Reference Portfolio as of the 26th of August 2006

The system remains flat:

Actions
Nothing

Account general informations
NAV: 10 496 919,01
Market Expo: 0,00
Open Positions: 0

Actual portfolio (included today actions)
Nothing

Reference Portfolio as of the 16th of August

We're flat again, as the system is closing SHORTs asap, one position on stop the others on "garbagge collection" rule:

Actions
CLOSE POSITION SHORT - Security: NTL Incorporated (NTLI) NB: 37798 Close rule: StopOnSecurity
CLOSE POSITION SHORT - Security: TAKE TWO (TTWO) NB: 81522 Close rule: GC
CLOSE POSITION SHORT - Security: DELL COMPUTER (DELL) NB: 40986 Close rule: GC
CLOSE POSITION SHORT - Security: FOUNDRY NETWORKS INC (FDRY) NB: 87451 Close rule: GC

Account general informations
NAV: 10 506 490,54
Market Expo: 0,00
Open Positions: 0

Actual portfolio (included today actions)
Nothing

NAV has slightly dived in the process...

Reference Portfolio as of the 14th of August

This time the system has gone SHORT on the market. Remember that it considers a trading universe filled with technology, media and telecoms stocks, approximatively a bit more than one thousand stocks. Stops value are of course higher than the last stock price quoted.

Actions
Nothing

Account general informations
NAV: 10 668 527,25
Market Expo: 3 536 857,76
Open Positions: 4

Actual portfolio SHORT (included today actions)
TAKE TWO OpenDate: 08/08/2006 NB:81522 STOP: 11,84
NTL Incorporated OpenDate: 11/08/2006 NB:37798 STOP: 24,40
DELL COMPUTER OpenDate: 11/08/2006 NB:40986 STOP: 23,36
FOUNDRY NETWORKS INC OpenDate: 14/08/2006 NB:87451 STOP: 11,20

Reference Portfolio as of the 4th of August

Well, the system remains on the sidelines as it did the week before on the 29th of July and on the 22nd of July as well. I was not away, but a bit tired to write "not in the market" even though not being in the market is as much of a decision as being LONG or SHORT !

Still on the money market so far and the account update stands as:

Actions
Nothing

Account general informations
NAV: 10 759 650,20
Market Expo: 0,00
Open Positions: 0

Actual portfolio (included today actions)
Nothing

The situation on the world markets has pretty much changed since the last update so I include hereafter a new analysis. The format of the table has been slightly adapted to include additional information. For each market, characterized by an index, is indicated whether the market is BULL, NEUTRAL or BEAR, since when is the case, whether the market is considered for TRADING (LONG/SHORT/SIDELINE) or INVESTING (LONG only) and since when. SIDE means that the system remains on the sidelines, i.e. not in the market.

Hope it helps.