21-Feb-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	14.27	-1.04	HOLD
ANN	Women's Apparel Retailers	LONG	34.13	1.64	HOLD
AVB	Residential REITs	SHORT	128.66	-0.18	HOLD
BIG	Discount Stores - NEC	LONG	27.36	2.13	HOLD
BLT	Integrated Mining	LONG	12.39	-1.12	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.42	0.79	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.49	-0.15	HOLD
DVN	Integrated Oil & Gas	SHORT	63.67	-1.38	HOLD
EQR	Residential REITs	SHORT	58.71	-0.03	HOLD
GG	Gold - NEC	SHORT	27.56	-0.29	HOLD
GPRE	Industrial Gas	LONG	25.73	-1.49	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.76	1.31	HOLD
KRNY	Commercial Banks	SHORT	11.86	-1.08	HOLD
LNG	Natural Gas Pipeline	SHORT	48.30	-0.62	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.04	-0.37	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	70.48	-0.30	HOLD
MYE	Plastic Container & Packaging	LONG	19.72	-1.79	HOLD
NJR	Natural Gas Distribution	LONG	45.34	0.04	HOLD
NP	Paper Mills & Products	LONG	48.37	-1.08	HOLD
NVS	Pharmaceuticals - NEC	SHORT	82.65	0.45	HOLD
O	Commercial REITs - NEC	SHORT	43.41	1.17	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.68	-0.46	HOLD
PLD	Industrial REITs	SHORT	40.61	0.54	HOLD
PSA	Self-Storage REITs	SHORT	166.44	-0.16	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.66	-0.19	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	22.89	-0.61	HOLD
SCSS	Furniture	LONG	17.81	1.48	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	168.06	0.96	HOLD
SLV	Investment Trusts	SHORT	20.98	-0.10	HOLD
STM	Semiconductors - NEC	SHORT	8.31	-0.24	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	17.13	-1.10	HOLD
VMW	IT Services & Consulting - NEC	SHORT	96.41	0.62	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	61.51	0.02	HOLD
WNC	Heavy Trucks	LONG	13.21	-0.97	HOLD
WNR	Petroleum Refining	LONG	38.98	1.33	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.14
SHORTS				0.01
TOTAL				-0.14
S&P 500				-0.11
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	118536170.86	43089021.81	-18.33	0.00	590.22
S&P 500	47.88	5.72	-18.61	2.45	0.75

21-Feb-2014 Daily positions

Pre Opening Longs: ALJ, ANN, BIG, BLT, DENN, GPRE, KOP, MTRX, MYE, NJR, NP,
PDLI, PZZA, SAH, SCSS, TWI, WNC, WNR
Pre Opening Shorts: AVB, CCL, DVN, EQR, GG, KRNY, LNG, MWE, NVS, O, PLD,
PSA, ROMA, SHPG, SLV, STM, VMW, WES

20-Feb-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	14.42	0.84	HOLD
ANN	Women's Apparel Retailers	LONG	33.58	0.15	HOLD
AVB	Residential REITs	SHORT	128.89	0.42	HOLD
BIG	Discount Stores - NEC	LONG	26.79	-0.33	HOLD
BLT	Integrated Mining	LONG	12.53	1.13	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.11	-0.18	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.50	1.09	HOLD
DVN	Integrated Oil & Gas	SHORT	64.56	0.48	HOLD
EQR	Residential REITs	SHORT	58.73	0.41	HOLD
GG	Gold - NEC	SHORT	27.64	3.83	HOLD
GPRE	Industrial Gas	LONG	26.12	5.75	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.27	-1.25	HOLD
KRNY	Commercial Banks	SHORT	11.99	3.10	HOLD
LNG	Natural Gas Pipeline	SHORT	48.60	2.02	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.16	0.72	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	70.69	0.55	HOLD
MYE	Plastic Container & Packaging	LONG	20.08	3.51	HOLD
NJR	Natural Gas Distribution	LONG	45.32	1.43	HOLD
NP	Paper Mills & Products	LONG	48.90	2.54	HOLD
NVS	Pharmaceuticals - NEC	SHORT	82.28	0.64	HOLD
O	Commercial REITs - NEC	SHORT	42.91	0.75	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.72	2.23	HOLD
PLD	Industrial REITs	SHORT	40.39	-0.81	HOLD
PSA	Self-Storage REITs	SHORT	166.71	0.16	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.75	-0.04	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	23.03	-0.52	HOLD
SCSS	Furniture	LONG	17.55	0.52	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	166.47	0.42	HOLD
SLV	Investment Trusts	SHORT	21.01	1.84	HOLD
STM	Semiconductors - NEC	SHORT	8.33	-0.24	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	17.32	0.35	HOLD
VMW	IT Services & Consulting - NEC	SHORT	95.82	1.58	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	61.50	-1.65	HOLD
WNC	Heavy Trucks	LONG	13.34	0.15	HOLD
WNR	Petroleum Refining	LONG	38.47	0.03	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.02
SHORTS				0.74
TOTAL				0.28
S&P 500				0.56
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	118517479.45	43054833.15	-18.33	0.00	593.95
S&P 500	48.00	5.69	-18.61	2.47	0.76

20-Feb-2014 Daily positions

Pre Opening Longs: ALJ, ANN, BIG, BLT, DENN, GPRE, KOP, MTRX, MYE, NJR, NP,
PDLI, PZZA, SAH, SCSS, TWI, WNC, WNR
Pre Opening Shorts: AVB, CCL, DVN, EQR, GG, KRNY, LNG, MWE, NVS, O, PLD,
PSA, ROMA, SHPG, SLV, STM, VMW, WES

19-Feb-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	14.48	-0.82	HOLD
ANN	Women's Apparel Retailers	LONG	33.93	0.53	HOLD
AVA	Multiline Utilities - NEC	LONG	29.54	-1.05	SELL
AVB	Residential REITs	SHORT	128.81	-0.53	HOLD
BIG	Discount Stores - NEC	LONG	26.92	0.60	HOLD
BLT	Integrated Mining	LONG	12.46	-1.97	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.35	-0.40	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.44	-0.92	HOLD
DVN	Integrated Oil & Gas	SHORT	64.06	1.83	HOLD
EQR	Residential REITs	SHORT	58.77	-0.39	HOLD
GG	Gold - NEC	SHORT	26.94	-2.71	HOLD
GPRE	Industrial Gas	LONG	24.90	-3.45	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.84	-0.24	HOLD
KRNY	Commercial Banks	SHORT	11.61	-1.19	HOLD
LNG	Natural Gas Pipeline	SHORT	48.00	-0.44	HOLD
MT	Steel - NEC	SHORT	16.51	0.21	COVER
MTRX	Oil Related Services and Equipment - NEC	LONG	32.26	-1.10	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	70.68	-2.85	HOLD
MYE	Plastic Container & Packaging	LONG	19.41	-1.12	HOLD
NJR	Natural Gas Distribution	LONG	44.95	-0.04	HOLD
NP	Paper Mills & Products	LONG	48.00	6.90	HOLD
NVS	Pharmaceuticals - NEC	SHORT	81.96	-0.92	HOLD
O	Commercial REITs - NEC	SHORT	42.73	0.71	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.59	-0.46	HOLD
PLD	Industrial REITs	SHORT	40.93	0.32	HOLD
PSA	Self-Storage REITs	SHORT	167.33	0.25	HOLD
PZZA	Restaurants & Bars - NEC	LONG	47.87	-1.10	HOLD
BBRY	Phones & Handheld Devices - NEC	SHORT	9.09	-3.91	COVER
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	23.07	4.25	HOLD
SCSS	Furniture	LONG	17.59	-0.34	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	165.89	0.47	HOLD
SLV	Investment Trusts	SHORT	20.83	-1.43	HOLD
STM	Semiconductors - NEC	SHORT	8.36	-2.62	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	17.42	-0.57	HOLD
VMW	IT Services & Consulting - NEC	SHORT	94.76	-0.89	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	62.63	-0.49	HOLD
WNC	Heavy Trucks	LONG	13.37	-1.04	HOLD
WNR	Petroleum Refining	LONG	38.56	-0.09	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.11
SHORTS				-0.75
TOTAL				0.64
S&P 500				-0.23
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	118381962.09	43021039.11	-18.33	0.00	597.53
S&P 500	47.82	5.70	-18.61	2.47	0.76

19-Feb-2014 Daily positions

Pre Opening Longs: ALJ, ANN, AVA, BIG, BLT, DENN, GPRE, KOP, MTRX, MYE,
NJR, NP, PDLI, PZZA, SAH, SCSS, TWI, WNC, WNR
Pre Opening Shorts: AVB, BBRY, CCL, DVN, EQR, GG, KRNY, LNG, MT, MWE, NVS,
O, PLD, PSA, ROMA, SHPG, SLV, STM, VMW, WES

18-Feb-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	14.60	-0.68	HOLD
ANN	Women's Apparel Retailers	LONG	33.75	1.17	HOLD
AVA	Multiline Utilities - NEC	LONG	30.17	1.11	HOLD
AVB	Residential REITs	SHORT	129.50	0.40	HOLD
BIG	Discount Stores - NEC	LONG	26.76	1.75	HOLD
BLT	Integrated Mining	LONG	12.71	1.27	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.76	-2.45	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.50	-1.96	HOLD
DVN	Integrated Oil & Gas	SHORT	62.91	1.39	HOLD
EQR	Residential REITs	SHORT	58.96	0.65	HOLD
GG	Gold - NEC	SHORT	27.68	0.47	HOLD
GPRE	Industrial Gas	LONG	25.79	5.48	HOLD
KOP	Commodity Chemicals - NEC	LONG	38.10	3.06	HOLD
KRNY	Commercial Banks	SHORT	11.74	0.17	HOLD
LNG	Natural Gas Pipeline	SHORT	48.21	2.79	HOLD
MT	Steel - NEC	SHORT	16.48	-1.61	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.62	8.26	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	72.75	0.30	HOLD
MYE	Plastic Container & Packaging	LONG	19.63	-0.46	HOLD
NJR	Natural Gas Distribution	LONG	44.97	-0.22	HOLD
NP	Paper Mills & Products	LONG	44.90	0.22	HOLD
NVS	Pharmaceuticals - NEC	SHORT	82.73	-0.25	HOLD
O	Commercial REITs - NEC	SHORT	42.42	1.68	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.63	2.37	HOLD
PLD	Industrial REITs	SHORT	40.80	0.32	HOLD
PSA	Self-Storage REITs	SHORT	166.91	0.70	HOLD
PZZA	Restaurants & Bars - NEC	LONG	48.40	0.19	HOLD
BBRY	Phones & Handheld Devices - NEC	SHORT	9.46	5.35	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAH	Auto Vehicles, Parts & Service Retailers - NEC	LONG	22.14	0.41	HOLD
SCSS	Furniture	LONG	17.65	0.23	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	165.12	1.33	HOLD
SLV	Investment Trusts	SHORT	21.11	2.25	HOLD
STM	Semiconductors - NEC	SHORT	8.58	1.30	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	17.55	0.17	HOLD
VMW	IT Services & Consulting - NEC	SHORT	95.61	0.43	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	62.94	0.61	HOLD
WNC	Heavy Trucks	LONG	13.51	3.84	HOLD
WNR	Petroleum Refining	LONG	38.59	0.65	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.41
SHORTS				0.79
TOTAL				0.62
S&P 500				0.22
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	117956018.50	43055593.52	-18.18	0.00	605.78
S&P 500	48.32	5.63	-18.61	2.52	0.76

18-Feb-2014 Daily positions

Pre Opening Longs: ALJ, ANN, AVA, BIG, BLT, DENN, GPRE, KOP, MTRX, MYE,
NJR, NP, PDLI, PZZA, SAH, SCSS, TWI, WNC, WNR
Pre Opening Shorts: AVB, BBRY, CCL, DVN, EQR, GG, KRNY, LNG, MT, MWE, NVS,
O, PLD, PSA, ROMA, SHPG, SLV, STM, VMW, WES