1st Choice Next Day Trades Using a 1.0 Beta Nasdaq-100 Index Fund              
  January 1987 Through December 2004  
  Nas-100 1ST 1ST 1ST  
  CLOSE CHOICE CHOICE CHOICE  
DATE VALUE POSITION GAIN VALUE  
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1/2/1987 142.86 Buy   $142.86  
3/10/1987 185.31 Sell 29.71% $185.31  
3/12/1987 183.16 Buy 1.16% $187.46  
3/19/1987 189.82 Sell 3.64% $194.28  
4/27/1987 181.26 Cash 4.51% $203.04
4/30/1987 185.83 Buy 0.08% $203.20
5/4/1987 189.74 Sell 2.10% $207.47
6/17/1987 192.37 Buy -1.39% $204.60
7/28/1987 194.73 Sell 1.23% $207.11
10/27/1987 131.21 Cash 32.62% $274.66
11/3/1987 147.95 Sell 0.15% $275.08
11/18/1987 141.06 Buy 4.66% $287.89
     
1987 Nas-100: +9.4%                     1st Choice Timing: +123.2%
     
2/26/1988 172.64 Sell 22.39% $352.34
3/14/1988 178.32 Buy -3.29% $340.75
11/2/1988 174.25 Sell -2.28% $332.97
11/18/1988 163.82 Buy 5.99% $352.90
     
1988 Nas-100: +13.5%                   1st Choice Timing: +19.8%
     
8/4/1989 218.76 Sell 33.54% $471.26
8/9/1989 217.42 Buy 0.61% $474.14
8/31/1989 223.51 Sell 2.80% $487.42
9/8/1989 222.96 Buy 0.25% $488.62
10/11/1989 234.54 Sell 5.19% $514.00
10/26/1989 218.84 Cash 6.69% $548.41
10/31/1989 223.31 Buy 0.10% $548.96
11/3/1989 215.18 Sell -3.64% $528.98
11/20/1989 222.76 Buy -3.52% $510.34
     
1989 Nas-100: +26.2%                   1st Choice Timing: +34.2%
     
4/11/1990 216.04 Sell -3.02% $494.95
4/20/1990 205.63 Buy 4.82% $518.80
7/17/1990 238.22 Sell 15.85% $601.02
9/6/1990 191.8 Buy 19.49% $718.13
9/11/1990 192.35 Sell 0.29% $720.19
10/1/1990 184.92 Buy 3.86% $748.01  
10/19/1990 178.57 Sell -3.43% $722.33  
10/26/1990 171.76 Buy 3.81% $749.87  
11/2/1990 180.46 Sell 5.07% $787.86  
11/19/1990 183.32 Buy -1.58% $775.37  
     
1990 Nas-100: -10.4%                      1st Choice Timing: +65.4%  
     
1/4/1991 192.35 Sell 4.93% $813.56  
1/14/1991 195.34 Buy -1.55% $800.92  
5/9/1991 268.71 Sell 37.56% $1,101.74  
6/25/1991 252.45 Buy 6.05% $1,168.41  
     
1991 Nas-100: +65.0%                   1st Choice Timing: +80.5%  
     
2/25/1992 347.81 Sell 37.77% $1,609.76  
3/12/1992 336.47 Cash 3.26% $1,662.25  
3/19/1992 340.86 Sell 0.09% $1,663.69  
4/13/1992 320.55 Buy 5.96% $1,762.82  
4/15/1992 319.23 Sell -0.41% $1,755.56  
4/27/1992 294.62 Buy 7.71% $1,890.90  
5/4/1992 314.77 Sell 6.84% $2,020.22  
6/23/1992 295.29 Buy 6.19% $2,145.25  
     
1992 Nas-100: +8.9%                      1st Choice Timing: +70.9%  
     
3/19/1993 349.42 Sell 18.33% $2,538.49  
4/8/1993 349.01 Buy 0.12% $2,541.47  
7/16/1993 349.06 Sell 0.01% $2,541.84  
8/11/1993 359.4 Buy -2.96% $2,466.54  
11/2/1993 387.93 Sell 7.94% $2,662.34  
11/18/1993 380.57 Buy 1.90% $2,712.85  
     
1993 S&P 500: +10.6%                      1st Choice Timing +8.5%  
     
3/22/1994 410.5 Sell 7.86% $2,926.20  
4/8/1994 383.85 Buy 6.49% $3,116.18  
9/14/1994 407.1 Sell 6.06% $3,304.92  
10/26/1994 405.62 Cash 0.36% $3,316.94  
11/2/1994 408.17 Sell 0.11% $3,320.62  
11/18/1994 409.28 Cash -0.27% $3,311.59  
11/21/1994 397.93 Buy 0.02% $3,312.37  
     
1994 Nas-100: +1.5%                      1st Choice Timing: +18.5%  
     
9/22/1995 587.93 Sell 47.75% $4,893.93  
10/26/1995 593.53 Cash -0.95% $4,847.31  
11/2/1995 621.71 Sell 0.12% $4,852.96  
11/7/1995 598.72 Buy 3.70% $5,032.42  
     
1995 Nas-100: +42.5%                    1st Choice Timing: +43.9%  
     
3/19/1996 615.26 Sell 2.76% $5,171.44  
4/11/1996 605.05 Buy 1.66% $5,257.26  
6/10/1996 690.94 Sell 14.20% $6,003.56  
6/25/1996 659.69 Buy 4.52% $6,275.09  
6/27/1996 677.3 Cash 2.67% $6,442.60  
7/5/1996 656 Buy 0.11% $6,449.70  
7/8/1996 660.76 Cash 0.73% $6,496.50  
7/16/1996 631.3 Buy 0.13% $6,505.20  
7/17/1996 643.74 Sell 1.97% $6,633.39  
7/29/1996 630.32 Buy 2.08% $6,771.67  
8/8/1996 678.31 Sell 7.61% $7,287.24  
9/30/1996 734.5 Buy -8.28% $6,683.58  
10/9/1996 751.44 Sell 2.31% $6,837.72  
10/28/1996 731.21 Buy 2.69% $7,021.81  
11/4/1996 769.89 Sell 5.29% $7,393.25  
11/14/1996 799.44 Buy -3.84% $7,109.48  
12/27/1996 826.49 Cash 3.38% $7,350.04  
12/31/1996 815.6 Buy 0.04% $7,353.20  
     
1996 Nas-100: +42.5%                    1st Choice Timing: +51.8%  
     
3/19/1997 821.73 Sell 0.75% $7,408.46  
4/25/1997 829.39 Cash -0.93% $7,339.40  
5/1/1997 909.49 Buy 0.09% $7,345.98  
5/2/1997 932.77 Sell 2.56% $7,534.01  
5/5/1997 914.9 Buy 1.92% $7,678.35  
7/25/1997 1075.18 Sell 17.52% $9,023.51  
8/15/1997 1089.55 Buy -1.34% $8,902.91  
12/5/1997 1082.92 Cash -0.61% $8,848.73  
12/12/1997 984.38 Buy 0.11% $8,858.75  
     
1997 Nas-100: +20.6%                   1st Choice Timing: +21.3%  
     
1/5/1998 1006.29 Sell 2.23% $9,055.92  
1/9/1998 971.17 Buy 3.49% $9,371.98  
2/2/1998 1111.26 Sell 14.42% $10,723.87  
2/10/1998 1138.81 Buy -2.48% $10,458.01  
4/16/1998 1231.25 Sell 8.12% $11,306.91  
4/27/1998 1222.5 Cash 0.71% $11,387.27  
5/4/1998 1247.27 Sell 0.11% $11,399.69  
6/25/1998 1320.94 Buy -5.91% $10,726.37  
6/26/1998 1339.71 Cash 1.42% $10,878.78  
6/30/1998 1356.14 Buy 0.04% $10,883.53  
7/8/1998 1383.22 Cash 2.00% $11,100.85  
7/9/1998 1391.11 Buy 0.02% $11,103.28  
7/16/1998 1463.97 Sell 5.24% $11,684.82  
8/7/1998 1362.88 Buy 6.91% $12,491.68  
8/17/1998 1401.24 Sell 2.81% $12,843.27  
9/1/1998 1221.44 Buy 12.83% $14,491.25  
     
1998 Nas-100: +85.3%                   1st Choice Timing: +144.3%  
     
1/4/1999 1903 Cash 55.80% $22,577.33  
1/5/1999 1963.95 Sell 0.02% $22,581.76  
1/12/1999 1948.71 Cash 0.78% $22,756.99  
1/13/1999 1906.12 Buy 0.02% $22,761.32  
2/12/1999 1954.49 Sell 2.54% $23,338.91  
4/27/1999 2150.44 Buy -10.03% $20,999.04  
5/4/1999 2155.71 Sell 0.25% $21,050.50  
6/3/1999 2109.41 Buy 2.15% $21,502.62  
6/22/1999 2239.33 Sell 6.16% $22,826.98  
6/25/1999 2243.94 Buy -0.21% $22,779.99  
7/2/1999 2330.73 Cash 3.87% $23,661.06  
7/6/1999 2340.67 Buy 0.02% $23,665.93  
7/8/1999 2393.02 Cash 2.24% $24,195.23  
7/13/1999 2417.05 Buy 0.06% $24,210.09  
7/16/1999 2424.62 Sell 0.31% $24,285.92  
7/23/1999 2233.51 Buy 7.88% $26,200.15  
8/17/1999 2317.39 Sell 3.76% $27,184.10  
8/18/1999 2278.79 Buy 1.67% $27,636.90  
8/24/1999 2460.92 Sell 7.99% $29,845.75  
9/15/1999 2466.88 Buy -0.24% $29,773.46  
11/12/1999 2875.87 Sell 16.58% $34,709.68  
11/18/1999 3028.84 Buy -5.32% $32,863.45  
12/15/1999 3332.31 Cash 10.02% $36,156.15  
     
1999 Nas-100: +102.0%                   1st Choice Timing: +66.5%  
     
1/4/2000 3507.31 Sell 0.31% $36,267.48  
1/12/2000 3612.08 Cash -2.99% $35,184.10  
1/19/2000 3841.74 Sell 0.09% $35,216.55  
1/27/2000 3446.13 Buy 10.30% $38,843.04  
5/2/2000 3562.16 Sell 3.37% $40,150.88  
5/5/2000 3521.6 Buy 1.14% $40,608.04  
6/2/2000 3730.31 Sell 5.93% $43,014.71  
6/27/2000 3771.06 Buy -1.09% $42,544.81  
7/17/2000 3960.96 Sell 5.04% $44,687.25  
9/21/2000 3701.18 Buy 6.56% $47,618.07  
11/2/2000 3321.91 Sell -10.25% $42,738.52  
11/20/2000 2786.53 Buy 16.12% $49,626.52  
     
2000 Nas-100: -36.8%                    1st Choice Timing: +15.0%  
     
2/13/2001 2305.82 Sell -17.25% $41,065.35  
3/12/2001 1789.7 Buy 22.38% $50,257.16  
3/19/2001 1614.47 Sell -9.79% $45,336.47  
4/6/2001 1481.22 Buy 8.25% $49,078.30  
4/18/2001 1953.28 Sell 31.87% $64,719.40  
4/25/2001 1763.33 Buy 9.72% $71,013.15  
5/10/2001 1821.2 Sell 3.28% $73,343.70  
6/26/2001 1756.02 Buy 3.58% $75,968.64  
7/17/2001 1666.87 Sell -5.08% $72,111.84  
9/21/2001 1191.02 Buy 28.55% $92,697.98  
10/10/2001 1389.87 Sell 16.70% $108,174.62  
10/26/2001 1374.58 Buy 1.10% $109,364.66  
     
2001 Nas-100: -32.7%                    1st Choice Timing: +200.9%  
     
1/3/2002 1675.03 Sell 21.86% $133,269.14  
1/14/2002 1612.46 Buy 3.74% $138,247.36  
1/18/2002 1501.78 Sell -6.86% $128,758.00  
3/7/2002 1555.11 Buy -3.55% $124,185.66  
3/19/2002 1451.02 Sell -6.69% $115,873.39  
4/25/2002 1250.89 Buy 13.79% $131,855.08  
5/23/2002 1253.03 Sell 0.17% $132,080.66  
6/25/2002 1027.22 Buy 18.02% $155,883.08  
8/7/2002 947.24 Sell -7.79% $143,745.92  
10/28/2002 960.82 Buy -1.43% $141,685.12  
11/4/2002 1050.39 Sell 9.32% $154,893.36  
11/18/2002 1025.96 Buy 2.33% $158,495.88  
12/10/2002 1036.34 Cash 1.01% $160,099.44  
12/20/2002 1032.3 Buy 0.04% $160,166.81  
     
2002 Nas-100: -37.6%                    1st Choice Timing: +21.7%  
     
1/3/2003 1061.48 Sell 2.83% $164,694.23  
1/13/2003 1094.87 Buy -3.15% $159,513.59  
1/16/2003 1017.58 Cash -7.06% $148,253.08  
1/17/2003 1008.93 Sell 0.01% $148,260.55  
3/12/2003 1029.79 Buy -2.07% $145,195.20  
3/17/2003 1082.19 Cash 5.09% $152,583.33  
3/19/2003 1080.24 Sell 0.01% $152,597.97  
3/28/2003 1018.66 Buy 5.70% $161,296.95  
7/22/2003 1268.52 Sell 24.53% $200,860.36  
10/1/2003 1337.1 Buy -5.41% $190,001.25  
12/11/2003 1417.27 Cash 6.00% $201,393.38  
     
2003 Nas-100: +49.1%                   1st Choice Timing: +31.9%  
     
1/5/2004 1501.26 Sell 0.06% $201,518.41  
1/12/2004 1524.78 Cash -1.57% $198,361.25  
1/16/2004 1552.87 Sell 0.02% $198,393.31  
1/30/2004 1487.84 Buy 4.19% $206,701.50  
2/6/2004 1490.91 Sell 0.21% $207,128.02  
2/20/2004 1463.75 Buy 1.82% $210,901.28  
3/5/2004 1441.12 Sell -1.55% $207,640.69  
3/12/2004 1399.87 Buy 2.86% $213,584.11  
3/15/2004 1407.07 Cash 0.51% $214,682.64  
3/18/2004 1398.58 Buy 0.01% $214,709.17  
4/2/2004 1508.37 Sell 7.85% $231,564.08  
4/27/2004 1453.03 Cash 3.67% $240,059.84  
5/4/2004 1428.42 Sell 0.02% $240,111.03  
5/21/2004 1413.97 Buy 1.01% $242,540.03  
5/24/2004 1447.72 Sell 2.39% $248,329.20  
6/25/2004 1493.07 Cash -3.13% $240,550.27  
7/6/2004 1452.49 Buy 0.04% $240,636.67  
7/8/2004 1440 Cash -0.86% $238,567.44  
7/13/2004 1416.05 Buy 0.02% $238,610.00  
7/16/2004 1396.77 Sell -1.36% $235,361.23  
7/29/2004 1400.39 Buy -0.26% $234,751.25  
8/26/2004 1388.56 Sell -0.84% $232,768.16  
10/11/2004 1435 Buy -3.34% $224,983.30  
12/31/2004 1603.51 Buy 11.74% $251,402.77  
     
2004 Nas-100: +10.4%                   1st Choice Timing: +26.1%  
     
Trades:                    172 (72.67% Winners) 9.55/year  
Largest Gain:            +55.80%  
Largest Loss:            -17.25%  
Total Gain:            +175878.42%      
Comp. Ann. Ret.:   +51.43%      
Percent Invested:         97.20%      
Percent long:             66.40%      
Percent short:            30.81%      
           
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