This performance report is meant to show potential of all the picks from our Swing Trading Letter, not actual trading. This data does not include costs, dividends or any other known or unknown variables which may or may not have impacted the trades.

Swing Trading History for June 2006 INITIAL RESULTS SECONDARY RESULTS EntryDate Type Stock Enter Action Target Stop Initial Exit Exit Date Exit Points % Exit Exit Date Exit Points % 31-May LT ENER 39.27 Short 37.31 42.01 42.01 1-Jun (2.74) -6.98% -- -- (2.74) 6.98% 1-Jun ST OSIP 29.08 Long 29.66 28.15 29.66 1-Jun 0.58 2.00% 30.61 8-Jun 1.53 5.26% 5-Jun ST PCLN 32.43 Long 33.08 31.29 31.29 5-Jun (1.14) -3.52% - - (1.14) -3.51% 6-Jun LT SWIR 16.23 Short 15.42 17.01 15.42 8-Jun 0.81 5.00% 15.76 12-Jun 0.47 2.90% 8-Jun ST HYSL 28.07 Short 27.51 28.41 27.51 8-Jun 0.56 2.00% 28.07 12-Jun 0.00 0.00% 15-Jun LT OSTK 20.70 Short 19.67 21.65 19.67 15-Jun 1.03 5.00% 20.13 19-Jun 0.57 2.75% 19-Jun ST CECO 30.28 Short 29.67 31.46 31.46 21-Jun (1.18) -3.90% - - (1.18) -3.89% 27-Jun ST OVTI 21.39 Short 20.96 22.03 20.96 27-Jun 0.43 2.01% 20.40 30-Jun 0.99 4.63% 30-Jun ST MSTR 95.26 Long 97.17 91.99 97.17 30-Jun 1.91 2.01% 96.99 6-Jul 1.73 1.82% -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- . June Total: (0.48) 0.26% June Total: 0.23 2.97% . YTD Total: (5.34) -8.79% YTD Total: 6.45 6.50%         P - Pending

The performance results noted above are hypothetical. Unlike an actual performance record, hypothetical results do not represent actual trading. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. Since trades have not actually been executed, results may vary due to market factors such as lack of liquidity, slippage and commissions. Some performance stats listed may be approximations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown above.