Monday, August 31, 2009

New Week - New M&A

While my portfolio wasn't exactly rocketing today, I was heartened to see the M&A activity continue. That bodes very well for value stocks. BJ Services will be acquired by BHI and Marvel is being bought by Disney. BJS was a regular on the lists back in 2007, MVL was on almost all of 2007 and the first part of 2008 (probably until Iron Man came out as there was a lot of debate whether Marvel could make a movie on their own).

I had very little green today, just GME (actually added to the infamous GS conviction list:GameStop shares rise on upgrade), UEPS, BR, FRX and CBI (upgraded by JPM:CB&I upgraded by JP Morgan).

JTX continued their slide down since being downgraded last week by Oppenheimer, dropping from $6.62 to $5.59. UTA is back to $9.80. This stock went briefly above $16 August 10th when they announced their earnings. I have to think $9.80 is a good entry point.

CKSW was the stock that Shyster helped me hold the line on. It seemed great when I bought back in as the stock went up from about $6.70 to $8.30 post their earnings, but they have now slid back to $6.30. I am still very bullish at $6.30.

Finally, I am glad I sold my CSKI at alomst $16 as they've dropped below $13. Another day tomorrow. My buy order for CMFO wasn't filled at $4.30 (went to $4.33), we'll see what happens tomorrow.

A final final thought. When was the last time you used a pager? Me too. Can't remember. That being said, USMO, a stock that is in the pager business keeps cranking out profits, with very little required investment, pays a 7.7% dividend and has gone from $8.4 a year ago to $12.73. What does this tell us? It tells me that people can be premature in writing off a mature technology. On the top 25 list now are ELNK and UNTD. Both companies got their start providing online internet access (as an option to AOL). UNTD hasalso bought FTD along the way. ELNK has a bucket full of cash and just started a dividend that works out to hmmm .56/8.32 = 6.7%. Could one of them be the next USMO, up 40% plus some juicy dividends?

Saturday, August 29, 2009

Where I Stand

Well, I have been at this for about 43 months. Overall I am down about 10%. I have slid back a bit the past several weeks as I had gotten to within 6% of breakeven. I am up 64% in 2009 and 133% from my low point last November. Here are my current stocks:

FSUMF 167%
WILC 130%
CKSW 240%
UEPS 51%
ENDP 36%
QXM 17%
PFE 17%
UTA 27%
BR 25%
FRX 26%
HCKT 15%
AIRV 8%
JTX 8%
CBI 14%
WH 4%
SEPR 4%
RTN 4%
GME 4%
BKE 2%
GTLS 1%
PVSW 0%
CEU -5%
GIGM -5%
BIOC -5%
KHD -23%
CHCG -32%
CMED -22%

For those wanting to follow the mechanical approach, CYTK and JCOM got added to the top 30 portfolio and CYTK and CMFO are new to the top 50 portfolio. I am debating whether to add CMFO to my portfolio this week. They are another new Chinese company to the AMEX, they all seem to have pretty good potential.

This is probably a good time to discuss a book I just finished, "The Little Book for Bull Moves in a Bear Market" by Peter Schiff. It was an interesting read, he is extreme doom and gloom on the US economy. To such an extreme that he says people should consider moving away from the US in the upcoming decade. He preaches investing in gold (he says he thinks it can go to $5,000) and directly in other exchanges (he wants to be away from the US dollar as he thinks it will become grossly devalued and there will be high inflation).

He wrote the book last summer, before Lehman imploded, though he did say it might in his book. While I am not sure it will get quite as austere as he says, it might be irresponsible not to at least consider it. In other countries he says to focus on basic materials and businesses servicing such businnesses (such as utilities). He favors dividend-paying companies with some growth opportunities.

He wants people to stay away from cash and US-denominated bonds. I tried to put together a list of investment ideas after reading the book (VE, SBS, CZZ, CCJ, FSUMF, GG, GLD, AEM, SLB, KF, TWN, GF, CIG, STO, PBR, SDA, WH, CPL, MFD and KHD).

I think if we have a pullback this fall, I may try to move into some of these names and will likely try to keep a substantial part of my MFI in non-US positions (right now: WILC, FSUMF, WH, CMED, CEU, UEPS, CHCG, GIGM, UTA, KHD and QXM). I may move back into CSKI (I sold at $16 post their recent earnings) and as mentioned above may consider CMFO.

Thinking hard about the book, I have to say that KHD is like the perfect stock at under $10. People may want to consider it seriously.

Mechanical Part Deux

I was thinking about my mechanical portfolio approach, which "buys a stock" when it is new to either the top 30 or top 50 list. One problem with that approach is that I only started tracking it back in January 2008. I started to think and I discovered a way to take it back another year, not in a perfect way, but in a reasonable facsimile.

What I did today was looked at my monthly tracking portfolios, which I pull each month and track for a year the top 50 stocks greater than 100m. I took the tracking portfolios starting in January 2007 (a year into the tracking) and considered a stock "new" if it had not been in my tracking portfolios the prior 12 months. Here is a list of how the stocks have done:

Date Stats
1/26/2007 CREL $13.51 $7.97 -41.0%
1/26/2007 SHOO $30.93 $15.70 -49.2%
1/26/2007 TGB $2.58 $3.82 48.1%
1/26/2007 USMO $16.84 $11.82 -29.8%
2/27/2007 AVCI $6.79 $7.31 7.7%
2/27/2007 AXCA $15.92 $23.34 46.6%
2/27/2007 BWLRF.PK$1.63 $1.45 -11.0%
2/27/2007 MFB $18.20 $12.71 -30.2%
2/27/2007 DGX $50.57 $48.43 -4.2%
3/26/2007 ALOY $11.70 $7.65 -34.6%
3/26/2007 IVAC $27.94 $13.82 -50.5%
4/27/2007 ENDP $31.40 $24.80 -21.0%
4/27/2007 FCGI $10.07 $12.99 29.0%
4/27/2007 FTAR.OB $3.87 $5.10 31.8%
4/27/2007 GNI $101.99 $116.50 14.2%
4/27/2007 PDII $9.21 $8.65 -6.1%
4/27/2007 VGR $17.06 $17.23 1.0%
5/29/2007 AMAT $19.03 $19.54 2.7%
5/29/2007 BPT $58.42 $95.76 63.9%
5/29/2007 CHCG.OB $5.74 $1.63 -71.6%
5/29/2007 HURC $47.0 $35.83 -23.8%
5/29/2007 LXK $52.46 $36.54 -30.3%
5/29/2007 SCSS $17.88 $2.67 -85.1%
5/29/2007 SUPX $31.93 $25.60 -19.8%
5/29/2007 TZOO $26.05 $10.64 -59.2%
5/29/2007 UTMD $31.32 $30.25 -3.4%
5/29/2007 WDC $17.98 $36.74 104.3%
7/3/2007 DPZ $18.43 $10.59 -42.5%
7/3/2007 GLBL $27.02 $16.58 -38.6%
7/3/2007 HBMFF.PK$25.29 $13.93 -44.9%
7/3/2007 ICFI $20.71 $16.16 -22.0%
7/3/2007 PBT $11.72 $25.46 117.2%
7/30/2007 ARDNA $126.23 $146.29 15.9%
7/30/2007 HLYS $22.04 $4.75 -78.4%
7/30/2007 MSTR $75.25 $60.11 -20.1%
7/30/2007 SIMG $6.99 $7.40 5.9%
7/30/2007 TBV $3.66 $.95 -74.0%
7/30/2007 WMCO $16.86 $12.39 -26.5%
7/30/2007 BEBE $13.96 $10.22 -26.8%
8/30/2007 GIB $10.48 $10.71 2.2%
8/30/2007 PLTE $20.86 $23.46 12.5%
8/30/2007 FRX $37.59 $35.71 -5.0%
8/30/2007 GYI $31.07 $33.98 9.4%
8/30/2007 MVL $22.44 $33.82 50.7%
8/30/2007 RDYN $6.75 $1.24 -81.6%
8/30/2007 TRB $27.13 $33.98 25.2%
9/27/2007 ARO 66.8%
9/27/2007 ARP $19.01 $17.01 -10.5%
9/27/2007 ABC $44.37 $38.29 -13.7%
9/27/2007 BVSN.OB $2.20 $.69 -68.6%
9/27/2007 HOG $45.39 $40.04 -11.8%
9/27/2007 SAI $18.93 $20.10 6.2%
9/27/2007 HGG $11.39 $9.83 -13.7%
11/2/2007 AMSG $25.66 $24.94 -2.8%
11/2/2007 CUTR $20.75 $8.51 -59.0%
11/2/2007 IAR $23.02 $.38 -98.3%
11/2/2007 LCAV $15.08 $3.42 -77.3%
11/2/2007 MASI $31.89 $31.99 .3%
11/2/2007 MHP $45.50 $26.86 -41.0%
11/2/2007 PMTI $23.95 $11.44 -52.2%
11/2/2007 TRID $6.84 $1.81 -73.5%
11/28/2007 CITP $13.07 $3.13 -76.1%
11/28/2007 CSGS $16.62 $16.33 -1.7%
11/28/2007 PCR $53.65 $17.58 -67.2%
11/28/2007 RHI $25.29 $20.16 -20.3%
12/28/2007 EPAX $17.82 $9.25 -48.1%
12/28/2007 DTPI $6.63 $4.24 -36.0%
12/28/2007 HTRN $4.51 $2.37 -47.5%
12/28/2007 NOVA $4.28 $3.48 -18.7%
1/25/2008 CAST $5.80 $2.59 -55.3%
1/25/2008 LOJN $11.01 $4.16 -62.2%
1/25/2008 LGTY $9.61 $4.50 -53.2%
1/25/2008 PRXI $5.60 $1.04 -81.4%
1/25/2008 SLXP $6.66 $7.96 19.5%
1/25/2008 JCOM $18.97 $18.12 -4.5%
2/26/2008 AFCE $8.14 $3.92 -51.8%
2/26/2008 AIRV $5.0 $5.52 10.4%
2/26/2008 CJR $20.93 $9.58 -54.2%
2/26/2008 GHM $18.68 $7.61 -59.3%
2/26/2008 MMS $37.17 $34.13 -8.2%
2/26/2008 MDP $45.07 $11.28 -75.0%
2/26/2008 NVTL $11.39 $5.75 -49.5%
2/26/2008 RECN $17.13 $13.02 -24.0%
2/26/2008 IUSA $7.84 $2.61 -66.7%
3/24/2008 DEPO $3.0 $2.68 -10.7%
3/24/2008 ELNK $7.93 $6.82 -14.0%
3/24/2008 HIRE $10.58 $19.75 86.7%
3/24/2008 LNCR $28.12 $22.29 -20.7%
3/24/2008 MRX $19.68 $13.06 -33.6%
3/24/2008 OMPI $9.35 $6.06 -35.2%
3/24/2008 BID $29.23 $10.20 -65.1%
3/24/2008 TSRA $15.02 $12.80 -14.8%
3/24/2008 TBI $14.24 $9.05 -36.4%
4/25/2008 AMSWA $5.83 $5.63 -3.4%
4/25/2008 CHE $32.56 $40.91 25.6%
4/25/2008 CHRD $4.82 $3.27 -32.2%
4/25/2008 IDAR.PK $3.59 $.08 -97.7%
4/25/2008 NTRI $18.56 $14.67 -21.0%
4/25/2008 QXM $6.46 $2.73 -57.8%
4/25/2008 SOAP $6.98 $3.68 -47.3%
4/25/2008 TRA $41.34 $27.90 -32.5%
5/28/2008 FTAR.OB $1.24 $.90 -27.4%
5/28/2008 MLHR $23.75 $14.23 -40.1%
5/28/2008 QCOR $5.22 $4.26 -18.4%
5/28/2008 VGR $15.04 $14.65 -2.6%
7/2/2008 AYI $39.91 $28.05 -29.7%
7/2/2008 CALM $30.28 $24.96 -17.6%
7/2/2008 CSKI $11.20 $13.48 20.4%
7/2/2008 PROJ $6.82 $4.34 -36.4%
7/2/2008 HHS $10.50 $9.25 -11.9%
7/2/2008 LRCX $36.46 $26.0 -28.7%
7/2/2008 tpc $27.95 $17.36 -37.9%
7/2/2008 SWIR $13.80 $5.72 -58.6%
7/2/2008 SIGM $14.43 $16.04 11.2%
7/2/2008 SNCR $8.58 $12.27 43.0%
7/2/2008 USNA $26.65 $29.73 11.6%
7/29/2008 APKT $4.92 $10.11 105.5%
7/29/2008 CF $151.81 $79.35 -47.7%
7/29/2008 COH $25.93 $28.05 8.2%
7/29/2008 DBTK $9.96 $8.65 -13.2%
7/29/2008 ZINC $12.04 $10.32 -14.3%
7/29/2008 LO $66.11 $72.0 8.9%
7/29/2008 NVDA $11.65 $13.04 11.9%
7/29/2008 SHFK.PK $27.50 $14.50 -47.3%
7/29/2008 VCLK $11.30 $11.61 2.7%
7/29/2008 VIA-B $29.66 $23.75 -19.9%
7/29/2008 IBAS $3.95 $1.89 -52.2%
8/29/2008 BARE $12.44 $9.56 -23.2%
8/29/2008 EME $34.07 $24.03 -29.5%
8/29/2008 MTW $24.83 $6.71 -73.0%
8/29/2008 PRM $2.60 $2.69 3.5%
8/29/2008 SPSS $31.58 $49.83 57.8%
8/29/2008 SCMP $9.50 $5.92 -37.7%
9/26/2008 EGN $46.31 $43.33 -6.4%
9/26/2008 KBR $16.04 $23.51 46.6%
9/26/2008 KHD $21.80 $9.78 -55.1%
9/26/2008 WFR $29.17 $16.55 -43.3%
9/26/2008 MLNX $9.53 $14.28 49.8%
9/26/2008 MNST $16.68 $16.36 -1.9%
9/26/2008 TTWO $16.16 $10.43 -35.5%
10/31/2008 BKE $25.79 $27.07 5.0%
10/31/2008 CTCM $7.40 $14.01 89.3%
10/31/2008 FWLT $27.40 $29.71 8.4%
10/31/2008 GRMN $21.46 $32.32 50.6%
10/31/2008 KNXA $8.91 $12.72 42.8%
10/31/2008 MSB $13.44 $9.40 -30.1%
10/31/2008 UEPS $14.0 $18.85 34.6%
10/31/2008 ELOS $9.41 $9.70 3.1%
10/31/2008 TSCM $3.91 $2.52 -35.5%
10/31/2008 WBC $18.16 $19.35 6.6%
10/31/2008 WDC $16.47 $34.35 108.6%
11/26/2008 GTLS $8.81 $19.73 124.0%
11/26/2008 FIX $8.29 $11.96 44.3%
11/26/2008 DAR $5.07 $7.22 42.4%
11/26/2008 GIGM $4.79 $4.77 -.4%
11/26/2008 HCKT $2.84 $2.64 -7.0%
11/26/2008 LOOP $6.20 $8.06 30.0%
11/26/2008 MSO $3.42 $6.99 104.4%
11/26/2008 MWW $11.65 $16.36 40.4%
11/26/2008 PRGX $4.79 $5.16 7.7%
11/26/2008 TWLL $5.60 $9.15 63.4%
11/26/2008 TKTM $4.0 $9.88 147.0%
11/26/2008 TRLG $12.81 $23.37 82.4%
12/26/2008 BIDZ $4.70 $3.15 -33.0%
12/26/2008 DELL $10.65 $15.93 49.6%
12/26/2008 ITWO $5.61 $14.78 163.5%
12/26/2008 MAXY $9.16 $6.83 -25.4%
12/26/2008 OPTV $1.17 $1.33 13.7%
12/26/2008 PBT $12.98 $12.08 -6.9%
1/23/2009 ADSK $16.26 $23.92 47.1%
1/23/2009 DHX $2.91 $5.85 101.0%
1/23/2009 MOS $35.39 $49.81 40.7%
1/23/2009 PRO $4.52 $8.14 80.1%
2/27/2009 AOB $3.69 $5.17 40.1%
2/27/2009 DECK $41.27 $69.08 67.4%
2/27/2009 DIVX $4.63 $5.51 19.0%
2/27/2009 FLR $33.03 $53.58 62.2%
2/27/2009 GTI $5.65 $14.61 158.6%
2/27/2009 HPY $5.47 $12.56 129.6%
2/27/2009 IPHS $10.36 $19.63 89.5%
2/27/2009 JOYG $17.27 $39.34 127.8%
2/27/2009 MTXX $17.63 $5.30 -69.9%
2/27/2009 PTIE $4.53 $5.16 13.9%
2/27/2009 QLGC $9.22 $16.07 74.3%
2/27/2009 SAPE $3.83 $7.38 92.7%
2/27/2009 SOLR $4.27 $5.27 23.4%
2/27/2009 TC $3.11 $11.98 285.2%
2/27/2009 VDSI $4.94 $8.63 74.7%
2/27/2009 VLCM $7.96 $14.29 79.5%
3/27/2009 EXBD $14.69 $24.36 65.8%
3/27/2009 MD $29.41 $52.09 77.1%
3/27/2009 QLTI $1.75 $4.24 142.3%
3/27/2009 SRDX $18.89 $23.14 22.5%
4/24/2009 ARP $5.44 $9.30 71.0%
4/24/2009 CRAI $21.99 $28.12 27.9%
4/24/2009 GNI $77.02 $90.18 17.1%
4/24/2009 INFI $5.97 $7.22 20.9%
4/24/2009 TYPE $4.03 $8.13 101.7%
4/24/2009 NOV $31.50 $37.23 18.2%
4/24/2009 PFE $12.89 $16.81 30.4%
5/29/2009 AMED $30.43 $45.08 48.1%
5/29/2009 BR $16.49 $20.60 24.9%
5/29/2009 CRAY $4.30 $7.38 71.6%
5/29/2009 JTX $3.97 $5.90 48.6%
5/29/2009 ASGN $3.57 $4.29 20.2%
5/29/2009 TWX $23.27 $28.33 21.7%
5/29/2009 UTA $7.90 $10.06 27.3%
5/29/2009 INT $42.36 $46.75 10.4%
6/29/2009 DISH $16.10 $16.86 4.7%
6/29/2009 DRC $25.96 $30.80 18.6%
6/29/2009 GME $22.17 $23.47 5.9%
6/29/2009 IILG $9.26 $11.0 18.8%
6/29/2009 VM $4.08 $4.82 18.1%
7/29/2009 AHCI $2.39 $2.57 7.5%
7/29/2009 GIB $9.74 $10.36 6.4%
7/29/2009 CBI $13.42 $15.51 15.6%
7/29/2009 CBEH $6.05 $6.84 13.1%
7/29/2009 HRS $31.61 $35.04 10.9%
7/29/2009 NPSP $3.99 $4.22 5.8%
7/29/2009 RTN $46.57 $47.32 1.6%
7/29/2009 SHAW $28.47 $30.87 8.4%
7/29/2009 WTW $27.03 $27.66 2.3%
7/29/2009 WG $13.61 $12.92 -5.1%
8/28/2009 BBND $3.97 $3.97 .0%
8/28/2009 CEU $5.15 $5.15 .0%
8/28/2009 CMFO $4.55 $4.55 .0%
8/28/2009 CYTK $3.04 $3.04 .0%
8/28/2009 KNDL $13.22 $13.22 .0%
8/28/2009 LHCG $24.72 $24.72 .0%
8/28/2009 PRIM $7.04 $7.04 .0%
8/28/2009 SEPR $18.59 $18.59 .0%

Obviously the ones at the very bottom are new to my portfolio I am just starting. Then here is a comparison of how the mechanicals have done against the Russell 3000 and the broader MFI portfolio month by month:

Average of Percent Change




Date Total IWV Broader MFI Beat Russell Beat Broad
1/26/2007 -18.0% -6.6% -10.2% 0 0
2/27/2007 1.8% -1.0% -3.7% 1 1
3/26/2007 -42.6% -5.5% -9.8% 0 0
4/27/2007 8.2% -5.0% -10.9% 1 1
5/29/2007 -12.2% -6.3% -11.5% 0 0
7/3/2007 -6.2% -15.6% -30.0% 1 1
7/30/2007 -29.2% -11.5% -19.9% 0 0
8/30/2007 1.9% -8.7% -12.5% 1 1
9/27/2007 -6.5% -18.2% -19.0% 1 1
11/2/2007 -50.5% -34.3% -40.4% 0 0
11/28/2007 -41.3% -38.3% -40.1% 0 0
12/28/2007 -37.6% -40.0% -36.3% 1 0
1/25/2008 -39.5% -35.9% -36.4% 0 0
2/26/2008 -42.0% -36.8% -51.7% 0 1
3/24/2008 -16.0% -35.6% -40.9% 1 1
4/25/2008 -33.3% -34.4% -25.6% 1 0
5/28/2008 -22.1% -33.6% -22.2% 1 1
7/2/2008 -12.2% -25.3% -11.7% 1 0
7/29/2008 -5.2% -16.3% -10.5% 1 1
8/29/2008 -17.0% -17.9% -13.8% 1 0
9/26/2008 -6.5% -13.1% -8.5% 1 1
10/31/2008 25.8% 9.9% 17.8% 1 1
11/26/2008 56.5% 20.6% 43.3% 1 1
12/26/2008 26.9% 21.7% 36.5% 1 0
1/23/2009 67.2% 27.2% 46.6% 1 1
2/27/2009 79.2% 43.1% 74.4% 1 1
3/27/2009 76.9% 28.7% 50.5% 1 1
4/24/2009 41.0% 20.3% 29.7% 1 1
5/29/2009 34.1% 12.6% 18.0% 1 1
6/29/2009 13.2% 11.8% 12.8% 1 1
7/29/2009 6.6% 5.7% 6.1% 1 1
8/28/2009 0.0% 0.0% 0.0% 0 1
Grand Total 4.3% -7.4% -4.1% 1 1

So 20 of the 32 tracking months, the mechanical approach has beaten the broader MFI approach. In addition, it is up an average of 4.3% per month year while the broader MFI is down 4.1% and Russell 3000 is down 7.4%.

Convinced?

Friday, August 28, 2009

Further Thoughts on UEPS

I did read the UEPS conference call transcript (Net1 UEPS Technologies, Inc. F4Q09 (Qtr End 6/30/09) Earnings Call Transcript). All-in-all I was impresssed. Management seems savvy and has a lot of irons in the fire. The risk to the company is they seem to have a contract with the Govt of South Africa and it would hurt to lose that. But there is also some real strong upside as they may partner with Mastercard and they also are making inroads in Ghana and Iraq.

While they expect earnings per share to grow by 20% in 2010, half of that is coming from reduced share count.

All-in-all, it wasn't a great week for the old portfolio. I'll publish the graphs etc over the weekend. Not a disaster mind you, but I am giving back some of my ground over the bencmark and I can't seem to close the final gap to get to break-even. I'm thrilled with my current approach and how far the portfolio has come this year (up about 66%). Hopefully we'll get over the hump in 2009.

Current Top 30 Mechanical Portfolio

Here is my current Mechanical Top 30 Portfolio. As a reminder, a stock gets added to the list if it hasn't been in the top 30 greater than $50m in the past 52 weeks. When it gets added, I hold it for a year. At the same time, I add a S&P 500 etf to track relative performance. I manually update for dividends, though it is possible I miss a few. As you can see at the bottom, the mechanical is trouncing the benchmark. I have been using this tacking approach since late January 2008.

Symbol
Original Current Dividend S&P O S&P D Stock Chg S&P Chg Diff
EGMI.OB 9/6/08 0.69 1.48 - 124.42 2.49 114.5% -14.9% 129.4%
KHD 9/13/08 20.68 9.78 - 126.09 2.49 -52.7% -16.0% -36.7%
TTWO 9/20/08 16.57 10.43 - 124.12 2.49 -37.1% -14.7% -22.3%
SCMP 9/26/08 8.29 5.92 - 120.85 1.80 -28.6% -13.0% -15.6%
DTLK 9/26/08 4.34 3.46 - 120.85 1.80 -20.3% -13.0% -7.3%
TRA 9/26/08 28.42 32.12 0.30 120.85 1.80 14.1% -13.0% 27.0%
MSB 10/10/08 10.12 9.40 0.40 88.50 1.80 -3.2% 18.8% -22.0%
UEPS 10/10/08 14.58 18.85 - 88.50 1.80 29.3% 18.8% 10.4%
TSCM 10/17/08 3.67 2.52 0.03 93.21 1.80 -30.7% 12.8% -43.5%
EME 11/1/08 17.77 24.03 - 96.83 1.80 35.2% 8.6% 26.6%
CTCM 11/1/08 7.40 14.01 - 96.83 1.80 89.3% 8.6% 80.7%
PRGX 11/1/08 4.24 5.16 - 96.83 1.80 21.7% 8.6% 13.1%
HLF 11/7/08 20.17 30.72 0.40 93.86 1.80 54.3% 12.1% 42.2%
GHM 11/7/08 13.60 14.11 0.02 93.86 1.80 3.9% 12.1% -8.2%
BIDZ 11/22/08 2.39 3.15 - 79.52 1.80 31.8% 32.3% -0.5%
KBR 11/22/08 10.45 23.51 0.10 79.52 1.80 125.9% 32.3% 93.7%
OPTV 11/22/08 0.94 1.33 - 79.52 1.80 41.5% 32.3% 9.2%
IBAS 11/22/08 1.21 2.30 - 79.52 1.80 90.1% 32.3% 57.8%
Vclk 11/29/08 6.17 10.51 - 90.09 1.80 70.3% 16.7% 53.6%
DIVX 12/8/08 4.37 5.51 - 87.93 1.80 26.1% 19.6% 6.5%
MAXY 12/8/08 5.80 6.83 - 87.93 1.80 17.8% 19.6% -1.9%
ESIC 12/13/08 1.13 1.74 - 88.99 1.80 54.0% 18.2% 35.8%
MSO 12/27/08 2.80 6.99 - 87.16 1.08 149.6% 19.8% 129.8%
TRMS 12/27/08 1.03 2.47 - 87.16 1.08 139.8% 19.8% 120.0%
WFR 12/27/08 13.43 16.55 - 87.16 1.08 23.2% 19.8% 3.4%
AHCI 1/3/09 1.15 2.57 - 92.96 1.08 123.5% 12.4% 111.1%
CKSW 1/3/09 1.99 6.76 - 92.96 1.08 239.7% 12.4% 227.3%
COH 2/14/09 13.97 29.27 - 82.76 1.08 109.5% 26.2% 83.3%
DELL 2/21/09 8.41 15.93 - 77.42 1.08 89.4% 34.9% 54.5%
SOLR 2/21/09 4.22 5.27 - 77.42 1.08 24.9% 34.9% -10.0%
DECK 2/28/09 41.27 69.08 - 73.93 1.08 67.4% 41.3% 26.1%
FWLT 2/28/09 15.04 29.71 - 73.93 1.08 97.5% 41.3% 56.2%
HCKT 2/28/09 2.56 2.64 - 73.93 1.08 3.1% 41.3% -38.2%
MWW 2/28/09 6.59 16.36 - 73.93 1.08 148.3% 41.3% 107.0%
PTIE 2/28/09 4.53 5.16 - 73.93 1.08 13.9% 41.3% -27.4%
TRLG 2/28/09 10.22 23.37 - 73.93 1.08 128.7% 41.3% 87.4%
qlti 3/6/09 1.41 4.24 - 68.92 1.08 200.7% 51.6% 149.1%
exbd 3/6/09 12.96 24.36 0.44 68.92 1.08 91.4% 51.6% 39.8%
FIX 3/13/09 9.73 11.96
76.09 1.08 22.9% 37.3% -14.4%
DBTK 3/13/09 6.65 8.78 - 76.09 1.08 32.0% 37.3% -5.3%
LOOP 3/13/09 5.77 8.06 - 76.09 1.08 39.7% 37.3% 2.4%
PRO 3/27/09 4.29 8.14 - 81.61 0.52 89.7% 27.3% 62.4%
ACN 4/9/09 27.71 34.20 - 85.81 0.52 23.4% 21.1% 2.3%
INFI 4/16/09 5.83 7.22 - 87.08 0.52 23.8% 19.3% 4.5%
TSRA 5/1/09 14.52 25.06 - 87.89 0.52 72.6% 18.2% 54.4%
RST 5/1/09 29.83 22.58 - 87.89 0.52 -24.3% 18.2% -42.5%
ULCM.pk 5/1/09 2.18 2.25 - 87.89 0.52 3.2% 18.2% -15.0%
TYPE 5/1/09 3.80 8.13 - 87.89 0.52 113.9% 18.2% 95.7%
CRAY 5/1/09 3.98 7.38 - 87.89 0.52 85.4% 18.2% 67.2%
INT 5/8/09 41.90 46.75 - 92.98 0.52 11.6% 11.7% -0.2%
IPHS 5/15/09 15.03 19.63 - 88.71 0.52 30.6% 17.1% 13.5%
GNI 5/29/09 86.75 90.18 1.80 92.53 0.52 6.0% 12.3% -6.3%
UTA 5/29/09 7.90 10.06 - 92.53 0.52 27.3% 12.3% 15.1%
FRX 6/5/09 23.66 29.11 - 94.55 0.52 23.0% 9.9% 13.1%
ONTY 6/11/09 2.60 5.58 - 95.08 0.52 114.6% 9.3% 105.3%
VM 6/11/09 4.24 4.82 - 95.08 0.52 13.7% 9.3% 4.4%
BPI 6/19/09 16.74 18.51 - 92.04 - 10.6% 12.3% -1.7%
MTXX 7/2/09 5.77 5.30 - 91.84 - -8.1% 12.6% -20.7%
JTX 7/2/09 5.74 5.90 - 91.84 - 2.8% 12.6% -9.8%
GIGM 7/24/09 4.98 4.77 - 98.06 - -4.2% 5.4% -9.6%
CBI 7/31/09 13.95 15.51 - 98.81 - 11.2% 4.6% 6.6%
BR 7/31/09 17.27 20.60 - 98.81 - 19.3% 4.6% 14.7%
LO 7/31/09 73.72 72.13 - 98.81 - -2.2% 4.6% -6.8%
ITWO 8/7/09 14.36 14.78 - 101.20 - 2.9% 2.2% 0.8%
BKE 8/14/09 26.54 27.07 - 100.79 - 2.0% 2.6% -0.6%
GTLS 8/14/09 20.73 19.73 - 100.79 - -4.8% 2.6% -7.4%
PRIM 8/14/09 6.95 7.04 - 100.79 - 1.3% 2.6% -1.3%
SEPR 8/14/09 18.12 18.59 - 100.79 - 2.6% 2.6% 0.0%
PVSW 8/14/09 5.00 4.95 - 100.79 - -1.0% 2.6% -3.6%
CEU 8/21/09 5.10 5.15 - 102.96 - 1.0% 0.4% 0.6%
















Totals 23.3% 0.6% 22.8%
66.7% of stocks beat the S&P 500 Benchmark
Closed -18.0% -32.8% 14.8%
S&P C

103.38

Open 43.4% 16.8% 26.7%