Reference Portfolio Snapshot as of 06/01/27 Jan.27th

Here follows the situation on the 27th of January and the list of actions is given after the portfolio's snapshot. The system maintains leverage on margin with a market expo of 17 197 310,35 USD for a NAV of 12 655 735,98 USD. Not for the sale of ENER which occured on a stop triggered this last trading day, market expo would stand above 18M. Since AMD downgrade by Deutsche Bank analyst, the stock has resumed its run.

Latest Actions
CLOSE POSITION LONG - Security: ENERGY CONV (ENER) NB: 20790 Close rule: StopOnSecurity
STOP - Security: ADV MICRO DEV (AMD - N:27677) New stop @ 28,33 Stop type: TSL50
STOP - Security: MEMC ELECTRONIC (WFR - N:38680) New stop @ 23,95 Stop type: ZLS
STOP - Security: APPLE COMPUTER (AAPL - N:13512) New stop @ 65,50 Stop type: TSL50

Account general informations
NAV: 12 655 735,98
Market Expo: 17 197 310,35
Open Positions: 17

Actual portfolio (included today actions)
aQuantive Inc. OpenDate: 11/11/2005 NB:33921 STOP: 22,99
GOOGLE OpenDate: 11/11/2005 NB:2114 STOP: 370,55
Redback Networks Inc. OpenDate: 11/11/2005 NB:68375 STOP: 12,34
TALX OpenDate: 11/11/2005 NB:30937 STOP: 27,46
DIGITAL INSIGHT CORP OpenDate: 11/11/2005 NB:27528 STOP: 30,89
ADV MICRO DEV OpenDate: 09/01/2006 NB:27677 STOP: 28,33
CIENA OpenDate: 09/01/2006 NB:278257 STOP: 2,69
UNOVA OpenDate: 09/01/2006 NB:25545 STOP: 29,28
TRIDENT MICROSYS OpenDate: 06/12/2005 NB:45517 STOP: 20,39
SBA COMMS CORP OpenDate: 06/12/2005 NB:47559 STOP: 15,78
QUALITY SYSTEMS OpenDate: 06/12/2005 NB:10869 STOP: 70,95
MEMC ELECTRONIC OpenDate: 06/12/2005 NB:38680 STOP: 23,95
Crown Castle International OpenDate: 11/11/2005 NB:29513 STOP: 24,59
APPLE COMPUTER Open Date: 11/11/2005 NB:13512 STOP: 65,50
Intersil OpenDate: 11/11/2005 NB:33212 STOP: 22,50
PLEXUS OpenDate: 11/11/2005 NB:43855 STOP: 19,76
T HQ OpenDate: 11/11/2005 NB:33907 STOP: 20,95

All Actions since last week

27/01/06	STOP	Security: ADV MICRO DEV (AMD - N:27677) New stop @ 28,33 Stop type: TSL50
27/01/06	STOP	Security: MEMC ELECTRONIC (WFR - N:38680) New stop @ 23,95 Stop type: ZLS
27/01/06	CLOSE POSITION LONG	Security: ENERGY CONV (ENER) NB: 20790 Close rule: StopOnSecurity
27/01/06	STOP	Security: APPLE COMPUTER (AAPL - N:13512) New stop @ 65,50 Stop type: TSL50
26/01/06	STOP	Security: APPLE COMPUTER (AAPL - N:13512) New stop @ 65,46 Stop type: TSL50
26/01/06	STOP	Security: TRIDENT MICROSYS (TRID - N:45517) New stop @ 20,39 Stop type: ZLS
26/01/06	STOP	Security: ADV MICRO DEV (AMD - N:27677) New stop @ 27,95 Stop type: TSL50
25/01/06	STOP	Security: APPLE COMPUTER (AAPL - N:13512) New stop @ 65,41 Stop type: TSL50
25/01/06	STOP	Security: ADV MICRO DEV (AMD - N:27677) New stop @ 27,77 Stop type: TSL50
24/01/06	STOP	Security: ENERGY CONV (ENER - N:20790) New stop @ 47,95 Stop type: ZLS
24/01/06	STOP	Security: ADV MICRO DEV (AMD - N:27677) New stop @ 27,53 Stop type: TSL50
24/01/06	STOP	Security: APPLE COMPUTER (AAPL - N:13512) New stop @ 65,31 Stop type: TSL50
23/01/06	STOP	Security: ENERGY CONV (ENER - N:20790) New stop @ 36,83 Stop type: TSL50