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Former Short Position - HRSReceived the Short Configuration Signal on 10/6/02. Initial Cover-Stop was established off the hilltop resistance points which were above the 30wk moving average (Risk Corridor = 13.1%). The next valley-bottom occurred at 12/20/02 as confirmed upon the third subsequent increase in closing price on 1/10/03. The next hilltop occurred on 1/17/03 as confirmed upon third subsequent decrease in closing price on 4/4/03. Since the 1/17 hilltop was above the 30wk moving average, we adjusted the Cover-Stop to $32 off the hilltop resistance points. The 4/4/03 confirmation date also served as the next valley-bottom as confirmed upon the third subsequent increase in closing price on 5/11/03. 6/8/03: Received the Cover Configuration Signal. Non-negotiable. Yielded a 6.7% ROI on the transaction and the position as a whole, equivalent to a 10.7% Annualized Rate of Return.
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