TRADE TABLE (SMH)SEMI INDEX  1/1/2007 TO LAST
LONG GAIN/LOSS		$31.70	109.5%		CURRENT TOTAL PROFIT
SHORT-GAIN/LOSS		$33.70	135.7%		NET PROFIT	$  65.40	245.2%
MAX UNREALISED GAIN ( BUY)		$  5.10			BUY SIGNALS	48	110.0%
MAX DRAWDOWN (BUY)		$ (1.60)			SELL SIGNALS	49	136.0%
MAX UNREALISED GAIN ( SELL)		$  7.60			TRADES	97
MAX DRAWDOWN (SELL)		$ (1.90)			LONG WINS	33	69.0%
TOTAL UNRECOGNIZED GAIN		$12.70			SHORT WINS	33	67.0%
BUY/	TRADE	TRADE	CLOSE	CLOSE	TRADE	CUM	DAYS IN
SELL	DATE	PRICE	DATE	PRICE	P/L	GAIN	TRADE
SELL	01/23/07	31.86	02/01/07	32.79	-2.8%	-2.8%	9
BUY	02/01/07	32.79	02/09/07	32.63	-0.5%	-3.3%	8
SELL	02/09/07	32.63	02/13/07	32.44	0.6%	-2.7%	4
BUY	02/13/07	32.44	02/28/07	33.11	2.1%	-0.6%	15
SELL	02/28/07	33.11	03/16/07	32.78	1.0%	0.4%	16
BUY	03/16/07	32.78	03/23/07	33.04	0.8%	1.2%	7
SELL	03/23/07	33.04	04/03/07	32.28	2.4%	3.6%	11
BUY	04/03/07	32.28	04/04/07	32.74	1.4%	5.0%	1
SELL	04/04/07	32.74	04/09/07	32.98	-0.7%	4.3%	5
BUY	04/09/07	32.98	05/09/07	36.64	11.1%	15.4%	30
SELL	05/09/07	36.64	05/11/07	36.53	0.3%	15.7%	2
BUY	05/11/07	36.53	05/18/07	35.73	-2.2%	13.5%	7
SELL	05/18/07	35.73	06/07/07	34.32	4.1%	17.6%	20
BUY	06/07/07	34.32	07/25/07	37.64	9.7%	27.3%	48
SELL	07/25/07	37.64	08/28/07	34.91	7.8%	35.1%	34
BUY	08/28/07	34.91	09/13/07	36.00	3.1%	38.2%	16
SELL	09/13/07	36.00	09/17/07	35.63	1.0%	39.2%	4
BUY	09/17/07	35.63	09/18/07	36.32	1.9%	41.1%	1
SELL	09/18/07	36.32	09/21/07	37.10	-2.1%	39.0%	3
BUY	09/21/07	37.10	10/03/07	36.70	-1.1%	37.9%	12
SELL	10/03/07	36.70	10/17/07	36.80	-0.3%	37.6%	14
BUY	10/17/07	36.80	10/18/07	36.72	-0.2%	37.4%	1
SELL	10/18/07	36.72	11/27/07	31.58	16.3%	53.7%	40
BUY	11/27/07	31.58	11/29/07	32.65	3.4%	57.1%	2
SELL	11/29/07	32.65	12/04/07	32.16	1.5%	58.6%	5
BUY	12/04/07	32.16	12/14/07	32.67	1.6%	60.2%	10
SELL	12/14/07	32.67	12/18/07	32.30	1.1%	61.3%	4
BUY	12/18/07	32.30	12/19/07	32.36	0.2%	61.5%	1
SELL	12/19/07	32.36	01/23/08	28.39	14.0%	75.5%	35
BUY	01/23/08	28.39	01/25/08	28.02	-1.3%	74.2%	2
SELL	01/25/08	28.02	01/28/08	28.66	-2.2%	72.0%	3
BUY	01/28/08	28.66	01/29/08	28.55	-0.4%	71.6%	1
SELL	01/29/08	28.55	01/31/08	28.15	1.4%	73.0%	2
BUY	01/31/08	28.15	02/15/08	28.58	1.5%	74.5%	15
SELL	02/15/08	28.58	02/20/08	28.85	-0.9%	73.6%	5
BUY	02/20/08	28.85	02/28/08	29.45	2.1%	75.7%	8
SELL	02/28/08	29.45	03/03/08	28.40	3.7%	79.4%	4
BUY	03/03/08	28.40	03/05/08	28.95	1.9%	81.3%	2
SELL	03/05/08	28.95	03/10/08	28.69	0.9%	82.2%	5
BUY	03/10/08	28.69	03/11/08	29.27	2.0%	84.2%	1
SELL	03/11/08	29.27	03/14/08	28.68	2.1%	86.3%	3
BUY	03/14/08	28.68	03/18/08	29.73	3.7%	90.0%	4
SELL	03/18/08	29.73	03/20/08	29.09	2.2%	92.2%	2
BUY	03/20/08	29.09	03/26/08	29.41	1.1%	93.3%	6
SELL	03/26/08	29.41	03/31/08	28.72	2.4%	95.7%	5
BUY	03/31/08	28.72	04/07/08	30.29	5.5%	101.2%	7
SELL	04/07/08	30.29	04/09/08	29.80	1.6%	102.8%	2
BUY	04/09/08	29.80	04/21/08	30.94	3.8%	106.6%	12
SELL	04/21/08	30.94	04/22/08	30.05	3.0%	109.6%	1
BUY	04/22/08	30.05	05/29/08	32.67	8.7%	118.3%	37
SELL	05/29/08	32.67	06/04/08	32.80	-0.4%	117.9%	6
BUY	06/04/08	32.80	06/06/08	32.11	-2.1%	115.8%	2
SELL	06/06/08	32.11	07/16/08	28.95	10.9%	126.7%	40
BUY	07/16/08	28.95	07/21/08	29.43	1.7%	128.4%	5
SELL	07/21/08	29.43	08/05/08	28.70	2.5%	130.9%	15
BUY	08/05/08	28.70	08/21/08	28.78	0.3%	131.2%	16
SELL	08/21/08	28.78	09/18/08	25.85	11.3%	142.5%	28
BUY	09/18/08	25.85	09/19/08	26.50	2.5%	145.0%	1
SELL	09/19/08	26.50	09/24/08	24.75	7.1%	152.1%	5
BUY	09/24/08	24.75	09/26/08	25.85	4.4%	156.5%	2
SELL	09/26/08	25.85	10/29/08	19.29	34.0%	190.5%	33
BUY	10/29/08	19.29	11/11/08	17.90	-7.2%	183.3%	13
SELL	11/11/08	17.90	11/12/08	17.15	4.4%	187.7%	1
BUY	11/12/08	17.15	11/14/08	17.10	-0.3%	187.4%	2
SELL	11/14/08	17.10	11/25/08	15.99	6.9%	194.3%	11
BUY	11/25/08	15.99	11/28/08	16.63	4.0%	198.3%	3
SELL	11/28/08	16.63	12/02/08	15.96	4.2%	202.5%	4
BUY	12/02/08	15.96	12/29/08	16.85	5.6%	208.1%	27
SELL	12/29/08	16.85	01/05/09	18.28	-7.8%	200.3%	7
BUY	01/05/09	18.28	01/09/09	17.52	-4.2%	196.1%	4
SELL	01/09/09	17.52	01/26/09	17.14	2.2%	198.3%	17
BUY	01/26/09	17.14	02/02/09	17.41	1.6%	199.9%	7
SELL	02/02/09	17.41	02/03/09	17.56	-0.9%	199.0%	1
BUY	02/03/09	17.56	02/10/09	18.10	3.1%	202.1%	7
SELL	02/10/09	18.10	02/12/09	17.94	0.9%	203.0%	2
BUY	02/12/09	17.94	02/13/09	18.11	0.9%	203.9%	1
SELL	02/13/09	18.11	03/03/09	15.93	13.7%	217.6%	18
BUY	03/03/09	15.93	04/20/09	19.49	22.3%	239.9%	48
SELL	04/20/09	19.49	04/21/09	19.52	-0.2%	239.7%	1
BUY	04/21/09	19.52	04/27/09	19.87	1.8%	241.5%	6
SELL	04/27/09	19.87	04/28/09	19.63	1.2%	242.7%	1
BUY	04/28/09	19.63	05/06/09	21.16	7.8%	250.5%	8
SELL	05/06/09	21.16	05/22/09	19.97	6.0%	256.5%	16
BUY	05/22/09	19.97	06/19/09	21.39	7.1%	263.6%	28
SELL	06/19/09	21.39	07/13/09	21.45	-0.3%	263.3%	24
BUY	07/13/09	21.45	08/11/09	24.24	13.0%	276.3%	29
SELL	08/11/09	79.59	04/22/09	78.81	1.0%	277.3%	1
BUY	09/15/09	25.90	09/24/09	25.45	-1.7%	275.6%	9
SELL	09/24/09	25.45	10/12/09	26.28	-3.2%	272.4%	18
CASH	10/12/09					272.4%
BUY	12/14/09	85.39	01/29/10	85.26	-0.2%	272.2%	18
SELL	01/29/10	24.76	02/11/10	25.79	-4.0%	268.2%	14
BUY	04/12/10	28.75	05/04/10	28.55	-0.7%	267.5%	22
SELL	01/29/10	24.76	02/11/10	25.79	-4.0%	263.5%	13
BUY	07/13/10	28.19	08/04/10	27.73	-1.6%	261.9%	22
SELL	05/04/10	28.55	07/13/10	28.19	1.3%	263.2%	70
BUY	08/05/10	27.80	OPEN	27.80	0.0%	263.2%	3