Growth - Value Portfolio Closed Positions

As of Market close on

12/31/08

Stock

Begin Date

Begin Price

Last Date

Last Price

Gross P/L (%)

Status

Sell stop

Metrics

VSE

12/31/07

15.28

1/2/08

15.20

-0.5%

closed

15.52

Value

MICC

12/31/07

117.94

1/4/08

109.29

-7.3%

closed

112.28

Growth

HW

12/31/07

11.74

1/4/08

11.23

-4.3%

closed

11.43

Value

FSLR

12/31/07

267.14

1/4/08

245.58

-8.1%

closed

252.82

Growth

GME

12/31/07

62.11

1/7/08

56.52

-9.0%

closed

56.97

Growth

RIG

12/31/07

143.15

1/15/08

133.07

-7.0%

closed

134.15

Growth

BYI

12/31/07

49.72

1/16/08

45.79

-7.9%

closed

46.78

Growth

PERY

2/1/08

18.00

2/8/08

15.76

-12.4%

closed

16.20

Ab Value

MOS

2/1/08

93.47

3/7/08

104.06

11.3%

closed

105.35

Growth

DBA

2/22/08

40.95

3/17/08

38.87

-5.1%

closed

38.68

Growth

SKF

3/7/08

133.34

3/20/08

106.66

-20.0%

closed

126.23

Inverse

SRS

3/7/08

121.13

3/20/08

96.60

-20.3%

closed

112.51

Inverse

QID

2/8/08

51.78

3/24/08

48.16

-7.0%

closed

51.87

Inverse

PDE

4/18/08

40.63

5/1/08

41.50

2.1%

closed

35.04

Growth

RIG

4/18/08

158.69

5/1/08

145.76

-8.1%

closed

127.74

Growth

AKS

4/25/08

67.24

5/1/08

62.93

-6.4%

closed

53.79

Growth

TRW

5/9/08

27.53

5/30/08

24.95

-9.4%

closed

23.36

Value

V

5/2/08

82.75

6/11/08

77.74

-6.1%

closed

79.65

Growth

MKSI

2/1/08

19.63

6/23/08

22.37

14.0%

closed

22.74

Rel Value

CCK

4/25/08

27.51

6/27/08

26.05

-5.3%

closed

26.22

Growth

MVL

4/25/08

29.78

6/27/08

33.00

10.8%

closed

33.14

Growth

FCX

5/30/08

115.71

7/2/08

107.57

-7.0%

closed

112.19

Rel Value

ATVI

5/16/08

32.94

7/2/08

31.58

-4.1%

closed

33.57

Growth

POT

6/13/08

226.13

7/2/08

212.55

-6.0%

closed

215.55

Growth

ERES

5/9/08

15.22

7/16/08

14.20

-6.7%

closed

16.52

Growth

SKF

7/3/08

160.40

7/16/08

159.75

-0.4%

closed

163.13

Inverse

USO

5/9/08

102.12

7/17/08

105.53

3.3%

closed

105.73

Growth

TWM

7/3/08

84.76

7/17/08

76.80

-9.4%

closed

69.10

Inverse

GILD

5/9/08

53.64

7/18/08

49.53

-7.7%

closed

50.98

Growth

IBM

7/18/08

129.39

9/4/08

115.00

-11.1%

closed

116.55

Growth

FSYS

8/11/08

52.60

9/4/08

52.25

-0.7%

closed

53.63

Growth

OSIP

8/1/08

52.20

9/5/08

47.55

-8.9%

closed

47.83

Growth

SY

8/11/08

35.90

9/9/08

31.65

-11.8%

closed

32.88

Growth

IWM

7/25/08

70.53

9/29/08

65.05

-7.8%

closed

67.63

Sm Caps

CNMD

7/11/08

27.73

10/6/08

28.24

1.8%

closed

29.69

Rel Value

MYGN

8/29/08

68.20

10/6/08

59.45

-12.8%

closed

61.51

Growth

BG

11/7/08

44.22

11/14/08

38.70

-12.5%

closed

39.80

Rel. value

APC

11/7/08

36.33

11/19/08

35.96

-1.0%

closed

36.14

Rel. value

EPIQ

12/5/08

17.30

12/29/08

15.21

-12.1%

closed

15.57

Growth

SLG

12/26/08

27.22

12/29/08

24.42

-10.3%

closed

24.50

Rel Value

Top-Down Trading in 2008 ($9809.07 Initial Capital)

% Initial Capital

Closed trades in 2008 =

30

Average Trade Size =

$1,000.00

Total Closed Position Share costs =

$30,000.00

Gross Profit on Closed Positions =

-$1,668.96

-17.01%

Number of Open Positions =

4

Cost of Open Positions =

$4,000.00

Gross Profit on Open Positions in 2008 =

$456.56

4.65%

Total Gross Profit =

-$1,212.40

-12.36%

Broker Commission ($9.99/trade) =

-$579.42

Subscription Cost to date =

$0.00

Net 2008 Profit After Expenses =

-$1,791.82

-18.27%

Cash =

$3,560.69

Current Capital =

$8,017.25

12/31/08

Top - Down Portfolio Closed Positions

As of Market close on

12/31/08

Stock

Begin Date

Begin Price

Last Date

Last Price

Gross P/L (%)

Status

Sell stop

Metrics

CNX

12/31/07

71.52

1/4/08

65.48

-8.4%

closed

66.22

Growth

BBY

12/31/07

52.51

1/4/08

47.48

-9.6%

closed

48.04

Growth

PBR

12/31/07

115.24

1/16/08

98.09

-14.9%

closed

106.93

Growth

SRP

12/31/07

16.98

1/22/08

14.90

-12.2%

closed

15.28

Defensive

CPD

1/16/08

17.00

1/28/08

15.27

-10.2%

closed

15.30

Defensive

ACH

2/19/08

45.26

3/6/08

45.71

1.0%

closed

46.91

Growth

POT

2/19/08

152.50

3/10/08

143.03

-6.2%

closed

147.85

Growth

BHP

2/19/08

72.66

3/10/08

66.16

-8.9%

closed

68.18

Growth

NFLX

3/18/08

35.00

4/22/08

30.00

-14.3%

closed

32.56

Growth

FXE

12/31/07

146.40

5/1/08

154.66

5.6%

closed

128.08

Defensive

FXA

2/19/08

92.34

5/1/08

93.49

1.2%

closed

76.40

Defensive

FXF

3/18/08

99.85

5/1/08

95.16

-4.7%

closed

80.90

Defensive

FXY

3/18/08

100.30

5/1/08

95.50

-4.8%

closed

80.70

Defensive

IYE

4/15/08

138.54

5/1/08

139.32

0.6%

closed

117.42

Growth

OIH

4/15/08

190.73

5/1/08

191.77

0.5%

closed

166.13

Growth

USO

4/15/08

91.44

5/1/08

90.38

-1.2%

closed

76.55

Growth

MOS

6/17/08

161.08

6/24/08

142.98

-11.2%

closed

144.97

Growth

TRA

6/17/08

55.10

6/25/08

48.87

-11.3%

closed

49.59

Growth

X

5/20/08

184.02

7/2/08

153.40

-16.6%

closed

172.76

Growth

AGU

6/17/08

110.99

7/2/08

99.75

-10.1%

closed

101.21

Growth

IYE

5/20/08

155.25

7/9/08

138.11

-11.0%

closed

139.73

Growth

OIH

5/20/08

218.22

7/9/08

200.46

-8.1%

closed

201.79

Growth

USO

5/20/08

104.30

7/17/08

105.53

1.2%

closed

105.73

Growth

AMED

7/15/08

57.36

8/13/08

52.32

-8.8%

closed

52.86

Growth

BXS

9/16/08

25.65

9/29/08

26.15

1.9%

closed

26.96

Income

JNJ

8/19/08

70.69

10/6/08

64.50

-8.8%

closed

65.00

Income

CASY

8/19/08

28.73

10/7/08

27.01

-6.0%

closed

27.25

Income

SJL

10/21/08

143.67

10/28/08

159.00

10.7%

closed

175.50

Income

FXY

10/21/08

99.65

10/28/08

101.96

2.3%

closed

95.94

currency

UUP

10/21/08

26.04

12/15/08

24.85

-4.6%

closed

24.37

currency

Price Channel Trading in 2008 ($11000 Initial Capital)

% Initial Capital

Closed trades in 2008 =

49

Average Trade Size =

$1,000

Total Closed Position Share costs =

$49,000

Gross Profit on Closed Positions =

-$994.15

-9.0%

Number of Open Positions =

0

Cost of Open Positions =

$0

Gross Profit on Open Positions in 2008 =

$0.00

0.0%

Total Gross Profit =

-$994.15

-9.04%

Broker Commission ($9.99/trade) =

-$939.06

Subscription Cost to date =

-$98.00

Net 2008 Profit After Expenses =

-$2,031.21

-18.5%

Cash =

$9,066.79

Current Capital =

$9,066.79

12/31/08

Price Channel Portfolio Closed Positions

 As of Market close on

12/31/08

Stock

Begin Date

Begin Price

Last Date

Last Price

Gross P/L (%)

Direction of Trade

Status

Trailing  Stop

MDC

12/31/07

37.13

1/22/08

38.22

-2.9%

Short

closed

38.58

ARNA

12/31/07

7.83

1/22/08

8.09

-3.3%

Short

closed

8.53

MER

1/18/08

51.87

1/22/08

54.43

-4.9%

Short

closed

62.24

LPX

12/31/07

13.68

1/28/08

14.96

-9.4%

Short

closed

14.93

AVID

12/31/07

28.34

1/29/08

26.90

5.1%

Short

closed

28.79

CNO

12/31/07

12.56

1/29/08

12.02

4.3%

Short

closed

12.02

HW

12/31/07

11.74

1/29/08

11.70

0.3%

Short

closed

11.71

IPG

12/31/07

8.11

1/29/08

8.96

-10.5%

Short

closed

8.88

CVC

1/18/08

22.97

1/29/08

23.53

-2.4%

Short

closed

25.88

XNPT

2/1/08

62.21

2/19/08

53.96

-13.3%

Long

closed

56.58

NLY

2/1/08

19.99

3/6/08

15.81

-20.9%

Long

closed

18.90

POZN

2/1/08

12.38

3/6/08

11.64

-6.0%

Long

closed

11.57

URBN

2/1/08

29.00

3/6/08

28.49

-1.8%

Long

closed

27.88

ASA

2/29/08

87.59

3/6/08

89.23

1.9%

Long

closed

81.01

C

2/8/08

26.03

3/20/08

22.50

13.6%

short

closed

20.48

CM

3/14/08

60.82

3/20/08

63.11

-3.8%

short

closed

62.98

AIG

3/28/08

42.80

4/4/08

47.30

-10.5%

short

closed

47.08

ADM

2/22/08

44.58

3/21/08

40.18

-9.9%

Long

closed

41.92

CMP

2/1/08

41.83

5/1/08

63.60

52.0%

Long

closed

58.94

FDP

3/14/08

36.02

5/1/08

29.32

-18.6%

Long

closed

31.36

SWN

3/14/08

32.92

5/1/08

40.90

24.2%

Long

closed

35.57

SGY

4/4/08

55.73

5/1/08

59.75

7.2%

Long

closed

54.99

KEX

5/16/08

59.56

6/9/08

53.42

-10.3%

Long

closed

53.60

MA

4/18/08

233.71

6/10/08

286.05

22.4%

Long

closed

288.00

PCLN

4/25/08

128.38

6/11/08

120.88

-5.8%

Long

closed

125.69

KOF

3/20/08

55.91

6/18/08

54.25

-3.0%

Long

closed

56.25

MON

6/13/08

137.26

6/26/08

127.25

-7.3%

Long

closed

128.42

STLD

6/20/08

38.90

7/2/08

34.21

-12.1%

Long

closed

35.99

FLS

4/4/08

110.51

7/3/08

114.65

3.7%

Long

closed

124.44

NBL

5/16/08

101.54

7/3/08

93.21

-8.2%

Long

closed

93.45

DVN

5/9/08

115.56

7/7/08

111.00

-3.9%

Long

closed

111.77

OXY

5/30/08

91.93

7/8/08

82.53

-10.2%

Long

closed

84.20

DB

6/27/08

86.90

7/17/08

87.31

-0.5%

short

closed

95.47

LM

6/27/08

44.11

7/17/08

36.09

18.2%

short

closed

35.94

MER

6/27/08

32.70

7/17/08

30.73

6.0%

short

closed

29.63

WY

7/3/08

49.43

7/17/08

51.14

-3.5%

short

closed

56.72

LVS

7/3/08

39.47

7/17/08

37.74

4.4%

short

closed

39.83

OEH

7/11/08

30.89

7/17/08

32.53

-5.3%

short

closed

33.89

CYBX

7/25/08

27.56

8/25/08

23.23

-15.7%

Long

closed

23.94

CALM

7/18/08

37.43

9/3/08

35.07

-6.3%

Long

closed

42.89

CLHB

3/28/08

65.08

9/5/08

74.01

13.7%

Long

closed

74.52

LUFK

8/1/08

91.24

9/5/08

81.40

-10.8%

Long

closed

84.74

NSC

8/8/08

73.55

9/9/08

62.56

-14.9%

Long

closed

66.27

BIG

8/22/08

33.46

9/17/08

29.22

-12.7%

Long

closed

30.11

STRA

8/8/08

221.15

9/29/08

200.09

-9.5%

Long

closed

203.39

THOR

9/5/08

26.22

9/29/08

25.66

-2.1%

Long

closed

25.98

QSII

9/19/08

45.96

10/2/08

41.00

-10.8%

Long

closed

41.36

MA

10/17/08

156.75

11/4/08

170.24

-8.6%

short

closed

151.62

INT

12/5/08

32.90

12/12/08

33.94

3.2%

Long

closed

34.34

Long - Short Pairs Trading in 2008 ($10000 Initial Capital)

% Initial Capital

Closed trades in 2008 =

2

Average Trade Size =

$990.83

Total Closed Position Share costs =

$1,982

Gross Profit on Closed Positions =

-$237.06

-2.4%

Number of Open Positions =

1

Cost of Open Positions =

$909.56

Gross Profit on Open Positions in 2008 =

$39.47

0.4%

Total Gross Profit =

-$197.59

-1.98%

Broker Commission ($9.99/trade) =

-$99.90

Subscription Cost to date =

$73.50

Net 2008 Profit After Expenses =

-$223.99

-2.2%

Cash =

$9,208.26

Current Capital =

$9,706.23

12/31/08