16-May-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	33.47	-1.41	HOLD
ANN	Women's Apparel Retailers	LONG	40.09	1.80	HOLD
APEI	General Education Services	LONG	36.37	2.19	HOLD
AUY	Integrated Mining	SHORT	7.42	0.82	HOLD
BIG		LONG	38.70	1.60	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.24	-0.78	HOLD
CORE	Supermarkets & Convenience Stores	LONG	78.66	0.41	HOLD
OUTR	Consumer Goods Rental	LONG	69.41	0.71	HOLD
DEI	Commercial REITs - NEC	SHORT	28.19	1.84	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.64	1.37	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	70.67	-0.10	HOLD
GGP	Retail REITs	SHORT	23.60	1.11	HOLD
GPI	New Car Dealers	LONG	77.06	1.31	HOLD
GPRE	Industrial Gas	LONG	27.13	4.91	HOLD
HTS	Mortgage REITs	SHORT	19.86	0.20	HOLD
KONG	Wireless Telecommunications Services - NEC	SHORT	9.18	-0.11	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.10	0.11	HOLD
KRNY	Commercial Banks	SHORT	13.52	1.43	HOLD
LAD	New Car Dealers	LONG	74.03	2.44	HOLD
MT	Steel - NEC	SHORT	15.95	-0.75	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.73	1.11	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	62.58	-0.33	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.28	0.53	HOLD
NVS	Pharmaceuticals - NEC	SHORT	89.88	-0.06	HOLD
O	Commercial REITs - NEC	SHORT	43.88	1.62	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	17.74	0.62	HOLD
SAFM	Animal Slaughtering & Processing	LONG	84.98	0.14	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	166.00	-0.29	HOLD
SLV	Investment Trusts	SHORT	18.61	-0.69	HOLD
SNN	Medical Devices & Implants	SHORT	78.22	1.03	HOLD
SNX	Computer Peripherals	LONG	61.17	1.09	HOLD
STM	Semiconductors - NEC	SHORT	9.34	-0.85	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	15.25	0.59	HOLD
THRX	Biopharmaceuticals	SHORT	27.37	-3.52	HOLD
V	Business Support Services - NEC	SHORT	209.81	1.14	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	71.91	0.73	HOLD
WGO	Recreational Products - NEC	LONG	23.12	-0.04	HOLD
WNC	Heavy Trucks	LONG	13.24	2.16	HOLD
YHOO	Search Engines	SHORT	33.41	-1.15	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				1.14
SHORTS				0.06
TOTAL				1.08
S&P 500				0.35
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1008381569765864400.00	245955928127678690.00	-30.44	0.00	311067.59
S&P 500	51.90	6.07	-18.61	2.29	0.75

16-May-2014 Daily positions

Pre Opening Longs: ACAT, ANN, APEI, BIG, CORE, DENN, GPI, GPRE, KOP, LAD,
MTRX, NR, OUTR, PIR, SAFM, SNX, SWHC, WGO, WNC
Pre Opening Shorts: AUY, CCL, DEI, DVN, GGP, HTS, KONG, KRNY, MT, MWE, NVS,
O, SHPG, SLV, SNN, STM, THRX, V, WES, YHOO

15-May-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	33.95	-12.75	HOLD
ANN	Women's Apparel Retailers	LONG	39.38	-2.74	HOLD
APEI	General Education Services	LONG	35.59	0.28	HOLD
AUY	Integrated Mining	SHORT	7.36	-2.52	HOLD
BIG		LONG	38.09	-2.78	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.54	-1.10	HOLD
CORE	Supermarkets & Convenience Stores	LONG	78.34	0.63	BUY
OUTR	Consumer Goods Rental	LONG	68.92	-0.58	HOLD
DEI	Commercial REITs - NEC	SHORT	27.68	-0.68	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.55	0.46	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	70.74	-1.41	HOLD
GGP	Retail REITs	SHORT	23.34	-0.47	HOLD
GPI	New Car Dealers	LONG	76.06	-0.05	HOLD
GPRE	Industrial Gas	LONG	25.86	-3.76	HOLD
HTS	Mortgage REITs	SHORT	19.82	-0.10	HOLD
KONG	Wireless Telecommunications Services - NEC	SHORT	9.19	-2.13	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.06	-0.91	HOLD
KRNY	Commercial Banks	SHORT	13.33	-0.52	HOLD
LAD	New Car Dealers	LONG	72.27	-1.07	HOLD
MT	Steel - NEC	SHORT	16.07	-1.35	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	32.37	-1.91	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	62.79	-0.17	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.22	-1.84	HOLD
NVS	Pharmaceuticals - NEC	SHORT	89.93	0.77	HOLD
O	Commercial REITs - NEC	SHORT	43.18	-0.96	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.95	1.02	SELL
PIR	Home Furnishings Retailers - NEC	LONG	17.63	-1.23	HOLD
SAFM	Animal Slaughtering & Processing	LONG	84.86	-0.48	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	166.49	-1.16	HOLD
SLV	Investment Trusts	SHORT	18.74	-1.37	HOLD
SNN	Medical Devices & Implants	SHORT	77.42	-0.09	HOLD
SNX	Computer Peripherals	LONG	60.51	-1.26	HOLD
STM	Semiconductors - NEC	SHORT	9.42	-2.99	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	15.16	-0.79	HOLD
THRX	Biopharmaceuticals	SHORT	28.37	-1.70	HOLD
V	Business Support Services - NEC	SHORT	207.45	-1.15	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	71.39	0.68	HOLD
WGO	Recreational Products - NEC	LONG	23.13	-1.87	HOLD
WNC	Heavy Trucks	LONG	12.96	-1.82	HOLD
YHOO	Search Engines	SHORT	33.80	-1.08	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.79
SHORTS				-0.98
TOTAL				-0.82
S&P 500				-0.88
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	997567246926575230.00	245558381454188510.00	-30.44	0.00	314480.70
S&P 500	51.37	6.13	-18.61	2.25	0.74

15-May-2014 Daily positions

Pre Opening Longs: ACAT, ANN, APEI, BIG, DENN, GPI, GPRE, KOP, LAD, MTRX,
NR, OUTR, PDLI, PIR, SAFM, SNX, SWHC, WGO, WNC
Pre Opening Shorts: AUY, CCL, DEI, DVN, GGP, HTS, KONG, KRNY, MT, MWE, NVS,
O, SHPG, SLV, SNN, STM, THRX, V, WES, YHOO

14-May-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	38.91	-3.54	HOLD
ANN	Women's Apparel Retailers	LONG	40.49	-1.65	HOLD
APEI	General Education Services	LONG	35.49	-4.00	HOLD
AUY	Integrated Mining	SHORT	7.55	5.45	HOLD
BIG		LONG	39.18	-1.38	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	38.97	-0.97	HOLD
OUTR	Consumer Goods Rental	LONG	69.32	2.17	HOLD
DEI	Commercial REITs - NEC	SHORT	27.87	0.72	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.52	-2.10	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	71.75	-0.94	HOLD
GGP	Retail REITs	SHORT	23.45	-0.17	HOLD
GPI	New Car Dealers	LONG	76.10	-2.36	HOLD
GPRE	Industrial Gas	LONG	26.87	-1.93	HOLD
HTS	Mortgage REITs	SHORT	19.84	1.02	HOLD
KONG	Wireless Telecommunications Services - NEC	SHORT	9.39	0.43	HOLD
KOP	Commodity Chemicals - NEC	LONG	37.65	-2.06	HOLD
KRNY	Commercial Banks	SHORT	13.40	-1.83	HOLD
LAD	New Car Dealers	LONG	73.05	-1.48	HOLD
MT	Steel - NEC	SHORT	16.29	1.31	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.00	0.00	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	62.90	0.50	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.43	-1.80	HOLD
NVS	Pharmaceuticals - NEC	SHORT	89.24	0.87	HOLD
O	Commercial REITs - NEC	SHORT	43.60	-0.18	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.86	2.90	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	17.85	-3.09	HOLD
SAFM	Animal Slaughtering & Processing	LONG	85.27	0.49	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	168.45	-0.48	HOLD
SLV	Investment Trusts	SHORT	19.00	1.23	HOLD
SNN	Medical Devices & Implants	SHORT	77.49	-0.87	HOLD
SNX	Computer Peripherals	LONG	61.28	-3.84	HOLD
STM	Semiconductors - NEC	SHORT	9.71	-0.21	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	15.28	-1.93	HOLD
THRX	Biopharmaceuticals	SHORT	28.86	6.73	HOLD
V	Business Support Services - NEC	SHORT	209.86	-0.85	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	70.91	0.27	HOLD
WGO	Recreational Products - NEC	LONG	23.57	-4.61	HOLD
WNC	Heavy Trucks	LONG	13.20	-2.65	HOLD
YHOO	Search Engines	SHORT	34.17	-0.67	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-1.73
SHORTS				0.57
TOTAL				-2.30
S&P 500				-0.47
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1006153413573715600.00	245293026325152740.00	-30.44	0.00	319863.75
S&P 500	52.71	5.92	-18.61	2.38	0.76

14-May-2014 Daily positions

Pre Opening Longs: ACAT, ANN, APEI, BIG, DENN, GPI, GPRE, KOP, LAD, MTRX,
NR, OUTR, PDLI, PIR, SAFM, SNX, SWHC, WGO, WNC
Pre Opening Shorts: AUY, CCL, DEI, DVN, GGP, HTS, KONG, KRNY, MT, MWE, NVS,
O, SHPG, SLV, SNN, STM, THRX, V, WES, YHOO

13-May-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	40.34	-0.71	HOLD
ANN	Women's Apparel Retailers	LONG	41.17	-0.29	HOLD
APEI	General Education Services	LONG	36.97	-2.38	HOLD
AUY	Integrated Mining	SHORT	7.16	-0.56	HOLD
BIG		LONG	39.73	-0.20	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.35	-1.01	HOLD
OUTR	Consumer Goods Rental	LONG	67.85	-1.15	HOLD
DEI	Commercial REITs - NEC	SHORT	27.67	-1.67	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.66	-1.91	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	72.43	1.96	HOLD
GGP	Retail REITs	SHORT	23.49	-0.97	SHORT
GPI	New Car Dealers	LONG	77.94	-1.40	HOLD
GPRE	Industrial Gas	LONG	27.40	0.11	HOLD
HTS	Mortgage REITs	SHORT	19.64	0.05	HOLD
KONG	Wireless Telecommunications Services - NEC	SHORT	9.35	-4.30	HOLD
KOP	Commodity Chemicals - NEC	LONG	38.44	0.34	HOLD
KRNY	Commercial Banks	SHORT	13.65	-2.15	HOLD
LAD	New Car Dealers	LONG	74.15	-2.43	HOLD
MT	Steel - NEC	SHORT	16.08	1.01	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.00	-1.14	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	62.59	-1.29	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.64	-1.61	HOLD
NVS	Pharmaceuticals - NEC	SHORT	88.47	-0.16	HOLD
O	Commercial REITs - NEC	SHORT	43.68	-0.91	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.61	1.65	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	18.42	0.00	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	COVER
SAFM	Animal Slaughtering & Processing	LONG	84.85	0.83	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	169.27	1.38	HOLD
SLV	Investment Trusts	SHORT	18.77	-0.05	HOLD
SNN	Medical Devices & Implants	SHORT	78.17	-0.23	HOLD
SNX	Computer Peripherals	LONG	63.73	-1.44	HOLD
STM	Semiconductors - NEC	SHORT	9.73	0.10	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	15.58	-2.69	HOLD
THRX	Biopharmaceuticals	SHORT	27.04	1.35	HOLD
V	Business Support Services - NEC	SHORT	212.06	0.17	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	70.72	-0.32	HOLD
WGO	Recreational Products - NEC	LONG	24.71	0.32	HOLD
WNC	Heavy Trucks	LONG	13.56	-0.73	HOLD
YHOO	Search Engines	SHORT	34.40	-0.15	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				-0.78
SHORTS				-0.34
TOTAL				-0.44
S&P 500				0.09
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1029704700050566400.00	245196275269944990.00	-30.43	0.00	326866.41
S&P 500	53.44	5.81	-18.61	2.46	0.77

13-May-2014 Daily positions

Pre Opening Longs: ACAT, ANN, APEI, BIG, DENN, GPI, GPRE, KOP, LAD, MTRX,
NR, OUTR, PDLI, PIR, SAFM, SNX, SWHC, WGO, WNC
Pre Opening Shorts: AUY, CCL, DEI, DVN, HTS, KONG, KRNY, MT, MWE, NVS, O,
ROMA, SHPG, SLV, SNN, STM, THRX, V, WES, YHOO

12-May-2014 Daily performance

SYMBOL	INDUSTRY	POSITION	PRICE	DAY CHANGE(%)	ACTIONS
ACAT	Auto & Truck Manufacturers - NEC	LONG	40.63	5.26	HOLD
ANN	Women's Apparel Retailers	LONG	41.29	4.29	HOLD
APEI	General Education Services	LONG	37.87	3.19	HOLD
AUY	Integrated Mining	SHORT	7.20	-0.28	HOLD
BIG		LONG	39.81	2.02	HOLD
CCL	Hotels, Motels & Cruise Lines - NEC	SHORT	39.75	1.58	HOLD
OUTR	Consumer Goods Rental	LONG	68.64	1.79	HOLD
DEI	Commercial REITs - NEC	SHORT	28.14	0.97	HOLD
DENN	Restaurants & Bars - NEC	LONG	6.79	1.19	HOLD
DVN	Oil & Gas Exploration and Production - NEC	SHORT	71.04	0.44	HOLD
GPI	New Car Dealers	LONG	79.05	2.72	HOLD
GPRE	Industrial Gas	LONG	27.37	4.15	HOLD
HTS	Mortgage REITs	SHORT	19.63	-0.25	HOLD
KONG	Wireless Telecommunications Services - NEC	SHORT	9.77	5.62	HOLD
KOP	Commodity Chemicals - NEC	LONG	38.32	2.32	HOLD
KRNY	Commercial Banks	SHORT	13.95	1.45	HOLD
LAD	New Car Dealers	LONG	76.00	4.97	HOLD
MT	Steel - NEC	SHORT	15.92	2.51	HOLD
MTRX	Oil Related Services and Equipment - NEC	LONG	33.38	-0.57	HOLD
MWE	Oil & Gas Refining and Marketing - NEC	SHORT	63.41	0.02	HOLD
NR	Oil Related Services and Equipment - NEC	LONG	11.83	1.89	HOLD
NVS	Pharmaceuticals - NEC	SHORT	88.61	0.23	HOLD
O	Commercial REITs - NEC	SHORT	44.08	0.69	HOLD
PDLI	Biotechnology & Medical Research - NEC	LONG	8.47	0.36	HOLD
PIR	Home Furnishings Retailers - NEC	LONG	18.42	2.39	HOLD
ROMA	Banks - NEC	SHORT	21.06	0.00	HOLD
SAFM	Animal Slaughtering & Processing	LONG	84.15	2.77	HOLD
SHPG	Pharmaceuticals - NEC	SHORT	166.97	-0.70	HOLD
SLV	Investment Trusts	SHORT	18.78	1.95	HOLD
SNN	Medical Devices & Implants	SHORT	78.35	1.53	HOLD
SNX	Computer Peripherals	LONG	64.66	4.14	HOLD
STM	Semiconductors - NEC	SHORT	9.72	2.10	HOLD
SWHC	Industrial Machinery & Equipment - NEC	LONG	16.01	2.89	HOLD
THRX	Biopharmaceuticals	SHORT	26.68	-0.67	HOLD
TWI	Auto, Truck & Motorcycle Parts - NEC	LONG	16.76	2.38	SELL
V	Business Support Services - NEC	SHORT	211.70	0.42	HOLD
WES	Oil & Gas Refining and Marketing - NEC	SHORT	70.95	1.21	HOLD
WGO	Recreational Products - NEC	LONG	24.63	2.16	BUY
WNC	Heavy Trucks	LONG	13.66	3.02	HOLD
YHOO	Search Engines	SHORT	34.45	2.04	HOLD
TODAY SUMMARY				GAINS(%)
LONGS				2.69
SHORTS				1.04
TOTAL				1.65
S&P 500				0.97
Since 10-Mar-2011	GAINS(%)	STD	MAX. FALL	SHARPE RATIO	CALMAR RATIO
Portfolio	1034279415028108800.00	244990084399294910.00	-30.43	0.00	332061.97
S&P 500	53.30	5.81	-18.61	2.46	0.77

12-May-2014 Daily positions

Pre Opening Longs: ACAT, ANN, APEI, BIG, DENN, GPI, GPRE, KOP, LAD, MTRX,
NR, OUTR, PDLI, PIR, SAFM, SNX, SWHC, TWI, WNC
Pre Opening Shorts: AUY, CCL, DEI, DVN, HTS, KONG, KRNY, MT, MWE, NVS, O,
ROMA, SHPG, SLV, SNN, STM, THRX, V, WES, YHOO