17-Jan-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACCO	Business Support Supplies - NEC	LONG	6.66	-0.60	HOLD
ALJ	Petroleum Refining	LONG	15.89	0.32	HOLD
AVA	Multiline Utilities - NEC	LONG	28.28	-0.11	HOLD
AVD	Agricultural Chemicals - NEC	LONG	24.16	0.67	HOLD
BAC	Banks - NEC	SHORT	17.01	-0.41	HOLD
BHP	Integrated Mining	SHORT	67.05	0.24	HOLD
BLT	Integrated Mining	LONG	13.28	-0.90	HOLD
CEC	Food Retail & Distribution - NEC	LONG	54.78	0.05	HOLD
CEF	Investment Trusts	SHORT	13.82	1.47	HOLD
CUK	Hotels, Motels & Cruise Lines - NEC	SHORT	42.31	-0.33	HOLD
DENN	Restaurants & Bars - NEC	LONG	7.12	0.28	HOLD
ESI	Educational Services	LONG	45.27	8.38	HOLD
GG	Integrated Mining	SHORT	23.17	3.85	HOLD
HSBC	Commercial Banks	SHORT	55.65	0.43	HOLD
ISBC	Retail & Mortgage Banks	SHORT	25.50	0.24	HOLD
KOP	Commodity Chemicals - NEC	LONG	43.80	-2.36	HOLD
KRNY	Commercial Banks	SHORT	11.69	0.00	HOLD
LNG	Natural Gas Pipeline	SHORT	45.93	-1.23	HOLD
MT	Steel - NEC	SHORT	17.38	-1.25	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	68.42	-0.70	HOLD
MYE	Plastic Container & Packaging	LONG	19.98	-0.05	HOLD
NJR	Natural Gas Distribution	LONG	45.82	0.79	HOLD
NP	Paper Mills & Products	LONG	43.89	-1.61	HOLD
NVS	Pharmaceuticals - NEC	SHORT	81.18	-0.73	HOLD
OMX	Office Supplies Wholesale	LONG	15.26	0.00	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.97	0.56	HOLD
PSA	Self-Storage REITs	SHORT	154.97	-0.67	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.48	0.19	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	23.12	0.04	HOLD
SCSS	Furniture	LONG	16.34	-2.10	HOLD
SLV	Investment Trusts	SHORT	19.52	0.88	HOLD
STC	Property Insurance	LONG	33.40	-0.12	HOLD
STM	Semiconductors - NEC	SHORT	7.75	-3.25	HOLD
TFSL	Banks - NEC	SHORT	11.78	0.00	HOLD
TKC	Wireless Telecom	SHORT	12.68	0.24	HOLD
TMP	Banks - NEC	SHORT	49.16	-0.28	HOLD
TS	Construction & Engineering - NEC	SHORT	44.24	0.59	HOLD
V	Business Support Services - NEC	SHORT	232.18	4.69	HOLD
VALE	Steel - NEC	SHORT	13.79	0.00	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	59.98	-0.65	HOLD
WNC	Heavy Trucks	LONG	13.66	-2.36	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.06
SHORTS				0.14
TOTAL				-0.08
S&P 500				-0.43
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	96710683003439.09	17353281619747.09	-17.61	0.00	80215.10
S&P 500	47.67	5.52	-18.61	2.62	0.78

16-Jan-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACCO	Business Support Supplies - NEC	LONG	6.70	-2.62	HOLD
ALJ	Petroleum Refining	LONG	15.84	0.32	HOLD
AVA	Multiline Utilities - NEC	LONG	28.31	0.18	HOLD
AVD	Agricultural Chemicals - NEC	LONG	24.00	1.69	HOLD
BAC	Banks - NEC	SHORT	17.08	-0.41	HOLD
BHP	Integrated Mining	SHORT	66.89	2.99	HOLD
BLT	Integrated Mining	LONG	13.40	-0.67	HOLD
CEC	Food Retail & Distribution - NEC	LONG	54.76	13.07	HOLD
CEF	Investment Trusts	SHORT	13.62	-0.15	HOLD
CUK	Hotels, Motels & Cruise Lines - NEC	SHORT	42.46	-0.14	HOLD
DENN	Restaurants & Bars - NEC	LONG	7.10	-0.70	HOLD
ESI	Educational Services	LONG	41.77	2.43	HOLD
GG	Integrated Mining	SHORT	22.31	0.59	HOLD
HSBC	Commercial Banks	SHORT	55.39	-0.91	HOLD
ISBC	Retail & Mortgage Banks	SHORT	25.44	-0.12	HOLD
KOP	Commodity Chemicals - NEC	LONG	44.86	0.13	HOLD
KRNY	Commercial Banks	SHORT	11.65	-1.27	HOLD
LNG	Natural Gas Pipeline	SHORT	46.50	1.20	HOLD
MT	Steel - NEC	SHORT	17.60	1.79	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	68.90	1.07	HOLD
MYE	Plastic Container & Packaging	LONG	19.99	0.00	HOLD
NJR	Natural Gas Distribution	LONG	45.46	0.22	HOLD
NP	Paper Mills & Products	LONG	44.61	1.76	HOLD
NVS	Pharmaceuticals - NEC	SHORT	81.78	1.16	HOLD
OMX	Office Supplies Wholesale	LONG	15.26	0.00	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.91	-0.72	HOLD
PSA	Self-Storage REITs	SHORT	156.01	0.63	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.39	-0.13	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	23.11	0.92	HOLD
SCSS	Furniture	LONG	16.69	0.30	HOLD
SLV	Investment Trusts	SHORT	19.33	-0.36	HOLD
STC	Property Insurance	LONG	33.44	0.06	HOLD
STM	Semiconductors - NEC	SHORT	8.01	-0.87	HOLD
TFSL	Banks - NEC	SHORT	11.78	-1.01	HOLD
TKC	Wireless Telecom	SHORT	12.65	-2.17	HOLD
TMP	Banks - NEC	SHORT	49.30	-0.68	HOLD
TS	Construction & Engineering - NEC	SHORT	43.98	-0.41	HOLD
V	Business Support Services - NEC	SHORT	221.77	-0.89	HOLD
VALE	Steel - NEC	SHORT	13.79	-0.07	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	60.37	-0.30	HOLD
WNC	Heavy Trucks	LONG	13.99	0.72	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.89
SHORTS				-0.01
TOTAL				0.91
S&P 500				-0.14
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1304.38	307.84	-39.58	0.49	3.79
S&P 500	48.29	5.46	-18.61	2.68	0.79

15-Jan-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACCO	Business Support Supplies - NEC	LONG	6.88	1.47	HOLD
ALJ	Petroleum Refining	LONG	15.80	-2.41	HOLD
AVA	Multiline Utilities - NEC	LONG	28.29	0.60	HOLD
AVD	Agricultural Chemicals - NEC	LONG	23.63	-0.21	HOLD
BAC	Banks - NEC	SHORT	17.17	2.39	HOLD
BHP	Integrated Mining	SHORT	64.95	0.00	HOLD
BLT	Integrated Mining	LONG	13.49	0.00	HOLD
CEC	Food Retail & Distribution - NEC	LONG	48.43	0.48	HOLD
CEF	Investment Trusts	SHORT	13.64	-0.73	HOLD
CUK	Hotels, Motels & Cruise Lines - NEC	SHORT	42.55	-0.07	HOLD
DENN	Restaurants & Bars - NEC	LONG	7.15	1.56	HOLD
ESI	Educational Services	LONG	40.85	1.95	HOLD
GG	Integrated Mining	SHORT	22.17	-0.29	HOLD
HSBC	Commercial Banks	SHORT	55.89	0.52	HOLD
ISBC	Retail & Mortgage Banks	SHORT	25.47	0.35	HOLD
KOP	Commodity Chemicals - NEC	LONG	44.71	1.18	HOLD
KRNY	Commercial Banks	SHORT	11.80	-0.51	HOLD
LNG	Natural Gas Pipeline	SHORT	45.95	-0.69	HOLD
MT	Steel - NEC	SHORT	17.29	0.76	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	67.97	1.12	HOLD
MYE	Plastic Container & Packaging	LONG	19.98	-0.10	HOLD
NJR	Natural Gas Distribution	LONG	45.38	-0.83	HOLD
NP	Paper Mills & Products	LONG	43.71	2.90	HOLD
NVS	Pharmaceuticals - NEC	SHORT	80.84	0.12	HOLD
OMX	Office Supplies Wholesale	LONG	15.26	0.00	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.98	0.56	HOLD
PSA	Self-Storage REITs	SHORT	155.04	-0.44	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.45	0.87	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	22.89	-0.82	HOLD
SCSS	Furniture	LONG	16.64	-0.83	HOLD
SLV	Investment Trusts	SHORT	19.40	-0.10	HOLD
STC	Property Insurance	LONG	33.46	0.51	HOLD
STM	Semiconductors - NEC	SHORT	8.08	1.13	HOLD
TFSL	Banks - NEC	SHORT	11.90	0.76	HOLD
TKC	Wireless Telecom	SHORT	12.93	-0.15	HOLD
TMP	Banks - NEC	SHORT	49.64	-0.10	HOLD
TS	Construction & Engineering - NEC	SHORT	44.16	-0.25	HOLD
V	Business Support Services - NEC	SHORT	223.76	0.50	HOLD
VALE	Steel - NEC	SHORT	13.80	1.62	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	60.55	-1.11	HOLD
WNC	Heavy Trucks	LONG	13.89	5.23	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.64
SHORTS				0.21
TOTAL				0.43
S&P 500				0.57
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1292.41	307.23	-39.58	0.49	3.78
S&P 500	48.55	5.43	-18.61	2.71	0.79

14-Jan-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Management	SHORT	22.66	1.16	COVER
ACCO	Business Support Supplies - NEC	LONG	6.78	8.13	HOLD
ALJ	Petroleum Refining	LONG	16.19	0.25	HOLD
AVA	Multiline Utilities - NEC	LONG	28.09	0.15	HOLD
AVD	Agricultural Chemicals - NEC	LONG	23.62	1.20	HOLD
BAC	Banks - NEC	SHORT	16.72	1.73	HOLD
BHP	Integrated Mining	SHORT	64.90	-0.61	HOLD
BLT	Integrated Mining	LONG	13.48	-1.61	HOLD
CEC	Food Retail & Distribution - NEC	LONG	48.20	-0.68	HOLD
CEF		SHORT	13.74	-1.43	HOLD
CUK	Hotels, Motels & Cruise Lines - NEC	SHORT	42.58	0.83	HOLD
DENN	Restaurants & Bars - NEC	LONG	7.04	2.70	HOLD
ESI	Educational Services	LONG	40.08	6.17	HOLD
GG	Integrated Mining	SHORT	22.26	-3.43	HOLD
HSBC	Commercial Banks	SHORT	55.56	0.55	HOLD
HEES	Consumer Goods Rental	LONG	32.60	2.29	SELL
ISBC	Retail & Mortgage Banks	SHORT	25.38	-0.04	HOLD
KOP	Commodity Chemicals - NEC	LONG	44.19	-0.07	HOLD
KRNY	Commercial Banks	SHORT	11.89	1.45	HOLD
LNG	Natural Gas Pipeline	SHORT	46.27	2.69	HOLD
MT	Steel - NEC	SHORT	17.16	0.97	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	67.25	0.60	HOLD
MYE	Plastic Container & Packaging	LONG	20.01	0.00	HOLD
NJR	Natural Gas Distribution	LONG	45.73	0.59	HOLD
NP	Paper Mills & Products	LONG	42.48	4.53	HOLD
NVS	Pharmaceuticals - NEC	SHORT	80.69	0.37	HOLD
OMX	Office Supplies Wholesale	LONG	15.26	0.00	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.91	1.54	HOLD
PSA	Self-Storage REITs	SHORT	155.42	0.95	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.04	1.01	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	23.08	1.90	HOLD
SCSS	Furniture	LONG	16.78	-0.06	HOLD
SLV	Investment Trusts	SHORT	19.44	-1.22	HOLD
STC	Property Insurance	LONG	33.29	0.12	HOLD
STM	Semiconductors - NEC	SHORT	7.99	2.70	SHORT
TFSL	Banks - NEC	SHORT	11.81	1.42	HOLD
TKC	Wireless Telecom	SHORT	12.97	-0.84	HOLD
TMP	Banks - NEC	SHORT	49.60	1.19	HOLD
TS	Construction & Engineering - NEC	SHORT	44.14	2.94	HOLD
V	Business Support Services - NEC	SHORT	222.02	1.43	HOLD
VALE	Steel - NEC	SHORT	13.56	-0.29	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	61.23	2.02	HOLD
WNC	Heavy Trucks	LONG	13.20	2.72	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.54
SHORTS				0.54
TOTAL				1.00
S&P 500				1.10
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1290.49	307.85	-39.57	0.49	3.78
S&P 500	47.72	5.48	-18.61	2.65	0.78

13-Jan-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
AB	Investment Management	SHORT	22.40	0.67	HOLD
ACCO	Business Support Supplies - NEC	LONG	6.27	-2.64	HOLD
ALJ	Petroleum Refining	LONG	16.15	-2.89	HOLD
ALNY	Biotechnology & Medical Research - NEC	SHORT	93.28	40.89	COVER
AVA	Multiline Utilities - NEC	LONG	28.05	-1.13	HOLD
AVD	Agricultural Chemicals - NEC	LONG	23.34	-1.44	HOLD
BAC	Banks - NEC	SHORT	16.43	-2.03	HOLD
BHP	Integrated Mining	SHORT	65.30	-0.76	HOLD
BLT	Integrated Mining	LONG	13.70	1.86	HOLD
CEC	Food Retail & Distribution - NEC	LONG	48.53	-0.35	HOLD
CEF	Investment Trusts	SHORT	13.94	3.03	HOLD
CUK	Hotels, Motels & Cruise Lines - NEC	SHORT	42.23	-0.64	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.86	-1.08	HOLD
ESI	Educational Services	LONG	37.75	-4.21	HOLD
GG	Integrated Mining	SHORT	23.10	-0.39	HOLD
HSBC	Commercial Banks	SHORT	55.31	-1.15	HOLD
HEES	Consumer Goods Rental	LONG	31.65	-1.89	HOLD
ISBC	Retail & Mortgage Banks	SHORT	25.39	-0.86	HOLD
KOP	Commodity Chemicals - NEC	LONG	44.22	-1.23	HOLD
KRNY	Commercial Banks	SHORT	11.72	-1.43	HOLD
LNG	Natural Gas Pipeline	SHORT	45.05	-2.85	HOLD
MT	Steel - NEC	SHORT	16.99	0.65	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	66.85	-0.86	HOLD
MYE	Plastic Container & Packaging	LONG	20.01	-1.67	HOLD
NJR	Natural Gas Distribution	LONG	45.46	-1.11	HOLD
NP	Paper Mills & Products	LONG	40.64	-1.31	HOLD
NVS	Pharmaceuticals - NEC	SHORT	80.39	-1.17	HOLD
OMX	Office Supplies Wholesale	LONG	15.26	0.00	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.77	-1.18	HOLD
PSA	Self-Storage REITs	SHORT	153.96	-0.19	HOLD
PZZA	Restaurants & Bars - NEC	LONG	46.57	-0.19	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	22.65	-1.44	HOLD
SCSS	Furniture	LONG	16.75	-4.34	HOLD
SLV	Investment Trusts	SHORT	19.68	1.57	HOLD
STC	Property Insurance	LONG	33.25	0.42	HOLD
TFSL	Banks - NEC	SHORT	11.70	-0.64	HOLD
TKC	Wireless Telecom	SHORT	13.11	1.24	HOLD
TMP	Banks - NEC	SHORT	48.70	-2.05	HOLD
TS	Construction & Engineering - NEC	SHORT	42.77	-1.70	HOLD
V	Business Support Services - NEC	SHORT	219.31	-0.82	HOLD
VALE	Steel - NEC	SHORT	13.62	-0.73	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	59.99	0.21	HOLD
WNC	Heavy Trucks	LONG	12.85	-0.54	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.32
SHORTS				1.25
TOTAL				-2.57
S&P 500				-1.36
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1163.58	288.56	-39.57	0.49	3.58
S&P 500	46.07	5.60	-18.61	2.52	0.76