BUY: ALDA, EGY, OPMR, USMO

All total transaction prices include a $15.00 commission.

• Purchased 172 shares of Aldila, Inc. (ALDA) at $16.48/share = $2,849.56.
• Purchased 502 shares of VAALCO Energy, Inc. (EGY) at $5.62/share = $2,836.24.
• Purchased 314 shares of Optimal Group, Inc. (OPMR) at $8.94/share = $2,822.16.
• Purchased 135 shares of USA Mobility, Inc. (USMO) at $20.79/share = $2,821.65.

Transaction summary:

Total transaction costs: $11,329.61

Final bank account: $265.54

Portfolio:

• ANIK: 254
• PPD: 78
• HNR: 217
• MOT: 133
• PWEI: 90
• PLAY: 266
• HRB: 109
• CLMT: 79
• FCX: 46
• FDG: 82
• XJT: 378
• DLX : 112
• ASEI : 49
• INTX : 265
• CECO: 113
• CRYP: 148
• UIC: 49
• CONN: 105
• HGT: 102
• WIRE: 117
• IPS: 27
• SHOO: 81
• IIIN: 138
• LMS: 82
• KSWS: 70
• WON: 338
• TTES: 175
• ALDA: 172
• EGY : 502
• OPMR: 314
• USMO: 135

Total "account value" including cash is $88,280.20. This represents a 1-year return of 17.7%. However, it is important to note several factors, both positive and negative. On the positive side, throughout the first year most of portfolio was held in non-yielding cash. On the negative side, there has been a very strong upsurge in the overal markets throughout the past year. Not only could we be seeing evidence of the proverbial rising tide lifting all boats, but it may well be lifting some more than others. Fully 70% of the portfolio is held in "small-cap" stock, with only 15.8% in mid-cap and 13.9% in companies with big capitalizations. Smaller companies react more radically to market movements in both directions.

From a year ago, aggregate changes on the indices I've been watching are around 13.4%, broken down as follows:

• Dow: 11,278.7695 -> 12,961.98: up 14.9%.
• S&P 500: 1,309.93 -> 1,484.35: up 13.3%.
• NASDAQ composite: 2,370.8799 -> 2,526.39: up 6.6%.

SELL: SGTL, CALL, KG, PNCL

Sold Sigmatel and CallWave on the April 20 to keep the short-term capital loss; Pinnacle Northwest and King Pharmaceuticals on April 21 for the long-term capital gain. Including commissions of $15.00 per transaction, here are the sale results:

• 271 SGTL x $3.77 = $1,006.67. Short-term capital loss: $1,338.93 = -57%
• 545 CALL x $3.29 - $1,778.05. Short-term capital loss: $569.55 = -24%
• 131 KG x $20.89 = $2,721.59. Long-term capital gain: $390.51 = 16.8%
• 333 PNCL x $17.09 = $5,675.97. Long-term capital gain: $3,329.97 = 141.9%

Totals:

• Net short-term capital gain (loss): ($1,908.55)
• Net long-term capital gain (loss): $3,720.48
• Net proceeds for this group: $1,811.93
• Net return for this group: 19.34%

Finally, numbers to keep around:

• Bank account: $11,595.15
• Accumulated short-term capital gain (loss) so far: ($1,034.15)
• Accumulated long-term capital gain (loss) so far: $3,720.48
• Total realized gain (loss): $2,686.40
• Total realized return: 22.25%