Portfolio
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Current Portfolio:

  Symbol Rec/Entry Date ¹ Entry Price Current Price Gain (Loss) Current Advice ²
Antigenics AGEN 06/15/04 7.69    
Alico ALCO 04/15/04 35.00    
Anglogold Ashanti AU 05/13/04 31.11    
Cray Inc. CRAY 07/12/04 4.80    
Encana Corp. ECA 06/22/04 42.95    
Flyi, Inc. FLYI 07/12/04 3.06    
Insmed INSM 03/17/04 2.06    
Annaly Mortgage Management NLY 04/15/04 16.08    
Petro China PTR 10/01/03 31.65    
Stillwater Mining SWC 04/15/04 13.70    
Tejon Ranch Company TRC 06/11/04 39.99    


Closed Positions:

  Symbol Entry Date Entry Price Exit Date Exit Price Gain (Loss) Comment
Blue-Square Israel BSI 12/29/04 9.78 01/28/05 10.42 6.54 % Sold for 7% gain in 30 days
D.R. Horton, Inc. DHI 04/14/04 29.77 05/11/04 25.60 ( 14.01 %) ---
Petro China PTR 10/01/03 33.75 04/14/04 49.17 45.69 % Closed 1/3 of position
Petro China PTR 10/01/03 33.75 12/31/03 57.22 69.54 % Closed 1/3 of position
Winn-Dixie WIN 02/02/04 6.39 02/08/05 3.76 ( 41.16 %) Sold just before bankruptcy declaration.
Winn-Dixie WIN 02/02/04 6.39 07/12/04 6.77 5.95 % Closed 2/3 of position


¹ Pre-existing positions will reflect original entry price, not their price as of the recommendation date. Additionally, pre-existing positions in this portfolio will not be changed to "Buy", "Hold", or "Sell" until they are recommended in the newsletter itself.  In other words, your results could be better or worse than the portfolio will reflect.

² "Buy" means buy up to max "buy" price.  "Accumulate" means if you already own it, you may add more, otherwise, don't buy.  "Hold" means don't buy and don't sell.  "Sell" means sell immediately.

³ The entry price has been adjusted to reflect dividends, additional purchases, mergers and/or stock splits. All additions to our portfolio are discussed in our newsletters before they take place, including additional purchases of pre-existing holdings. While we don't always mention dividends, we will do our best to keep you up to date on any other corporate events that affect the entry price listed here.