Very Busy Week Ahead

Earnings Preview 1/27/12

Earnings season will be in full swing this week 468 firms scheduled to report, and 99 of those will be members of the S&P 500. By the end of the week we should have a very good handle on just how weak or strong this earnings season will be.

The firms reporting next week read like a who’s who of American Industry. They include: Aflac ( AFL - Analyst Report ) , Allstate ( ALL - Analyst Report ) , Clorox ( CLX - Analyst Report ) , Dow Chemical ( DOW - Analyst Report ) , International Paper ( IP - Analyst Report ) , Eli Lilly (LLY), Merck (MRK), Pfizer (PFE), United Parcel Service (UPS), and Exxon Mobil (XOM).

It will also be an extremely busy week on the economic data front. We start with Personal Income and Spending, and the Fed’s favorite measure of inflation, the core PCE index, Tuesday brings the Case-Schiller housing price index and Consumer Confidence. Wednesday has the ISM manufacturing data, Auto Sales, and the ADP employment numbers, Thursday brings Productivity and Unit Labor costs. All of that is a prologue to the really big numbers of the week: the Employment Report for January. The market is going to have lots to chew on.

Monday

• Personal Income is expected to rise by 0.4% in December, up from a 0.1% gain in November. The composition of Personal Income can be as important as the total. Last month’s Personal Income growth was even weaker than the 0.1% would indicate, as income from wages and salaries fell, offset by increases in rental income and interest and dividend income.
• Personal Spending (Personal Consumption Expenditures) are expected to have risen by 0.1% matching its November increase. With income rising faster than spending, it will indicate an increasing Savings Rate. Over the long term we need a higher savings rate, as it increases it slows the economy.
• The core Personal Consumption Expenditure inflation rate, the Fed’s favorite measure of inflation, is expected to edge up at a 0.2% rate, up from 0.1% in November.

Tuesday

• The Case-Schiller index is expected to show a year-over-year decline in home prices of 2.6% for November. That would be a major improvement over the 3.4% year-over-year decline in October. Since housing equity still represents the most important store of wealth for the middle class, and housing tends to be a highly leveraged asset, the direction of home prices is vital. Also, if housing prices stop falling, then fewer people will be pushed “underwater” on their mortgages. Being underwater makes you vulnerable to foreclosure. I think we are getting close to a bottom in housing prices, but are not quite there yet. That does not mean that we are likely to get a strong rebound in prices, but rather a long period of bumping along the bottom.
• The Employment Cost Index is expected to have risen by 0.4% in the fourth quarter, up from a 0.3% rise in the third quarter. That is still a very low rate of increase.
• The Chicago PMI, the last of the mini-ISM’s to come out is expected to edge down to 62 for January from 62.5 in December. As a magic 50 index, any reading over 50 indicates expansion. Thus if the consensus is right, the manufacturing economy in the Upper Midwest is still expanding at a brisk rate, but slightly slower than in December.
• The Consumer Confidence Index is expected to increase to 67 for January, up from 64.5 in December. While I think this is an overrated indicator since what consumers say in the surveys is often different from what they actually do, it is better to see it going up than down. It is still at a relatively low level.

Wednesday

• The ADP Employment report is expected to show a gain of 175,000 private sector jobs in January. In December it reported a gain of 325,000 that proved to be far too high relative to the BLS’s “official” count of 212,000 private sector jobs added. In the past, when there has been a big disparity between the two measures, they tend to move closer to each other by the time all the revisions are in, and usually the BLS numbers get revised more. It is still worth noting what the ADP revisions turn out to be.
• The ISM Manufacturing index is expected to show a rise to 54.7 from 53.9 in December. That would indicate that the manufacturing index is expanding at a solid rate, and faster than in December. It is made up of ten sub-indexes. Those can be as interesting and informative as the overall index. In particular, pay close attention to the Production, Backlog, New Orders and Employment sub-indexes.
• Construction Spending is expected to have increased by 0.4% in December, on top of a 1.2% increase in November.
• Auto Sales in January are expected to dip to a seasonally adjusted annual rate of 13.6 million from 13.6 million in December. The December level was the highest since August 2009 (“Cash for Clunkers”). At the bottom of the recession, sales were below a 10 million annual rate, but it is probably going to be a long time before they get back to the 17 million rate they hit before the Great Recession.

Thursday

• Weekly Initial Claims for Unemployment Insurance rose by 21,000 to 377,000. That, however, came after they fell by 52,000 the previous week, and a big jump the week before that. The extreme volatility in recent weeks is probably due to a flawed seasonal adjustment process. Last week’s level is probably about right. The consensus is looking for a small decline to 375,000 These past three weeks illustrate just how volatile week-to-week numbers can be, so the four-week average is the thing to focus on (which reached 377,5000 last week). Keep an eye on the prior week’s revision as well as the change from the revised number.
• Continuing Jobless Claims have been in a downtrend of late, but the road down has been bumpy. Last week they rose by 88,000 to 3.554 million. That is down 465,000, or 11.6%, from a year ago. The consensus is looking for a dip to 3.525 million. Some (most?) of the longer-term decline is due to people simply exhausting their regular state benefits, which run out after 26 weeks. Those, however, don’t last forever either. Federally paid extended claims fell by 146,000 to 3.414 million last week and are down 1.205 million, or 26.0% over the last year. Looking at just the regular continuing claims numbers is a serious mistake. They only include a little over half of the unemployed now, given the unprecedentedly high duration of unemployment figures. A better measure is the total number of people getting unemployment benefits -- currently at 7.638 million. The total number of people getting benefits is now 1.773 million below year-ago levels. What is not known is how many people have left the extended claims via the road to prosperity -- finding a new job -- and how many have left on the road to poverty, having simply exhausted even the extended benefits. Unless the program is renewed, all extended benefits will end at the start of March. Make sure to look at both sets of numbers! Many of the press reports will not, but we will here at Zacks.
• Productivity is expected to have increased by 0.5% in the fourth quarter, down from a 2.3% surge in the third quarter. Over the long term, there is probably no economic measure that is more important than productivity growth, since it ultimately governs GDP per capita, or how wealthy we are as a country adjusted for the number of people we have. However, at times of high unemployment, productivity growth can be a mixed blessing. Making the same amount of stuff with fewer people does not put people to work. This report will also show unit labor costs. They tumbled 2.5% in the third quarter, as the benefits of higher productivity accrued to the owners of capital, not to those that provide labor. They are expected to rise a still relatively low 0.6% in the fourth quarter. Falling unit labor costs are good news for corporate profits.

Friday

• The most important economic report of the week will be the Employment report. It is expected to show a total increase of 145,000 jobs in January, down from 200,000 in December. Once again, the private sector is expected to account for all of the job gains and then some, with 170,000 private sector jobs added offset by 25,000 government jobs lost. In December there were 12,000 government pink slips. Given the relatively low level of initial jobless claims, I will take the over on this one. Make sure to look at the revisions to previous months, which have been very positive of late. The unemployment rate is expected to edge down to 8.5% from 8.6%. I expect it to remain unchanged as more “discouraged” workers find their way back to the workforce, offsetting the job gains. Average hourly earnings are expected to rise 0.2%, matching their December increase. The average workweek is expected to remain steady at 34.4 hours. There are lots of other important numbers in the report. The duration of unemployment numbers are of particular interest given their extremely elevated level.
• The ISM Non Manufacturing or Service index is expected to increase to 53.1 from 52.6 last month. That would indicate that the service side of the economy is expanding at a faster pace than in December, but not doing quite as well as the manufacturing side. As with the manufacturing index, the sub-indexes can be just as informative as the overall index.

Potential Positive or Negative Surprises

The best indicators of firms likely to report positive surprises are a recent history of positive surprises and rising estimates going into the report. The Zacks Rank is also a good indicator of potential surprises. Similarly, a recent history of earnings disappointments, cuts in the average estimate for the quarter in the month before the report is due and a poor Zacks Rank (#4 or #5) are often red flags pointing to a potential disappointing earnings report.

In the Earnings Calendar below, $999.00 should be read as N.A.

Potential Positive Surprises:

• Ryder Systems (R) is expected to earn $0.97, up from $0.65 a year ago. Last time out, it had a positive surprise of 6.86%, and over the last four weeks analysts have raised their estimates for the quarter by 0.40%. R is a Zacks #1 Rank stock.
• Roper Industries (ROP) is expected to earn $1.21, up from $1.10 a year ago. Last time out, it had a positive surprise of 3.70%, and over the last four weeks analysts have raised their estimates for the quarter by 0.03%. ROP is a Zacks #1 Rank stock.
• National Oilwell-Varco (NOV) is expected to earn $1.30, up from $1.05 a year ago. Last time out, it had a positive surprise of 7.69%, and over the last four weeks analysts have raised their estimates for the quarter by 0.89%. NOV is a Zacks #2 Rank stock.

Potential Negative Surprises:

• Beam Inc. (BEAM) is expected to earn $0.67, up from $0.63 a year ago. Last time out, it had a negative surprise of 10.17%, and over the last four weeks analysts have cut their estimates for the quarter by 3.22%. BEAM is a Zacks #5 Rank stock.
• Constellation Energy (CEG) is expected to earn $0.65, up from $0.42 a year ago. Last time out, it had a negative surprise of 23.60%, and over the last four weeks analysts have slashed their estimates for the quarter by 9.49%. CEG is a Zacks #4 Rank stock.
• Kellogg’s (K) is expected to earn $0.63, up from $0.51 a year ago. Last time out, it had a negative surprise of 10.11%, and over the last four weeks analysts have cut their estimates for the quarter by 0.3%. K is a Zacks #2 Rank stock.

Earnings Calendar

Company	Ticker	Qtr End	EPS Est	Year Ago EPS	Last EPS Surprise %	Next EPS Report Date	Time	Daily Price
ABITIBIBOWATER	ABH	201112	$0.50	$999.00	1.92	20120130	AMC	$14.31
ADV ENERGY INDS	AEIS	201112	$0.00	$0.45	10.53	20120130	AMC	$11.03
ALIGN TECH INC	ALGN	201112	$0.22	$0.14	35	20120130	AMC	$24.95
ARRAY BIOPHARMA	ARRY	201112	($0.12)	($0.23)	68.42	20120130	AMC	$2.31
BAIDU INC	BIDU	201112	$0.89	$0.50	1.2	20120130	AMC	$123.90
ACTUATE CORP	BIRT	201112	$0.13	$0.08	0	20120130	AMC	$6.17
CAPITOL FEDL FN	CFFN	201112	$0.10	$0.09	-9.09	20120130		$11.53
ENBRIDGE EGY PT	EEP	201112	$0.36	$0.28	-2.56	20120130	AMC	$33.33
ENBRIDGE ENERGY	EEQ	201112	$0.33	($0.15)	-46.15	20120130	AMC	$34.72
FIRST FINL HLDG	FFCH	201112	$0.10	$0.01	800	20120130	BTO	$9.97
FIRST INTST MT	FIBK	201112	$0.26	$0.23	13.04	20120130	AMC	$13.98
GANNETT INC	GCI	201112	$0.69	$0.83	-2.22	20120130	BTO	$15.35
GRACO INC	GGG	201112	$0.51	$0.44	5.26	20120130	AMC	$43.73
HAEMONETICS CP	HAE	201112	$0.81	$0.89	-6.49	20120130	BTO	$65.48
HOLOGIC INC	HOLX	201112	$0.32	$0.30	3.03	20120130	AMC	$19.34
HEARTLAND FINCL	HTLF	201112	$0.34	$0.31	-41.18	20120130	AMC	$16.98
ICU MEDICAL INC	ICUI	201112	$0.62	$0.72	16.07	20120130	AMC	$44.99
INTEGR DEVICE	IDTI	201112	$0.01	$0.12	-10	20120130	AMC	$6.55
INGLES MARKET A	IMKTA	201112	$0.44	$0.31	12.5	20120130	BTO	$16.97
KILROY REALTY	KRC	201112	$0.60	$0.54	0	20120130	AMC	$41.72
LANDAUER INC	LDR	201112	$0.55	$0.63	12.5	20120130	BTO	$57.65
MCKESSON CORP	MCK	201112	$1.37	$1.12	18.12	20120130	AMC	$78.56
MINDSPEED TECH	MSPD	201112	($0.10)	$0.05	-50	20120130	AMC	$5.63
NAVARRE CORP	NAVR	201112	($0.11)	$0.03	-200	20120130	AMC	$1.45
ORIENTAL FINL	OFG	201112	$0.25	$0.08	25	20120130	AMC	$12.33
OLIN CORP	OLN	201112	$0.23	$0.45	-1.72	20120130	AMC	$21.95
OLD NATL BCP	ONB	201112	$0.21	$0.07	28.57	20120130	BTO	$12.00
PLUM CREEK TMBR	PCL	201112	$0.39	$0.45	3.33	20120130	AMC	$40.36
PAREXEL INTL CP	PRXL	201112	$0.23	$0.29	17.65	20120130	AMC	$20.62
RENT-A-CENTER	RCII	201112	$0.82	$0.71	3.45	20120130	AMC	$37.38
REINSURANCE GRP	RGA	201112	$1.84	$2.15	9.09	20120130	AMC	$56.52
RUDOLPH TECH	RTEC	201112	$0.06	$0.32	128.57	20120130	AMC	$10.05
STANCORP FNL CP	SFG	201112	$0.79	$1.14	45.45	20120130	AMC	$38.56
SL GREEN REALTY	SLG	201112	$1.00	$0.93	1.01	20120130	AMC	$73.82
SOLUTIA INC	SOA	201112	$0.47	$0.36	7.14	20120130	AMC	$19.51
TRIUMPH GRP INC	TGI	201112	$1.13	$0.89	10.58	20120130	AMC	$59.76
THOMAS & BETTS	TNB	201112	$0.90	$0.77	11.96	20120130	BTO	$57.70
WENDYS CO/THE	WEN	201112	$0.04	$0.01	0	20120130	BTO	$5.26
WISDOMTREE INV	WETF	201112	$0.01	($0.01)	0	20120130	BTO	$6.34
WOLVERINE WORLD	WWW	201112	$0.45	$0.52	4.35	20120130	BTO	$38.05
ACE LIMITED	ACE	201112	$1.83	$2.05	24.02	20120131	AMC	$71.25
AXCELIS TECH	ACLS	201112	($0.04)	$0.02	0	20120131	AMC	$1.87
ACXIOM CORP	ACXM	201112	$0.20	$0.25	11.76	20120131	AMC	$13.77
ARCHER DANIELS	ADM	201112	$0.77	$1.14	-1.45	20120131	BTO	$29.84
AFLAC INC	AFL	201112	$1.51	$1.33	3.75	20120131	AMC	$48.78
ALLIANCE FIBER	AFOP	201112	$0.12	$0.19	0	20120131	AMC	$8.30
GALLAGHER ARTHU	AJG	201112	$0.34	$0.43	-2.27	20120131	AMC	$33.51
APPLD MICRO CIR	AMCC	201112	($0.10)	$0.03	72.73	20120131	AMC	$8.10
AFFIL MANAGERS	AMG	201112	$1.74	$2.02	1.97	20120131	BTO	$102.61
AMAZON.COM INC	AMZN	201112	$0.16	$0.91	-39.13	20120131	AMC	$193.32
ARM HOLDNGS ADR	ARMH	201112	$0.11	$0.11	10	20120131	BTO	$27.94
AVERY DENNISON	AVY	201112	$0.46	$0.98	-17.24	20120131	BTO	$29.24
ANIXTER INTL	AXE	201112	$1.41	$1.19	7.75	20120131	BTO	$68.11
ASPEN TECH INC	AZPN	201112	($0.08)	($0.11)	-18.18	20120131	AMC	$18.01
BBCN BANCORP	BBCN	201112	$0.16	$0.13	43.75	20120131	AMC	$10.17
BLACK BOX CORP	BBOX	201112	$0.81	$0.83	13.41	20120131	AMC	$31.13
BARD C R INC	BCR	201112	$1.68	$1.54	1.25	20120131	AMC	$93.24
BERKSHIRE HILLS	BHLB	201112	$0.44	$0.26	2.38	20120131	AMC	$22.76
BIOGEN IDEC INC	BIIB	201112	$1.46	$1.41	3.97	20120131	BTO	$117.85
BRYN MAWR BK CP	BMTC	201112	$0.39	$0.46	-2.5	20120131	AMC	$20.42
BROADCOM CORP-A	BRCM	201112	$0.40	$0.58	-11.11	20120131	AMC	$35.29
BOSTON PPTYS	BXP	201112	$1.19	$1.14	3.23	20120131	AMC	$103.68
CONCURRENT NEW	CCUR	201112	($0.11)	($0.14)	-1450	20120131	AMC	$3.57
CELANESE CP-A	CE	201112	$0.63	$0.73	14.41	20120131	BTO	$48.26
CEVA INC	CEVA	201112	$0.18	$0.18	25	20120131	BTO	$28.02
CH ROBINSON WWD	CHRW	201112	$0.68	$0.62	0	20120131	AMC	$69.47
CIT GROUP	CIT	201112	$0.17	$0.37	239.29	20120131	BTO	$38.00
CNH GLOBAL NV	CNH	201112	$0.72	$0.90	37.8	20120131	BTO	$46.13
CAPITAL PRODUCT	CPLP	201112	$0.06	$0.06	-85.71	20120131	BTO	$7.64
CYTEC INDS INC	CYT	201112	$0.45	$0.83	34.15	20120131	AMC	$49.47
DANAHER CORP	DHR	201112	$0.78	$0.67	4.29	20120131	BTO	$52.64
DOLBY LAB INC-A	DLB	201112	$0.64	$0.65	18.33	20120131	AMC	$35.72
ENERSIS S A ADR	ENI	201112	$0.40	$0.50	N/A	20120131		$17.63
ENDESA-CHILE	EOC	201112	$0.84	$1.30	-51.72	20120131		$46.71
ENTERGY CORP	ETR	201112	$0.96	$1.30	5.06	20120131	BTO	$71.30
FLUSHING FINL	FFIC	201112	$0.29	$0.28	0	20120131		$13.14
FEMALE HEALTH	FHCO	201112	$0.01	$0.01	-36.36	20120131	BTO	$5.13
FIRST MARBLEHD	FMD	201112	($0.15)	($0.07)	-1350	20120131	AMC	$1.31
FORTINET INC	FTNT	201112	$0.10	$0.10	37.5	20120131	AMC	$22.86
GRIFFON CORP	GFF	201112	$0.05	$0.11	-36.36	20120131	AMC	$10.46
G&K SVCS A	GKSR	201112	$0.47	$0.41	4.65	20120131	BTO	$33.45
GLADSTONE CAPTL	GLAD	201112	$0.22	$0.22	0	20120131	AMC	$9.14
GENL MARITIME	GMR	201112	($0.33)	($0.46)	-58.62	20120131	AMC	$0.02
GENTEX CORP	GNTX	201112	$0.30	$0.26	3.45	20120131	BTO	$30.66
HAWAIIAN HLDGS	HA	201112	$0.28	$0.21	22.92	20120131	AMC	$6.60
HARTE-HANKS INC	HHS	201112	$0.23	$0.24	-5	20120131	BTO	$9.97
HARMONIC INC	HLIT	201112	$0.09	$0.07	16.67	20120131	AMC	$5.95
HELMERICH&PAYNE	HP	201112	$1.16	$0.94	4.81	20120131	BTO	$60.76
HARRIS CORP	HRS	201112	$1.18	$1.15	0.95	20120131	BTO	$39.25
HEADWATERS INC	HW	201112	($0.13)	($0.34)	16.67	20120131	BTO	$2.39
MARINEMAX INC	HZO	201112	($0.20)	($0.21)	-283.33	20120131	BTO	$8.28
ILLUMINA INC	ILMN	201112	$0.29	$0.29	0	20120131	AMC	$52.65
ILL TOOL WORKS	ITW	201112	$0.88	$0.79	2.04	20120131	BTO	$53.01
INTEVAC INC	IVAC	201112	($0.28)	$0.05	3.57	20120131	AMC	$8.43
IXYS CORP	IXYS	201112	$0.25	$0.24	20.69	20120131	AMC	$13.69
JDA SOFTWARE GP	JDAS	201112	$0.56	$0.56	65.71	20120131	AMC	$29.64
JACK HENRY ASSC	JKHY	201112	$0.43	$0.42	2.44	20120131	AMC	$34.41
JONES LANG LASL	JLL	201112	$2.23	$1.94	2.75	20120131	AMC	$75.31
KEYNOTE SYSTEMS	KEYN	201112	$0.18	$0.23	-4.35	20120131	AMC	$20.43
KULICKE & SOFFA	KLIC	201112	$0.04	$0.21	3.7	20120131	BTO	$11.07
KEY TRONIC	KTCC	201112	$0.18	$0.17	N/A	20120131	AMC	$6.30
LAN CHILE-ADR	LFL	201112	$0.43	$0.49	21.74	20120131	AMC	$24.87
L-3 COMM HLDGS	LLL	201112	$2.41	$2.37	4.19	20120131	BTO	$70.07
LILLY ELI & CO	LLY	201112	$0.80	$1.11	0	20120131	BTO	$39.44
LEXMARK INTL	LXK	201112	$1.15	$1.29	-6.86	20120131	BTO	$35.08
MANHATTAN ASOC	MANH	201112	$0.42	$0.29	37.21	20120131	AMC	$43.30
MATTEL INC	MAT	201112	$1.01	$0.89	0	20120131	BTO	$29.55
MCGRAW-HILL COS	MHP	201112	$0.57	$0.55	-1.63	20120131	BTO	$46.85
MEDICAL PPTYS	MPW	201112	$0.21	$0.17	0	20120131	AMC	$10.65
MIDSOUTH BANCRP	MSL	201112	$0.11	$0.16	40	20120131		$13.24
MERITAGE HOMES	MTH	201112	$0.07	($0.01)	-242.86	20120131	BTO	$27.70
MANITOWOC INC	MTW	201112	$0.13	$0.11	5.88	20120131	AMC	$12.56
MUELLER WATER	MWA	201112	($0.07)	($0.06)	-400	20120131	AMC	$2.76
MYRIAD GENETICS	MYGN	201112	$0.31	$0.26	7.41	20120131	AMC	$23.08
NATL INSTRS CP	NATI	201112	$0.21	$0.32	-4.55	20120131	AMC	$26.60
INERGY LP	NRGY	201112	$0.38	$0.81	-71.43	20120131	BTO	$22.68
OSHKOSH CORP	OSK	201112	$0.32	$1.09	54.84	20120131	BTO	$24.80
PACCAR INC	PCAR	201112	$0.79	$0.45	10	20120131	BTO	$44.55
POTLATCH CORP	PCH	201112	$0.13	$0.22	18.18	20120131	BTO	$33.50
PATRIOT COAL CP	PCX	201112	($0.27)	($0.28)	1.82	20120131	BTO	$8.23
PFIZER INC	PFE	201112	$0.47	$0.47	10.71	20120131	BTO	$21.63
PLANTRONICS INC	PLT	201112	$0.62	$0.57	9.09	20120131	AMC	$37.98
PENTAIR INC	PNR	201112	$0.54	$0.49	0	20120131	BTO	$36.68
POWELL INDS	POWL	201112	$0.21	$0.21	6.67	20120131	AMC	$34.23
PROVIDENT FINL	PROV	201112	$0.22	$0.37	-4.76	20120131	BTO	$9.47
PERICOM SEMICON	PSEM	201112	$0.00	$0.12	0	20120131	AMC	$8.30
QIAGEN NV	QGEN	201112	$0.28	$0.26	4.76	20120131	AMC	$16.54
RADISYS CORP	RSYS	201112	($0.07)	$0.03	54.55	20120131	AMC	$6.26
RTI BIOLOGICS	RTIX	201112	$0.03	$0.05	66.67	20120131	BTO	$4.08
SAIA INC	SAIA	201112	$0.14	$0.04	20	20120131	BTO	$14.67
SILGAN HOLDINGS	SLGN	201112	$0.54	$0.42	2.7	20120131	AMC	$40.61
SEAGATE TECH	STX	201112	$1.09	$0.33	9.68	20120131	AMC	$19.80
SUNCOR ENERGY	SU	201112	$0.88	$0.65	-9.88	20120131	BTO	$34.31
THL CREDIT INC	TCRD	201112	$0.29	$0.17	7.41	20120131	AMC	$13.20
TECHNE CORP	TECH	201112	$0.79	$0.71	-1.22	20120131	BTO	$70.48
TELLABS INC	TLAB	201112	($0.02)	$0.02	0	20120131	BTO	$4.22
TYCO INTL LTD	TYC	201112	$0.79	$0.75	6.98	20120131	BTO	$49.27
UBIQUITI NETWRK	UBNT	201112	$0.25	$999.00	N/A	20120131	AMC	$21.00
UNISYS	UIS	201112	$1.50	$2.20	132.86	20120131	AMC	$20.12
UTD PARCEL SRVC	UPS	201112	$1.26	$1.08	0.95	20120131	BTO	$75.84
UNITIL CORP	UTL	201112	$0.62	$0.48	-10	20120131	AMC	$28.31
VALERO ENERGY	VLO	201112	($0.25)	$0.39	21.26	20120131	BTO	$23.89
VIRTUSA CORP	VRTU	201112	$0.20	$0.17	0	20120131	AMC	$15.99
VISION-SCIENCES	VSCI	201112	($0.05)	($0.07)	N/A	20120131	AMC	$1.81
WEBSENSE INC	WBSN	201112	$0.33	$0.19	-3.13	20120131	AMC	$18.86
WADDELL&REED -A	WDR	201112	$0.48	$0.54	-9.8	20120131	BTO	$29.36
WESTPORT INNOV	WPRT	201112	($0.16)	($0.31)	-8	20120131	AMC	$38.53
BERKLEY (WR) CP	WRB	201112	$0.48	$0.68	12.82	20120131	AMC	$35.08
UTD STATES STL	X	201112	($0.82)	($1.81)	30.91	20120131	BTO	$29.37
EXXON MOBIL CRP	XOM	201112	$2.01	$1.85	0.95	20120131	BTO	$86.77
ADVISORY BOARD	ABCO	201112	$0.48	$0.28	15	20120201	AMC	$79.57
AETNA INC-NEW	AET	201112	$0.98	$0.63	22.81	20120201	BTO	$42.61
AFFYMETRIX INC	AFFX	201112	($0.07)	$0.05	-225	20120201	AMC	$4.72
AMER FINL GROUP	AFG	201112	$0.96	$1.03	5.88	20120201	AMC	$37.22
AGILYSYS INC	AGYS	201112	($0.06)	$0.08	22.22	20120201	BTO	$8.46
ASSURANT INC	AIZ	201112	$1.37	$1.08	2.6	20120201	AMC	$39.82
ALLEGIANT TRAVL	ALGT	201112	$0.56	$0.64	6.52	20120201	AMC	$54.93
ALLSTATE CORP	ALL	201112	$0.96	$0.50	45.45	20120201	AMC	$29.15
AUTOLIV INC	ALV	201112	$1.66	$1.94	-0.67	20120201	BTO	$63.92
AMYLIN PHARMA	AMLN	201112	($0.23)	($0.08)	53.33	20120201	AMC	$11.94
AMERIPRISE FINL	AMP	201112	$1.36	$1.21	-14.75	20120201	AMC	$54.68
AMER SUPERCON	AMSC	201112	($0.45)	$0.33	34.25	20120201	BTO	$5.15
AOL INC	AOL	201112	$0.17	$0.65	0	20120201	BTO	$15.72
ARROW ELECTRONI	ARW	201112	$1.29	$1.29	1.69	20120201	BTO	$41.23
AMERISTAR CASIN	ASCA	201112	$0.34	$0.19	-9.52	20120201	BTO	$19.82
ATMI INC	ATMI	201112	$0.12	$0.19	0	20120201	BTO	$23.34
ATWOOD OCEANICS	ATW	201112	$1.03	$0.81	9.8	20120201	AMC	$44.65
AUDIOCODES LTD	AUDC	201112	$0.02	$0.08	-114.29	20120201	BTO	$4.18
AVALONBAY CMMTY	AVB	201112	$1.21	$1.01	-0.85	20120201	AMC	$134.89
AVIAT NETWORKS	AVNW	201112	($0.04)	($0.15)	100	20120201	AMC	$2.11
BRIDGE CAP HLDG	BBNK	201112	$0.16	($0.01)	25	20120201	BTO	$10.65
BE AEROSPACE	BEAV	201112	$0.56	$0.47	5.45	20120201	BTO	$41.64
FRANKLIN RESOUR	BEN	201112	$2.10	$2.23	-5.53	20120201	BTO	$106.68
BMC SOFTWARE	BMC	201112	$0.70	$0.69	5.63	20120201	AMC	$35.59
BOK FINL CORP	BOKF	201112	$1.10	$0.86	18.1	20120201		$56.15
BALLY TECH INC	BYI	201112	$0.51	$0.44	4.65	20120201	AMC	$41.38
CACI INTL A	CACI	201112	$1.29	$1.08	26.13	20120201	AMC	$59.20
CABOT CORP	CBT	201112	$0.55	$1.16	15.79	20120201	AMC	$35.62
CROWN HLDGS INC	CCK	201112	$0.47	$0.42	2.02	20120201	AMC	$36.49
CADENCE DESIGN	CDNS	201112	$0.12	$0.03	0	20120201	AMC	$10.70
BRIGHTPOINT INC	CELL	201112	$0.30	$0.31	23.81	20120201	AMC	$11.79
CENTRAL GARDEN	CENT	201112	($0.26)	($0.16)	-250	20120201	AMC	$8.87
CHIPOTLE MEXICN	CMG	201112	$1.82	$1.47	2.7	20120201	AMC	$365.81
CAPSTEAD MTG	CMO	201112	$0.41	$0.40	N/A	20120201	AMC	$12.96
COSTAMARE INC	CMRE	201112	$0.47	$0.10	8.51	20120201	AMC	$15.06
CONCUR TECH INC	CNQR	201112	$0.09	$0.15	6.25	20120201	AMC	$53.51
CORINTHIAN COL	COCO	201112	$0.00	$0.23	-100	20120201	BTO	$2.94
COHU INC	COHU	201112	$0.05	$0.44	112.5	20120201	AMC	$13.23
CENTRAL VLY COM	CVCY	201112	$0.15	$0.06	-7.14	20120201	AMC	$6.13
COMMVAULT SYSTM	CVLT	201112	$0.18	$0.16	21.43	20120201	BTO	$48.04
COVENANT TRANS	CVTI	201112	($0.08)	$0.05	-20	20120201	AMC	$3.57
AMDOCS LTD	DOX	201112	$0.59	$0.47	0	20120201	AMC	$29.57
DSP GROUP INC	DSPG	201112	($0.25)	($0.27)	52.63	20120201	BTO	$5.78
DAWSON GEOPHYS	DWSN	201112	$0.26	($0.21)	42.31	20120201	BTO	$36.09
ELECTR ARTS INC	EA	201112	$0.83	$0.45	46.67	20120201	AMC	$17.66
EDUCATION MANAG	EDMC	201112	$0.46	$0.64	14.29	20120201	AMC	$25.85
ENERGIZER HLDGS	ENR	201112	$1.91	$1.68	-12	20120201	BTO	$79.56
ENTEGRIS INC	ENTG	201112	$0.13	$0.23	-10.53	20120201	BTO	$9.69
ENTROPIC COMMUN	ENTR	201112	$0.07	$0.20	-28.57	20120201	AMC	$6.09
ENTERPRISE PROD	EPD	201112	$0.56	$0.46	10	20120201	BTO	$49.63
EQUITY RESIDENT	EQR	201112	$0.65	$0.62	1.64	20120201	AMC	$59.25
ESSEX PPTY TR	ESS	201112	$1.52	$1.28	0	20120201	AMC	$145.60
EXAR CORP	EXAR	201112	($0.03)	($0.07)	-133.33	20120201	AMC	$6.69
EXPONENT INC	EXPO	201112	$0.43	$0.41	17.65	20120201	AMC	$48.77
FORTUNE BRD H&S	FBHS	201112	$0.15	$999.00	-17.39	20120201	AMC	$17.91
FOX CHASE BANCP	FXCB	201112	$0.09	$0.07	-10	20120201	AMC	$12.73
GLADSTONE INVES	GAIN	201112	$0.15	$0.34	15.38	20120201	AMC	$7.85
CGI GRP INC -A	GIB	201112	$0.40	$0.46	0	20120201	BTO	$19.33
GREEN MTN COFFE	GMCR	201112	$0.36	$0.18	-2.08	20120201	AMC	$49.34
GRACE (WR) NEW	GRA	201112	$0.87	$0.62	9.43	20120201	BTO	$51.86
GT ADV TECH INC	GTAT	201112	$0.08	$0.46	20.83	20120201	AMC	$8.62
HAIN CELESTIAL	HAIN	201112	$0.49	$0.39	3.57	20120201	AMC	$37.24
HANESBRANDS INC	HBI	201112	$0.51	$0.42	10.98	20120201	BTO	$24.00
HERITAGE FIN CP	HFWA	201112	$0.14	$0.77	-7.69	20120201	BTO	$13.98
HILLENBRAND INC	HI	201112	$0.36	$0.44	29.73	20120201	AMC	$23.60
HERSHEY CO/THE	HSY	201112	$0.70	$0.61	0	20120201	BTO	$61.53
HUDSON VLY HLDG	HVB	201112	$0.42	$0.37	23.08	20120201	BTO	$22.08
HAWKINS INC	HWKN	201112	$0.15	$0.41	6.56	20120201	AMC	$40.66
IAC/INTERACTIV	IACI	201112	$0.42	$0.06	13.89	20120201	BTO	$41.48
INTERACT INTELL	ININ	201112	$0.31	$0.49	-18.52	20120201	AMC	$26.23
INFOSPACE INC	INSP	201112	$0.09	$0.00	-9.09	20120201	AMC	$12.12
INPHI CORP	IPHI	201112	($0.05)	$0.06	0	20120201	AMC	$15.84
INTERSIL CORP	ISIL	201112	$0.06	$0.17	25	20120201	AMC	$11.57
INVEST TECH-NEW	ITG	201112	$0.11	$0.11	4.17	20120201	BTO	$11.24
JDS UNIPHASE CP	JDSU	201112	$0.04	$0.25	-11.11	20120201	AMC	$13.47
KAISER FEDL FIN	KFFG	201112	$0.23	$0.24	-12	20120201		$13.04
KEMPER CORP	KMPR	201112	$0.73	$0.61	-69.23	20120201	AMC	$29.75
LIQUIDITY SVCS	LQDT	201112	$0.23	$0.13	57.14	20120201	BTO	$34.80
LAS VEGAS SANDS	LVS	201112	$0.56	$0.42	3.77	20120201	AMC	$48.97
MANPOWER INC WI	MAN	201112	$0.88	$0.66	2.11	20120201	BTO	$42.21
MEDICAL ACTION	MDCI	201112	$0.04	$0.14	-83.33	20120201	BTO	$5.48
MEASUREMNT SPCL	MEAS	201112	$0.34	$0.49	-10.64	20120201	AMC	$32.78
MEDIFAST INC	MED	201112	$0.21	$0.23	-2.7	20120201	AMC	$16.04
MERU NETWORKS	MERU	201112	($0.44)	($0.06)	-3.45	20120201	AMC	$5.09
MULTIMEDIA GAME	MGAM	201112	$0.04	($0.05)	450	20120201	BTO	$7.79
MARKEL CORP	MKL	201112	$4.40	$13.40	33.01	20120201	AMC	$400.85
MKS INSTRUMENTS	MKSI	201112	$0.24	$0.67	20.83	20120201	AMC	$30.43
MARKETAXESS HLD	MKTX	201112	$0.29	$0.23	21.43	20120201	BTO	$31.00
MARATHON PETROL	MPC	201112	($0.06)	$999.00	30.58	20120201	BTO	$37.51
MARATHON OIL CP	MRO	201112	$0.85	$1.09	-30.59	20120201		$31.54
MATTSON TECH	MTSN	201112	($0.10)	($0.16)	55.56	20120201	AMC	$2.23
MAGNACHIP SEMI	MX	201112	$0.20	$0.05	9.76	20120201	AMC	$8.53
NASDAQ OMX GRP	NDAQ	201112	$0.62	$0.55	0	20120201	BTO	$25.83
NETLOGIC MCRSYS	NETL	201112	$0.20	$0.29	50	20120201	AMC	$49.75
NEWMARKET CORP	NEU	201112	$3.42	$3.16	7.69	20120201	AMC	$216.39
NEWPORT CORP	NEWP	201112	$0.34	$0.40	-9.09	20120201	AMC	$17.99
NISOURCE INC	NI	201112	$0.35	$0.34	10	20120201	BTO	$23.37
NORTHROP GRUMMN	NOC	201112	$1.68	$1.27	-2.98	20120201	BTO	$59.32
NETQIN MOBILE	NQ	201112	$0.06	($0.33)	50	20120201	AMC	$6.99
O2MICRO INT LTD	OIIM	201112	$0.00	$0.08	33.33	20120201	BTO	$4.60
OPENWAVE SYS	OPWV	201112	($0.09)	($0.04)	214.29	20120201	AMC	$2.08
OPEN TEXT CORP	OTEX	201112	$1.18	$1.17	3.33	20120201	AMC	$53.11
PENNYMAC MORTGE	PMT	201112	$0.67	$0.43	37.74	20120201	BTO	$17.74
QUALCOMM INC	QCOM	201112	$0.81	$0.69	-1.45	20120201	AMC	$57.81
QUINSTREET INC	QNST	201112	$0.17	$0.21	0	20120201	AMC	$9.74
RADWARE LTD	RDWR	201112	$0.32	$0.22	3.7	20120201	BTO	$31.94
REGENCY CTRS CP	REG	201112	$0.62	$999.00	1.67	20120201	AMC	$41.42
REALD INC	RLD	201112	($0.06)	($0.34)	57.14	20120201	AMC	$8.96
RIGHTNOW TECH	RNOW	201112	$0.02	$0.11	0	20120201	AMC	$43.00
SHUTTERFLY INC	SFLY	201112	$0.82	$1.09	43.24	20120201	AMC	$24.85
SANGAMO BIOSCI	SGMO	201112	($0.13)	($0.18)	-12.5	20120201	AMC	$3.25
SHORETEL INC	SHOR	201112	($0.08)	($0.08)	-12.5	20120201	AMC	$7.13
SOLERA HOLDINGS	SLH	201112	$0.65	$0.56	0	20120201	AMC	$48.22
SENSATA TECHNOL	ST	201112	$0.44	$0.45	0	20120201	BTO	$29.24
STANLEY FURN CO	STLY	201112	($0.07)	($0.48)	-50	20120201	BTO	$3.46
SCHWEITZER-MAUD	SWM	201112	$1.86	$1.07	1.32	20120201	AMC	$67.50
SYMETRA FINL CP	SYA	201112	$0.34	$0.35	2.94	20120201	AMC	$9.10
THERMO FISHER	TMO	201112	$1.15	$1.00	0	20120201	BTO	$52.31
TRANSATLAN HLDG	TRH	201112	$0.01	$2.09	-21.85	20120201	AMC	$55.19
TRACTOR SUPPLY	TSCO	201112	$0.91	$0.67	11.54	20120201	AMC	$79.84
TETRA TECH NEW	TTEK	201112	$0.36	$0.34	5	20120201	AMC	$22.72
TUPPERWARE BRND	TUP	201112	$1.53	$1.38	0	20120201	BTO	$62.86
VASCULAR SOLUTN	VASC	201112	$0.13	$0.12	-50	20120201	AMC	$11.10
VANGUARD HEALTH	VHS	201112	$0.19	$999.00	26.67	20120201	BTO	$11.27
VULCAN MATLS CO	VMC	201112	($0.38)	($0.36)	-285.71	20120201	AMC	$43.25
WHIRLPOOL CORP	WHR	201112	$2.06	$2.11	-12.31	20120201	BTO	$54.42
YUM! BRANDS INC	YUM	201112	$0.74	$0.63	1.22	20120201	AMC	$62.48
ABIOMED INC	ABMD	201112	($0.01)	($0.01)	137.5	20120202	BTO	$18.05
AECOM TECH CORP	ACM	201112	$0.47	$0.48	2.74	20120202	BTO	$23.19
ALLIANCE DATA	ADS	201112	$1.35	$1.27	21.35	20120202	BTO	$110.20
ALLERGAN INC	AGN	201112	$1.00	$0.88	2.22	20120202	BTO	$88.97
ALKERMES INC	ALKS	201112	($0.22)	($0.12)	-40	20120202	AMC	$19.28
ACME PACKET INC	APKT	201112	$0.19	$0.21	-14.29	20120202	AMC	$30.51
ALLIANT TECHSYS	ATK	201112	$2.02	$1.98	3.43	20120202	BTO	$58.39
ASTRAZENECA PLC	AZN	201112	$1.60	$1.35	1.79	20120202	BTO	$47.90
CREDICORP LTD	BAP	201112	$2.11	$1.62	1.42	20120202	AMC	$112.63
BRINKS CO THE	BCO	201112	$0.63	$0.73	6.12	20120202	BTO	$28.47
BEBE STORES INC	BEBE	201112	$0.07	$0.02	200	20120202	AMC	$8.55
BENCHMARK ELETR	BHE	201112	$0.08	$0.37	9.68	20120202	BTO	$17.17
BLACK HILLS COR	BKH	201112	$0.57	$0.41	2.78	20120202	AMC	$34.43
BOFI HLDG INC	BOFI	201112	$0.55	$0.45	7.41	20120202		$16.57
BRISTOW GROUP	BRS	201112	$0.88	$0.71	-26.74	20120202	AMC	$48.48
BOSTON SCIENTIF	BSX	201112	$0.08	$0.20	87.5	20120202	BTO	$5.96
BALDWIN&LYONS B	BWINB	201112	$0.10	$0.43	-6.52	20120202	BTO	$22.56
BLACKSTONE GRP	BX	201112	$0.37	$0.46	-720	20120202	BTO	$15.60
BEAZER HOMES	BZH	201112	($0.35)	($0.63)	-46.87	20120202	BTO	$3.23
CARDINAL HEALTH	CAH	201112	$0.76	$0.69	1.39	20120202	BTO	$42.12
CAMERON INTL	CAM	201112	$0.77	$0.69	5.41	20120202	BTO	$52.95
CARDTRONICS INC	CATM	201112	$0.33	$0.24	18.18	20120202	AMC	$26.93
CAVIUM INC	CAVM	201112	($0.04)	$0.18	72.73	20120202	AMC	$34.00
CBRE GROUP INC	CBG	201112	$0.44	$0.36	0	20120202	AMC	$19.01
CAREFUSION CORP	CFN	201112	$0.43	$0.44	0	20120202	AMC	$24.16
CIGNA CORP	CI	201112	$1.18	$1.15	-1.64	20120202	BTO	$44.10
CORE LABS NV	CLB	201112	$1.08	$0.84	-11	20120202		$108.97
CALAMOS ASSET-A	CLMS	201112	$0.22	$0.28	28	20120202	AMC	$12.35
CME GROUP INC	CME	201112	$3.68	$3.77	2.16	20120202	BTO	$240.45
CUMMINS INC	CMI	201112	$2.23	$1.84	-2.22	20120202	BTO	$107.25
CON-WAY INC	CNW	201112	$0.36	$0.02	1.92	20120202	AMC	$32.36
COGO GROUP INC	COGO	201112	$0.04	$0.04	-11.11	20120202	AMC	$2.21
COLUMBIA SPORTS	COLM	201112	$1.08	$0.77	21.25	20120202	AMC	$47.70
CAMDEN PPTY TR	CPT	201112	$0.83	$999.00	0	20120202	AMC	$64.18
COMPLETE PRODUC	CPX	201112	$0.87	$0.49	2.7	20120202	BTO	$31.12
CARLISLE COS IN	CSL	201112	$0.63	$0.51	3.66	20120202	BTO	$48.18
CONSTANT CONTAC	CTCT	201112	$0.14	$0.05	38.46	20120202	AMC	$25.35
CUBIC CORP	CUB	201112	$0.67	$0.74	16.88	20120202	BTO	$45.63
CYMER INC	CYMI	201112	$0.20	$1.08	0	20120202	AMC	$50.56
DICE HOLDINGS	DHX	201112	$0.15	$0.10	0	20120202	BTO	$9.77
DIAMOND OFFSHOR	DO	201112	$0.99	$1.74	25.85	20120202	BTO	$62.58
DOW CHEMICAL	DOW	201112	$0.32	$0.47	-3.13	20120202	BTO	$33.41
DIGITAL RIVER	DRIV	201112	$0.23	$0.20	46.15	20120202	AMC	$15.95
EMPIRE DISTRICT	EDE	201112	$0.20	$0.20	-4.76	20120202	AMC	$20.97
NIC INC	EGOV	201112	$0.08	$0.08	22.22	20120202	AMC	$12.29
BOTTOMLINE TECH	EPAY	201112	$0.19	$0.16	0	20120202	AMC	$27.14
EVERCORE PARTNR	EVR	201112	$0.28	$0.27	35.29	20120202	BTO	$28.59
EDWARDS LIFESCI	EW	201112	$0.59	$0.55	-2.56	20120202	AMC	$78.27
EXAMWORKS GROUP	EXAM	201112	($0.11)	($0.08)	-33.33	20120202	AMC	$10.00
EAGLE MATERIALS	EXP	201112	$0.12	$0.12	-17.65	20120202	BTO	$29.49
EXTREME NETWRKS	EXTR	201112	$0.05	$0.05	200	20120202	AMC	$3.18
ENERGY XXI LTD	EXXI	201112	$0.66	$0.24	28	20120202		$32.55
FISERV INC	FISV	201112	$1.27	$1.06	1.75	20120202	AMC	$63.26
GLOBAL GEOPHYS	GGS	201112	$0.14	($0.05)	-84.62	20120202	BTO	$8.96
GILEAD SCIENCES	GILD	201112	$1.00	$0.90	1.04	20120202	AMC	$48.59
GENWORTH FINL	GNW	201112	$0.18	($0.28)	5	20120202	AMC	$7.80
GOODRICH CORP	GR	201112	$1.57	$1.13	13.33	20120202	BTO	$124.50
US GLOBAL INVS	GROW	201112	$0.07	$0.15	-54.55	20120202		$7.19
HAYNES INTL INC	HAYN	201112	$0.79	$0.43	13.58	20120202	AMC	$60.99
STARWOOD HOTELS	HOT	201112	$0.57	$0.52	7.69	20120202	BTO	$53.74
IKANOS COMM INC	IKAN	201112	($0.01)	$0.00	50	20120202	AMC	$0.88
INTERMEC INC	IN	201112	$0.18	$0.13	-10	20120202	AMC	$8.38
INFINERA CORP	INFN	201112	($0.23)	($0.03)	0	20120202	AMC	$7.39
INTL PAPER	IP	201112	$0.61	$0.68	15	20120202	BTO	$31.25
INTL RECTIFIER	IRF	201112	($0.05)	$0.62	-16.22	20120202	AMC	$22.80
ITERIS INC	ITI	201112	$0.01	$0.03	-100	20120202	AMC	$1.40
INVACARE CORP	IVC	201112	$0.66	$0.65	-3.28	20120202	BTO	$16.70
KELLOGG CO	K	201112	$0.63	$0.51	-10.11	20120202	BTO	$49.99
KAYNE ANDSN EGY	KED	201111	$0.59	($0.10)	-30.77	20120202	AMC	$22.37
KELLY SVCS A	KELYA	201112	$0.43	$0.39	23.81	20120202	BTO	$16.90
KEMET CORP	KEM	201112	$0.06	$0.59	-17.39	20120202	BTO	$9.58
KIRBY CORP	KEX	201112	$1.00	$0.59	2.17	20120202	AMC	$68.43
KENSEY NASH CP	KNSY	201112	$0.54	$0.38	3.23	20120202	BTO	$21.66
LEAR CORPORATN	LEA	201112	$1.18	$1.19	-5.26	20120202	BTO	$42.21
LENNOX INTL INC	LII	201112	$0.49	$0.55	3.9	20120202	BTO	$37.29
LANDSTAR SYSTEM	LSTR	201112	$0.65	$0.50	3.23	20120202	BTO	$51.47
MASTERCARD INC	MA	201112	$3.91	$3.16	17.05	20120202	BTO	$347.83
MID-AMER APT CM	MAA	201112	$1.06	$999.00	-1.96	20120202	AMC	$63.71
MICROCHIP TECH	MCHP	201112	$0.37	$0.53	-4.55	20120202	AMC	$37.13
MEDNAX INC	MD	201112	$1.19	$1.12	0.85	20120202	BTO	$71.19
MDC HLDGS	MDC	201112	($0.47)	($0.65)	36	20120202	BTO	$21.00
MDU RESOURCES	MDU	201112	$0.32	$0.40	0	20120202	AMC	$21.68
MULTI-FINELINE	MFLX	201112	$0.44	$0.62	-45.45	20120202	AMC	$24.85
M/I HOMES INC	MHO	201112	$0.05	($0.16)	-337.5	20120202	BTO	$11.46
MAXIMUS INC	MMS	201112	$0.53	$0.50	6.67	20120202	BTO	$45.21
MERCK & CO INC	MRK	201112	$0.95	$0.88	3.3	20120202	BTO	$38.78
MSCI INC-A	MSCI	201112	$0.44	$0.33	6.67	20120202	BTO	$32.65
MISSION WEST	MSW	201112	$0.12	$0.11	8.33	20120202	BTO	$9.38
MERITOR INC	MTOR	201112	$0.20	($0.07)	80	20120202	BTO	$6.63
MTS SYSTEMS	MTSC	201112	$0.83	$0.86	42.42	20120202	AMC	$45.80
MINERAL TECH	MTX	201112	$0.86	$0.85	4.4	20120202	AMC	$64.29
MWI VET SUPPLY	MWIV	201112	$0.93	$0.87	0	20120202	BTO	$76.50
MAXLINEAR INC-A	MXL	201112	($0.10)	($0.03)	-400	20120202	AMC	$5.99
NETSUITE INC	N	201112	($0.10)	$0.04	0	20120202	AMC	$42.82
NAVIGANT CONSLT	NCI	201112	$0.19	$0.15	10.53	20120202	BTO	$12.77
ANNALY CAP MGMT	NLY	201112	$0.56	$0.60	N/A	20120202	AMC	$16.88
NORTH AMER EGY	NOA	201112	$0.18	$0.10	2300	20120202	AMC	$6.60
NATL OILWELL VR	NOV	201112	$1.30	$1.05	7.69	20120202	BTO	$75.99
NEUSTAR INC -A	NSR	201112	$0.48	$0.41	15.91	20120202	AMC	$36.09
NU SKIN ENTERP	NUS	201112	$0.72	$0.58	-1.64	20120202	BTO	$49.68
NOVELLUS SYS	NVLS	201112	$0.47	$1.03	5.88	20120202	AMC	$46.80
NOVO-NORDISK AS	NVO	201112	$1.25	$1.26	3.76	20120202		$120.03
NY TIMES A	NYT	201112	$0.42	$0.46	66.67	20120202	BTO	$7.99
OCULUS INNOVATV	OCLS	201112	($0.05)	($0.08)	33.33	20120202	AMC	$1.01
OLD DOMINION FL	ODFL	201112	$0.57	$0.39	4.69	20120202	BTO	$42.01
ORION ENERGY SY	OESX	201112	$0.10	$0.03	-100	20120202	AMC	$3.16
ON SEMICON CORP	ONNN	201112	$0.06	$0.22	0	20120202	BTO	$8.67
OPLINK COMMNCTN	OPLK	201112	$0.03	$0.45	-14.29	20120202	AMC	$19.24
PC CONNECTION	PCCC	201112	$0.36	$0.26	29.63	20120202	AMC	$12.22
PENN NATL GAMNG	PENN	201112	$0.49	$0.26	12.73	20120202	BTO	$41.08
PRINCIPAL FINL	PFG	201112	$0.75	$0.66	-14.08	20120202	AMC	$27.19
PULTE GROUP ONC	PHM	201112	$0.08	($0.01)	0	20120202	BTO	$7.80
PERKINELMER INC	PKI	201112	$0.51	$0.44	5.13	20120202	AMC	$23.81
POLYONE CORP	POL	201112	$0.14	$0.17	0	20120202	BTO	$14.26
POWER INTGRATIO	POWI	201112	$0.20	$0.30	-13.33	20120202	AMC	$36.35
PATTERSON-UTI	PTEN	201112	$0.62	$0.37	-3.51	20120202	BTO	$18.05
POWER-ONE INC	PWER	201112	$0.13	$0.49	-15.79	20120202	AMC	$4.58
QUEST SOFTWARE	QSFT	201112	$0.46	$0.32	16.67	20120202	AMC	$20.10
RYDER SYS	R	201112	$0.97	$0.65	6.86	20120202	BTO	$56.50
ROYAL CARIBBEAN	RCL	201112	$0.14	$0.20	2.15	20120202	BTO	$27.90
ELIZABETH ARDEN	RDEN	201112	$1.39	$1.20	10.71	20120202	BTO	$36.14
RUDDICK CORP	RDK	201112	$0.54	$0.57	-23.08	20120202	AMC	$41.45
RESOURCE AMER-A	REXI	201112	($0.21)	$0.08	87.5	20120202	AMC	$5.56
ROYAL GOLD INC	RGLD	201112	$0.48	$0.33	0	20120202	BTO	$74.02
RBC BEARINGS	ROLL	201112	$0.50	$0.37	4	20120202	BTO	$44.91
ROPER INDS INC	ROP	201112	$1.21	$1.10	3.7	20120202	BTO	$94.25
ROFIN-SINAR	RSTI	201112	$0.36	$0.51	9.09	20120202	BTO	$28.32
BANCO SANT -ADR	SAN	201112	$1.25	$1.57	-33.33	20120202	BTO	$82.19
SALLY BEAUTY CO	SBH	201112	$0.26	$0.22	3.57	20120202	BTO	$20.58
SPECTRA ENERGY	SE	201112	$0.49	$0.47	-2.56	20120202	BTO	$31.80
SELECT INS GRP	SIGI	201112	$0.31	$0.48	19.05	20120202	AMC	$17.98
SILICON IMAGE	SIMG	201112	($0.01)	$0.06	0	20120202	AMC	$4.92
SILICON MOTION	SIMO	201112	$0.28	($0.17)	250	20120202	AMC	$20.93
SARA LEE	SLE	201112	$0.25	$0.31	5.88	20120202	BTO	$19.17
SNAP-ON INC	SNA	201112	$1.17	$0.93	14.85	20120202	BTO	$56.18
SONY CORP ADR	SNE	201112	$0.32	$0.89	-125.81	20120202	BTO	$18.51
SUBURB PROPANE	SPH	201112	$1.15	$1.24	0	20120202	BTO	$46.93
STERICYCLE INC	SRCL	201112	$0.74	$0.69	1.43	20120202	AMC	$83.72
SIMPSON MFG INC	SSD	201112	$0.11	$0.04	21.21	20120202	AMC	$33.13
SUNOCO INC	SUN	201112	($0.28)	$0.11	-6.56	20120202	AMC	$38.24
SUNCOKE ENERGY	SXC	201112	$0.29	$999.00	4	20120202	BTO	$13.51
TIDEWATER INC	TDW	201112	$0.42	$0.67	-13.16	20120202	BTO	$54.83
TECO ENERGY	TE	201112	$0.28	$0.23	5	20120202	BTO	$18.61
TENNECO INC	TEN	201112	$0.59	$0.31	0	20120202	BTO	$31.85
THQ INC	THQI	201112	$0.76	$0.31	17.44	20120202	AMC	$0.71
TRANSCEND SVCS	TRCR	201112	$0.35	$0.27	-2.94	20120202	BTO	$25.00
TRIMBLE NAVIGAT	TRMB	201112	$0.43	$0.40	-9.09	20120202	AMC	$45.55
TESORO CORP	TSO	201112	($0.66)	($0.13)	30.6	20120202	AMC	$25.12
TELECOMMUN SYS	TSYS	201112	$0.08	$0.11	0	20120202	AMC	$2.33
TAKE-TWO INTER	TTWO	201112	$0.15	$0.45	11.11	20120202	AMC	$15.20
UNIFI INC	UFI	201112	$0.13	$0.31	-96.77	20120202	BTO	$9.44
US LIME&MINERAL	USLM	201112	$0.78	$0.49	120	20120202	AMC	$62.37
UNIVL TECH INST	UTI	201112	$0.27	$0.42	-14.29	20120202	AMC	$14.40
VIACOM INC-A	VIA	201112	$1.14	$1.02	1.92	20120202	BTO	$54.17
VIACOM INC-B	VIAB	201112	$1.06	$1.02	3.92	20120202	BTO	$48.01
VALIDUS HOLDING	VR	201112	$0.78	$1.40	4.76	20120202	AMC	$31.82
VERTEX PHARM	VRTX	201112	$0.82	($0.91)	200	20120202	AMC	$35.72
WABCO HOLDINGS	WBC	201112	$1.17	$0.95	6.09	20120202	BTO	$51.04
WISC ENERGY CP	WEC	201112	$0.48	$0.53	12.24	20120202	BTO	$34.78
WESTWOOD HLDGS	WHG	201112	$0.44	$0.46	-15.79	20120202	AMC	$40.03
BOINGO WIRELESS	WIFI	201112	$0.05	$0.45	25	20120202	AMC	$8.02
XCEL ENERGY INC	XEL	201112	$0.30	$0.29	6.15	20120202	BTO	$27.41
IXIA	XXIA	201112	$0.12	$0.14	44.44	20120202	AMC	$12.00
ZOLTEK COS INC	ZOLT	201112	$0.05	($0.05)	700	20120202	AMC	$8.58
AON CORP	AON	201112	$0.96	$0.84	-5.48	20120203	BTO	$47.65
AMER AXLE & MFG	AXL	201112	$0.38	$0.47	2.38	20120203	BTO	$12.38
BOOZ ALLEN HMLT	BAH	201112	$0.35	$0.22	30.3	20120203	BTO	$17.56
BEAM INC	BEAM	201112	$0.67	$0.63	-10.17	20120203	BTO	$52.48
CAPE BANCORP	CBNJ	201112	($0.02)	$0.07	800	20120203	AMC	$8.91
CONSTELLATN EGY	CEG	201112	$0.65	$0.42	-23.6	20120203	BTO	$36.60
CLOROX CO	CLX	201112	$0.69	$0.68	9.78	20120203	BTO	$68.84
ESTEE LAUDER	EL	201112	$1.01	$0.88	18.49	20120203	BTO	$57.99
HEALTH NET INC	HNT	201112	$0.89	$0.75	3.66	20120203	BTO	$35.81
IMATION CORP	IMN	201112	($0.06)	$0.22	-500	20120203	BTO	$5.93
KNOLL INC	KNL	201112	$0.37	$0.26	21.88	20120203	BTO	$15.84
MACERICH CO	MAC	201112	$0.87	$0.77	1.35	20120203	BTO	$55.29
MONEYGRAM INTL	MGI	201112	$0.17	($2.72)	0	20120203	BTO	$18.54
MODINE MANUFACT	MOD	201112	$0.28	$0.12	-90.48	20120203	BTO	$10.97
NATL FUEL GAS	NFG	201112	$0.85	$0.70	2.27	20120203	AMC	$50.74
ONEBEACON INSUR	OB	201112	$0.27	$0.28	-107.69	20120203	BTO	$15.59
SPECTRA EGY PTR	SEP	201112	$0.39	$0.41	-13.04	20120203	BTO	$32.93
SIRONA DENTAL	SIRO	201112	$0.93	$0.96	-9.68	20120203	BTO	$48.40
SPECTRUM BRANDS	SPB	201112	$0.58	$0.47	-20.34	20120203	BTO	$29.19
SIMON PROPERTY	SPG	201112	$1.90	$1.80	2.4	20120203	BTO	$136.53
STONERIDGE INC	SRI	201112	$0.22	$0.23	5.88	20120203	BTO	$9.39
TYSON FOODS A	TSN	201112	$0.34	$0.75	-18.75	20120203	BTO	$18.90
DOMTAR CORP	UFS	201112	$2.23	$2.41	26.02	20120203	BTO	$87.55
VIAD CORP	VVI	201112	($0.28)	($0.20)	-50	20120203	BTO	$19.77
WGL HLDGS INC	WGL	201112	$1.13	$1.02	23.53	20120203	AMC	$43.46
WEYERHAEUSER CO	WY	201112	$0.06	$0.10	9.09	20120203	BTO	$20.62
YRC WORLDWD INC	YRCW	201112	($8.58)	($99.99)	2.56	20120203	BTO	$13.99