Stock Contest

"Ladies and Gentlemen, start your engines!" The stock contest starts on Monday. I encourage any procrastinators to enter soon as June 30th is entry deadline. Details at the end of the blog.

My real money portfolio was up about 1% yesterday, in line with the broad market. Still have about a 2% edge on the Russell 3000 index. My purchase of USHS has been disastrous so far, down 19%. On no negative news that I can see. Ouch. Some one is selling! Enough negatives.

I is a real race (since that is my theme) for best current stock. BBSI, TRLG & TGB are all up about 35%. CHCG has been a real Jeckyl and Hyde stock. I bought them around $6.10. They went directly (did not pass go) to almost $8. Now they are about $6.50. VPHM had a stock fast tracked yesterday and went up about 7%. I don't think that a drug being fast tracled means it has a better chance of doing better in trials (ASPV had the same thing and had bad news on the trial yesterday).

I have decided for the contest that I will split my 15 picks 3 ways:

1. I will pick 5 random stocks.
2. I will pick 5 just listed stocks and
3. I will pick 5 blue light specials.

If anyone cares, my picks will be later in the week as I'll be traveling with my family at the start of the week for the 4th holiday. Good luck all!

Use the information and directions below to join the game.

Game ID: MFI_Contest
Game Password: greenblatt

1. Open this link and read the competition summary:
   http://vse.marketwatch.com/Game/StartViewGame.aspx?id=MFI_Contest
2. Click on the 'Join Game' link.
3. If you are an existing Virtual Stock Exchange member, enter your Email address and Password in the login panel and get set to trade. If you are a new user, follow the link to register - it's easy!
4. Follow the instructions and start trading!

Join now, and see if you can win my MFI Stock Contest competition! The more participants the higher the level of competition. Can you master the market?

True Value

Another "decent" day. I gained more on the benchmark, but lost real dollars. I did buy a new stock this morning, but I bought it about 6 hours too early.

USHS - this is from my just listed analysis and as one reader suggested (George?) I may have tried to catch a falling knife. It ended up down 13%. I'd have rather bought it cheaper, but I still like the company. I have a year, just am starting in a hole.

Even with the blistering of USHS, my portfolio was down a liveable 0.28%. Largely due to two stocks:

True Religion and
Value Line

TRLG was up a snappy 10% as they were upgraded, which surely toasted some shorts. While I don't get excited about upgrades or downgrades (I'd rather let the #s speak for themselves) I did like what the analyst said:

"Our faith has been renewed in this global growth story as we believe management is executing on key priorities," Lakner wrote.

Lakner said True Religion's new design team is helping the company expand outside its namesake denim business.

"The non-denim product, which we felt was lacking before, now looks much improved for spring 2008 and we think that this part of the business can begin to expand significantly beginning with spring 2008 orders," Lakner wrote in a client note.

I wonder if he used the word "faith" intentionally?

Then VALU shot up 9%. At one time it was up over 13%. It is a lightly traded stock, about 6,000 shares per day. Today though, lots of buys with over 46,000 shares being traded. No clue as to why it was up, but this stock was around $41 a share just 3 weeks ago and is now almost $50. But it has traded as high as $58 in past 52 weeks.

Why the swings? As JG asks (and I paraphase) is Value Line worth less than it was 6 months ago? Is it worth more than it was 3 weeks ago? Or does the market just go nuts from time to time? I think the same can be said of USHS from the 1st paragraph. The market just goes nuts at times.

Finally a plug for my stock picking contest:

Last week to enter. Contest begins next Monday and late entrants will not be permitted. We have over 30 entries so far. Contest is to pick 15 MFI stocks at roughly $10,000 per stock. Have to buy and hold for a year. Instructions at the VSE to drop me a line if you enter and I'll add you to email list so we can trade ideas and harass one another. There will be a prize for the winner and I will ask winner to share how he/she selected the stocks.

MG

Use the information and directions below to join the game.

Game ID: MFI_Contest
Game Password: greenblatt

1. Open this link and read the competition summary:
   http://vse.marketwatch.com/Game/StartViewGame.aspx?id=MFI_Contest
2. Click on the 'Join Game' link.
3. If you are an existing Virtual Stock Exchange member, enter your Email address and Password in the login panel and get set to trade. If you are a new user, follow the link to register - it's easy!
4. Follow the instructions and start trading!

Join now, and see if you can win my MFI Stock Contest competition! The more participants the higher the level of competition. Can you master the market?

BTW, people are allowed to pick stocks that have been on MFI lists in June (will anyone pick VSE because contest is on Virtual Stock Exchange?). here is a list of many eligible stocks (though not exhaustive):

ABC

ACN

AEO

ALOY

AMAT

AMED

AMEN

AMSG

ARDNA

ASPV

ATRM

AVCA

AVCI

AVR

AXCA

BBSI

BBY

BEBE

BJS

BPT

BVF

CAW

CHCG

CHKE

CLHI

CMTL

CONN

CRAI

CRWS

CRYP

CUTR

CVCO

CXR

DBRN

DGX

DLX

DPZ

EFX

EGLT

EGY

EPIQ

FCGI

FDG

FMXL

FRX

FTD

FTO

GCI

GIB

GLBL

GNI

GW

HAS

HBMFF

HDIX

HLF

HLYS

HOC

HOG

HRSH

HSII

HURC

HW

IBIN

ICFI

IPSU

ISNS

IVAC

JAKK

JRC

KFY

KG

KSW

KSWS

KYCN

LNCR

LRCX

LRW

LXK

MDP

MEOH

MM

MOCO

MRO

MSTR

MTEX

NATH

NOOF

NPLA

NUE

NXG

OFI

OPMR

OVTI

PACR

PALM

PBH

PCU

PDII

PDS

PMD

PMTI

PNCL

PPD

PRZ

PTEN

PWEI

RAIL

RHI

RNO

ROK

SCSS

SHOO

STEC

SUPX

TBL

TBV

TCK

TGB

TGIS

THE

TRLG

TSO

TZOO

UCLP

UEPS

UG

UNTD

USHS

USMO

USNA

USPH

UTMD

VALU

VGR

VPHM

VRGY

VSE

VSNT

WDC

WIRE

WMCO

WNR

WON

WPCS

WSTG

XJT

XOM

XRTX

2.5%

Been a decent run, at least against the benchmark. Am now up 2.5%, nearing my best mark ever. I'd like to think I am getting better at picking stocks. Couple quickies:

VGR - Cramer recommended this stock earlier this week (Cramer's 'Mad Money' Recap: Piggybacking on Master Investors) and it shot up 12%! Wish I'd have bought it back in March.

TGIS - Made it back on the list this week after a 4+ month hiatus. I had to laugh at another blogger's opinion on TGIS (Thomas Group: No Reason to Stick Around). This guy bailed on TGIS after holding it for two weeks and losing 18%,. What conviction! What conviction? You have to read it to follow his convoluted logic.

Now for weekly graph and chart.

Current Portfolio
Stock	Purchase Date	Cost	Current	Gain
TGB	4/16/2007	$2.64	$3.73	41.3%
TRLG	5/22/2007	$15.54	$20.46	31.7%
FTO	1/10/2007	$35.16	$44.41	26.3%
FDG	3/8/2007	$25.45	$31.69	24.5%
BBSI	9/6/2006	$19.56	$23.81	22.8%
ASEI	10/5/2006	$45.85	$55.98	22.1%
ISNS	7/7/2006	$13.17	$15.89	20.6%
VPHM	9/11/2006	$11.79	$14.05	19.1%
CHCG.OB	6/5/2007	$6.10	$7.25	18.9%
UNTD	5/1/2007	$14.46	$16.92	18.4%
PDS	3/1/2007	$22.58	$25.33	14.2%
GVHR	4/3/2007	$19.17	$21.76	14.0%
LRCX	7/3/2007	$47.51	$54.00	13.7%
KSW	5/10/2007	$6.48	$7.35	13.5%
THO	3/26/2007	$40.30	$45.39	12.8%
RAIL	2/16/2007	$45.54	$50.79	11.7%
CREL	2/26/2007	$12.50	$13.63	9.0%
PNCL	2/9/2007	$17.07	$18.59	8.9%
WSTG	5/15/2007	$14.98	$16.18	8.7%
VALU	5/29/2007	$44.01	$46.90	6.6%
TGIS	11/30/2006	$9.18	$9.76	6.3%
NOOF	4/27/2007	$8.59	$8.79	3.8%
UG	6/13/2007	$12.07	$12.40	2.7%
WPCS	6/18/2007	$11.89	$12.20	2.6%
ANF	2/2/2007	$74.81	$76.55	2.6%
BLDR	9/18/2006	$15.91	$16.23	2.0%
JTX	4/9/2007	$28.70	$28.64	-0.2%
DGX	3/17/2007	$52.11	$51.71	-0.6%
SHOO	1/17/2007	$32.36	$32.10	-0.8%
AEO	6/26/2007	$28.42	$26.45	-6.9%
PACR	1/3/2007	$28.26	$25.11	-10.1%
IVAC	1/24/2007	$23.52	$20.20	-14.1%
EGY	12/13/2006	$6.42	$5.00	-22.1%
HW	12/27/2006	$24.00	$17.53	-27.0%
Gain/Loss Open Positions ($):				$42,164
Gain/Loss Open Positions (%):				7.7%
Gain/Loss Closed Positions ($):				$36,599
Gain/Loss Closed Positions (%):				11.1%
Total Gain/Loss ($):				$78,763
Benchmark Gain/Loss ($):				$65,449
Annual IRR:				19.9%
Total Gain/Loss (%):				15.4%

Slow Reverse

Not too bad yesterday as I went backwards but not as fast as general market. I am now 2% better than the benchmark, which is starting to look respectable. The 2 stocks I wrote about the other day, HNR and NPLA succumbed to gravity the past 2 days, making my blog a good contrarian indicator!

FDG and PDS announced their distributions (Precision Drilling Trust Announces June 2007 Cash Distribution, Fording Announces 2007 Second Quarter Cash Distribution), I am getting steady $ from my Canadian stocks. I have to believe the strengthening CAD helps me.

I did a brief study on stocks that have doubled. It showed that stocks that do well in both EY (>10%) and ROIC (>100%) have best chance of doubling. I guess that isn't a surprise. I have wondered whether one of the two measures is more important than the other. I probably tend to pick the higher EY stocks as I focus on stocks that have dropped in price. Maybe I should get out that dartboard or use the Rand() function in excel :)

HNR and NPLA - Lessons Learned

In early February I was trying to decide between HNR and EGY. They were both out-of-favor energy stocks that had been on MFI lists for the past year. I took a look at HNR and saw that they did business in Venzuela. Thinking about Hugo Chavez, I quickly opted for EGY.

Since then? EGY is down about 20% and HNR is up 40%.
Q: What does this prove?
A: The best stock pick is not obvious.

NPLA is a stock I have been tracking in my Just Listed Portfolio. When it 1st showed up I thought, "flash in the pan" thinking it didn't have a way to earn $ going forward and that it was a fluke on the list like PTSC.

Since then? Up 124%!
Q: What does this prove?
A: The best stock pick is not obvious.

BTW, in briefing.com they have a segment for stocks of note called "in play". I keep waiting for (ahem) NPLA to be "in play".

Not much news. My portfolio was up nominally. My one Just Listed Stock that I actually bought (CHCG.OB) was up 6% to save the day.

C'est Tout!

Looking Up

Wow, great week. My 1st buy from my Just Listed approach, CHCG.OB is now up over 20%. They had the most excellent news (China 3C Group Signs Agreement with Best Buy ). They were up over 10% at one point today.

The graph is looking up as well, I think I am about 1.5% above the benchmark. Yes indeed, things are looking up.


So far we have 22 (really 21) particpants in the stock picking contest. Hopefully we'll pick up a few more in the next 2 weeks. Here is the status of my current portfolio. I have shifted around my dates a bit so in 2008 I'll be turning over a stock every week or 2. I know this means some stocks I will hold less than the year and others slightly longer. I hope JG will forgive me. I hope all the fathers out there have a nice Father's Day. Enjoy watching the US Open.

Current Portfolio
Stock	Purchase Date	Cost	Current	Gain
TGB	4/16/2007	$2.64	$3.76	42.4%
BBSI	9/6/2006	$19.56	$24.64	27.0%
FDG	3/8/2007	$25.45	$32.17	26.4%
FTO	1/10/2007	$35.16	$43.93	24.9%
ASEI	10/5/2006	$45.85	$56.97	24.3%
TRLG	5/22/2007	$15.54	$19.12	23.0%
ISNS	7/7/2006	$13.17	$15.91	20.8%
CHCG.OB	6/5/2007	$6.10	$7.35	20.5%
KSW	5/10/2007	$6.48	$7.79	20.3%
UNTD	5/1/2007	$14.46	$17.12	19.8%
VPHM	9/11/2006	$11.79	$14.02	18.9%
PDS	3/1/2007	$22.58	$25.88	16.6%
GVHR	4/3/2007	$19.17	$21.93	14.9%
LRCX	6/19/2007	$47.51	$54.02	13.7%
RAIL	2/16/2007	$45.54	$51.01	12.2%
THO	3/26/2007	$40.30	$45.06	12.0%
CREL	2/26/2007	$12.50	$13.99	11.9%
PNCL	2/9/2007	$17.07	$18.94	11.0%
TGIS	11/30/2006	$9.18	$10.18	10.9%
WSTG	5/15/2007	$14.98	$15.95	7.2%
BLDR	9/18/2006	$15.91	$16.95	6.6%
ANF	2/2/2007	$74.81	$77.99	4.5%
JTX	4/9/2007	$28.70	$29.79	3.8%
UG	6/13/2007	$12.07	$12.35	2.3%
NOOF	4/27/2007	$8.59	$8.59	1.4%
SHOO	1/17/2007	$32.36	$32.78	1.3%
DGX	3/17/2007	$52.11	$51.68	-0.6%
VALU	5/29/2007	$44.01	$43.11	-2.0%
AEO	6/26/2007	$28.42	$26.12	-8.1%
PACR	1/3/2007	$28.26	$25.20	-10.3%
IVAC	1/24/2007	$23.52	$19.54	-16.9%
EGY	12/13/2006	$6.42	$4.90	-23.7%
HW	12/27/2006	$24.00	$17.72	-26.2%
Gain/Loss Open Positions ($):				$46,313
Gain/Loss Open Positions (%):				8.7%
Gain/Loss Closed Positions ($):				$36,599
Gain/Loss Closed Positions (%):				11.1%
Total Gain/Loss ($):				$82,912
Benchmark Gain/Loss ($):				$76,523
Annual IRR:				21.2%
Total Gain/Loss (%):				16.7%

Gross Overreaction?

Many pundits say that Bill Gross, the Bond Guru caused interest rates to spike last week as he became less bullish on bonds. That caused the stock market to tumble. James Stewart had a great article (The Market Overreacted to Bill Gross's Caution) saying that the market overreacted as they only read the headline and not what Gross actually said. Typical.

My stocks continue to hold about a 1% lead over the benchmark. I have re-jiggered some of my target sell dates for my portfolio. I have decided I want to structure my portfolio so I have one stock to sell/buy every week to every two weeks. So I have stretched some target sell dates to more than a year and some less than a year to spread them out a bit. Stocks that are still on the list (such as AEO) have been extended. Stocks in a negative position, such as HW or in my IRA, such as PNCL have been compressed. More later.

Doom & Gloom

Wow, pretty depressing day/week/month. A few weeks ago it was Dow 36,000 all over again. "To the Moon!", now it is "stagflation". I don't know, probably neither is right. Jubak still thinks the market will go up for the rest of 2007. While my stocks went down, they didn't go down as much as the averages. My non-MFI portfolio actually went up today. I am sure that'll jinx it.

UG - no it isn't a sound of disgust. It is a stock I think I may add next week to my MFI portfolio. Very interesting company. Small. Yet pays over a 4% dividend. They just had a terrific quarter and are quite bullish for the rest of 2007. Yet what has their stock done in the past 2 weeks? Gone from $13.32 to $11.39. A steal at that price. I will wait until Monday though, my new plan is to add a stock every other week.

AEO announced AH that they're increasing their dividend from 30 cents to 40 cents (American Eagle Outfitters Raises Cash Dividend 33% to Annual Rate of $0.40 Per Share). I think AEO is a great bargain right now at $26.02. You can "bet your bippy" I'll be picking them in the stock contest if they stay there. Speaking of which, we only have 13 entries so far! Please refer to my previous blog for entry info in VSE.

MFI Stock Picking

I have set up the contest online. This will be better for everyone as people can track how they are doing. It will require people though to input their portfolios. Please follow this link:

Use the information and directions below to join the game.

Game ID: MFI_Contest
Game Password: greenblatt

1. Open this link and read the competition summary:
   http://vse.marketwatch.com/Game/StartViewGame.aspx?id=MFI_Contest
2. Click on the 'Join Game' link.
3. If you are an existing Virtual Stock Exchange member, enter your Email address and Password in the login panel and get set to trade. If you are a new user, follow the link to register - it's easy!
4. Follow the instructions and start trading!

Join now, and see if you can win my MFI Stock Contest competition! The more participants the higher the level of competition. Can you master the market?

As a reminder, here are the rules:

1. The contest runs from July 1st through June 30th.
2. Each person picks 15 stocks that are on the MFI lists during June.
3. Dividends will be included.
4. If your stock is sold/bought out during the 12 months, you get no replacement.
5. Winner will get a prize from me. I am thinking about a small trophy that will be engraved with winners name.
6. Monthly updates here on this blog. Real names do not have to be given, though I will need a mailing address for winner.
7. People will have to input their own portfolios.
   

What to Believe?

Markets were certainly spooked this week as bond rates spiked up. A little taste of reality as people all of a sudden realized that inflation is a problem as food and energy prices continue to spike up. If money actually does get tight, all the M&A and private equity will dry up. We'll see if today starts a new leg up, or was a bit of a dead cat bounce on what could be a long summer.

Jubak had a good article today about how food prices are going up as resources are geared towards ethanol. His opinion is that the energy used to grow the corn makes ethanol a so-so prospect, but the govt wants to act like it is doing something (Continue this article). Great.

Even worse, he said he is giving up on HW.

"Recent comments by Federal Reserve Chairman Ben Bernanke are the final straw for me on shares of Headwaters. As of June 8, I'm selling the shares out of Jubak's Picks with a 51% loss since I added them to the portfolio on Feb. 2, 2006. I had planned to hold the shares while the company rode through the slump in the construction sector and until its clean coal and heavy oil technologies had a chance to bear fruit. But I think that Bernanke was right when, on June 5, he said that the housing slump will drag on longer than the Fed had expected at the end of 2006. Late last year, he noted, home sales looked like they had stabilized, but the evidence in 2007 now points to a further decline. That puts earnings from Headwater's core construction materials and business at risk."

I am tempted to sell my shares. It'd be a nice tax write-off. Yikes, 51% pretty much matches my loss as I have held since February 2006.

I don't have my weekly graphs, but I ended up 1% over the benchmark, although it was a negative week all around. Even though today was a great day for the market, my portfolio was just okay. For some reason, none of my stocks went up over 2% today, despite the 150pt move for the Dow.

I did build a template and everything for the contest. Reminder, people do need to send me an email to marsh_gerda@yahoo.com to be entered, not just post a comment on this blog. See prior blog post for details. So far 5 of the 50 spots are filled.

MFI Stock Picking Contest - Update

Several further comments.

I am going to change the time to a year instead of 6 months to match the spirit of the book. I orginally picked 6 months in the event other people wanted to join, they would not have to wait a year. But I would not be able to start a new on in Dec/Jan any way as that is an extremely busy time for me.

Please email your entries to me at marsh_gerda@yahoo.com. Place MFI Stocking Picking Contest in subject line so I can recognize. People should email me 2x, 1st to officially say they want to participate. In that email they should also indicate whether they are okay being on an email list with entire group. The second email, nearer June 30th should have the stock picks.

The format for the picks should simply be a list of stock symbols as defined in Yahoo (so with .PK or .OB as appropriate) and each symbol separated by a comma. So it will look like:

ASPV,AXCA,CWRS,CAW,BPT,DBRN,CHCG.OB,MOT,MRO,PTEN,KG,VALU,UG,TTMI,KFY

I'd ask that each person make some notes on how they made their selections. Could be "random", "all stocks beginning with P or M", "cross section with 2nd screen" etc. But I would like to ask the winner in a year tell everyone how he/she made the picks.

The contest will take closing prices the day before July 1st and run through closing prices of June 30th 2007. I will also track a top 25, top 50 and top 100 portfolio along with Russell 3000 benchmark.

Finally, in a couple of weeks I'll post a list of stocks eligible. It will not be meant to be a comprehensive list, but should have most choices.

MFI Stock Picking Contest

Wake the kids and call the neighbors! I am going to run an MFI stock picking contest if there is enough interest. Here are the rules:

1. The contest runs from July 1st through December 31st.
2. Each person picks 15 stocks that are on the MFI lists during June.
3. Entries should be emailed to marsh_gerda@yahoo.com.
4. Once you send an entry, no changes (will be too hard for me to track).
   
5. I will take the first 50 entries.
6. Dividends will be included.
7. If your stock is sold/bought out during the 6 months, you get no replacement.
8. Winner will get a prize from me. I am thinking about a small trophy that will be engraved with winners name.
9. Monthly updates here on this blog. Real names do not have to be given, though I will need a mailing address for winner.
10. I will post the format I need the entry, invalid formats will not be accepted.
    

Any interest?

Bad Day - Good Day

Probably good to have the market cool off a bit. May was certainly a torrid month. My portfolio had a relatively good day as I picked up a 1/2 pct point on the benchmark. I now lead the benchmark by 1.2%. It is amazing to think that I was 4% behind the benchmark about a month ago.

CHCG is my most recent stock. I bought them on Monday as my firat foray into buying stocks new or relatively new to the 100>1m list. Timing is everything as they spiked up over 13% on this dreary day. It is an interesting company. Here is the 1st paragraph from recent press release (they are based in China):

ZHEJIANG PROVINCE, China, May 14 /PRNewswire-FirstCall/ -- China 3C Group (OTC Bulletin Board: CHCG - News), a rapidly growing retailer and distributor of consumer and business products in China, announced today that revenue for the first quarter of 2007 was $84.5 million versus $13.4 million in the comparable quarter last year, an increase of 530%. Net income for the quarter was $6.5 million, or $0.12 per basic and diluted share, up 607% from $913,548 or $0.02 earnings per share for the same quarter last year.

The numbers are pretty eye-popping. Here is their income statement form past 5 quarters:

	Q1 2007 03/31/07	Q4 2006 12/31/06	Q3 2006 09/30/06	Q2 2006 06/30/06	Q1 2006 03/31/06
Total Revenue	84.523	63.576	42.574	28.618	13.451
Cost of Goods Sold	70.591	53.562	35.970	24.343	11.517
Selling, General and Administrative Expenses	3.726	2.484	1.652	.904	.505
Operating Income Before Depreciation	N/A	7.530	4.952	3.371	1.429
Depreciation & Amortization	--	.007	.005	.004	.004
Operating Income After Depreciation	10.206	7.523	4.947	3.367	1.425

TLBTMTSM focuses on Operating Income after depreciation. Their EY was about 9%. Imagine what it will be if the Q2 2007 is anywhere close to 10m! As you can see, I am excited by their prospects. I was thrilled when they dipped at the end of last week creating a buying opportunity.

AEO had some good news as well today. Their May same store sales were up about 5% and this quarter in total they're up about 18% (American Eagle same-store sales rise 5% in May). I am very bullish on AEO.

PNCL, my high flier from 2006 has been gaining speed as well. Just 2 weeks ago it had dropped to just over $16. Today it closed over $3 higher at $19.29.

NOOF has been in a tail spin since announcing their earnings. For some reason their tax rate was an obscenely (ha-ha) high 46%. Nothing to do but grin and bear it.

One interesting note highlighted by CHCG, is that MFI does have foreign stocks. There is a mis-conception that MFI excludes foreign stocks. I actually subscribe to Global Investing for foreign stock ideas, but I may move away from that and start trying to have 15% of my MFI portfolio in foreign stocks. Hmmm, I keep finding more and more reasons to have more and more of my portfolio in MFI.

Looking at the most recent list, I wonder how many foreign stocks are there?

Top 100 companies with a minimum market cap. of $1 million Companies are listed in alphabetical order
Name (in alphabetical order)	Ticker	Market Cap ($ Millions)	Pre Tax Earnings Yield	Pre Tax Return on Capital	Price From	Most Recent Quarter Data
AMEN Properties Inc	AMEN	13.75	11%	> 100%	06/05	12/31
Aetrium Inc	ATRM	44.87	13%	50 - 75%	06/05	03/31
Alloy Inc	ALOY	148.07	11%	> 100%	06/05	01/31
Amedisys Inc	AMED	977.79	8%	> 100%	06/05	03/31
American Eagle Outfitters Inc.	AEO	5,892.79	12%	75 - 100%	06/05	04/30
AmerisourceBergen Corp	ABC	9,756.61	9%	> 100%	06/05	03/31
Applied Materials Inc.	AMAT	26,624.42	10%	75 - 100%	06/05	04/30
Aventine Renewable Energy Holdings Inc	AVR	715.73	16%	25 - 50%	06/05	03/31
Avici Systems Inc	AVCI	131.76	31%	> 100%	06/05	03/31
Axcan Pharma Inc	AXCA	858.20	11%	> 100%	06/05	03/31
BJ Services Co	BJS	8,909.72	13%	50 - 75%	06/05	03/31
BP Prudhoe Bay Royalty Trust	BPT	1,463.76	12%	> 100%	06/05	03/31
Barrett Business Services Inc	BBSI	281.01	11%	> 100%	06/05	03/31
Best Buy Co. Inc.	BBY	23,129.12	10%	50 - 75%	06/05	02/28
CCA Industries Inc.	CAW	63.94	15%	50 - 75%	06/05	02/28
CLST Holdings Inc	CLHI	54.30	12%	> 100%	06/05	02/28
CRA International Inc	CRAI	524.22	10%	50 - 75%	06/05	02/28
China 3C Group	CHCG	320.75	8%	> 100%	06/05	03/31
Cox Radio Inc.	CXR	1,407.64	9%	> 100%	06/05	03/31
Crown Crafts Inc	CRWS	42.53	19%	50 - 75%	06/05	12/31
Deluxe Corp	DLX	2,260.54	8%	> 100%	06/05	03/31
Domino's Pizza Inc	DPZ	1,241.69	10%	> 100%	06/05	03/31
Encore Wire Corp	WIRE	686.34	23%	25 - 50%	06/05	03/31
ExpressJet Holdings Inc.	XJT	323.09	50%	25 - 50%	06/05	03/31
Exxon Mobil Corp	XOM	474,659.30	12%	50 - 75%	06/05	03/31
FTD Group Inc	FTD	514.57	9%	> 100%	06/05	03/31
Foamex International Inc	FMXL	84.74	56%	25 - 50%	06/05	12/31
Fording Canadian Coal Trust	FDG	4,362.96	11%	75 - 100%	06/05	03/31
Frontier Oil Corp.	FTO	4,646.67	13%	75 - 100%	06/05	03/31
Gannett Co Inc.	GCI	13,974.28	11%	50 - 75%	06/05	03/31
Great Northern Iron Ore Properties	GNI	168.52	9%	> 100%	06/05	12/31
Harley-Davidson Inc.	HOG	15,816.38	10%	50 - 75%	06/05	03/31
Hasbro Inc.	HAS	5,092.10	9%	> 100%	06/05	03/31
Headwaters Inc	HW	776.86	13%	50 - 75%	06/05	03/31
Heidrick & Struggles International Inc	HSII	844.79	8%	> 100%	06/05	03/31
Herbalife Ltd	HLF	2,883.49	9%	> 100%	06/05	03/31
Home Diagnostics Inc	HDIX	198.53	11%	50 - 75%	06/05	03/31
Hudbay Minerals Inc	HBMFF	2,961.02	15%	50 - 75%	06/05	12/31
Hurco Companies Inc	HURC	304.68	10%	50 - 75%	06/05	04/30
IBSG International Inc	IBIN	12.73	36%	25 - 50%	06/05	12/31
Image Sensing Systems Inc	ISNS	58.20	9%	> 100%	06/05	03/31
Imperial Sugar Co	IPSU	320.20	31%	25 - 50%	06/05	03/31
Inplay Technologies Inc	NPLA	17.95	35%	> 100%	06/05	03/31
Intevac Inc	IVAC	412.95	17%	> 100%	06/05	03/31
JAKKS Pacific Inc	JAKK	756.56	14%	75 - 100%	06/05	03/31
K-Swiss Inc	KSWS	1,004.07	12%	75 - 100%	06/05	03/31
Keystone Consolidated Industries Inc.	KYCN	205.50	29%	25 - 50%	06/05	12/31
King Pharmaceuticals Inc.	KG	5,276.71	13%	> 100%	06/05	03/31
Korn/Ferry International	KFY	1,100.89	9%	> 100%	06/05	01/31
Lam Research Corp	LRCX	7,380.61	11%	> 100%	06/05	03/31
Lexmark International Inc.	LXK	4,872.42	12%	50 - 75%	06/05	03/31
MOCON Inc	MOCO	61.83	10%	75 - 100%	06/05	03/31
Mannatech Inc	MTEX	375.44	13%	75 - 100%	06/05	03/31
Marathon Oil Corp	MRO	43,644.32	18%	25 - 50%	06/05	03/31
Metal Management Inc	MM	1,325.62	12%	25 - 50%	06/05	12/31
Methanex Corp	MEOH	2,767.52	27%	25 - 50%	06/05	03/31
Nathan's Famous Inc	NATH	90.04	10%	> 100%	06/05	12/31
New Frontier Media Inc	NOOF	213.78	11%	> 100%	06/05	03/31
Northgate Minerals Corp	NXG	823.43	21%	50 - 75%	06/05	03/31
Nucor Corp	NUE	20,428.38	13%	50 - 75%	06/05	03/31
Optimal Group Inc	OPMR	182.24	9%	> 100%	06/05	03/31
PW Eagle Inc	PWEI	383.24	19%	50 - 75%	06/05	03/31
Pacer International Inc	PACR	954.63	10%	> 100%	06/05	03/31
PainCare Holdings Inc.	PRZ	21.39	18%	50 - 75%	06/05	03/31
Pinnacle Airlines Corp	PNCL	419.21	21%	75 - 100%	06/05	03/31
Pre-Paid Legal Services Inc.	PPD	874.29	10%	> 100%	06/05	03/31
Precision Drilling Trust	PDS	3,313.72	16%	25 - 50%	06/05	12/31
Prestige Brands Holdings Inc	PBH	654.07	9%	> 100%	06/05	03/31
Psychemedics Corp	PMD	99.50	8%	> 100%	06/05	03/31
Quest Diagnostics Inc	DGX	9,415.14	9%	> 100%	06/05	03/31
Rio Narcea Gold Mines Ltd	RNO	861.44	14%	25 - 50%	06/05	03/31
Robert Half International Inc.	RHI	5,848.01	8%	> 100%	06/05	03/31
STEC Inc	STEC	314.19	15%	25 - 50%	06/05	03/31
Select Comfort Corp	SCSS	890.43	9%	> 100%	06/05	03/31
Southern Copper Corp	PCU	27,010.91	12%	75 - 100%	06/05	03/31
Supertex Inc	SUPX	456.75	9%	> 100%	06/05	03/31
Taseko Mines Ltd	TGB	482.98	11%	50 - 75%	06/05	12/31
Teck Cominco Ltd	TCK	18,618.00	20%	75 - 100%	06/05	03/31
Tesoro Corp	TSO	8,624.54	17%	25 - 50%	06/05	03/31
Tiens Biotech Group USA Inc.	TBV	283.20	12%	50 - 75%	06/05	03/31
Timberland Co (The)	TBL	1,708.20	11%	50 - 75%	06/05	12/31
Travelzoo Inc	TZOO	389.18	9%	> 100%	06/05	03/31
True Religion Apparel Inc	TRLG	448.72	10%	> 100%	06/05	03/31
US Physical Therapy Inc	USPH	158.50	9%	50 - 75%	06/05	03/31
USANA Health Sciences Inc	USNA	698.82	10%	> 100%	06/05	03/31
United-Guardian Inc.	UG	64.75	9%	> 100%	06/05	03/31
Universal Compression Partners LP	UCLP	474.63	14%	50 - 75%	06/05	03/31
Utah Medical Products Inc	UTMD	124.73	10%	75 - 100%	06/05	03/31
Vaalco Energy Inc	EGY	293.63	24%	75 - 100%	06/05	03/31
Value Line Inc	VALU	428.63	10%	> 100%	06/05	01/31
Vector Group Ltd	VGR	1,127.29	10%	> 100%	06/05	03/31
Verigy Ltd	VRGY	1,680.14	9%	> 100%	06/05	04/30
Versant Corp	VSNT	83.30	8%	> 100%	06/05	04/30
ViroPharma Inc	VPHM	1,033.62	15%	> 100%	06/05	03/31
Wayside Technology Group	WSTG	74.59	10%	> 100%	06/05	03/31
Western Digital Corp	WDC	4,261.21	12%	50 - 75%	06/05	03/31
Westwood One Inc.	WON	684.07	9%	> 100%	06/05	03/31
Williams Controls Inc	WMCO	125.86	12%	75 - 100%	06/05	03/31
Wpcs International Inc	WPCS	80.19	10%	75 - 100%	06/05	01/31
Xyratex Ltd	XRTX	633.52	11%	50 - 75%	06/05	02/28

Clearly a bunch on Canadian Companies. Off the top of my head: VPHM, TCK, PDS, TGB, NXG, HBMFF, OPMR, AXCA, MEOH and FDG. RNO is Spanish. CHCG is Chinese. VRGY is from Singapore. XRTX is from the UK. PCU might as well be from Peru.

Stay tuned.