Wednesday, May 23, 2007

10Q Portfolio Updates

Sold Short 200 Shares of Usana Health Sciences (USNA)
PositionPurchase
Date
PriceCostSale
Date
PriceProceeds%
Change
200---03/28/07$50.10$10,007.35-
20005/09/07$39.42$7,896.97---21.09%


500 Shares of PenGrowth Energy Trust (PGH)
PositionPurchase
Date
PriceCostSale
Date
PriceProceeds%
Change
50011/17/06$16.23$8,197.0005/08/07$17.54$8,689.866.01%
Dividends:$645.13
TOTAL
RETURN
13.88%


2,000 Shares of China Natural Gas (CHNG)
PositionPurchase
Date
PriceCostSale
Date
PriceProceeds%
Change
1,00009/27/06$3.15$3,162.99----
1,00003/21/07$1.95$1,962.99----
2,000

$5,125.9805/22/07$3.03$6,046.9117.96%

"We are very pleased with our performance through the first quarter of 2007. Approximately 14 filling stations contributed to our revenue performance in the first quarter of 2007. Additionally, we are completing construction of 3 new filling stations in the second quarter of 2007, and will have a total of 17 filling stations contributing to our third quarter 2007 revenue," stated Mr. Qinan Ji, Chairman and CEO of China Natural Gas.

Funny thing most investors missed, the Company had previously stated its targeted goal was to be operating approximately twenty-one company-owned natural gas filling stations by the first-quarter of 2007. Stopped-out.

1,500 Shares of Neurochem (NRMX)
PositionPurchase
Date
PriceCostSale
Date
PriceProceeds%
Change
50002/22/07$16.42$8,222.84----
30003/01/07$13.88$4,176.96----
30003/21/07$12.07$3,633.81----




05/15/07$6.95$7,632.00-
1,100

$16,033.61



40004/11/07$13.75$5,580.0105/08/07$8.85$3,460.34
1,500Total:

$21,613.62

$11,092.34(48.68)%

Neurochem reminds me of a battered boxer holding onto the ropes to stay vertical. The company's recent plan to offer $80 million in toxic convertible notes was the latest in a series of blows, signaling that Alzhemed was finished. If management had confidence in the clinical results of its Alzheimer's disease treatment, would it not have waited until after the release of the Phase III data to seek additional financing (on more favorable terms)? My trainer threw in the white towel to stop the bloodletting.


RECENT TRANSACTIONS
PositionDescriptionPurchase
Date
PriceCostSale
Date
PriceProceeds%
Change
5,000ADDL05/16/07$0.56$2,812.99----
20JWUTJ05/17/07$2.05$2,070.49----
Blue Nile, Inc. (NILE) Aug-07 $50 Put

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