11-Jan-2013 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Services	SHORT	19.98	2.15	HOLD
ALJ	Oil and Gas Operations	LONG	17.70	1.78	HOLD
ANDE	Crops	LONG	44.51	0.38	HOLD
ATVI	Software and Programming	SHORT	11.52	5.40	HOLD
BBT	Regional Banks	SHORT	30.31	-0.75	COVER
BIG	Retail (Specialty)	LONG	28.17	0.97	HOLD
BLX	Regional Banks	SHORT	22.40	-1.02	HOLD
CEF	Misc. Financial Services	SHORT	21.38	-1.29	HOLD
CENTA	Personal and Household Prods.	LONG	9.46	1.28	HOLD
CET	Misc. Financial Services	SHORT	20.18	-0.25	HOLD
ESI	Schools	LONG	14.49	0.28	HOLD
FHN	Regional Banks	SHORT	9.97	-1.29	HOLD
FRED	Retail (Department and Discount)	LONG	12.44	-1.11	HOLD
FTK	Oil Well Services and Equipment	LONG	13.06	2.03	HOLD
GBX	Railroads	LONG	17.44	-1.52	HOLD
HBC	Regional Banks	SHORT	54.60	0.26	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.58	-0.35	HOLD
IPAR	Personal and Household Prods.	LONG	20.40	-0.15	HOLD
ISBC	SandLs/Savings Banks	SHORT	18.16	-1.36	HOLD
KEG	Oil Well Services and Equipment	LONG	7.60	-1.94	HOLD
KMR	Oil Well Services and Equipment	SHORT	80.60	-0.14	HOLD
KRNY	SandLs/Savings Banks	SHORT	10.00	0.00	HOLD
LAD	Retail (Specialty)	LONG	38.64	-0.87	HOLD
LCC	Airline	LONG	14.78	-2.38	HOLD
LINE	Oil and Gas Operations	SHORT	37.11	-0.62	HOLD
NAFC	Retail (Grocery)	LONG	19.77	-0.25	HOLD
NILE	Retail (Specialty)	LONG	36.12	-1.26	HOLD
NR	Oil Well Services and Equipment	LONG	8.00	-0.62	HOLD
NVS	Major Drugs	SHORT	65.40	0.32	HOLD
OMX		LONG	9.85	-0.51	HOLD
SLV	Misc. Financial Services	SHORT	29.50	-0.94	HOLD
SONC	Restaurants	LONG	11.05	2.13	HOLD
STRA	Schools	LONG	53.04	-0.58	HOLD
TCB	Regional Banks	SHORT	12.61	-1.02	HOLD
TFSL	SandLs/Savings Banks	SHORT	10.03	-0.59	HOLD
TKC	Communications Services	SHORT	17.27	1.74	HOLD
USB	Regional Banks	SHORT	33.50	-0.42	HOLD
USNA	Conglomerates	LONG	35.67	1.02	SELL
USTR	Office Supplies	LONG	32.27	0.06	HOLD
V	Consumer Financial Services	SHORT	161.16	0.40	HOLD
VALE	Metal Mining	SHORT	20.32	-1.88	HOLD
WGL	Natural Gas Utilities	LONG	38.70	0.03	HOLD
XTXI	Oil Well Services and Equipment	LONG	15.31	-0.65	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.09
SHORTS				-0.08
TOTAL				-0.01
S&P 500				-0.01
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.15	5.16	-39.98	-4.27	-0.55
S&P 500	15.11	4.89	-18.60	1.61	0.42

11-Jan-2013 Daily positions

Pre Opening Longs: ALJ, ANDE, BIG, CENTA, ESI, FRED, FTK, GBX, IPAR, KEG,
LAD, LCC, NAFC, NILE, NR, OMX, SONC, STRA, USNA, USTR, WGL, XTXI
Pre Opening Shorts: AB, ATVI, BBT, BLX, CEF, CET, FHN, HBC, HCBK, ISBC,
KMR, KRNY, LINE, NVS, SLV, TCB, TFSL, TKC, USB, V, VALE

10-Jan-2013 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Services	SHORT	19.57	1.08	HOLD
ALJ	Oil and Gas Operations	LONG	17.39	0.64	HOLD
ANDE	Crops	LONG	44.34	1.44	HOLD
ATVI	Software and Programming	SHORT	10.93	-0.09	HOLD
BBT	Regional Banks	SHORT	30.54	1.66	HOLD
BIG	Retail (Specialty)	LONG	27.90	0.22	HOLD
BLX	Regional Banks	SHORT	22.63	0.89	HOLD
CEF	Misc. Financial Services	SHORT	21.66	1.74	HOLD
CENTA	Personal and Household Prods.	LONG	9.34	1.52	HOLD
CET	Misc. Financial Services	SHORT	20.23	0.35	HOLD
ESI	Schools	LONG	14.45	0.00	HOLD
FHN	Regional Banks	SHORT	10.10	0.50	HOLD
FRED	Retail (Department and Discount)	LONG	12.58	0.48	HOLD
FTK	Oil Well Services and Equipment	LONG	12.81	1.75	HOLD
GBX	Railroads	LONG	17.72	-0.17	HOLD
HBC	Regional Banks	SHORT	54.46	1.42	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.61	0.94	HOLD
IPAR	Personal and Household Prods.	LONG	20.43	-0.39	HOLD
ISBC	SandLs/Savings Banks	SHORT	18.41	0.38	HOLD
KEG	Oil Well Services and Equipment	LONG	7.75	2.11	HOLD
KMR	Oil Well Services and Equipment	SHORT	80.71	0.93	HOLD
KRNY	SandLs/Savings Banks	SHORT	10.00	-0.10	HOLD
LAD	Retail (Specialty)	LONG	38.98	-1.22	HOLD
LCC	Airline	LONG	15.14	0.07	HOLD
LINE	Oil and Gas Operations	SHORT	37.34	0.32	HOLD
NAFC	Retail (Grocery)	LONG	19.82	-0.25	HOLD
NILE	Retail (Specialty)	LONG	36.58	-1.53	HOLD
NR	Oil Well Services and Equipment	LONG	8.05	1.64	HOLD
NVS	Major Drugs	SHORT	65.19	0.87	HOLD
OMX		LONG	9.90	-0.80	HOLD
SLV	Misc. Financial Services	SHORT	29.78	1.47	HOLD
SONC	Restaurants	LONG	10.82	-0.55	HOLD
STRA	Schools	LONG	53.35	1.23	HOLD
TCB	Regional Banks	SHORT	12.74	-0.08	HOLD
TFSL	SandLs/Savings Banks	SHORT	10.09	1.10	HOLD
TKC	Communications Services	SHORT	16.98	0.89	HOLD
USB	Regional Banks	SHORT	33.64	1.11	HOLD
USNA	Conglomerates	LONG	35.31	-4.00	HOLD
USTR	Office Supplies	LONG	32.25	-0.06	HOLD
V	Consumer Financial Services	SHORT	160.51	-0.79	HOLD
VALE	Metal Mining	SHORT	20.71	1.47	HOLD
WGL	Natural Gas Utilities	LONG	38.69	-0.28	HOLD
XTXI	Oil Well Services and Equipment	LONG	15.41	0.20	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.09
SHORTS				0.76
TOTAL				-0.67
S&P 500				0.79
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-37.17	5.16	-39.98	-4.29	-0.55
S&P 500	15.12	4.88	-18.60	1.61	0.42

09-Jan-2013 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Services	SHORT	19.36	1.26	HOLD
ALJ	Oil and Gas Operations	LONG	17.28	-1.43	HOLD
ANDE	Crops	LONG	43.71	0.60	HOLD
ATVI	Software and Programming	SHORT	10.94	-0.45	HOLD
BBT	Regional Banks	SHORT	30.04	0.70	HOLD
BIG	Retail (Specialty)	LONG	27.84	-2.45	HOLD
BLX	Regional Banks	SHORT	22.43	1.82	HOLD
CEF	Misc. Financial Services	SHORT	21.29	0.28	HOLD
CENTA	Personal and Household Prods.	LONG	9.20	1.55	HOLD
CET	Misc. Financial Services	SHORT	20.18	0.45	HOLD
ESI	Schools	LONG	14.45	-4.87	HOLD
FHN	Regional Banks	SHORT	10.05	-3.27	HOLD
FRED	Retail (Department and Discount)	LONG	12.52	-1.49	HOLD
FTK	Oil Well Services and Equipment	LONG	12.59	0.40	HOLD
GBX	Railroads	LONG	17.75	2.78	HOLD
HBC	Regional Banks	SHORT	53.70	0.98	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.53	0.35	HOLD
IPAR	Personal and Household Prods.	LONG	20.51	1.43	HOLD
ISBC	SandLs/Savings Banks	SHORT	18.34	-0.70	HOLD
KEG	Oil Well Services and Equipment	LONG	7.59	0.00	HOLD
KMR	Oil Well Services and Equipment	SHORT	79.97	0.53	HOLD
KRNY	SandLs/Savings Banks	SHORT	10.01	0.10	HOLD
LAD	Retail (Specialty)	LONG	39.46	1.47	HOLD
LCC	Airline	LONG	15.13	-0.20	HOLD
LINE	Oil and Gas Operations	SHORT	37.22	0.87	HOLD
NAFC	Retail (Grocery)	LONG	19.87	-2.02	HOLD
NILE	Retail (Specialty)	LONG	37.15	-0.03	HOLD
NR	Oil Well Services and Equipment	LONG	7.92	0.25	HOLD
NVS	Major Drugs	SHORT	64.63	0.03	HOLD
OMX		LONG	9.98	-1.96	HOLD
SLV	Misc. Financial Services	SHORT	29.36	-0.07	HOLD
SONC	Restaurants	LONG	10.88	0.83	HOLD
STRA	Schools	LONG	52.70	-7.82	HOLD
TCB	Regional Banks	SHORT	12.75	0.16	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.98	0.00	HOLD
TKC	Communications Services	SHORT	16.83	1.20	HOLD
USB	Regional Banks	SHORT	33.27	0.91	HOLD
USNA	Conglomerates	LONG	36.78	-1.92	HOLD
USTR	Office Supplies	LONG	32.27	-0.22	HOLD
V	Consumer Financial Services	SHORT	161.79	1.52	HOLD
VALE	Metal Mining	SHORT	20.41	0.20	HOLD
WGL	Natural Gas Utilities	LONG	38.80	0.49	HOLD
XTXI	Oil Well Services and Equipment	LONG	15.38	2.19	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.56
SHORTS				0.33
TOTAL				-0.89
S&P 500				0.25
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-36.77	5.19	-39.98	-4.21	-0.55
S&P 500	14.21	4.94	-18.60	1.50	0.40

08-Jan-2013 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Services	SHORT	19.20	0.00	HOLD
ALJ	Oil and Gas Operations	LONG	17.19	0.00	HOLD
ANDE	Crops	LONG	43.19	0.00	HOLD
ATVI	Software and Programming	SHORT	11.18	0.00	HOLD
BBT	Regional Banks	SHORT	30.04	0.00	HOLD
BIG	Retail (Specialty)	LONG	29.13	0.00	HOLD
BLX	Regional Banks	SHORT	21.94	0.00	HOLD
CEF	Misc. Financial Services	SHORT	21.00	0.00	HOLD
CENTA	Personal and Household Prods.	LONG	9.91	0.00	HOLD
CET	Misc. Financial Services	SHORT	20.06	0.00	HOLD
ESI	Schools	LONG	15.57	0.00	HOLD
FHN	Regional Banks	SHORT	10.43	0.00	HOLD
FRED	Retail (Department and Discount)	LONG	12.83	0.00	HOLD
FTK	Oil Well Services and Equipment	LONG	12.92	0.00	HOLD
GBX	Railroads	LONG	16.32	0.00	HOLD
GLD	Misc. Financial Services	SHORT	159.43	0.00	HOLD
HBC	Regional Banks	SHORT	53.76	0.00	HOLD
HCBK	SandLs/Savings Banks	SHORT	8.50	0.00	HOLD
IPAR	Personal and Household Prods.	LONG	19.97	0.00	HOLD
ISBC	SandLs/Savings Banks	SHORT	18.49	0.00	HOLD
KEG	Oil Well Services and Equipment	LONG	7.60	0.00	HOLD
KMR	Oil Well Services and Equipment	SHORT	79.79	0.00	HOLD
KRNY	SandLs/Savings Banks	SHORT	10.03	0.00	HOLD
LAD	Retail (Specialty)	LONG	38.99	0.00	HOLD
LCC	Airline	LONG	14.84	0.00	HOLD
LINE	Oil and Gas Operations	SHORT	37.02	0.00	HOLD
NAFC	Retail (Grocery)	LONG	20.64	0.00	HOLD
NILE	Retail (Specialty)	LONG	39.07	0.00	HOLD
NR	Oil Well Services and Equipment	LONG	8.00	0.00	HOLD
NVS	Major Drugs	SHORT	64.44	0.00	HOLD
OMX		LONG	9.70	0.00	HOLD
SLV	Misc. Financial Services	SHORT	29.18	0.00	HOLD
SONC	Restaurants	LONG	10.70	0.00	HOLD
STRA	Schools	LONG	57.69	0.00	HOLD
TCB	Regional Banks	SHORT	12.78	0.00	HOLD
TFSL	SandLs/Savings Banks	SHORT	9.94	0.00	HOLD
TKC	Communications Services	SHORT	16.49	0.00	HOLD
USB	Regional Banks	SHORT	32.92	0.00	HOLD
USNA	Conglomerates	LONG	37.20	0.00	HOLD
USTR	Office Supplies	LONG	32.47	0.00	HOLD
V	Consumer Financial Services	SHORT	157.89	0.00	HOLD
VALE	Metal Mining	SHORT	20.68	0.00	HOLD
WGL	Natural Gas Utilities	LONG	39.45	0.00	HOLD
XTXI	Oil Well Services and Equipment	LONG	15.20	0.00	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.00
SHORTS				0.00
TOTAL				0.00
S&P 500				0.00
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	-35.92	5.28	-39.98	-4.05	-0.53
S&P 500	14.25	4.94	-18.60	1.51	0.40