Sold PCL – Plum Creek Timber Co.

July 29th, 2008

Sold entire 2.5% position in PCL at $47.70 (up 7% on the day) for a 23% profit

Bought XTO – XTO Energy, Inc.

July 23rd, 2008

Bought an additional 1% position in XTO at $49.94 – down 6% on the day for a total of 2.25% position.

Sold ITB – iShares DJ US HCIF

July 22nd, 2008

Sold 1% position ITB at $15.80 – up 8% on the day – at a loss of 11%

Bought XTO – XTO Energy, Inc.

July 22nd, 2008

Bought 1.25% position in XTO at $52.24 – down 9.9% on the day.

Bought GLD – Gold ETF

July 22nd, 2008

Bought 2% position in GLD at $93.08 – down 2% on the day.

Sold RGR- Sturm, Ruger

July 22nd, 2008

Sold entire .6% position in RGR at $7.26 (up 2% on the day) for no gain or loss.

Bought SWC – Stillwater Mining Co.

July 17th, 2008

Bought a .8% position in SWC at $9.40 – down about 7% on the day.

Bought PAL – North American Palladium

July 17th, 2008

Bought a .5% position in PAL at $4.66 (down 4.75% on the day) to bring total position to 2.2%

Bought BQI – Oil Sands Quest Inc.

July 17th, 2008

Bought 1% position in BQI at $5.26 (down 5.75% on the day)

Bought RIO – Comphania Vale Do Rio Doce

July 17th, 2008

Bought .75% position in RIO at $28.43 (down 7.3% on the day) to bring position to 1.75%