07-Mar-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	13.91	2.05	HOLD
ANN	Women's Apparel Retailers	LONG	36.24	1.77	HOLD
AVB	Residential REITs	SHORT	128.22	0.30	HOLD
BIG	Discount Stores - NEC	LONG	35.97	22.97	HOLD
BLT	Integrated Mining	LONG	12.62	1.28	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.50	0.79	HOLD
DEI	Commercial REITs - NEC	SHORT	26.96	-0.85	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.67	1.06	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	65.13	0.95	HOLD
EQR	Residential REITs	SHORT	58.25	-0.19	HOLD
GG	Gold - NEC	SHORT	27.04	-2.77	HOLD
GPI	New Car Dealers	LONG	68.54	1.83	HOLD
GPRE	Industrial Gas	LONG	27.65	-1.99	HOLD
HTS	Mortgage REITs	SHORT	19.25	-1.79	HOLD
KOP	Commodity Chemicals - NEC	LONG	40.77	0.02	HOLD
KRNY	Commercial Banks	SHORT	14.47	3.73	HOLD
LNG	Natural Gas Pipeline	SHORT	51.79	-2.45	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.91	-1.05	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	64.17	-0.67	HOLD
NJR	Natural Gas Distribution	LONG	44.76	0.25	HOLD
NVS	Pharmaceuticals - NEC	SHORT	83.14	-0.81	HOLD
O	Commercial REITs - NEC	SHORT	41.59	-2.71	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.27	-1.08	HOLD
PLD	Industrial REITs	SHORT	40.83	-1.17	HOLD
PZZA	Restaurants & Bars - NEC	LONG	53.51	0.72	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SCSS	Furniture	LONG	18.01	-2.45	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	164.06	0.77	HOLD
SLV	Investment Trusts	SHORT	20.08	-2.81	HOLD
STM	Semiconductors - NEC	SHORT	9.35	1.08	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	13.79	1.10	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	19.02	-2.11	HOLD
VMW	IT Services & Consulting - NEC	SHORT	101.51	-0.44	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	64.39	0.30	HOLD
WNC	Heavy Trucks	LONG	13.74	0.22	HOLD
WNR	Petroleum Refining	LONG	38.75	-1.12	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.38
SHORTS				-0.46
TOTAL				1.84
S&P 500				-0.08
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	124605786.30	43337287.46	-18.37	0.00	562.61
S&P 500	51.20	5.52	-18.61	2.66	0.79

07-Mar-2014 Daily positions

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

06-Mar-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	13.65	2.17	HOLD
ANN	Women's Apparel Retailers	LONG	35.56	0.17	HOLD
AVB	Residential REITs	SHORT	127.84	-0.78	HOLD
BIG	Discount Stores - NEC	LONG	29.23	-0.24	HOLD
BLT	Integrated Mining	LONG	12.50	1.54	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.19	-0.23	HOLD
DEI	Commercial REITs - NEC	SHORT	27.19	-0.87	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.60	0.15	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	64.52	0.08	HOLD
EQR	Residential REITs	SHORT	58.32	-0.73	HOLD
GG	Gold - NEC	SHORT	27.81	1.13	HOLD
GPI	New Car Dealers	LONG	67.31	-0.03	HOLD
GPRE	Industrial Gas	LONG	28.21	0.75	HOLD
HTS	Mortgage REITs	SHORT	19.60	-0.81	HOLD
KOP	Commodity Chemicals - NEC	LONG	40.75	1.65	HOLD
KRNY	Commercial Banks	SHORT	13.95	-0.07	HOLD
LNG	Natural Gas Pipeline	SHORT	52.95	1.22	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	34.27	-0.41	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	64.60	-1.67	HOLD
NJR	Natural Gas Distribution	LONG	44.66	-0.49	HOLD
NVS	Pharmaceuticals - NEC	SHORT	83.82	0.87	HOLD
O	Commercial REITs - NEC	SHORT	42.75	-2.06	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.36	-2.22	HOLD
PLD	Industrial REITs	SHORT	41.33	-1.03	HOLD
PZZA	Restaurants & Bars - NEC	LONG	53.11	0.61	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SCSS	Furniture	LONG	18.46	0.87	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	162.80	-3.20	HOLD
SLV	Investment Trusts	SHORT	20.65	1.42	HOLD
STM	Semiconductors - NEC	SHORT	9.26	1.76	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	13.64	-0.76	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	19.43	-0.05	HOLD
VMW	IT Services & Consulting - NEC	SHORT	101.96	-0.85	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	64.20	0.42	HOLD
WNC	Heavy Trucks	LONG	13.71	0.07	HOLD
WNR	Petroleum Refining	LONG	39.19	3.76	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.44
SHORTS				-0.28
TOTAL				0.73
S&P 500				0.23
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	122631849.51	43321006.36	-18.37	0.00	563.10
S&P 500	51.33	5.50	-18.61	2.68	0.79

06-Mar-2014 Daily positions

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

05-Mar-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	13.36	1.37	HOLD
ANN	Women's Apparel Retailers	LONG	35.50	-0.87	HOLD
AVB	Residential REITs	SHORT	128.84	-1.24	HOLD
BIG	Discount Stores - NEC	LONG	29.30	0.55	HOLD
BLT	Integrated Mining	LONG	12.31	-0.32	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.24	-0.95	HOLD
DEI	Commercial REITs - NEC	SHORT	27.34	0.07	SHORT
DENN	Restaurants & Bars - NEC	LONG	6.59	0.15	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	64.47	-0.26	COVER
EQR	Residential REITs	SHORT	58.75	-1.09	HOLD
GG	Gold - NEC	SHORT	27.46	1.37	HOLD
GPI	New Car Dealers	LONG	67.32	-0.53	HOLD
GPRE	Industrial Gas	LONG	28.00	-1.55	HOLD
HTS	Mortgage REITs	SHORT	19.76	0.56	SHORT
KOP	Commodity Chemicals - NEC	LONG	40.09	-0.91	HOLD
KRNY	Commercial Banks	SHORT	13.96	1.90	HOLD
LNG	Natural Gas Pipeline	SHORT	52.31	2.23	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	34.41	0.26	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	65.74	0.72	HOLD
NJR	Natural Gas Distribution	LONG	44.83	-1.73	HOLD
NVS	Pharmaceuticals - NEC	SHORT	83.10	0.64	HOLD
O	Commercial REITs - NEC	SHORT	43.65	-1.53	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.52	0.65	HOLD
PLD	Industrial REITs	SHORT	41.76	-0.50	HOLD
PZZA	Restaurants & Bars - NEC	LONG	52.81	-0.17	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SCSS	Furniture	LONG	18.30	0.66	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	168.19	-2.08	HOLD
SLV	Investment Trusts	SHORT	20.36	-0.05	HOLD
STM	Semiconductors - NEC	SHORT	9.10	0.39	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	13.78	16.78	HOLD
THRX	Biopharmaceuticals	SHORT	35.82	-1.13	COVER
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	19.44	-0.21	HOLD
VMW	IT Services & Consulting - NEC	SHORT	102.79	1.73	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	64.04	0.47	HOLD
WNC	Heavy Trucks	LONG	13.70	0.44	HOLD
WNR	Petroleum Refining	LONG	37.77	2.89	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.03
SHORTS				0.03
TOTAL				0.99
S&P 500				0.09
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	121757315.64	43296966.22	-18.37	0.00	565.17
S&P 500	50.98	5.51	-18.61	2.66	0.79

03-Mar-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ALJ	Petroleum Refining	LONG	13.53	1.05	HOLD
ANN	Women's Apparel Retailers	LONG	35.23	-1.18	HOLD
AVB	Residential REITs	SHORT	129.01	0.03	HOLD
BIG	Discount Stores - NEC	LONG	29.79	0.81	HOLD
BLT	Integrated Mining	LONG	12.14	-0.90	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.52	-2.87	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.33	-6.91	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	63.78	-0.99	HOLD
EQR	Residential REITs	SHORT	58.52	0.09	HOLD
GG	Gold - NEC	SHORT	27.32	1.45	HOLD
GPI	New Car Dealers	LONG	65.92	-1.26	HOLD
GPRE	Industrial Gas	LONG	27.49	4.01	HOLD
KOP	Commodity Chemicals - NEC	LONG	39.53	-0.03	HOLD
KRNY	Commercial Banks	SHORT	12.57	-0.08	HOLD
LNG	Natural Gas Pipeline	SHORT	49.26	-0.34	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.06	2.12	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	64.19	0.53	HOLD
MYE	Plastic Container & Packaging	LONG	21.13	-1.72	SELL
NJR	Natural Gas Distribution	LONG	44.41	-1.33	HOLD
NVS	Pharmaceuticals - NEC	SHORT	81.29	-2.27	HOLD
O	Commercial REITs - NEC	SHORT	44.05	-0.83	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.64	0.82	HOLD
PLD	Industrial REITs	SHORT	40.93	-0.63	HOLD
PSA	Self-Storage REITs	SHORT	168.69	-0.18	COVER
PZZA	Restaurants & Bars - NEC	LONG	51.04	0.28	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SCSS	Furniture	LONG	18.01	-0.28	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	165.68	0.32	HOLD
SLV	Investment Trusts	SHORT	20.63	1.38	HOLD
STM	Semiconductors - NEC	SHORT	8.83	-2.21	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	11.62	1.04	BUY
THRX	Biopharmaceuticals	SHORT	36.88	-0.32	SHORT
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	18.80	-0.84	HOLD
VMW	IT Services & Consulting - NEC	SHORT	95.65	-0.42	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	64.50	1.91	HOLD
WNC	Heavy Trucks	LONG	13.44	-0.52	HOLD
WNR	Petroleum Refining	LONG	36.16	-0.80	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.39
SHORTS				-0.29
TOTAL				-0.11
S&P 500				-0.72
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	120781176.75	43245686.89	-18.37	0.00	570.74
S&P 500	48.73	5.71	-18.61	2.48	0.76