TTT + KWG = KHD

I woke up this morning to find that KHD had disappeared from all my stock screens. On Monday it had closed at 14.90, on Tuesday 14.05 and then today... *poof*. I did see in my Fidelity account an equal number of shares of TTT replacing the KHD. It opened at a much lower price: $12.60. was I out $1.40 a share? Well, the good news is that despite the low open, it closed at $13.15. But I decided to do a little sleuthing to see what else I could find. Here are the particulars:

First Tranche Summary and Time Line

•

Receive one (1) KID share for every three and half (3½) KHD shares (calculated after a 2 for 1 forward split, subject to KID shareholder approval).

•

Additional distributions of KID shares expected by the end of the year.

•

Initial percentage of KID shares distributed 26%

•

Shareholders meeting date for approval March 29, 2010

•

Ex- dividend date March 30, 2010

•

Distribution date of shares March 31, 2010

•

Listing date for KID shares on the Frankfurt Stock Exchange March 31, 2010

•

Stock Symbol KWG.F

So suppose you had 1,000 shares on Monday, worth $14,900. Today you would have 1,000 shares of the new stock, TTT (worth 13,150) and (if I understand it correctly, 1 share of KWG.F for every 7 shares I had of KHD. So that works out to about 280 shares of KWG.F. That trades on the Frankfurt exchange, though they have promised an ADR that trades on US exchanges. They closed at 5.45 euros per share or about $7.35. That works out to about $2,050. If I understand everything correctly, I am actually better off than Monday (not that I had the 1,00 shares) at $15,200 vs the 14,900.

There are still a couple points I do not understand. It mentions an ex dividend date of March 30th. What dividend are they talking about? Is that a stock dividend, getting the KWG? Is there an actual dividend, which might explain the 90 cent drop on Tuesday? I dunno.

The second point, which I find intriguing is that they expect additional distributions of KID (KWG) before the end of the year. Additional sounds good! Anyway, I am not sure how I will work all this complexity into my MFI worksheets... I suspect at the least KHD will turn into TTT. And I will need to add in the KWG part. I am excited by the split and plan to hold all my shares firmly. Not sure if it'll renew for me as "mfi"... but that is only bookkeeping.

Then two quickies: QKLS (I know I said quickie!) announced they will be taking another two weeks to report earnings. It is their first time, so I assume they forgot to dot an i, but it may impact the stock tomorrow (QKL Stores Inc. Postpones Earnings Release Date for Fourth Quarter and Full Year 2009 Financial Results).

Then SHE had an extremely bullish report (granted by someone who owns the stock) which I found hopeful (Shedding Light on SHE: China Watch). I will try and be disciplined and not back up the truck.

Oh two more as long as I am on China. UTA gave bullish updated guidance (Universal Travel Group Completes Previously Announced Acquisitions and Updates Guidance) this is one cheap stock. And then LIWA had a most excellent quarter and says 2010 will be 40% better (Lihua International Reports Fourth Quarter and Full-Year 2009 Financial Results). At some point this stock will begin appearing on the screens.

Here is my estimate of LIWA stats:

		liwa
+	Operating Income After Depreciation	30.52
-	Minority Interest - Income Account	-
=	Income for Calculation	30.52
	Diluted Shares Outstanding	23.792
	Share Price	9.18
+	Market Cap Calc	218.41
+	Preferred Capital	-
+	Debt in Current Liabilities	4.39
+	Long-Term Debt	-
	Cash and Short-Term Investments	34.00
-	Excess Cash	34.00
=	Enterprise Value	188.80
+	Property Plant and Equipment - Net	16.85
+	Receivables	7.92
+	Inventories	12.68
+	Other Current Assests	0.18
+	Working Cash	-
-	Accounts Payable	5.25
-	Current Liabilities - Other	0.78
=	Invested Capital	31.61
	Earnings Yield	16%
	ROIC	97%

March 2009 Monthly Tracking Portfolio

The March 2009 Monthly tracking portfolio came to full vintage this weekend. Here are the 50 stocks in descending order:

	Data
Stock	Start Price	Final Price	Pct Change
BARE	4.36	18.50	324.3%
CTCM	4.66	16.37	251.3%
MSB	7.20	23.25	222.9%
QLTI	1.75	5.26	200.6%
VPHM	4.84	14.11	191.5%
HLF	15.44	44.62	189.0%
HPY	6.61	17.68	167.5%
DHX	2.78	7.21	159.4%
deck	53.24	137.73	158.7%
IPHS	10.58	27.14	156.5%
GTLS	8.10	20.55	153.7%
trlg	12.12	29.62	144.4%
COH	17.35	40.31	132.3%
PRO	4.29	9.71	126.3%
SWIR	3.87	8.40	117.1%
KHD	6.94	14.95	115.4%
DLX	9.42	19.72	109.3%
MD	29.41	57.45	95.3%
MWW	8.67	16.91	95.0%
KFY	9.26	17.87	93.0%
TRA	23.82	45.96	92.9%
LOOP	6.11	11.45	87.4%
EXBD	14.56	26.95	85.1%
AYI	23.20	41.56	79.1%
PACR	3.33	5.93	78.1%
QCOR	4.70	7.85	67.0%
DIVX	4.56	7.47	63.8%
HSII	17.13	27.70	61.7%
MLHR	11.35	18.29	61.1%
KBR	14.56	22.09	51.7%
DELL	9.95	14.99	50.7%
FWLT	18.06	26.91	49.0%
PTIE	4.33	6.40	47.8%
FRX	21.75	31.08	42.9%
EME	17.76	25.10	41.3%
DBTK	6.52	8.84	35.6%
ENDP	17.34	23.39	34.9%
ELNK	6.39	8.36	30.8%
PPD	28.98	37.61	29.8%
CF	72.95	93.17	27.7%
VCLK	8.08	9.87	22.2%
NTRI	14.02	17.10	22.0%
CSKI	13.27	15.33	15.5%
FIX	10.76	12.36	14.9%
SRDX	18.89	21.19	12.2%
QXM	2.21	2.25	1.8%
EGY	5.39	4.65	-13.7%
SOLR	6.64	5.37	-19.1%
WFR	18.38	14.68	-20.1%
MTXX	16.34	5.07	-69.0%
Grand Total	662.22	1,146.33	85.8%

The 85.8% was terrific compared to about 48% for the Russell 3000. Not sure if anyone cares, but here are the 50 stocks for the March 2010 portfolio (it started Friday morning due to a glitch):

Stock	Start Price	Final Price	Pct Change
SOLR	5.11	5.37	5.1%
XOMA	0.57	0.60	5.1%
CF	90.03	93.17	3.5%
SNTS	4.88	4.97	1.8%
HRB	17.36	17.68	1.8%
CNU	3.91	3.98	1.8%
SHE	8.07	8.20	1.6%
CBPO	11.35	11.50	1.3%
GME	21.78	22.00	1.0%
deck	136.46	137.73	0.9%
SMED	6.90	6.96	0.9%
SAI	19.10	19.26	0.8%
EPAX	11.02	11.09	0.6%
VGR	15.34	15.42	0.5%
WTW	25.60	25.72	0.5%
DLX	19.63	19.72	0.5%
CBI	23.26	23.35	0.4%
PPD	37.50	37.61	0.3%
RAI	53.57	53.72	0.3%
PRGX	5.99	6.00	0.2%
USMO	12.78	12.80	0.2%
CSKI	15.31	15.33	0.1%
UEPS	18.21	18.23	0.1%
FLR	46.22	46.26	0.1%
RTN	57.26	57.29	0.1%
ENDP	23.38	23.39	0.0%
ARO	28.59	28.60	0.0%
QKLS	5.90	5.90	0.0%
CEU	5.38	5.38	0.0%
PRSC	15.71	15.65	-0.4%
FRX	31.22	31.08	-0.4%
LO	76.37	76.00	-0.5%
CHKE	18.16	18.06	-0.6%
PDLI	6.41	6.37	-0.6%
SNTA	4.56	4.53	-0.7%
RGR	12.64	12.54	-0.8%
IDCC	27.96	27.73	-0.8%
JCOM	23.32	23.09	-1.0%
ELNK	8.45	8.36	-1.1%
QDEL	13.90	13.73	-1.2%
FWLT	27.25	26.91	-1.2%
VCLK	10.00	9.87	-1.3%
IMMU	3.46	3.41	-1.4%
EME	25.47	25.10	-1.5%
UIS	36.22	35.69	-1.5%
UNTD	7.65	7.53	-1.6%
TSRA	20.68	20.30	-1.8%
APOL	62.43	61.28	-1.8%
SPMD	40.31	39.36	-2.4%
amed	57.33	55.29	-3.6%
Grand Total	1,259.96	1,259.11	0.1%

Now I know I have a multitude of mechanical portfolios running a muck:

1. Mechanical top 30 - new stocks to top 30 in past 52 weeks
2. Mechanical top 50 - new stocks to top 50 in past 52 weeks
3. My mechanical portfolio - this is my buying stocks new to mechanical portfolios for my actual portfolio, hard to replicate exactly for me.
4. A mechanical version of my Monthly tracking portfolios - if the stock is new to the monthly tracking portfolios in past 12 months, it is added.

All the mechanical approaches have outperformed. Since we're talking the tracking portfolios, this back test goes back to January 2006, though it didn't become "mature" until January 2007. If you used a mechanical approach with my tracking portfolios (and it is a bit different as I assume dollars from a year ago roll forward, while my portfolios #1 and #2 above will put more $ to work if more stocks are available) here would be the following standings with an initial $100,000 investment:

Russell 3000: $98,924
Standard MFI: $106,268
Mechanical MFI Tracking: $116,433

As a benchmark my real life MFI portfolio, which had its initial funding spread out over 18 months, which was worse than getting it all in first 12 months would be
My Portfolio: $102,987

Not earth-shattering differences but there you have it.

So you may ask, what are the new and exciting stocks being added in March 2010?
QKLS, QDEL, SNTS and PRSC.

CBPO Reports

All the smaller cap Chinese stocks are starting to pour in. I saw the CCME reported today and was up about 14%. They were one of my picks in my Chinese stock cruncher blog I ran on January 24th. They were $12.80 then and are now 14.70 after blow out earnings.

CBPO released their 10K today (I have not seen a press release yet). Recall CBPO fell on hard times on January 26th when a blog started a rumor that they had felons running/associated with the company. They dropped from 11.76 to 8.71 that day. I bought additional shares the next day, so I was waiting with anticipation to see their earnings.

I wasn't sure what to make of them. They had very good operating earnings (the basis for MFI) and strong revenues. However, they had some substantial losses to what appeared to be investments/derivative products.

                         Fiscal Years Ended December 31

                                                                     $          Percentage
                                                                 Increase        Increase
                                   2009            2008         (Decrease)      (Decrease)
Revenue                       $  118,998,155   $  46,751,160   $  72,246,995         154.5%
Cost of revenue                   32,621,908      14,040,602      18,581,306         132.3%
Gross profit                      86,376,247      32,710,558      53,665,689         164.1%
Gross profit as a                      72.6%           70.0%            2.6%
percentage of revenue
Operating expenses                24,999,055      12,374,787      12,624,268         102.0%
Other expense                     33,250,706         449,656      32,801,050        7294.7%
Income before taxes and           28,126,486      19,886,115       8,240,371          41.4%
minority interest
Income taxes                      10,513,100       4,596,603       5,916,497         128.7%
Net income before minority    $   17,613,386   $  15,289,512   $   2,323,874          15.2%

Note the 33m in the other expense row. As an owner, I certainly want additional information on what that represents.

We'll see what kind of guidance they give and what the stock market does to them tomorrow.

CMFO Reports

I thought CMFO reported great earnings yesterday morning (China Marine Food Group Limited Reports Record Results for its Fourth Quarter and Fiscal Year 2009, Company Exceeds 2009 Guidance), but it got a great ho-hum from the market. This maker of seafood snacks (mmmm) had

• 4q09 o 4q08 +85%
• 2009 0 2008 +43%
• 60 cents per share in 2009
• acquisition 1/1/10 of Shishi Xianghe Food Science and Technology Co., Ltd for essentially forgiving a 14m loan.
• Guidance of +43% in revenues for 2010 and +33% income

On the negative side, we did have some dilution as CMFO raised capital going from 24.3m shares to about 29m. They needed some extra cash after their acquisitions. All this being said, I suspect that CMFO will be a borderline MFI stock right now, not sure they will return to the list (I am up 53% with them).

Finally, here is a quick update of the Mechanical top 50 portfolio. The performance gap on open stocks is starting to close.

Symbol		Original	Current	Dividend	S&P O	S&P D	Stock Chg	S&P Chg	Diff
INFI	4/16/09	5.83	6.29	-	87.08	1.62	7.9%	35.7%	-27.9%
CRAY	5/1/09	3.98	6.16	-	87.89	1.62	54.8%	34.5%	20.3%
TWX	5/1/09	22.84	31.28	-	87.89	1.62	37.0%	34.5%	2.5%
RST	5/1/09	29.83	25.98	-	87.89	1.62	-12.9%	34.5%	-47.4%
ulcm	5/1/09	8.72	9.95	-	87.89	1.62	14.0%	34.5%	-20.4%
AAV	5/15/09	3.41	7.05	-	88.71	1.62	106.7%	33.3%	73.5%
AMED	5/29/09	30.43	61.53	-	92.53	1.62	102.2%	27.8%	74.5%
UTA	5/29/09	7.90	8.99	-	92.53	1.62	13.8%	27.8%	-14.0%
PFE	6/5/09	14.51	17.15	-	94.55	1.62	18.2%	25.0%	-6.8%
VM	6/5/09	4.55	5.50	-	94.55	1.62	20.9%	25.0%	-4.1%
ONTY	6/11/09	2.60	4.78	-	95.08	1.62	83.8%	24.3%	59.5%
BPI	6/19/09	16.74	24.49	-	92.04	1.10	46.3%	27.9%	18.4%
GME	6/19/09	22.95	21.60	-	92.04	1.10	-5.9%	27.9%	-33.8%
SHAW	7/10/09	23.69	35.02	-	87.96	1.10	47.8%	33.8%	14.0%
RTN	7/24/09	45.39	57.09	0.62	98.06	1.10	27.1%	20.0%	7.1%
CBZ	7/31/09	6.54	6.65	-	98.81	1.10	1.7%	19.1%	-17.4%
CBI	7/31/09	13.95	23.35	-	98.81	1.10	67.4%	19.1%	48.3%
DRC	7/31/09	29.11	31.71	-	98.81	1.10	8.9%	19.1%	-10.2%
JEC	7/31/09	40.98	43.40	-	98.81	1.10	5.9%	19.1%	-13.2%
NPSP	7/31/09	3.89	3.98	-	98.81	1.10	2.3%	19.1%	-16.8%
ASGN	7/31/09	4.23	7.67	-	98.81	1.10	81.3%	19.1%	62.2%
AGX	8/7/09	12.35	14.07	-	98.81	1.10	13.9%	19.1%	-5.2%
BBND	8/7/09	4.00	3.33	-	98.81	1.10	-16.8%	19.1%	-35.9%
LHCG	8/7/09	24.55	34.62	-	98.81	1.10	41.0%	19.1%	21.9%
RGR	8/7/09	11.45	12.56	-	98.81	1.10	9.7%	19.1%	-9.4%
PRIM	8/7/09	6.95	8.15	0.05	100.79	1.10	18.0%	16.8%	1.2%
SEPR	8/7/09	18.12	23.00	-	100.79	1.10	26.9%	16.8%	10.2%
CEU	8/21/09	5.10	5.55	-	102.96	1.10	8.8%	14.3%	-5.5%
CYTK	8/21/09	3.04	3.39	-	102.96	1.10	11.5%	14.3%	-2.8%
CMFO	8/28/09	4.55	6.56	-	102.96	1.10	44.2%	14.3%	29.9%
NAVR	9/4/09	1.79	1.95	-	102.60	1.10	8.9%	14.7%	-5.8%
WTW	9/11/09	26.00	25.57	0.35	104.77	1.10	-0.3%	12.3%	-12.6%
MIPS	9/18/09	3.72	4.23	-	106.72	1.10	13.7%	10.3%	3.4%
ESI	10/30/09	90.35	115.22	-	103.56	0.59	27.5%	13.2%	14.4%
VRSK	10/30/09	27.43	28.20	-	103.56	0.59	2.8%	13.2%	-10.3%
APOL	11/6/09	55.99	64.47	-	107.13	0.59	15.1%	9.4%	5.8%
CBST	11/6/09	17.60	22.99	-	107.13	0.59	30.6%	9.4%	21.2%
SNTA	11/6/09	3.20	4.62	-	107.13	0.59	44.4%	9.4%	35.0%
IMMU	11/6/09	3.61	3.52	-	107.13	0.59	-2.5%	9.4%	-11.9%
PBH	11/13/09	6.95	8.93	-	109.62	0.59	28.5%	6.9%	21.6%
IDCC	11/20/09	23.56	27.71	-	109.43	0.59	17.6%	7.1%	10.5%
PDLI	11/27/09	6.63	6.56	-	109.57	0.59	-1.1%	6.9%	-8.0%
CBPO	12/4/09	9.06	9.17	-	111.01	0.59	1.2%	5.6%	-4.3%
XOMA	12/4/09	0.72	0.54	-	111.01	0.59	-25.2%	5.6%	-30.8%
SHE	12/31/09	5.15	8.33	-	111.44	-	61.7%	4.6%	57.1%
RAI	1/15/10	53.81	53.73	-	113.64	-	-0.1%	2.6%	-2.7%
TRMS	1/15/10	2.45	2.47	-	113.64	-	0.8%	2.6%	-1.8%
SAI	1/15/10	18.90	19.43	-	113.64	-	2.8%	2.6%	0.2%
NATH	1/28/10	14.70	15.78	-	108.57	-	7.3%	7.4%	0.0%
SMED	2/5/10	6.74	6.61	-	106.66	-	-1.9%	9.3%	-11.2%
SPMD	2/5/10	36.63	41.16	-	106.66	-	12.4%	9.3%	3.1%
UIS	2/5/10	34.25	37.41	-	106.66	-	9.2%	9.3%	-0.1%
QKLS	2/12/10	5.69	5.20	-	108.04	-	-8.6%	7.9%	-16.5%
MGIC	2/12/10	1.78	2.59	-	108.04	-	45.5%	7.9%	37.6%
ESIC	2/19/10	2.07	2.11	-	111.14	-	1.9%	4.9%	-3.0%
ODSY	2/19/10	17.89	19.09	-	111.14	-	6.7%	4.9%	1.8%
HRB	2/26/10	17.28	17.13	-	110.74	-	-0.9%	5.3%	-6.2%
TNDM	2/26/10	16.12	18.37	-	110.74	-	14.0%	5.3%	8.7%
DEXO	2/26/10	29.80	26.42	-	110.74	-	-11.3%	5.3%	-16.6%
AFAM	3/5/10	35.52	38.45	-	114.25	-	8.2%	2.1%	6.2%
DNB	3/5/10	69.95	74.92	-	114.25	-	7.1%	2.1%	5.1%
SNTS	3/5/10	4.87	4.84	-	114.25	-	-0.6%	2.1%	-2.7%
KIRK	3/12/10	20.11	20.78	-	115.46	-	3.3%	1.0%	2.4%
PRSC	3/12/10	14.18	14.79	-	115.46	-	4.3%	1.0%	3.3%
						Top 50 Portfolio
						Totals	21.6%	2.6%	19.0%
52.6% of stocks beat the S&P 500 Benchmark						Closed	22.5%	-1.7%	24.2%
S&P C			116.59			Open	18.9%	14.8%	4.1%

Top 30 Ranking

Now that I wrote my Cruncher worksheet, I can enter any group of stock symbols (up to 500) and let my computer whirl for a while and it calculates the earnings yield and return on capital for each of the stocks and then ranks each stock for each statistic within that group (not necessarily the same as against entire stock universe) and then does the JG adding and total ranking.

I ran the top 30 over 50m through the worksheet last night. I think today I will run the top 50 through the workbook as well. My purpose is to try and compare how the statistics change over time to give some feeling as to how the stocks are valued over time. The problem is that the ROIC is such a volatile statistic (as working capital goes to zero it goes to infinity) that it is difficult to use in averages and such, So I think the medians are more telling. I think in a top 50 ranking they will be even more telling, which is why I am going to start that today. I do have one other idea on how to compare, which is to use JGs own method, that is ranking within the ranking. Without further adieu, here is what I have so far.

Top 30 ranking:

Stock	EY	ROC	EY Rank	ROC Rank	Sum
SNTA	62%	2025%	2	3	5
PDLI	18%	173754%	6	1	7
SMED	29%	338%	7	6	13
EME	22%	304%	5	11	16
UEPS	14%	1257%	1	16	17
SOLR	19%	590%	9	12	21
SNTS	13%	3902%	22	2	24
TSRA	19%	277%	20	5	25
USMO	35%	155%	3	23	26
IMMU	14%	731%	12	15	27
ONTY	14%	772%	16	13	29
PPD	21%	187%	15	14	29
KHD	36%	140%	13	17	30
PVSW	15%	526%	10	20	30
WTW	12%	1114%	4	29	33
JCOM	12%	777%	30	4	34
PRSC	16%	275%	27	7	34
FRX	21%	176%	26	9	35
CHKE	13%	725%	25	10	35
IDCC	19%	180%	11	24	35
XOMA	27%	119%	8	27	35
UNTD	15%	233%	29	8	37
LO	13%	650%	18	19	37
CBPO	20%	120%	14	26	40
PRGX	14%	196%	23	21	44
CEU	14%	207%	19	25	44
VCLK	12%	571%	28	18	46
FLR	18%	134%	24	22	46
VSNT	10%	513%	17	30	47
DLX	13%	187%	21	28	49

Comparison with various points in time:

3/19/10	Average	19%	6371%
	Median	16%	321%
2/19/10	Average	25%	5599%
	Median	19%	329%
11/06/09	Average	46%	770%
	Median	16%	229%
07/31/09	Average	37%	588%
	Median	20%	212%
04/16/09	Average	45%	740%
	Median	27%	228%

Here is the rankings of each 30 stocks for the 5 time periods:

Stock	Date	EY	ROC	EY Rank	ROC Rank	Sum
SNTA	3/19/2010	62%	2025%	10	11	21
SNTA	11/7/2009	83%	1354%	8	16	24
SNTA	2/19/2010	56%	1354%	11	17	28
snta	1/7/2010	52%	1354%	13	18	31
qlti	4/16/2009	177%	988%	5	26	31
vsnt	4/16/2009	31%	1581%	29	12	41
ptie	4/16/2009	50%	825%	14	31	45
scmp	4/16/2009	27%	1512%	39	13	52
msb	4/16/2009	27%	2890%	44	10	54
ptie	7/31/2009	34%	825%	25	32	57
QCOR	11/7/2009	24%	10939%	54	4	58
qcor	4/16/2009	25%	7841%	51	7	58
pdli	1/7/2010	22%	145094%	65	2	67
vsnt	7/31/2009	25%	1287%	50	19	69
elnk	1/7/2010	44%	658%	15	54	69
PDLI	2/19/2010	21%	145094%	68	3	71
SMED	2/19/2010	20%	10939%	74	5	79
cytk	1/7/2010	29%	707%	35	46	81
khd	7/31/2009	318%	311%	2	79	81
scmp	7/31/2009	20%	1512%	72	14	86
SOLR	11/7/2009	23%	831%	56	30	86
khd	4/16/2009	176%	311%	6	80	86
PDLI	3/19/2010	18%	173754%	94	1	95
qcor	1/7/2010	18%	10939%	95	6	101
divx	4/16/2009	32%	323%	27	74	101
KHD	11/7/2009	794%	220%	1	101	102
prgx	4/16/2009	35%	303%	22	82	104
SMED	3/19/2010	29%	338%	34	72	106
EME	2/19/2010	27%	343%	42	69	111
qcor	7/31/2009	17%	7841%	108	8	116
solr	4/16/2009	20%	761%	81	37	118
EME	11/7/2009	26%	343%	48	70	118
prgx	7/31/2009	27%	303%	41	83	124
eme	1/7/2010	23%	343%	57	71	128
UEPS	2/19/2010	22%	338%	61	73	134
vclk	1/7/2010	17%	967%	109	27	136
endp	1/7/2010	18%	821%	103	33	136
hckt	4/16/2009	27%	244%	43	93	136
SOLR	2/19/2010	18%	821%	106	34	140
ghm	4/16/2009	28%	207%	36	105	141
mtxx	7/31/2009	187%	150%	3	138	141
EME	3/19/2010	22%	304%	62	81	143
ctcm	4/16/2009	20%	366%	80	67	147
ONTY	11/7/2009	15%	1371%	133	15	148
solr	7/31/2009	17%	761%	110	38	148
SOLR	3/19/2010	19%	590%	91	57	148
eme	7/31/2009	25%	225%	49	100	149
SNTS	2/19/2010	16%	914%	122	28	150
USMO	11/7/2009	40%	153%	17	134	151
usmo	1/7/2010	41%	153%	16	135	151
PRGX	11/7/2009	20%	321%	76	76	152
VSNT	11/7/2009	15%	1031%	128	25	153
USMO	2/19/2010	15%	1257%	132	22	154
ntri	4/16/2009	23%	237%	58	96	154
kfy	4/16/2009	25%	219%	52	102	154
TSRA	2/19/2010	39%	153%	18	136	154
USMO	3/19/2010	35%	155%	24	131	155
airv	4/16/2009	18%	514%	97	62	159
tra	4/16/2009	29%	156%	32	130	162
KHD	3/19/2010	36%	140%	21	142	163
UEPS	3/19/2010	14%	1257%	142	23	165
solr	1/7/2010	16%	689%	118	48	166
ONTY	2/19/2010	35%	140%	23	143	166
usmo	4/16/2009	37%	135%	20	146	166
SNTS	3/19/2010	13%	3902%	159	9	168
cray	4/16/2009	178%	103%	4	164	168
PPD	2/19/2010	20%	277%	83	86	169
KHD	2/19/2010	17%	590%	112	58	170
jcom	1/7/2010	15%	672%	125	51	176
ppd	4/16/2009	21%	192%	66	110	176
deck	4/16/2009	37%	114%	19	157	176
vsnt	1/7/2010	14%	914%	148	29	177
PVSW	2/19/2010	15%	731%	136	41	177
PRSC	2/19/2010	18%	321%	100	77	177
TSRA	3/19/2010	19%	277%	90	87	177
WTW	2/19/2010	159%	99%	7	170	177
eme	4/16/2009	27%	144%	38	141	179
tsra	1/7/2010	18%	279%	96	84	180
usmo	7/31/2009	29%	135%	33	147	180
IMMU	2/19/2010	22%	176%	59	122	181
prgx	1/7/2010	18%	321%	105	78	183
JCOM	2/19/2010	31%	119%	30	154	184
iphs	4/16/2009	64%	81%	9	176	185
PPD	3/19/2010	21%	187%	69	117	186
IMMU	3/19/2010	14%	731%	146	42	188
GIGM	11/7/2009	19%	237%	92	97	189
iphs	7/31/2009	55%	81%	12	177	189
PPD	11/7/2009	20%	188%	77	113	190
gni	7/31/2009	15%	497%	126	65	191
ONTY	3/19/2010	14%	772%	156	36	192
ghm	7/31/2009	26%	136%	47	145	192
AGX	11/7/2009	12%	1259%	172	21	193
IMMU	11/7/2009	14%	738%	155	39	194
FRX	3/19/2010	21%	176%	71	123	194
ueps	1/7/2010	11%	1275%	175	20	195
ctcm	7/31/2009	15%	366%	127	68	195
tsra	4/16/2009	19%	194%	86	109	195
XOMA	3/19/2010	27%	119%	40	155	195
int	4/16/2009	21%	171%	70	126	196
rgr	1/7/2010	30%	103%	31	165	196
WTW	3/19/2010	12%	1114%	173	24	197
khd	1/7/2010	24%	140%	53	144	197
divx	7/31/2009	15%	323%	123	75	198
FRX	2/19/2010	20%	188%	84	114	198
PVSW	3/19/2010	15%	526%	139	60	199
TSRA	11/7/2009	16%	279%	115	85	200
ppd	1/7/2010	19%	188%	85	115	200
fix	4/16/2009	32%	95%	28	173	201
PRSC	3/19/2010	16%	275%	113	89	202
RGR	11/7/2009	28%	103%	37	166	203
IDCC	2/19/2010	13%	725%	161	43	204
CHKE	2/19/2010	14%	672%	152	52	204
GHM	11/7/2009	18%	209%	101	103	204
ahci	4/16/2009	26%	112%	46	158	204
egy	7/31/2009	34%	74%	26	178	204
JCOM	3/19/2010	12%	777%	170	35	205
amed	11/7/2009	16%	246%	114	92	206
ppd	7/31/2009	18%	198%	99	107	206
lo	7/31/2009	13%	700%	160	47	207
JCOM	11/7/2009	14%	672%	154	53	207
CHKE	3/19/2010	13%	725%	164	44	208
untd	1/7/2010	16%	255%	119	90	209
IDCC	3/19/2010	19%	180%	88	121	209
immu	1/7/2010	12%	738%	171	40	211
hckt	7/31/2009	16%	244%	117	94	211
UNTD	2/19/2010	14%	526%	151	61	212
XOMA	2/19/2010	26%	103%	45	167	212
chke	1/7/2010	13%	725%	168	45	213
fwlt	7/31/2009	20%	146%	73	140	213
LO	11/7/2009	13%	674%	167	49	216
PVSW	11/7/2009	14%	464%	150	66	216
FIX	11/7/2009	22%	117%	60	156	216
PRGX	2/19/2010	13%	650%	163	55	218
lo	1/7/2010	13%	674%	169	50	219
PRIM	11/7/2009	20%	150%	82	137	219
LO	3/19/2010	13%	650%	166	56	222
CBPO	2/19/2010	19%	160%	93	129	222
br	7/31/2009	15%	277%	135	88	223
tra	7/31/2009	23%	100%	55	169	224
cf	1/7/2010	22%	109%	63	163	226
LO	2/19/2010	20%	120%	75	152	227
exbd	4/16/2009	21%	109%	67	161	228
UNTD	3/19/2010	15%	233%	130	99	229
int	7/31/2009	18%	171%	102	127	229
CBPO	3/19/2010	20%	120%	78	153	231
VM	11/7/2009	16%	189%	120	112	232
VCLK	3/19/2010	12%	571%	174	59	233
dyai.pk	1/7/2010	14%	251%	144	91	235
VSNT	2/19/2010	15%	242%	140	95	235
fix	7/31/2009	22%	95%	64	174	238
frx	1/7/2010	18%	155%	107	132	239
VSNT	3/19/2010	10%	513%	177	63	240
FLR	2/19/2010	10%	513%	178	64	242
CEU	2/19/2010	16%	171%	121	124	245
CEU	3/19/2010	14%	207%	143	104	247
VCLK	2/19/2010	19%	111%	89	159	248
PRGX	3/19/2010	14%	196%	141	108	249
FLR	3/19/2010	18%	134%	104	148	252
DLX	11/7/2009	15%	185%	134	119	253
dlx	7/31/2009	15%	187%	138	116	254
cbi	7/31/2009	20%	89%	79	175	254
gigm	7/31/2009	14%	237%	157	98	255
cski	7/31/2009	19%	100%	87	168	255
FLR	11/7/2009	17%	134%	111	149	260
exbd	7/31/2009	18%	109%	98	162	260
RTN	11/7/2009	15%	147%	124	139	263
dlx	1/7/2010	14%	185%	145	120	265
CEU	11/7/2009	13%	191%	165	111	276
jtx	7/31/2009	14%	169%	149	128	277
DLX	3/19/2010	13%	187%	162	118	280
JTX	11/7/2009	14%	153%	147	133	280
DLX	2/19/2010	15%	122%	131	150	281
she	1/7/2010	10%	199%	176	106	282
jtx	1/7/2010	14%	171%	158	125	283
CBI	11/7/2009	16%	99%	116	171	287
idcc	1/7/2010	15%	122%	137	151	288
CBST	11/7/2009	15%	110%	129	160	289
cbi	1/7/2010	14%	99%	153	172	325

Then here is the average ranking of each of the 5 time periods:

Row Labels	Average of Sum
4/16/2009	136
2/19/2010	179
1/7/2010	186
7/31/2009	188
3/19/2010	190
11/7/2009	193
Grand Total	179

So while this doesn't give us absolute values, it does show things on a relative basis. 4/16 was clearly when things were cheapest. Interestingly 11/7/09 was the least cheap.