Portfolio 3nd Quarter 2007           As of Mon, Aug 27, 2007
    Open: 0  (Shorts: 0; Longs: 0)    Closed: 70     Up: 47     Down: 23     Avg Gain: 9.6% (Shorts: 14.6%   Longs: 7.3%)
       Total $ Gain: $267,877       Total % Gain 26.8%       WinPct: 67.1%    
                     
DATE IN SYMB S/L ENTRY DATE OUT EXIT / LAST PCT CHG DAYS HELD SHARES $ GAIN (LOSS) COMMENTS
                     
08/09/07 ZILG S 3.98 08/24/07 3.60 9.5% 12 -10750 4,085 CLOSED
08/09/07 PCR L 48.27 08/24/07 56.13 16.3% 12 840 6,602 CLOSED
08/09/07 NSIT L 23.18 08/24/07 23.61 1.9% 12 1790 770 CLOSED
08/09/07 IDSY S 11.68 08/24/07 10.16 13.0% 12 -3690 5,609 CLOSED
08/08/07 HVT S 10.99 08/24/07 11.03 -0.4% 13 -3900 -156 CLOSED
08/06/07 ANDE L 45.66 08/24/07 46.47 1.8% 15 945 765 CLOSED
08/06/07 HGRD L 5.61 08/24/07 5.19 -7.5% 15 7670 -3,221 CLOSED
08/06/07 BRY L 33.02 08/24/07 34.17 3.5% 15 1300 1,495 CLOSED
08/06/07 DWSN L 65.53 08/24/07 69.80 6.5% 15 658 2,810 CLOSED
08/03/07 CVS L 36.88 08/24/07 36.80 -0.2% 16 1170 -94 CLOSED
08/03/07 GSF L 68.12 08/24/07 68.98 1.3% 16 632 544 CLOSED
08/03/07 HOLX L 53.25 08/24/07 53.12 -0.2% 16 810 -105 CLOSED
08/03/07 CACS S 4.34 08/24/07 3.78 12.9% 16 -9760 5,466 CLOSED
08/01/07 CBG L 34.04 08/24/07 30.76 -9.6% 18 1260 -4,133 CLOSED
08/01/07 MTW L 77.86 08/24/07 77.39 -0.6% 18 550 -259 CLOSED
08/01/07 PPC L 33.00 08/24/07 39.11 18.5% 18 1300 7,943 CLOSED
08/01/07 SWIR L 20.44 08/24/07 22.32 9.2% 18 2140 4,023 CLOSED
08/01/07 SPF S 13.97 08/24/07 9.88 29.3% 18 -3100 12,679 CLOSED
08/01/07 QGLY S 4.94 08/24/07 4.48 9.3% 18 -6200 2,852 CLOSED
08/01/07 TNH L 96.54 08/24/07 93.19 -3.5% 18 450 -1,507 CLOSED
08/01/07 CROX L 58.40 08/24/07 58.99 1.0% 18 740 437 CLOSED
07/30/07 MTH S 19.66 08/24/07 18.99 3.4% 20 -2180 1,461 CLOSED
07/30/07 MTSN L 10.32 08/24/07 10.62 2.9% 20 4170 1,251 CLOSED
07/30/07 FSTR L 30.91 08/24/07 38.50 24.6% 20 1390 10,550 CLOSED
07/27/07 TMO L 52.66 08/24/07 52.70 0.1% 21 819 33 CLOSED
07/27/07 TRA L 23.94 08/24/07 25.13 5.0% 21 1800 2,142 CLOSED
07/27/07 TEN L 34.97 08/24/07 31.79 -9.1% 21 1230 -3,911 CLOSED
07/27/07 DHI S 16.98 08/24/07 16.01 5.7% 21 -2500 2,425 CLOSED
07/27/07 BZH S 15.26 08/24/07 10.18 33.3% 21 -2800 14,224 CLOSED
07/26/07 SMTL S 9.81 08/24/07 8.98 8.5% 22 -4400 3,652 CLOSED
07/25/07 PCP L 137.01 08/24/07 138.72 1.2% 23 314 537 CLOSED
07/24/07 SILC L 20.72 08/24/07 20.35 -1.8% 24 2020 -747 CLOSED
07/24/07 ARTW L 16.22 08/24/07 17.02 4.9% 24 2650 2,120 CLOSED
07/20/07 SSW L 36.27 08/24/07 31.71 -12.6% 26 1190 -5,426 CLOSED
07/20/07 NE L 102.87 08/24/07 100.93 -1.9% 26 415 -805 CLOSED
07/20/07 GKK L 27.10 08/24/07 25.98 -4.1% 26 1500 -1,680 CLOSED
06/20/07 SHRP S 12.28 08/24/07 4.72 61.6% 48 -2850 21,546 CLOSED
06/08/07 SIGM L 26.20 08/24/07 36.61 39.7% 56 1300 13,533 CLOSED
05/30/07 DRYS L 41.39 08/24/07 64.60 56.1% 63 845 19,612 CLOSED
05/29/07 VIP L 20.09 08/24/07 22.28 10.9% 64 1750 3,833 CLOSED
05/18/07 ATEA L 6.86 08/20/07 4.20 -38.8% 67 5100 -13,566 CLOSED
05/15/07 VSR L 7.25 08/24/07 8.25 13.8% 74 4800 4,800 CLOSED
05/15/07 PDII S 9.70 08/24/07 9.99 -3.0% 74 -3500 -1,015 CLOSED
05/14/07 DAR L 8.31 08/17/07 7.55 -9.1% 70 4200 -3,192 CLOSED
05/14/07 ATPG L 43.76 08/15/07 44.48 1.6% 68 800 576 CLOSED
05/08/07 KTII L 89.20 08/10/07 94.29 5.7% 69 340 1,731 CLOSED
05/07/07 DSX L 21.06 08/09/07 26.16 24.2% 69 1430 7,293 CLOSED
05/04/07 SOLD S 4.87 08/06/07 4.00 17.9% 67 -6100 5,307 CLOSED
05/03/07 NVTL L 19.96 08/15/07 22.59 13.2% 75 1500 3,945 CLOSED
05/01/07 VSEC L 24.53 08/06/07 50.88 107.4% 70 1220 32,147 CLOSED
05/01/07 NGA L 6.69 08/02/07 7.40 10.6% 68 4500 3,195 CLOSED
04/30/07 MDC S 52.38 08/24/07 45.40 13.3% 85 -570 3,979 CLOSED
04/30/07 OPWV S 7.31 08/09/07 5.43 25.7% 74 -4100 7,708 CLOSED
04/30/07 INPH S 9.55 08/20/07 9.10 4.7% 81 -3100 1,395 CLOSED
04/27/07 EML L 26.18 08/01/07 19.20 -26.7% 69 1100 -7,678 CLOSED
04/27/07 NTRI L 60.70 07/25/07 54.63 -10.0% 64 500 -3,035 CLOSED
04/27/07 CAV S 4.70 07/26/07 4.65 1.1% 65 -6300 315 CLOSED
04/27/07 BXXX L 14.54 08/15/07 10.50 -27.8% 79 2060 -8,322 CLOSED
04/27/07 CNS L 51.68 07/30/07 34.72 -32.8% 67 570 -9,667 CLOSED
04/24/07 PSEC L 17.40 08/24/07 16.76 -3.7% 89 1500 -960 CLOSED
04/11/07 AZZ L 25.20 07/02/07 35.58 41.2% 59 980 10,172 CLOSED
04/10/07 SKY S 33.33 08/01/07 28.34 15.0% 82 -750 3,743 CLOSED
03/30/07 LHCG S 24.12 08/10/07 25.75 -6.8% 96 -775 -1,263 CLOSED
03/16/07 TRMS L 7.63 08/16/07 6.27 -17.8% 110 3800 -5,168 CLOSED
03/09/07 FLE S 7.96 07/13/07 10.21 -28.3% 91 -5000 -11,250 CLOSED
02/27/07 SPN L 30.27 08/24/07 38.47 27.1% 129 1500 12,300 CLOSED
02/14/07 RIG L 76.12 08/24/07 103.94 36.5% 138 650 18,083 CLOSED
02/09/07 OHB S 16.16 08/24/07 7.05 56.4% 141 -3100 28,241 CLOSED
02/08/07 ORCT S 10.14 08/24/07 6.20 38.9% 142 -4900 19,306 CLOSED
02/07/07 NOV L 66.99 08/24/07 121.00 80.6% 143 700 37,807 CLOSED