11-Apr-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	44.00	-1.03	HOLD
ALJ	Petroleum Refining	LONG	14.06	-4.48	HOLD
ANN	Women's Apparel Retailers	LONG	39.42	-2.04	HOLD
AUY	Integrated Mining	SHORT	8.53	-1.61	HOLD
AVB	Residential REITs	SHORT	132.25	-0.43	HOLD
BIG		LONG	38.39	-0.18	HOLD
BLT	Integrated Mining	LONG	11.45	-1.97	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	37.03	-1.04	HOLD
OUTR	Consumer Goods Rental	LONG	66.35	-2.76	HOLD
DEI	Commercial REITs - NEC	SHORT	26.31	-1.31	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.26	-1.88	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	67.55	-1.54	HOLD
EQR	Residential REITs	SHORT	57.73	-2.43	HOLD
GG	Gold - NEC	SHORT	24.09	-1.79	HOLD
GPI	New Car Dealers	LONG	60.93	-1.71	HOLD
GPRE	Industrial Gas	LONG	27.40	-1.62	HOLD
HTS	Mortgage REITs	SHORT	19.59	0.88	HOLD
KOP	Commodity Chemicals - NEC	LONG	39.39	-1.35	HOLD
KRNY	Commercial Banks	SHORT	14.51	-0.41	HOLD
LAD	New Car Dealers	LONG	64.75	-2.48	HOLD
LNG	Natural Gas Pipeline	SHORT	55.95	-1.62	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	31.56	-1.34	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	63.87	1.87	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.00	-0.18	HOLD
NVS	Pharmaceuticals - NEC	SHORT	82.67	-1.38	HOLD
O	Commercial REITs - NEC	SHORT	41.43	0.27	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.00	-2.68	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	17.78	-2.31	HOLD
PLD	Industrial REITs	SHORT	40.06	-0.96	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	142.83	-2.18	HOLD
SLV	Investment Trusts	SHORT	19.19	-0.42	HOLD
SNN	Medical Devices & Implants	SHORT	73.75	-1.39	HOLD
SNX	Computer Peripherals	LONG	67.31	-3.37	HOLD
STM	Semiconductors - NEC	SHORT	8.77	-2.12	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	13.91	-1.77	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	17.18	-4.77	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	67.76	2.81	HOLD
WNR	Petroleum Refining	LONG	36.66	-3.42	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.18
SHORTS				-0.74
TOTAL				-1.43
S&P 500				-0.90
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	110653528039905460000000.00	43052658511667526000000.00	-20.17	0.00	27547211.95
S&P 500	45.97	6.63	-18.61	1.95	0.69

11-Apr-2014 Daily positions

Pre Opening Longs: ACAT, ALJ, ANN, BIG, BLT, DENN, GPI, GPRE, KOP, LAD,
MTRX, NR, OUTR, PDLI, PIR, SNX, SWHC, TWI, WNR
Pre Opening Shorts: AUY, AVB, CCL, DEI, DVN, EQR, GG, HTS, KRNY, LNG, MWE,
NVS, O, PLD, ROMA, SHPG, SLV, SNN, STM, WES

10-Apr-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	44.46	-2.01	HOLD
ALJ	Petroleum Refining	LONG	14.72	-1.80	HOLD
ANN	Women's Apparel Retailers	LONG	40.24	-3.01	HOLD
AUY	Integrated Mining	SHORT	8.67	-1.81	HOLD
AVB	Residential REITs	SHORT	132.82	-0.38	HOLD
BIG		LONG	38.46	0.94	HOLD
BLT	Integrated Mining	LONG	11.68	-1.85	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	37.42	-1.73	HOLD
OUTR	Consumer Goods Rental	LONG	68.23	-3.75	BUY
DEI	Commercial REITs - NEC	SHORT	26.66	-0.52	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.38	-2.00	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	68.61	0.34	HOLD
EQR	Residential REITs	SHORT	59.17	-1.43	HOLD
GG	Gold - NEC	SHORT	24.53	-4.10	HOLD
GPI	New Car Dealers	LONG	61.99	-1.81	HOLD
GPRE	Industrial Gas	LONG	27.85	-3.57	HOLD
HTS	Mortgage REITs	SHORT	19.42	0.73	HOLD
KOP	Commodity Chemicals - NEC	LONG	39.93	-2.08	HOLD
KRNY	Commercial Banks	SHORT	14.57	-1.22	HOLD
LAD	New Car Dealers	LONG	66.40	-2.51	HOLD
LNG	Natural Gas Pipeline	SHORT	56.87	-4.05	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	31.99	-4.73	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	62.70	-0.65	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.02	-2.39	HOLD
NVS	Pharmaceuticals - NEC	SHORT	83.83	-0.24	HOLD
O	Commercial REITs - NEC	SHORT	41.32	-1.17	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.22	-0.24	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	18.20	-0.11	HOLD
PLD	Industrial REITs	SHORT	40.45	-2.08	HOLD
PZZA	Restaurants & Bars - NEC	LONG	48.34	-2.19	SELL
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	146.02	-0.92	HOLD
SLV	Investment Trusts	SHORT	19.27	0.84	HOLD
SNN	Medical Devices & Implants	SHORT	74.79	-1.90	HOLD
SNX	Computer Peripherals	LONG	69.66	-3.14	HOLD
STM	Semiconductors - NEC	SHORT	8.96	-3.14	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	14.16	-3.09	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	18.04	-4.25	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	65.91	-0.11	HOLD
WNR	Petroleum Refining	LONG	37.96	-3.04	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.26
SHORTS				-1.18
TOTAL				-1.08
S&P 500				-2.10
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	112258476282017420000000.00	43025977117163869000000.00	-20.17	0.00	28232090.09
S&P 500	47.29	6.39	-18.61	2.07	0.71

10-Apr-2014 Daily positions

Pre Opening Longs: ACAT, ALJ, ANN, BIG, BLT, DENN, GPI, GPRE, KOP, LAD,
MTRX, NR, PDLI, PIR, PZZA, SNX, SWHC, TWI, WNR
Pre Opening Shorts: AUY, AVB, CCL, DEI, DVN, EQR, GG, HTS, KRNY, LNG, MWE,
NVS, O, PLD, ROMA, SHPG, SLV, SNN, STM, WES

09-Apr-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	45.37	0.35	HOLD
ALJ	Petroleum Refining	LONG	14.99	5.12	HOLD
ANN	Women's Apparel Retailers	LONG	41.49	1.10	HOLD
AUY	Integrated Mining	SHORT	8.83	1.26	HOLD
AVB	Residential REITs	SHORT	133.33	-0.37	HOLD
BIG		LONG	38.10	2.12	HOLD
BLT	Integrated Mining	LONG	11.90	2.41	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.08	0.21	HOLD
DEI	Commercial REITs - NEC	SHORT	26.80	-0.96	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.51	1.24	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	68.38	0.78	HOLD
EQR	Residential REITs	SHORT	60.03	-0.03	HOLD
GG	Gold - NEC	SHORT	25.58	1.43	HOLD
GPI	New Car Dealers	LONG	63.13	-0.17	HOLD
GPRE	Industrial Gas	LONG	28.88	0.28	HOLD
HTS	Mortgage REITs	SHORT	19.28	0.68	HOLD
KOP	Commodity Chemicals - NEC	LONG	40.78	-0.22	HOLD
KRNY	Commercial Banks	SHORT	14.75	0.75	HOLD
LAD	New Car Dealers	LONG	68.11	2.61	HOLD
LNG	Natural Gas Pipeline	SHORT	59.27	3.98	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.58	3.01	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	63.11	-1.62	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.29	-1.05	HOLD
NVS	Pharmaceuticals - NEC	SHORT	84.03	0.73	HOLD
O	Commercial REITs - NEC	SHORT	41.81	-0.26	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.24	0.61	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	18.22	-0.27	HOLD
PLD	Industrial REITs	SHORT	41.31	0.36	HOLD
PZZA	Restaurants & Bars - NEC	LONG	49.42	1.50	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	147.37	1.70	HOLD
SLV	Investment Trusts	SHORT	19.11	-0.62	HOLD
SNN	Medical Devices & Implants	SHORT	76.24	1.26	HOLD
SNX	Computer Peripherals	LONG	71.92	0.28	HOLD
STM	Semiconductors - NEC	SHORT	9.25	3.12	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	14.61	-1.37	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	18.84	1.24	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	65.98	-0.15	HOLD
WNR	Petroleum Refining	LONG	39.15	2.06	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.10
SHORTS				0.61
TOTAL				0.48
S&P 500				1.08
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	49701928.49	16919858.32	-20.17	0.00	330.52
S&P 500	50.45	5.90	-18.61	2.38	0.75

09-Apr-2014 Daily positions

Pre Opening Longs: ACAT, ALJ, ANN, BIG, BLT, DENN, GPI, GPRE, KOP, LAD,
MTRX, NR, PDLI, PIR, PZZA, SNX, SWHC, TWI, WNR
Pre Opening Shorts: AUY, AVB, CCL, DEI, DVN, EQR, GG, HTS, KRNY, LNG, MWE,
NVS, O, PLD, ROMA, SHPG, SLV, SNN, STM, WES

08-Apr-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	45.21	2.38	HOLD
ALJ	Petroleum Refining	LONG	14.26	-0.97	HOLD
ANN	Women's Apparel Retailers	LONG	41.04	1.26	HOLD
AUY	Integrated Mining	SHORT	8.72	1.16	HOLD
AVB	Residential REITs	SHORT	133.82	0.20	HOLD
BIG		LONG	37.31	1.69	HOLD
BLT	Integrated Mining	LONG	11.62	-0.43	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.00	0.85	HOLD
DEI	Commercial REITs - NEC	SHORT	27.06	0.33	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.43	1.10	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	67.85	0.44	HOLD
EQR	Residential REITs	SHORT	60.05	0.57	HOLD
GG	Gold - NEC	SHORT	25.22	1.90	HOLD
GPI	New Car Dealers	LONG	63.24	1.04	HOLD
GPRE	Industrial Gas	LONG	28.80	2.93	HOLD
HTS	Mortgage REITs	SHORT	19.15	0.58	HOLD
KOP	Commodity Chemicals - NEC	LONG	40.87	0.86	HOLD
KRNY	Commercial Banks	SHORT	14.64	0.14	HOLD
LAD	New Car Dealers	LONG	66.38	1.05	HOLD
LNG	Natural Gas Pipeline	SHORT	57.00	3.58	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.60	1.49	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	64.15	1.31	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.41	3.35	HOLD
NVS	Pharmaceuticals - NEC	SHORT	83.42	1.09	HOLD
O	Commercial REITs - NEC	SHORT	41.92	0.99	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.19	-0.12	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	18.27	3.69	HOLD
PLD	Industrial REITs	SHORT	41.16	0.17	HOLD
PZZA	Restaurants & Bars - NEC	LONG	48.69	0.21	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	144.90	0.76	HOLD
SLV	Investment Trusts	SHORT	19.23	0.52	HOLD
SNN	Medical Devices & Implants	SHORT	75.29	-0.33	HOLD
SNX	Computer Peripherals	LONG	71.72	-5.27	HOLD
STM	Semiconductors - NEC	SHORT	8.97	-0.66	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	14.81	1.13	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	18.61	1.75	HOLD
VMW	IT Services & Consulting - NEC	SHORT	107.68	3.18	COVER
WES	Oil & Gas Refining and Marketing - NEC	SHORT	66.08	0.02	HOLD
WNR	Petroleum Refining	LONG	38.36	-0.62	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				0.87
SHORTS				0.80
TOTAL				0.07
S&P 500				0.41
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	49462927.58	16911639.76	-20.17	0.00	331.82
S&P 500	48.85	6.11	-18.61	2.23	0.73

07-Apr-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	44.16	-3.33	HOLD
ALJ	Petroleum Refining	LONG	14.40	-2.31	HOLD
ANN	Women's Apparel Retailers	LONG	40.53	-3.59	HOLD
AUY	Integrated Mining	SHORT	8.62	-0.46	HOLD
AVB	Residential REITs	SHORT	133.55	0.09	HOLD
BIG		LONG	36.69	-2.19	HOLD
BLT	Integrated Mining	LONG	11.67	-1.02	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	37.68	-0.58	HOLD
DEI	Commercial REITs - NEC	SHORT	26.97	0.15	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.36	-0.78	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	67.55	-0.68	HOLD
EQR	Residential REITs	SHORT	59.71	0.93	HOLD
GG	Gold - NEC	SHORT	24.75	-0.60	HOLD
GPI	New Car Dealers	LONG	62.59	-5.65	HOLD
GPRE	Industrial Gas	LONG	27.98	-2.13	HOLD
HTS	Mortgage REITs	SHORT	19.04	1.12	HOLD
KOP	Commodity Chemicals - NEC	LONG	40.50	-0.30	HOLD
KRNY	Commercial Banks	SHORT	14.62	0.41	HOLD
LAD	New Car Dealers	LONG	65.69	-3.54	HOLD
LNG	Natural Gas Pipeline	SHORT	55.03	0.42	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.12	-6.36	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	63.32	-1.92	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.04	-2.21	HOLD
NVS	Pharmaceuticals - NEC	SHORT	82.52	0.01	HOLD
O	Commercial REITs - NEC	SHORT	41.51	1.89	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.20	1.74	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	17.62	-2.92	HOLD
PLD	Industrial REITs	SHORT	41.09	0.12	HOLD
PZZA	Restaurants & Bars - NEC	LONG	48.59	-3.23	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	143.81	-0.28	HOLD
SLV	Investment Trusts	SHORT	19.10	-0.31	HOLD
SNN	Medical Devices & Implants	SHORT	75.54	-0.77	HOLD
SNX	Computer Peripherals	LONG	75.71	-1.60	HOLD
STM	Semiconductors - NEC	SHORT	9.03	0.44	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	14.65	-1.88	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	18.29	-1.40	HOLD
VMW	IT Services & Consulting - NEC	SHORT	104.36	0.37	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	66.07	-0.86	HOLD
WNR	Petroleum Refining	LONG	38.60	-1.15	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-2.31
SHORTS				-0.02
TOTAL				-2.28
S&P 500				-1.11
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	49431109.04	16902195.74	-20.17	0.00	333.59
S&P 500	48.24	6.19	-18.61	2.18	0.73

07-Apr-2014 Daily positions

Pre Opening Longs: ACAT, ALJ, ANN, BIG, BLT, DENN, GPI, GPRE, KOP, LAD,
MTRX, NR, PDLI, PIR, PZZA, SNX, SWHC, TWI, WNR
Pre Opening Shorts: AUY, AVB, CCL, DEI, DVN, EQR, GG, HTS, KRNY, LNG, MWE,
NVS, O, PLD, ROMA, SHPG, SLV, SNN, STM, VMW, WES