Account 2 Status and Comparison to Mutual Fund Account

This report reflects the status of Account 2 prior to opening of the market 18 Aug 2008 or after calls expired /exercised 15 Aug 2008. The account is compared to a Mutual Fund account. Initial funding for Account 2 was obtained from the Mutual Fund account.

Closed Positions (13 positions)
Total Cost $130,589.31
Total Gain $4,380.54
Net 3.35%, Avg. Monthly 4.29%, Avg. Annual 52.19%
Average Holding Period 23 days

Open Positions (7 positions, 3 have CCs against)
Total Cost $109,641.04
Current Value $ 98,111.00
Income to Date $6,116.07
% Income to Date 5.58% (based on cost)
Average Holding Period 34

Normalized Comparison with CFA managed Mutual Fund Account. Both accounts were normalized to 1.00 after the account was split into Account 2 and CFA Mutual Fund (RJF).

Account 2 (OpXpress) – Normalized Position – 0.998
CFA Mutual Fund (RJF)– Normalized Position - 0.980

Stock buys were mostly made using CSE Advanced Charting techniques. However, I limit chooses to known stocks that I consider high quality. To date no TSS or special management techniques have been used in this account. My goal is not as aggressive as CSE pitches. My goal is a 2-3% cash flow per month and to try and minimize risk of account value decreasing by selling ITM calls (the majority of the time). To date, I have done better than the CFA/Broker. I am not overly concerned about account 2 value since I believe the stocks will recover in time.