORT	73.78	0.00	HOLD
KOP	Chemical Manufacturing	LONG	33.27	0.24	HOLD
KRNY	SandLs/Savings Banks	SHORT	8.97	-1.64	HOLD
LAD	Retail (Specialty)	LONG	33.00	-1.37	HOLD
LCC	Airline	LONG	12.49	3.48	HOLD
NILE	Retail (Specialty)	LONG	36.93	1.60	BUY
NP	Paper and Paper Products	LONG	25.15	-0.63	HOLD
NR	Oil Well Services and Equipment	LONG	7.33	2.23	HOLD
NVS	Major Drugs	SHORT	59.09	-0.67	HOLD
RUSHA	Retail (Specialty)	LONG	18.86	-0.21	SELL
SLV	Misc. Financial Services	SHORT	32.10	0.17	SHORT
STRA	Schools	LONG	48.58	-2.37	HOLD
TCB	Regional Banks	SHORT	11.58	2.12	HOLD
TFSL	SandLs/Savings Banks	SHORT	8.34	0.85	HOLD
TKC	Communications Services	SHORT	14.91	-0.20	HOLD
USB	Regional Banks	SHORT	32.25	0.53	HOLD
USNA	Conglomerates	LONG	43.83	-0.30	HOLD
USTR	Office Supplies	LONG	29.52	-0.03	HOLD
V	Consumer Financial Services	SHORT	146.34	0.47	SHORT
VQ	Oil and Gas Operations	LONG	12.49	0.00	HOLD
WFC	Regional Banks	SHORT	32.92	1.60	COVER
WGL	Natural Gas Utilities	LONG	37.13	-0.38	HOLD
XTXI	Oil Well Services and Equipment	LONG	12.46	2.81	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.30
SHORTS				0.22
TOTAL				-0.52
S&P 500				0.04
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-38.10	5.12	-39.75	-4.74	-0.61
S&P 500	8.95	5.45	-18.60	0.94	0.27

19-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, XTXI
Pre Opening Shorts: ATVI, BAC, BBT, BOKF, BX, CEF, CET, CSE, DUK, EVV, GLD,
HBC, HCBK, IAU, ISBC, KMR, KRNY, NVS, TCB, TFSL, TKC, USB, WFC