Dividends _ 08-11-11

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Dividends _ 08-11-11 Powered By Docstoc
					Prepared by Ronnie Moas                                                            Standpoint Rese
                                                                              Flamingo South Beach (Center Tower) 1504 Bay Roa
Dividends-300 _ # 779                                                Tel: 786.768.2317 E-mail: admin@standpointresearch.com

Four sheets, click tabs on bottom
                                           This is a report on 300 high-paying dividend names. The main scori
August 11, 2011                            our (20) open recommendations from this group are on the third sh
                                           listing of all 155 variables in our computer model with definitions an
Updated Report Schedule
                                           on data from the Wednesday, August 10, 2011 close. All 300 name
Jul 05: Utilities-100 _ # 770              year history, market cap > $400 mln, share price > $5.00 and averag
Jul 08: Energy-150 _ # 771                 without saying that many of these names are underperforming and
Jul 12: Technology-300 _ # 772             there may be value traps here.
Jul 14: Individual write-up C _ # 773
Jul 16: Russell-1000 _ # 774
Jul 20: Russell-2000 _ # 775
                                              Standpoint Research, Inc. is an independent research provider, is not a member of the NA
Jul 24: Individual write-up LRCX _ # 776    information contained in this report and on the Standpoint Research website is produced by
Jul 28: Financials-180 _ # 777                 or distributed in any other manner without prior written consent from Standpoint Research
                                                 prohibited by law and may lead to prosecution. The materials, opinions, and ideas expr
                                            specifically address individual financial objectives, financial situation or particular needs of th
Aug 07: Individual write-up ACI _ # 778    Standpoint Research does not intend for any person or entity to rely on any such facts, opini
Aug 11: Dividends-300 _ # 779                     this report, or any of the materials or information set forth in it. Nothing in this report co
Aug 15: S&P-1500 _ # 780                        information and opinions contained herein have been obtained from sources believed to
                                                accuracy, completeness or timeliness and does not assume any liability or responsibility
Aug 17: Staples-100 _ # 781                     omission by such person or entity, or by any other person or entity, based upon this repo
Aug 19: High-Dividends-200 _ # 782         Research may issue other reports that are inconsistent with this report and is under no oblig
Aug 22: Telecom-100 _ # 783                      this report reflect judgments made as of the original date of publication and past perform
                                              performance. Standpoint Research, its affiliates, directors, officers and employees may ha
Aug 24: Individual write-up ADM _ # 784
                                                 more of the securities and companies mentioned in this report, may be engaging in tran
Aug 28: Healthcare-300 _ # 785               mentioned herein and/or may also hold positions in the securities and companies mentione
                                           opinions and ideas expressed in this report and may have been established or engaged in pr
                                                                              solicitation or invitation to buy or sell securities relating to an
point Research, Inc.
 (Center Tower) 1504 Bay Road # 2210 Miami Beach, FL 33139
min@standpointresearch.com Web site: www.standpointresearch.com



           The main scoring summary is on the second sheet. Profiles for
 group are on the third sheet. Industry scores are on the fourth sheet. The
 model with definitions and color code is on the fifth sheet. This run is based
 011 close. All 300 names are showing a dividend yield > 3%, have a five-
 price > $5.00 and average daily shares traded volume > 100,000. It goes
 re underperforming and out-of-favor and that is why the yield is high -- so




 ovider, is not a member of the NASD or SIPC, and is not a registered securities broker or dealer. The
 Research website is produced by Standpoint Research and may not be published, broadcast, rewritten
  onsent from Standpoint Research. Any unauthorized use, duplication, redistribution or disclosure is
materials, opinions, and ideas expressed herein, are for general informational purposes only, do not
 l situation or particular needs of the person purchasing them, and are subject to change without notice.
 ity to rely on any such facts, opinions, and ideas, as we do not assure the accuracy or completeness of
 orth in it. Nothing in this report constitutes individual investment, legal or tax advice. Although the
obtained from sources believed to be reliable, Standpoint Research makes no representations as to
sume any liability or responsibility for any loss to any person or entity that may result from any act or
 on or entity, based upon this report and the information and opinions expressed herein. Standpoint
 h this report and is under no obligation to bring these reports to the recipient’s attention. All opinions in
ate of publication and past performance should not be taken as an indication or guarantee of future
 s, officers and employees may have long or short positions, or buy/sell options, with respect to one or
  s report, may be engaging in transactions based on ideas relating to the securities and companies
ecurities and companies mentioned herein. Such positions and/or transactions may be contrary to the
 been established or engaged in prior to the writing of this report. This report shall not be construed as a
buy or sell securities relating to any of the companies mentioned herein.
                  High Dividends (300)

Rank   Ticker            Stock                  Industry

 1     STRA      STRAYER EDUCATION        EDUCATION SERVICES

 2      SNY             SANOFI             PHARMACEUTICALS

 3      CHL       CHINA MOBILE ADR        WIRELSS TELECOM SVC

 4     RTN            RAYTHEON            AEROSPACE/DEFENSE

 5     AZN        ASTRAZENECA ADR          PHARMACEUTICALS

 6     INTC              INTEL             SEMICONDUCTORS

 7     AIXG        AIXTRON SE ADR        SEMICONDUCTOR EQUIP

 8      GD        GENERAL DYNAMICS        AEROSPACE/DEFENSE

 9     EOC      EMPRESAS ELEC CH ADR     INDPENDENT POWR PROD

10     NVS         NOVARTIS AG ADR         PHARMACEUTICALS

11      AFL             AFLAC             INSURANCE-LIFE/HLTH

12     HCSG      HEALTHCARE SERVICES      DIVERSIFIED SUPP SER

13      ABT     ABBOTT LABORATORIES        PHARMACEUTICALS

14     MCHP        MICROCHIP TECH          SEMICONDUCTORS

15      TSU     TIM PARTICIPACOESADR      WIRELSS TELECOM SVC

16      ADI        ANALOG DEVICES          SEMICONDUCTORS

17     MDT           MEDTRONIC               HC-EQUIPMENT

18      BLK           BLACKROCK           ASSET MANAGEMENT

19     TSM      TAIWAN SEMICOND ADR        SEMICONDUCTORS

20      ALV            AUTOLIV            AUTO PARTS & EQUIP

21      HRS             HARRIS           COMMUNICATIONS EQUIP

22     TEO      TELECOM ARGERNTN ADR       INTEG TELECOM SVC

23     ARLP      ALLIANCE RSC PTNRS      COAL & CONSUME FUELS

24     FFIN       FIRST FIN'L BNKSHR        REGIONAL BANKS

25     WMT        WAL-MART STORES        HYPRMKTS & SUPRCNTRS
26   JNJ     JOHNSON & JOHNSON        PHARMACEUTICALS

27   VIVO    MERIDIAN BIOSCIENCE         HC-SUPPLIES

28   LMT       LOCKHEED MARTIN       AEROSPACE/DEFENSE

29   RCI    ROGERS COMMUNICATION    WIRELSS TELECOM SVC

30   CATO           CATO               RETAIL-APPAREL

31   NOC     NORTHROP GRUMMAN        AEROSPACE/DEFENSE

32   MAT           MATTEL             LEISURE PRODUCTS

33   ITW     ILLINOIS TOOL WORKS    MACHINERY INDUSTRIAL

34   ENI       ENERSIS S.A. ADR       ELECTRIC UTILITIES

35   HAS           HASBRO             LEISURE PRODUCTS

36   MOLX           MOLEX           ELECTRONIC MNFRG SVC

37   WSO           WATSCO             TRADE COS & DISTR

38   MXIM   MAXIM INTEGRATED PDS      SEMICONDUCTORS

39   UVV          UNIVERSAL               TOBACCO

40   PNC      PNC FIN'L SVCS GRP       REGIONAL BANKS

41   TKC        TURKCELL ADR        WIRELSS TELECOM SVC

42   PEP           PEPSICO              SOFT DRINKS

43    LO          LORILLARD               TOBACCO

44   SNP     CHINA PET & CHEM ADR   OIL & GAS-INTEGRATED

45   TAP    MOLSON COORS BREWING          BREWERS

46   LLTC     LINEAR TECHNOLOGY       SEMICONDUCTORS

47   STO         STATOIL ASA        OIL & GAS-INTEGRATED

48   PTR       PETROCHINA ADR       OIL & GAS-INTEGRATED

49   KLAC        KLA-TENCOR         SEMICONDUCTOR EQUIP

50   SJR    SHAW COMMUNICATIONS       CABLE & SATELLITE

51   WEC      WISCONSIN ENERGY         MULTI-UTILITIES

52   EMR      EMERSON ELECTRIC      ELECTRICAL COMPONENT
53   SFG        STANCORP FIN'L       INSURANCE-LIFE/HLTH

54   ETN            EATON           MACHINERY INDUSTRIAL

55   PHG     PHILIPS ELECTRNC ADR   IND'L CONGLOMERATES

56   PFCB    P F CHANGS CHINA BIS        RESTAURANTS

57   BCE             BCE              INTEG TELECOM SVC

58   CFR    CULLEN/FROST BANKERS       REGIONAL BANKS

59   CBU     COMMUNITY BANK SYS        REGIONAL BANKS

60   REV          REVLON 'A'         PERSONAL PRODUCTS

61   NUE            NUCOR                    STEEL

62   SLF      SUN LIFE FINANCIAL     INSURANCE-LIFE/HLTH

63   AVP       AVON PRODUCTS         PERSONAL PRODUCTS

64   FLO       FLOWERS FOODS        PACKAGED FOODS/MEATS

65   CVX          CHEVRON            OIL & GAS-INTEGRATED

66   PPL             PPL               ELECTRIC UTILITIES

67   AVA            AVISTA              MULTI-UTILITIES

68   AM        AMER GREETINGS        HOUSEWARES & SPECS

69   GEF      GREIF BROTHERS 'A'    CONTAIN METAL/GLASS

70   MMP    MAGELLAN MIDSTRM PRT      OIL & GAS-STORAGE

71   BNS     BANK OF NOVA SCOTIA      DIVERSIFIED BANKS

72   DPL             DPL               ELECTRIC UTILITIES

73   FNFG     FIRST NIAGARA FIN'L   THRIFTS&MORTGAGE FIN

74   NTLS     NTELOS HOLDINGS        WIRELSS TELECOM SVC

75   BOH       BANK OF HAWAII          REGIONAL BANKS

76   SBS         SABESP ADR            WATER UTILITIES

77   TRV     TRAVELERS COS (THE)     INSURANCE-PROP/CAS

78   PBCT    PEOPLES UNITED FIN'L   THRIFTS&MORTGAGE FIN

79   HRB        BLOCK (H & R)        SPECIAL CONSM SERV
80    GIS       GENERAL MILLS       PACKAGED FOODS/MEATS

81    AEO    AMERICAN EAGLE OUTFT       RETAIL-APPAREL

82    VOD    VODAFONE GROUP ADR      WIRELSS TELECOM SVC

83    SHLM      SCHULMAN (A.)          CHEMS-SPECIALTY

84     PG     PROCTER & GAMBLE      HOUSEHOLD PRODUCTS

85    DRI    DARDEN RESTAURANTS          RESTAURANTS

86    UGI            UGI                 GAS UTILITIES

87    GHL       GREENHILL & CO.     INV BANK & BROKERAGE

88    KMB       KIMBERLY-CLARK      HOUSEHOLD PRODUCTS

89    AVY       AVERY DENNISON       SERVICES-OFFICE/SUPP

90    HBC       HSBC HLDGS ADR        DIVERSIFIED BANKS

91    DLR     DIGITAL REALTY REIT        OFFICE REITS

92    ERIC     ERICSSON TEL ADR     COMMUNICATIONS EQUIP

93    UNS      UNISOURCE ENERGY        ELECTRIC UTILITIES

94    SAN    BANCO SANTGO-CHL ADR     DIVERSIFIED BANKS

95    STX    SEAGATE TECHNOLOGY     COMPU STORAGE/PERIPH

96    NEE       NEXTERA ENERGY         ELECTRIC UTILITIES

97    ETR          ENTERGY             ELECTRIC UTILITIES

98    PAYX         PAYCHEX           SERVICES-DATA PROC

99    WABC   WESTAMERICA BANCORP       REGIONAL BANKS

100   LEG       LEGGETT & PLATT       HOME FURNISHINGS

101    TD    TORONTO DOMINION BK      DIVERSIFIED BANKS

102   CPB       CAMPBELL SOUP       PACKAGED FOODS/MEATS

103   ADP    AUTOMATIC DATA PROC     SERVICES-DATA PROC

104   AJG     ARTHUR J. GALLAGHER    INSURANCE-BROKERS

105   SSL         SASOL ADR          OIL & GAS-INTEGRATED

106   CEO         CNOOC ADR          OIL & GAS-EXPL/PROD
107   WTR       AQUA AMERICA           WATER UTILITIES

108   SPLS         STAPLES             SPECIALTY STORES

109    KT        KT CORP ADR          INTEG TELECOM SVC

110   GPC       GENUINE PARTS            DISTRIBUTORS

111   TWGP      TOWER GROUP          INSURANCE-PROP/CAS

112   WPZ     WILLIAMS PARTNERS       OIL & GAS-STORAGE

113    TU            TELUS            INTEG TELECOM SVC

114   LLY          LILLY (ELI)        PHARMACEUTICALS

115   CVC    CABLEVISION SYSTEMS      CABLE & SATELLITE

116   SYY           SYSCO             FOOD DISTRIBUTORS

117   PEG       PUBLIC SVC ENTP         MULTI-UTILITIES

118   MFC       MANULIFE FIN'L       INSURANCE-LIFE/HLTH

119   WR        WESTAR ENERGY          ELECTRIC UTILITIES

120   HNZ         HEINZ (H.J.)      PACKAGED FOODS/MEATS

121   PPG       PPG INDUSTRIES          CHEMS-DIVERSE

122    SJI    SOUTH JERSEY INDUS         GAS UTILITIES

123   HON      HONEYWELL INT'L       AEROSPACE/DEFENSE

124    BP           BP ADR           OIL & GAS-INTEGRATED

125    RY    ROYAL BANK OF CANADA     DIVERSIFIED BANKS

126    EV        EATON VANCE         ASSET MANAGEMENT

127   RAI     REYNOLDS AMERICAN            TOBACCO

128   SWX       SOUTHWEST GAS            GAS UTILITIES

129   BMS           BEMIS             PAPER PACKAGING

130   UGP    ULTRAPAR PARTIC ADR      AUTOMOTIVE RETAIL

131    T             AT&T             INTEG TELECOM SVC

132   UBSI   UNITED BANKSHRS WV        REGIONAL BANKS

133   EXC           EXELON             ELECTRIC UTILITIES
134    K            KELLOGG          PACKAGED FOODS/MEATS

135   OGE         OGE ENERGY            MULTI-UTILITIES

136   SON      SONOCO PRODUCTS         PAPER PACKAGING

137    FII    FEDERATED INVESTORS     ASSET MANAGEMENT

138   PCG            PG&E               MULTI-UTILITIES

139   ABM       ABM INDUSTRIES       SERVICES-ENVIRONMNTL

140   DBD           DIEBOLD          COMPUTER HARDWARE

141   NU      NORTHEAST UTILITIES      ELECTRIC UTILITIES

142   OFC     CORPORATE OFC PROP          OFFICE REITS

143   BMO      BANK OF MONTREAL        DIVERSIFIED BANKS

144   AGL        AGL RESOURCES            GAS UTILITIES

145   XEL         XCEL ENERGY           MULTI-UTILITIES

146   CNL         CLECO HLDG           ELECTRIC UTILITIES

147    SI       SIEMENS AG ADR       IND'L CONGLOMERATES

148    PL       PROTECTIVE LIFE       INSURANCE-LIFE/HLTH

149   BMY     BRISTOL-MYERS SQUIBB     PHARMACEUTICALS

150   BBL     BHP BILLITON PLC ADR   DIVERSE METAL/MINING

151   MDP          MEREDITH               PUBLISHING

152   UPS      UNITED PARCEL SVC      AIRFRGHT & LOGISTICS

153    CS     CREDIT SUISSE GP ADR     DIVERSIFIED BANKS

154   BTI     BRITISH AMER TOB ADR         TOBACCO

155   LOW      LOWE'S COMPANIES      RETAIL-HOME IMPROVE

156   MT      ARCELOR MITTAL ADR             STEEL

157   NWBI   NORTHWEST BANCSHARES    THRIFTS&MORTGAGE FIN

158   CMS         CMS ENERGY            MULTI-UTILITIES

159   WM      WASTE MANAGEMENT       SERVICES-ENVIRONMNTL

160   SCG            SCANA              MULTI-UTILITIES
161   NST            NSTAR               MULTI-UTILITIES

162   TRMK        TRUSTMARK             REGIONAL BANKS

163   HCP             HCP               SPECIALIZED REITS

164   RSG      REPUBLIC SERVICES     SERVICES-ENVIRONMNTL

165   GRMN          GARMIN           CONSUMER ELECTRONICS

166   MIC    MACQUARIE INFRASTRUC     DIVERSIFIED SUPP SER

167   HUBB        HUBBELL 'B'        ELECTRICAL COMPONENT

168   CCL          CARNIVAL           HOTEL/RESORT/CRUISE

169    FL         FOOTLOCKER             RETAIL-APPAREL

170   UTR           UNITRIN          INSURANCE-MULTI-LINE

171   BAK        BRASKEM ADR           CHEMS-COMMODITY

172   SRE       SEMPRA ENERGY            MULTI-UTILITIES

173    TRI     THOMSON REUTERS             PUBLISHING

174   PFS     PROVIDENT FIN'L SVCS   THRIFTS&MORTGAGE FIN

175   COP       CONOCOPHILLIPS        OIL & GAS-INTEGRATED

176   RDSA   ROYAL DUTCH SH ADR A     OIL & GAS-INTEGRATED

177    HD        HOME DEPOT          RETAIL-HOME IMPROVE

178   CLX           CLOROX           HOUSEHOLD PRODUCTS

179   AEP    AMER ELECTRIC POWER        ELECTRIC UTILITIES

180   ALE           ALLETE              ELECTRIC UTILITIES

181   NTRS     NORTHERN TRUST         ASSET MANAGEMENT

182   CAG       CONAGRA FOODS        PACKAGED FOODS/MEATS

183   PFE            PFIZER            PHARMACEUTICALS

184   BCS      BARCLAYS PLC ADR        DIVERSIFIED BANKS

185   PBT     PERMIAN BASIN TRUST     OIL & GAS-EXPL/PROD

186   STLD      STEEL DYNAMICS                STEEL

187   PNY    PIEDMONT NATURAL GAS         GAS UTILITIES
188   ABB           ABB ADR          IND'L CONGLOMERATES

189   SJT     SAN JUAN BASIN TRUST    OIL & GAS-EXPL/PROD

190   HSC           HARSCO           MACHINERY INDUSTRIAL

191   VTR            VENTAS            SPECIALIZED REITS

192   RYN           RAYONIER           SPECIALIZED REITS

193   GBCI      GLACIER BANCORP        REGIONAL BANKS

194   CWT      CALIFORNIA WATER         WATER UTILITIES

195    TE         TECO ENERGY           MULTI-UTILITIES

196   MBT      MOBILE TELESYS ADR    WIRELSS TELECOM SVC

197   NVE          NV ENERGY           ELECTRIC UTILITIES

198   LNT        ALLIANT ENERGY         MULTI-UTILITIES

199   EIX         EDISON INT'L         ELECTRIC UTILITIES

200   LRY      LIBERTY PROPERTY TR     DIVERSIFIED REITS

201   NWN     NORTHWEST NAT GAS          GAS UTILITIES

202   SWY           SAFEWAY              RETAIL-FOOD

203   SO      SOUTHERN COMPANY         ELECTRIC UTILITIES

204   CM      CANADIAN IMPERIAL BK     DIVERSIFIED BANKS

205   MMC      MARSH & MCLENNAN       INSURANCE-BROKERS

206   HGT     HUGOTON ROYL TR TEX     OIL & GAS-EXPL/PROD

207   RPM           RPM INT'L          CHEMS-SPECIALTY

208   CHT    CHUNGHWA TELECOM ADR     INTEG TELECOM SVC

209   DEO         DIAGEO ADR         DISTILLER & VINTNERS

210   ED         CONSOL EDISON          MULTI-UTILITIES

211   HCN       HEALTH CARE REIT       SPECIALIZED REITS

212   ENB           ENBRIDGE          OIL & GAS-STORAGE

213   NNN     NATIONAL RETAIL PROP        RETAIL REITS

214   GEL      GENESIS ENERGY LP      OIL & GAS-STORAGE
215   EGP    EASTGROUP PROPERTIES      INDUSTRIAL REITS

216    FE        FIRSTENERGY          ELECTRIC UTILITIES

217   MDU    MDU RESOURCES GROUP       MULTI-UTILITIES

218   WRE     WASHINGTON R.E.I.T.      DIVERSIFIED REITS

219   KFT        KRAFT FOODS        PACKAGED FOODS/MEATS

220   PSA       PUBLIC STORAGE         SPECIALIZED REITS

221   GSK    GLAXOSMITHKLINE ADR      PHARMACEUTICALS

222   VVC          VECTREN             MULTI-UTILITIES

223   ATO       ATMOS ENERGY             GAS UTILITIES

224   MCY      MERCURY GENERAL       INSURANCE-PROP/CAS

225   CINF      CINCINNATI FIN'L     INSURANCE-PROP/CAS

226   GE       GENERAL ELECTRIC     IND'L CONGLOMERATES

227   BPL      BUCKEYE PARTNERS       OIL & GAS-STORAGE

228   DTE         DTE ENERGY           MULTI-UTILITIES

229   HNI             HNI            SERVICES-OFFICE/SUPP

230   SSW          SEASPAN                 MARINE

231    D     DOMINION RESOURCES        MULTI-UTILITIES

232   PGN      PROGRESS ENERGY        ELECTRIC UTILITIES

233   OKS      ONEOK PARTNERS         OIL & GAS-STORAGE

234   UL       UNILEVER PLC ADR     PACKAGED FOODS/MEATS

235   BBT            BB&T              REGIONAL BANKS

236   NYX       NYSE EURONEXT        SPECIALIZED FINANCE

237   WGL         WGL HLDGS              GAS UTILITIES

238   TRP       TRANSCANADA           OIL & GAS-STORAGE

239    O        REALTY INCOME            RETAIL REITS

240   IRM       IRON MOUNTAIN        DIVERSIFIED SUPP SER

241   ALEX   ALEXANDER & BALDWIN           MARINE
242   BTE        BAYTEX ENERGY         OIL & GAS-DRILLING

243   OKE           ONEOK                 GAS UTILITIES

244   ISIL       INTERSIL HLDG         SEMICONDUCTORS

245   EPD     ENTERPRISE PRODUCTS      OIL & GAS-STORAGE

246   DRE         DUKE REALTY             OFFICE REITS

247   NWE       NORTHWESTERN            MULTI-UTILITIES

248   SIGI    SELECTIVE INS GROUP     INSURANCE-PROP/CAS

249   THG     THE HANOVER INS GRP     INSURANCE-PROP/CAS

250   NJR    NEW JERSEY RESOURCES         GAS UTILITIES

251   TEG     INTEGRYS ENERGY GRP       MULTI-UTILITIES

252   UN        UNILEVER NV ADR      PACKAGED FOODS/MEATS

253   BKH         BLACK HILLS           MULTI-UTILITIES

254   ETE    ENERGY TRANSFER EQTY      OIL & GAS-STORAGE

255   PSO       PEARSON PLC ADR           PUBLISHING

256   REG      REGENCY CENTERS            RETAIL REITS

257   SSS     SOVRAN SELF STORAGE       SPECIALIZED REITS

258   CBL     CBL & ASSOCIATS PROP        RETAIL REITS

259   TWX        TIME WARNER            MOVIES & ENTMT

260    VZ       VERIZON COMM           INTEG TELECOM SVC

261   PLD          PROLOGIS             INDUSTRIAL REITS

262   VNO    VORNADO REALTY TRUST       DIVERSIFIED REITS

263   OTTR         OTTER TAIL        IND'L CONGLOMERATES

264   BLX    BANCO LATINOAMERICNO      DIVERSIFIED BANKS

265   GMT            GATX              TRADE COS & DISTR

266   PUK     PRUDENTIAL PLC ADR      INSURANCE-LIFE/HLTH

267   KRC        KILROY REALTY            OFFICE REITS

268   SKT    TANGER FACTRY OUTLET         RETAIL REITS
269   PRE          PARTNERRE             REINSURANCE

270   FRT      FEDERAL REALTY INV        RETAIL REITS

271   DPM    DCP MIDSTREAM PARTNR     OIL & GAS-STORAGE

272   CRH           CRH ADR          CONSTRUCTION MATRLS

273   PAA     PLAINS ALL AMER PIPE    OIL & GAS-STORAGE

274   ERF          ENERPLUS          OIL & GAS-EXPL/PROD

275   BMR     BIOMED REALTY TRUST        OFFICE REITS

276   ALL          ALLSTATE          INSURANCE-PROP/CAS

277   WRI      WEINGARTEN REALTY         RETAIL REITS

278   KMP    KINDER MORGAN ENERGY     OIL & GAS-STORAGE

279   KIM        KIMCO REALTY            RETAIL REITS

280   TMX    TELEFONOS DE MEX ADR     INTEG TELECOM SVC

281   CNP     CENTERPOINT ENERGY        MULTI-UTILITIES

282   VMC      VULCAN MATERIALS      CONSTRUCTION MATRLS

283   MDCA       MDC PARTNERS            ADVERTISING

284   BRE        BRE PROPERTIES        RESIDENTIAL REITS

285   ESS     ESSEX PROPERTY TRUST     RESIDENTIAL REITS

286   STR           QUESTAR              GAS UTILITIES

287   CMC     COMMERCIAL METALS             STEEL

288   MAA    MID-AMER APRT COMMUN      RESIDENTIAL REITS

289   XTXI       CROSSTEX ENGY        OIL & GAS-STORAGE

290   WMB     WILLIAMS COMPANIES      OIL & GAS-STORAGE

291   HME       HOME PROPERTIES        RESIDENTIAL REITS

292   ECA           ENCANA           OIL & GAS-EXPL/PROD

293   AKR     ACADIA REALTY TRUST        RETAIL REITS

294   CPT     CAMDEN PROPERTY TR       RESIDENTIAL REITS

295    TK       TEEKAY SHIPPING       OIL & GAS-STORAGE
296   MAC          MACERICH             RETAIL REITS

297   APL     ATLAS PIPELINE PRTNS   OIL & GAS-STORAGE

298   TCO      TAUBMAN CENTERS          RETAIL REITS

299   CPNO      COPANO ENERGY        OIL & GAS-STORAGE

300   MWE    MARKWEST ENERGY PRTN    OIL & GAS-STORAGE
                       1    2     3      4     5      6      7      8      9    10    11     12

       Sector         roe   roa   roc   ebitda npm   acct   eps m rev gr eps gr beta debt stab gr

CONSUMER DISCRETION    1    1     3      103   77     1      58     19    27    60    292    17

    HEALTH CARE       25    44    7      27    12    176     37    114    19    124   65     57

TELECOMMUNICATION     51    13    22     40    45    176     44     13     9    103   23     29

    INDUSTRIALS       100   91    70     247   204   84     109    151    32    44    92     8

    HEALTH CARE        4    15    11     59    44    176    117    204    111   76    105    24

 INFORMATION TECH     57    9     15     67    57    106     26     72    11    158   26    122

 INFORMATION TECH     19    3     1      107   54    176     4      5      6    260    1     50

    INDUSTRIALS       84    80    59     234   201    1     130     97    91    124   50     31

     UTILITIES        55    111   50     63    68    176    103     63    14    98     1     56

    HEALTH CARE       72    68    32     102   58    176     72     71    59    30    56     60

    FINANCIALS        56    201   27     190   109   257     82     62    42    271   65     2

    INDUSTRIALS       106   18    37     281   249    1      81     43    29    67     1     81

    HEALTH CARE       32    88    30     142   86    164    100     54    62     7    120    6

 INFORMATION TECH     52    38    21     75    35    130     21     38    40    131   52    210

TELECOMMUNICATION     49    26    10     139   101   176     1      24     7    253   61    125

 INFORMATION TECH     58    12    23     87    47    61      24    137    38    103   65    199

    HEALTH CARE       61    54    58     105   65    151    133     95    102   79    124    7

    FINANCIALS        258   273   162    89    61    125     36     8     12    220   38    127

 INFORMATION TECH     33    16    14     31    20    176     32     27    20    131    1    206

CONSUMER DISCRETION   86    42    25     221   133   176     6      85    15    273   43    246

 INFORMATION TECH     45    37    65     190   151   259     85    106    35    139   160    15

TELECOMMUNICATION     49    230   86     146   229   176     50     59    17    170   23     93

      ENERGY          13    11    18     151   95     1      25     20    13    206   243   163

    FINANCIALS        160   238   91     48    28     1     105    129    118   81     1     22

 CONSUMER STAPLES     66    66    102    283   265   47     116    128    77    18    160    4
    HEALTH CARE       48    36    34    122   67    97    170   163   135   15    43    25

    HEALTH CARE       78    7     38    120   81    47    268   65    76    94    1     165

    INDUSTRIALS        2    105   13    266   244   33    229   146   100   50    261   142

TELECOMMUNICATION     23    85    132   99    147   143   64    69    23    108   288   18

CONSUMER DISCRETION   111   28    41    248   213   1     47    162   36    198   1     203

    INDUSTRIALS       149   79    84    242   180   274   131   205   109   119   82    26

CONSUMER DISCRETION   43    27    26    211   141   1     52    203   43    164   100   228

    INDUSTRIALS       108   51    88    209   156   73    46    103   91    167   65    261

     UTILITIES        89    125   164   145   202   176   112   35    52    141   1     128

CONSUMER DISCRETION   67    81    127   219   190   57    150   148   39    101   186   39

 INFORMATION TECH     158   53    46    201   99    290   5     123   50    242   33    268

    INDUSTRIALS       214   110   136   293   274   70    49    18    54    131   30    198

 INFORMATION TECH     73    84    20    127   70    176   8     76    16    144   38    288

 CONSUMER STAPLES     171   126   173   268   250   61    136   289   226   94    70    43

    FINANCIALS        211   255   203   61    66    154   31    16    69    265   140   288

TELECOMMUNICATION     84    40    100   66    75    176   249   174   237   170   56    238

 CONSUMER STAPLES     20    47    101   187   140   134   132   34    96    9     178   15

 CONSUMER STAPLES     122   17    4     132   87    33    97    33    60    11    191   13

      ENERGY          278   153   282   217   288   176   10    132   72    203   105   226

 CONSUMER STAPLES     258   155   173   124   74    134   150   298   73    22    62    28

 INFORMATION TECH     88    2     2     37    13    95    27    86    89    108   266   172

      ENERGY          81    6     113   94    181   176   34    277   272   176   105   193

      ENERGY          253   90    285   217   238   176   55    7     78    222   35    288

 INFORMATION TECH     26    10    12    95    42    277   1     135   53    230   70    288

CONSUMER DISCRETION   82    246   288   77    105   115   87    29    25    114   273   13

     UTILITIES        40    164   179   138   131   1     60    206   71    17    211   52

    INDUSTRIALS       59    48    61    197   158   78    113   176   118   150   105   237
    FINANCIALS        240   272   208   184   232   161   275   147   51    250   76    205

    INDUSTRIALS       133   129   133   239   197   106   30    149   114   185   112   231

    INDUSTRIALS       221   119   136   203   225   176   3     267   259   191   56    239

CONSUMER DISCRETION   183   106   143   259   259   61    75    105   54    181   82    11

TELECOMMUNICATION     103   141   161   74    124   160   90    192   67    9     183   76

    FINANCIALS        223   267   172   79    56    1     126   102   180   98    50    230

    FINANCIALS        202   218   176   36    49    91    62    66    94    138   220   80

 CONSUMER STAPLES     122   299   8     236   106   145   16    230   4     191   191   83

     MATERIALS        197   139   269   276   282   1     7     241   98    239   131   92

    FINANCIALS        211   217   155   207   112   170   22    129   230   260   90    187

 CONSUMER STAPLES     13    43    34    240   208   145   214   119   139   158   232   182

 CONSUMER STAPLES     105   39    70    255   236   47    107   80    48    1     35    8

      ENERGY          75    14    32    179   159   30    41    189   209   148   1     275

     UTILITIES        116   156   163   87    90    176   61    92    112   55    269   222

     UTILITIES        249   182   214   182   208   33    88    229   82    48    194   143

CONSUMER DISCRETION   188   74    107   220   113   293   63    248   10    267   79    98

     MATERIALS        99    130   145   255   229   161   73    96    44    242   170   71

      ENERGY          27    104   39    98    62    88    51    37    87    154   1     176

    FINANCIALS        92    258   108   44    36    61    80    41    106   210   52    218

     UTILITIES        70    101   116   113   109   47    125   98    125   22    156   33

    FINANCIALS        241   244   235   39    39    167   86    1     88    103   266   288

TELECOMMUNICATION     46    145   214   89    211   61    278   164   31    158   297   110

    FINANCIALS        114   268   99    58    46    33    185   217   228   176   25    132

     UTILITIES        121   76    76    62    76    176   68    155   46    253   127   74

    FINANCIALS        261   264   247   104   177   73    220   190   26    81    70    288

    FINANCIALS        299   260   261   110   91    110   98    50    139   50    38    157

CONSUMER DISCRETION   21    55    44    175   127   47    193   255   131   124   156   58
 CONSUMER STAPLES     38    57    98    186   145   119   135   113   83    4     178   12

CONSUMER DISCRETION   153   29    118   216   225   130   114   173   247   230   1     108

TELECOMMUNICATION     243   251   153   93    83    176   236   101   99    101   82    121

     MATERIALS        198   151   124   289   245   269   42    124   21    167   96    173

 CONSUMER STAPLES     118   86    108   174   108   33    237   168   147   12    82    101

CONSUMER DISCRETION   47    75    88    238   218   47    115   109   56    218   160   10

     UTILITIES        120   168   199   250   260   57    223   222   112   41    186   106

    FINANCIALS        68    21    194   144   102   1     290   39    213   176   1     161

 CONSUMER STAPLES     18    65    53    206   185   78    215   159   122   22    194   79

    INDUSTRIALS       98    162   111   265   117   164   160   181   152   222   127   149

    FINANCIALS        167   294   104   56    19    176   10    293   276   185   56    114

    FINANCIALS        54    71    43    24    22    176   67    14    30    155   261   2

 INFORMATION TECH     199   196   288   214   188   176   17    94    27    185   48    180

     UTILITIES        172   183   199   183   212   80    54    178   24    57    281   147

    FINANCIALS        22    184   96    5     18    176   53    64    22    181   279   42

 INFORMATION TECH     42    148   164   229   143   263   18    183   3     234   237   280

     UTILITIES        180   216   221   111   128   110   157   207   118   67    243   20

     UTILITIES        144   207   191   97    132   101   147   261   188   36    253   67

 INFORMATION TECH     17    45    6     69    55    33    210   142   202   119   1     288

    FINANCIALS        106   235   80    38    24    101   207   84    177   144   26    155

CONSUMER DISCRETION   173   128   148   257   222   125   39    284   34    212   136   221

    FINANCIALS        151   261   153   49    43    157   107   30    67    196   79    170

 CONSUMER STAPLES      3    25    16    192   156   81    158   231   158   4     287   27

 INFORMATION TECH     69    172   27    167   120   1     173   138   125   89    21    37

    FINANCIALS        145   206   164   212   195   47    139   87    69    2     131   283

      ENERGY          76    33    80    125   104   176   134   89    255   269   43    270

      ENERGY          34    19    65    46    151   176   184   32    250   265   35    263
     UTILITIES        209   190   211   41    84    1     88    80    104   50    237   52

CONSUMER DISCRETION   169   99    156   277   267   134   177   90    134   204   70    253

TELECOMMUNICATION     251   259   250   168   271   176   35    46    300   114   156   85

CONSUMER DISCRETION   101   41    52    285   256   1     92    160   160   119   30    281

    FINANCIALS        256   60    189   232   220   119   198   3     182   103   92    148

      ENERGY          39    113   194   91    79    1     152   2     95    150   249   109

TELECOMMUNICATION     268   202   268   114   240   43    104   133   73    94    140   240

    HEALTH CARE        5    20    9     119   63    273   146   139   184   84    112   32

CONSUMER DISCRETION   184   299   48    92    113   276   19    179   2     258   146   1

 CONSUMER STAPLES     29    32    61    292   272   43    174   150   153   89    143   73

     UTILITIES        134   114   143   108   116   86    175   263   165   60    152   100

    FINANCIALS        216   291   288   298   242   1     297   56    8     277   121   113

     UTILITIES        273   226   249   106   170   1     83    100   57    72    220   236

 CONSUMER STAPLES     11    72    61    203   176   1     162   140   136   27    194   40

     MATERIALS        44    112   69    231   295   145   29    177   78    198   178   281

     UTILITIES        162   179   159   193   175   130   94    167   73    31    152   43

    INDUSTRIALS       41    115   56    229   191   99    155   182   138   210   131   214

      ENERGY          64    87    47    243   221   176   102   143   200   141   82    288

    FINANCIALS        132   262   130   72    73    143   181   36    129   198   56    210

    FINANCIALS         5    8     30    116   97    91    106   68    108   289   204   274

 CONSUMER STAPLES     71    52    59    126   94    157   163   214   142   15    121   47

     UTILITIES        248   187   191   169   206   1     83    273   33    108   183   207

     MATERIALS        202   136   199   253   262   125   123   52    61    89    167   166

CONSUMER DISCRETION   137   131   136   295   293   176   10    6     5     135   143   118

TELECOMMUNICATION     192   194   167   131   150   119   233   121   238   72    124   208

    FINANCIALS        225   249   136   33    37    110   221   191   242   248   105   68

     UTILITIES        77    120   124   64    103   149   176   250   263   119   175   194
 CONSUMER STAPLES      5    46    54    201   169   1     181   171   109   6     281   23

     UTILITIES        164   170   185   172   184   33    111   240   104   108   211   65

     MATERIALS        139   117   115   250   237   134   101   158   136   158   112   286

    FINANCIALS        12    5     34    100   77    97    257   242   205   141   143   220

     UTILITIES        204   229   204   117   172   125   172   215   147   12    194   49

    INDUSTRIALS       239   166   211   295   282   157   149   144   89    176   124   58

 INFORMATION TECH     145   271   72    291   141   283   69    252   234   124   147   272

     UTILITIES        207   171   173   170   138   57    66    287   97    36    220   65

    FINANCIALS        97    92    77    23    34    176   179   99    58    224   274   164

    FINANCIALS        158   242   111   55    52    110   93    49    147   198   62    245

     UTILITIES        166   188   186   141   148   81    156   253   160   57    220   156

     UTILITIES        228   198   219   159   199   33    142   219   145   18    220   61

     UTILITIES        225   186   239   70    129   43    117   164   62    44    194   70

    INDUSTRIALS       126   121   105   246   193   176   45    245   160   247   147   259

    FINANCIALS        265   265   244   165   182   281   266   111   229   297   131   146

    HEALTH CARE       36    31    45    129   82    164   129   285   156   65    90    34

     MATERIALS        78    24    239   123   107   176   48    115   292   281   65    244

CONSUMER DISCRETION   110   73    80    225   153   280   78    259   211   250   52    169

    INDUSTRIALS       15    30    19    226   188   101   56    166   118   135   249   197

    FINANCIALS        217   284   281   8     279   176   33    26    47    285   299   241

 CONSUMER STAPLES     10    23    29    71    64    176   76    157   166   60    194   91

CONSUMER DISCRETION   220   124   194   264   265   47    169   193   208   230   96    46

     MATERIALS        268   263   279   273   284   176   13    239   168   292   100   162

    FINANCIALS        294   253   227   65    80    139   124   73    100   94    30    134

     UTILITIES        170   144   145   176   118   130   94    246   103   72    281   123

    INDUSTRIALS       128   143   191   153   210   125   180   225   131   67    253   201

     UTILITIES        223   215   229   157   191   30    200   256   193   36    232   116
     UTILITIES        163   159   182   134   165   73    128   272   145   28    220   20

    FINANCIALS        258   257   170   84    72    1     127   187   224   220   33    94

    FINANCIALS        93    69    51    50    10    176   141   25    142   218   170   141

    INDUSTRIALS       255   192   237   136   177   168   148   12    125   139   178   186

CONSUMER DISCRETION   62    22    67    160   69    119   281   201   190   196   1     275

    INDUSTRIALS       194   94    88    180   291   73    43    223   64    298   261   138

    INDUSTRIALS       154   70    156   228   207   47    237   156   166   212   105   229

CONSUMER DISCRETION   281   220   255   161   136   47    154   117   169   242   96    145

CONSUMER DISCRETION   219   50    80    267   154   266   23    238   85    248   29    215

    FINANCIALS        285   248   242   173   252   268   204   257   49    278   76    213

     MATERIALS        130   204   211   277   143   176   9     10    173   273   274   288

     UTILITIES        200   227   224   150   134   84    216   279   205   79    194   257

CONSUMER DISCRETION   272   185   189   142   138   278   225   58    107   144   92    184

    FINANCIALS        276   232   222   52    50    293   40    108   66    173   194   275

      ENERGY          155   62    119   245   241   295   77    197   283   181   82    144

      ENERGY          210   59    265   284   289   152   110   104   294   155   52    135

CONSUMER DISCRETION   113   63    122   262   246   86    121   267   181   206   136   95

 CONSUMER STAPLES     122   102   17    162   159   118   203   194   123   18    191   45

     UTILITIES        214   197   214   112   162   105   190   198   212   67    220   212

     UTILITIES        264   223   243   156   172   61    187   133   251   44    160   107

    FINANCIALS        238   278   250   68    85    139   275   160   235   176   147   255

 CONSUMER STAPLES     150   103   151   243   235   110   192   246   147   22    140   176

    HEALTH CARE       95    135   77    78    53    256   201   82    218   72    100   249

    FINANCIALS        196   297   288   60    122   176   249   125   288   296   1     62

      ENERGY          175   34    288   1     6     1     277   271   246   117   1     288

     MATERIALS        141   140   258   258   275   149   20    74    285   291   204   151

     UTILITIES        207   174   182   178   196   33    240   208   187   35    112   129
   INDUSTRIALS      35    78    42    227   167   176   197   122   186   264   43    192

     ENERGY         175   34    288   3     6     1     283   299   295   114   1     105

   INDUSTRIALS      282   270   266   233   278   155   285   264   254   286   131   131

    FINANCIALS      36    58    24    54    4     176   138   22    115   227   243   103

    FINANCIALS      112   97    140   115   100   1     57    116   78    164   112   288

    FINANCIALS      289   286   277   101   95    57    140   57    269   239   237   87

     UTILITIES      254   252   239   149   203   1     206   88    193   41    211   115

     UTILITIES      204   158   238   140   213   88    168   200   91    81    249   247

TELECOMMUNICATION   24    77    176   83    162   176   273   28    272   287   274   254

     UTILITIES      285   243   264   128   216   1     145   243   37    89    261   250

     UTILITIES      211   211   222   205   183   93    59    218   154   84    175   258

     UTILITIES      227   237   248   130   197   115   218   235   245   119   211   265

    FINANCIALS      143   127   72    17    16    176   256   209   248   262   194   77

     UTILITIES      231   210   224   153   194   43    230   283   193   22    167   174

CONSUMER STAPLES    188   161   194   290   273   286   232   232   249   55    220   203

     UTILITIES      185   181   204   109   135   61    222   145   177   3     204   111

    FINANCIALS      80    234   105   133   199   267   96    17    172   236   82    235

    FINANCIALS      148   64    54    213   121   270   159   212   65    67    105   182

     ENERGY          5    4     5     2     6     1     280   296   282   170   1     159

    MATERIALS       142   98    119   237   172   70    178   180   174   194   167   233

TELECOMMUNICATION   193   95    127   53    59    176   99    224   222   7     21    287

CONSUMER STAPLES     5    146   87    135   88    176   186   77    236   60    269   150

     UTILITIES      244   203   230   177   204   70    142   196   131   12    183   251

    FINANCIALS      129   132   114   4     11    176   219   15    188   89    186   278

     ENERGY         155   225   244   214   238   139   91    70    45    65    274   35

    FINANCIALS      235   176   176   47    3     176   65    112   270   164   160   179

     ENERGY         242   160   219   286   136   106   15    67    41    224   204   269
   FINANCIALS      65    108   79    6     14    176   253   127   232   191   279   288

    UTILITIES      180   208   224   121   166   173   261   188   257   76    243   209

    UTILITIES      234   180   169   194   216   274   252   258   253   150   1     158

   FINANCIALS      125   89    74    12    31    176   233   120   243   173   243   139

CONSUMER STAPLES   236   195   204   223   213   148   195   79    130   28    136   140

   FINANCIALS      93    118   108   10    1     176   164   236   147   155   28    64

  HEALTH CARE      16    49    129   137   125   176   291   186   270   47    269   168

    UTILITIES      265   221   253   166   234   61    271   216   225   41    211   264

    UTILITIES      267   200   234   224   233   155   167   274   169   50    186   219

   FINANCIALS      275   239   255   288   263   287   282   210   266   117   43    129

   FINANCIALS      295   277   275   252   231   95    289   234   227   185   48    90

  INDUSTRIALS      191   236   260   199   171   134   224   266   256   229   281   63

    ENERGY         119   154   131   221   187   152   213   4     183   158   204   88

    UTILITIES      252   214   235   147   219   81    165   233   169   84    220   266

  INDUSTRIALS      218   193   204   282   284   278   228   292   266   276   100   47

  INDUSTRIALS      247   281   244   80    257   297   137   9     81    288   274   252

    UTILITIES      135   157   214   95    126   168   196   244   154   36    253   72

    UTILITIES      250   205   230   117   168   106   202   185   196   18    232   89

    ENERGY         138   165   214   274   260   30    153   21    264   84    211   285

CONSUMER STAPLES   63    83    209   260   255   176   210   175   157   36    121   166

   FINANCIALS      288   283   271   86    123   93    183   74    277   236   253   41

   FINANCIALS      263   199   198   164   88    300   237   152   202   282   79    273

    UTILITIES      244   189   209   253   258   119   257   141   160   33    112   196

    ENERGY         246   213   254   51    93    73    189   118   185   60    211   284

   FINANCIALS      101   150   140   35    1     176   191   61    192   131   175   223

  INDUSTRIALS      195   61    156   34    145   282   71    136   18    148   253   5

  INDUSTRIALS      295   245   267   249   280   61    28    259   268   212   112   133
      ENERGY          130   209   171   76    130   1     119   31    261   224   127   224

     UTILITIES        87    219   227   280   276   1     208   170   123   185   281   191

 INFORMATION TECH     165   147   96    189   270   295   38    125   201   181   70    154

      ENERGY          140   175   142   275   243   117   194   11    115   144   232   96

    FINANCIALS        90    93    91    45    60    176   257   51    297   295   259   78

     UTILITIES        284   250   263   188   252   33    285   269   216   76    220   185

    FINANCIALS        290   275   250   279   269   263   231   237   142   194   62    86

    FINANCIALS        300   280   275   297   284   260   283   93    217   108   92    99

     UTILITIES        187   169   160   287   254   262   144   276   125   31    127   112

     UTILITIES        270   138   179   208   113   284   122   295   214   98    152   227

 CONSUMER STAPLES     31    67    152   263   248   176   217   169   164   50    147   171

     UTILITIES        287   247   262   152   247   288   166   53    205   108   211   116

      ENERGY          175   266   269   195   264   101   279   251   141   130   75    279

CONSUMER DISCRETION   167   241   116   200   111   176   74    220   177   84    96    248

    FINANCIALS        145   152   119   21    33    176   266   55    281   256   211   55

    FINANCIALS        180   133   126   29    30    176   209   199   262   230   160   102

    FINANCIALS        60    137   84    19    40    176   248   221   286   299   297   69

CONSUMER DISCRETION   271   142   179   73    98    292   205   300   220   206   136   188

TELECOMMUNICATION     136   224   167   155   225   260   257   131   198   57    237   153

    FINANCIALS        280   290   56    81    71    176   14    42    241   290   241   136

    FINANCIALS        91    116   123   25    32    176   227   226   260   255   266   225

    INDUSTRIALS       298   287   273   269   290   163   269   228   252   167   147   38

    FINANCIALS        232   295   257   163   5     176   120   184   265   216   281   216

    INDUSTRIALS       274   269   277   81    224   100   251   249   258   242   295   136

    FINANCIALS        117   296   188   235   149   176   247   290   280   284   243   288

    FINANCIALS        179   177   135   14    27    176   262   91    275   235   249   82

    FINANCIALS        27    100   40    20    17    176   187   45    115   204   288   84
    FINANCIALS        190   279   288   185   164   272   297   48    274   48    38    180

    FINANCIALS        104   134   91    18    21    176   244   154   221   185   170   242

      ENERGY          73    240   232   261   228   291   70    40    175   173   220   189

     MATERIALS        292   256   274   272   287   176   285   280   289   158   112   125

      ENERGY          262   231   259   299   294   170   170   213   219   124   186   200

      ENERGY          291   228   279   25    177   176   288   275   296   250   38    120

    FINANCIALS        229   163   145   13    29    88    269   47    287   258   152   123

    FINANCIALS        293   289   282   300   295   299   295   227   231   227   82    54

    FINANCIALS        206   191   149   7     26    176   253   254   279   280   261   104

      ENERGY          257   233   284   171   251   176   241   281   176   33    253   232

    FINANCIALS        230   149   149   43    9     176   262   109   293   278   170   74

TELECOMMUNICATION     30    56    199   85    159   176   271   294   290   103   204   119

     UTILITIES        126   212   232   158   222   119   242   285   233   135   292   243

     MATERIALS        161   276   288   209   277   172   297   288   84    271   156   19

CONSUMER DISCRETION   201   288   288   294   300   174   243   44    1     129   300   271

    FINANCIALS        186   123   102   11    15    176   264   194   239   256   204   234

    FINANCIALS        109   122   74    15    25    176   226   107   202   150   272   267

     UTILITIES        96    109   133   57    92    139   292   297   291   236   170   202

     MATERIALS        115   254   288   271   292   174   245   282   86    293   178   96

    FINANCIALS        53    82    61    31    38    176   264   83    215   198   288   262

      ENERGY          175   298   288   240   297   257   246   211   191   300   1     174

      ENERGY          222   274   187   147   118   285   161   270   243   269   232   259

    FINANCIALS        83    107   91    28    51    176   199   153   198   239   296   255

      ENERGY          282   222   286   42    186   271   296   291   284   216   100   151

    FINANCIALS        155   178   182   16    41    176   233   60    210   262   292   195

    FINANCIALS        152   96    91    9     48    176   253   172   240   242   259   30

      ENERGY          233   292   288   196   297   176   293   278   197   283   288   51
FINANCIALS   173   292   67    22    23    176   273   265   278   294   220   160

 ENERGY      279   173   271   198   299   297   79    23    298   275   76    190

FINANCIALS   277   167   49    30    155   176   212   202   158   267   241   178

 ENERGY      237   285   288   270   281   265   297   262   223   206   160   36

 ENERGY      297   282   287   181   267   289   294   78    299   212   194   216
 13   14    15      16       17     18    19      20       21      22     23      24      25     26        27

reinv pbk   base rel to ma inside   rec   pcf   pcf rel fcf / sh   div   rel str pr mom   ps    rel ps off hi / lo

 89   251    1      55       59     10    292     6        1       97    297     300      209     1         3

 1    23     1      136      59     151   31      12       1       248   116     115      194    96        163

109   176   196     246      59     151   128     52       43      80    151     265      237    57        143

 20   77     1      81      268     91    177     12       52      88    243     270      43     19        53

 18   190    1      106      59     151   82      21       25      20    264     249      192    57        67

 39   167    1      198      1      91    158     21      166      158   135     183      205    57        212

 32   254   213      8       59     151   285     6       182      183   229     191      239    57         8

 29   78     1      82      268     1     163     52       29      179   209     186      62     57        91

164   212   210     128      59     151   186     90       88      46    188     192      233    96        133

109   150   99      216      59     151   194     52       48      111    74      91      229    96        191

 5    82     1      16       30     10    298     1        65      220   287     265      77     19        13

 78   263   129     50      197     41    293     90      295      25    236     172      112    96        67

 97   208    1      222     236     10    186     52       61      107   177     226      200    57        163

194   222   162     131      11     91    265     52      194      94    160      91      259    57        133

 30   184   213     284      59     151    5      21       1       188     4      4       80    271        296

 72   200    1      86      286     91    253     52      168      236   154      80      240    96        115

 36   67     1      78      197     10    229     21      127      158   264     270      207    19        49

119   45    162     63      197     91    273     21       1       140   202     211      235   132        74

126   239    1      162      59     151   112     90      267      201    79      71      257   132        228

 19   142   201     18      268     151   48      90       21      272   229      48      45    200        27

 14   66     1      40      197     41    149     12       53      179   277     256      74     19        30

131   242   213     177      59     151   25     178      116      151    34      17      29      4        251

 97   292   203     268      59     151   44     178       1       116     5      7       166   236        295

138   130    1      112      13     10    265     90      233      255   229     255      267    96        89

 89   177    1      176     236     1     163     52       56      183   177     220      17     96        122
131   216   88    237   26    1     194   130   65    138   107   192   227   132   191

34    259   213   23    59    41    294   52    293   21    236   186   263   57    21

65    281   1     139   59    91    136   52    20    63    209   242   37    19    99

115   278   213   252   59    151   60    52    43    104   76    140   145   96    176

107   179   99    225   59    41    128   178   199   262   32    83    82    236   215

28    56    1     71    30    41    73    90    28    148   202   136   41    132   57

247   232   177   163    4    41    158   130   225   174   111   86    156   200   183

109   169   99    56    268   10    194   90    110   210   216   131   140   96    67

147   161   213   131   59    151   64    130   187   223   181   220   101   96    76

147   255   1     71    20    10    144   178   147   189   258   199   129   169   67

93    109   129   54    59    151   142   52    172   167   198   99    105   57    76

281   181   88    94    59    91    289   130   192   37    198   168   45    96    65

147   204   213   155   59    151   274   12    224   194   34    29    228   57    275

22    16    1     182   59    41    79    52    42    69    160   274   16    57    85

12    13    99    41    59    91    156   21    36    297   272   249   189   19    43

89    56    213   28    59    151   112   21    240   60    272   286   183   19    5

164   266   1     184   281   1     245   90    69    146   198   220   175   57    122

227   282   213   297   30    151   211   228   37    93    9     23    244   200   290

23    93    129   107   59    151   1     21    1     238   96    86    1     19    99

76    59    1     160   26    91    136   130   104   209   196   237   212   236   99

72    295   1     86    253   10    277   12    189   158   246   220   266   19    85

76    147   213   96    59    151   34    52    91    46    165   162   59    96    91

102   107   192   125   59    151   2     90    1     214   85    91    2     19    143

16    173   152   113   197   151   279   6     80    217   57    42    206   19    206

202   237   213   243   59    151   148   90    203   52    63    131   190   57    191

145   174   1     226   294   10    88    178   150   115   107   111   178   236   191

147   216   88    29     9    1     215   90    120   190   246   183   153   132   30
14    3     1     5      4    41    48    12    32    178   287   274   23    19    13

93    149   170   43    30    10    97    178   93    218   171   36    86    169   115

278   28    213   13    59    151   199   6     131   59    291   286   58    19    6

176   122   1     10    197   91    118   21    78    295   283   281   42    57    9

216   186   177   278   59    91    23    178   39    36    28    40    177   200   271

173   74    1     95    30    10    244   130   138   114   236   237   247   96    58

119   91    1     180   30    91    179   130   235   144   147   199   238   132   106

17    269   213   154   59    286   33    90    182   288   34    45    33    132   255

298   68    129   44    59    151   281   12    157   11    258   261   38    19    38

64    16    152   110   59    91    238   21    162   104   171   226   72    96    143

123   219   1     21    30    41    256   21    227   55    291   286   79    19    10

274   258   213   298   11    91    199   178   265   125   6     48    116   236   285

26    161   177   184   197   10    38    130   1     230   42    34    69    200   263

85    72    1     254   30    41    149   21    111   68    128   237   167   96    201

186   84    1     211   294   41    57    130   140   46    96    99    83    200   183

27    59    177   80    253   286   82    90    160   253   209   156   28    96    65

74    197   88    89    197   91    124   90    39    254   227   192   47    132   99

289   287   203   281   59    151   192   228   114   34    19    48    258   281   270

126   181   213   171   59    10    186   178   109   250   85    91    249   169   217

196   223   99    300   59    41    108   228   155   99    28    99    202   132   279

186   14    1     35    24    41    249   21    286   62    272   270   226   57    40

138   226   213   121   59    151   94    21    163   6     160   172   135   57    113

164   108   1     118   30    10    224   90    143   183   258   265   248   132   76

13    38    213   158   59    151   19    228   1     291   31    11    115   200   264

69    24    1     120   286   41    9     130   1     231   188   145   102   57    74

 6    11    1     86    26    151   295   21    296   1     264   281   252   4     58

63    230   1     138   59    151   179   21    253   175   216   274   121   19    232
158   233   1     242   268   1     194   130   166   154   107   172   172   169   176

112   58    1     60    59    151   174   21    263   228   216   246   78    19    43

138   42    162   201   59    151   44    90    95    166   80    83    186   96    133

66    69    1     26    197   151   158   21    178   279   246   226   9     57    40

186   191   1     204   197   1     228   130   96    122   154   203   203   132   149

126   209   142   194   289   10    97    178   70    137   53    77    84    200   228

145   113   1     119   59    10    62    178   129   123   160   136   36    169   122

 6    178   213   1     59    151   297   90    272   52    297   299   254   19    1

196   253   1     260   197   10    153   130   45    83    141   203   143   132   191

58    98    99    7     30    151   100   21    85    281   287   256   19    4     16

25    268   170   76    59    151   170   21    58    271   264   259   219   200   43

223   242   213   221   197   151   229   178   135   30    181   213   277   169   228

115   300   213   103   59    151   182   52    273   274   193   108   103   57    91

179   151   211   224   281   41    16    298   193   55    96    123   93    169   226

202   274   1     153   59    151   206   228   63    162   160   83    270   236   129

38    109   213   24    253   151   34    52    188   64    216   230   22    4     53

131   111   1     187   253   10    73    90    26    90    188   203   165   169   143

69    44    1     142   281   10    67    12    1     131   258   286   107   57    91

287   279   1     101   281   10    290   52    266   107   165   179   265   57    76

131   131   1     49    253   91    258   52    145   223   277   286   262   19    36

271   161   1     85    197   151   149   130   238   13    236   198   76    169   58

112   154   170   193   59    91    132   228   38    267   102   99    243   200   217

105   271   1     145   59    41    209   90    163   131   236   261   150   96    89

227   238   142   156   236   10    256   130   160   158   90    77    211   169   228

292   215   1     147   24    41    212   130   226   67    135   136   164   169   115

119   140   300   77    59    151   104   178   99    200   132   54    158   132   99

213   248   213   62    59    151   177   289   1     236   90    45    241   132   85
254   199   1     196   59    10    250   90    256   119   121   99    256   96    180

61    36    1     6     30    91    213   12    248   265   297   297   15    4     10

138   49    213   57    59    151   4     90    47    8     246   237   30    4     43

179   225   142   164   18    10    218   178   135   172   90    65    55    169   206

23    5     213   167   59    151   144   90    199   199   133   192   44    1     133

292   153   213   294   59    151   108   255   89    33    19    19    215   200   283

216   179   199   279   59    91    5     228   1     116   14    16    71    200   283

36    194   1     241   289   151   142   21    67    131   165   211   193   19    163

93    262   213   14    59    286   3     228   64    290   243   40    69    271   27

194   250   88    229   13    1     222   130   211   121   177   226   21    132   156

74    99    1     179   197   91    94    52    98    136   198   245   146   132   159

 6    15    142   26    59    41    291   1     298   286   209   249   56    4     106

244   84    213   192   253   151   40    130   121   35    151   140   155   169   166

223   277   1     252   59    91    206   178   133   119   69    115   169   200   226

85    240   177   111   59    91    108   90    1     268   116   56    81    169   172

196   210   1     102   253   41    167   178   119   186   209   115   168   236   99

102   235   1     46     7    41    158   130   103   246   188   68    104   169   106

 2    54    152   128   59    151   39    21    1     283   149   220   13    4     156

154   181   99    157   59    41    191   178   117   225   171   199   230   132   133

147   256   1     34    236   91    284   52    258   129   277   274   208   19    50

261   91    1     219   30    91    175   228   201   43    53    48    213   236   247

138   113   99    165   253   91    23    228   51    222   116   86    98    259   198

164   138   1     171   30    91    108   130   127   193   124   156   50    96    159

115   245   208   173   59    151   69    255   261   289   42    19    6     236   223

242   119   142   232   197   91    32    178   79    15    100   127   163   96    183

227   33    1     64    59    91    240   90    257   57    252   261   246   96    32

97    84    99    257   59    91    79    52    30    129   124   237   179   57    176
186   293   1     255   289   1     222   130   115   162   121   186   171   132   201

147   184   152   167   59    41    53    228   60    206   90    59    148   259   206

126   145   1     92    197   41    92    130   122   186   236   203   61    96    76

119   214   1     11    294   91    238   52    251   92    272   256   199   57    12

158   100   129   161   197   151   27    90    23    113   229   249   123   169   129

135   50    1     42    268   41    219   52    235   198   227   218   8     96    58

158   97    1     71    59    151   182   52    156   86    216   220   49    96    53

135   148   213   212   59    151   88    178   135   191   89    69    137   286   212

176   64    213   22    236   151   269   21    219   3     291   293   245   96    36

147   142   99    209   59    91    136   228   73    225   133   172   231   200   223

173   120   1     215   30    10    82    130   87    72    154   199   144   236   183

202   113   162   189   59    151   40    228   152   69    144   162   114   200   156

176   124   129   251   197   151   73    90    89    278   57    74    197   236   253

216   207   99    46    59    151   163   130   1     162   188   65    91    200   91

 3    1     99    15    59    91    16    21    62    287   258   203   26    19    22

179   187   99    263   268   91    199   130   207   167   116   140   220   169   201

123   261   213   48    59    151   136   52    24    203   181   86    95    169   91

58    72    99    31    59    91    128   178   202   98    277   274   85    57    35

192   288   99    131   197   91    215   130   70    210   196   156   138   132   113

154   27    213   19    59    151   112   130   142   151   291   293   127   4     16

254   289   142   281   59    151   192   228   49    86    28    36    253   236   271

97    54    142   36    236   41    149   52    206   147   243   234   31    57    27

60    2     213   3     59    151   25    21    41    270   291   281   7     4     6

261   22    99    184   59    41    283   130   294   171   129   203   264   96    166

164   145   192   206   253   151   13    255   146   49    116   74    67    259   191

202   169   1     61    299   91    73    90    105   49    252   230   120   96    58

202   102   1     180   59    91    57    178   74    40    193   203   117   200   166
232   206   152   203   59    10    40    255   76    110   90    82    173   259   198

179   37    1     100   253   151   199   130   261   202   209   242   224   96    76

244   154   213   134   300   91    234   130   218   24    216   186   287   200   133

158   31    99    115   59    91    115   90    134   172   252   249   142   57    91

271   83    1     234   236   151   245   52    184   43    85    186   222   19    240

89    158   213   208   59    151   285   6     169   298   3     1     122   169   299

164   172   1     57    197   10    170   178   113   272   144   42    126   200   106

93    84    129   29    197   151   100   52    99    284   229   218   136   57    16

138   125   192   104   59    151   118   178   244   252   19    9     35    200   277

105   7     170   124   59    151   12    90    34    285   181   127   48    57    106

115   213   213   33    59    151   8     178   72    155   49    7     5     19    142

85    76    185   144   30    41    67    90    31    138   229   234   146   132   122

237   84    1     75    59    91    186   52    141   157   252   259   204   57    64

135   21    213   90    30    151   263   21    277   243   151   152   251   19    91

61    102   1     140   30    151   22    178   1     179   74    36    18    96    223

210   84    213   148   59    151   16    255   1     66    85    71    10    57    215

154   169   129   70    197   10    144   130   170   244   165   111   63    169   73

216   298   88    262   294   10    213   178   84    107   102   168   187   169   201

173   69    88    223   30    151   34    130   54    76    135   192   134   169   180

258   84    208   230   236   151   127   130   106   77    129   152   170   132   183

154   40    1     25    30    91    229   52    143   257   283   286   216   57    24

164   160   88    228   59    41    153   130   208   227   96    172   75    132   189

32    121   129   159   59    151   64    52    159   268   124   108   210   57    152

 4    297   88    2     59    151   79    21    215   299   300   297   111   1     2

40    201   196   270   59    151   121   224   280   39    19    56    300   271   262

71    48    170   20    20    151   97    52    239   259   246   230   14    4     20

258   136   1     202   197   10    132   178   184   72    141   162   161   236   166
267   228   213   130   59    151   234   130   259   127   129   80    151   132   133

40    296   177   217   59    151   121   224   275   40    135   192   291   132   176

274   26    88    12    59    41    48    52    99    58    216   179   39    19    22

247   223   213   109   268   91    242   228   179   72    229   179   289   292   106

289   270   99    235   197   91    288   228   212   206   38    27    250   259   269

292   19    1     51     3    10    275   228   297   69    287   293   225   19    38

247   129   1     233   30    41    186   52    242   131   102   230   175   57    190

247   152   189   169   59    151   53    178   210   78    177   131   118   200   152

138   241   1     53    59    151   60    90    197   12    283   274   152   19    24

192   42    213   152   253   151   57    90    230   197   149   111   110   200   143

186   125   192   205   236   151   72    255   132   72    123   99    139   169   172

85    34    1     166   59    151   27    90    27    167   141   145   94    132   152

216   128   213   123   59    151   209   130   209   89    216   213   272   132   152

237   132   1     190   197   41    115   130   91    85    181   249   160   200   143

68    74    1     59    286   151   40    21    99    143   264   246   3     19    43

261   157   162   271   289   41    94    228   112   51    72    123   196   200   238

112   175   170   175   59    151   132   178   35    220   111   115   216   96    198

186   195   129   214   59    151   199   178   228   257   57    65    154   200   245

298   291   213   249   59    151   121   224   289   78    72    99    296   271   245

179   159   99    79    268   91    124   178   247   82    171   131   65    169   115

300   221   213   291   59    151   73    272   153   31    6     23    260   259   285

196   284   1     210   59    151   234   178   75    281   111   97    236   132   217

242   139   177   292   197   91    88    228   57    90    49    108   133   236   267

281   142   213   126   289   41    224   228   172   16    181   145   281   132   129

270   264   162   276   59    10    175   228   214   123   17    30    161   200   276

297   125   213   173   197   91    229   228   270   14    135   156   288   200   115

40    165   213   170   268   151   219   296   292   2     42    30    51    286   241
237   193   213   99    197   151   229   178   197   116   171   127   280   132   106

202   80    99    272   253   41    104   52    46    135   67    152   113   132   236

164   93    1     143   30    41    64    130   175   155   165   183   98    132   127

281   167   213   145   197   41    259   178   250   37    202   203   269   96    149

210   132   99    277   18    41    199   178   191   246   42    111   123   132   253

247   267   185   275   197   91    269   272   76    205   63    62    299   271   257

34    280   99    238   59    151   182   272   205   65    80    115   214   96    183

295   118   1     195   59    91    44    130   118   17    154   172   100   169   159

216   104   99    191   59    41    48    178   108   94    124   115   52    271   180

 6    34    1     127   30    151   226   130   194   4     216   265   68    96    76

 6    24    1     68    26    41    240   284   279   5     236   213   119   57    51

107   63    152   74     7    41    132   52    232   276   202   140   131   57    67

40    249   99    248   30    151   182   272   126   8     102   179   157   19    217

202   96    152   219   294   91    21    178   22    141   158   168   96    200   171

78    123   152   4     59    91    170   90    246   21    291   286   20    19    4

97    51    213   91    59    151   100   21    215   277   90    17    174   4     83

213   195   162   289   20    41    82    255   83    102   63    99    191   236   257

261   113   1     235   236   151   47    228   59    80    102   136   159   200   244

40    245   185   295   59    151   104   292   180   25    11    27    88    292   288

223   285   99    274   59    151   136   228   180   242   38    140   54    169   267

158   16    99    37    59    91    219   178   268   294   264   274   185   19    32

158   20    213   65    30    151   275   6     149   228   246   145   223   4     51

244   136   88    247   236   91    88    255   130   94    100   168   66    200   201

271   161   177   269   59    41    115   228   124   101   53    86    242   259   241

289   234   213   178   197   41    242   255   251   27    181   162   297   236   206

247   231   213   259   197   151   215   90    190   292   26    42    198   169   291

78    112   185   117   197   91    136   292   222   214   71    23    97    132   159
40    294   213   149   59    286   53    299   231   175   9     3     268   286   287

261   252   191   244   59    41    73    284   68    125   11    10    24    281   293

179   93    152   108   59    286   261   21    282   179   147   234   188   4     115

40    245   196   287   236   91    170   272   175   19    19    77    106   236   298

123   41    213   39    59    286   199   90    284   141   252   162   234   19    48

296   113   213   258   59    151   69    178   123   61    80    127   108   200   212

126   8     1     115   30    41    147   90    259   260   193   213   39    57    99

232   4     99    32    20    151   179   289   254   112   283   281   27    19    24

232   188   142   256   59    41    194   228   165   145   67    99    52    236   252

278   69    129   151   268   151   87    130   55    43    209   172   64    292   141

227   290   99    266   59    151   153   272   221   248   49    156   73    169   266

278   45    129   183    2    151   53    90    94    27    216   242   87    19    149

40    201   213   200   236   151   167   255   172   23    49    74    132   259   217

213   205   199   250   59    151   104   272   270   233   76    71    182   259   247

261   156   213   98    13    151   278   130   228   162   202   131   283   19    115

237   132   213   199   253   91    250   178   212   167   165   145   276   169   175

20    132   213   82    30    286   92    90    233   251   111   19    201   200   217

102   59    99    104   59    286   15    52    1     264   202   152   129   200   67

287   228   152   227   59    151   13    178   33    32    53    54    92    169   241

281   104   213   52    236   286   296   52    277   212   144   48    294   299   129

179   218   213   134   59    151   255   178   82    265   202   123   278   200   122

78    65    99    207   197   151   124   90    196   40    107   213   57    96    191

30    39    213   197   59    151   100   178   248   293   14    19    282   259   281

258   106   189   141   59    91    27    130   50    148   80    56    141   132   233

164   244   213   84    59    151   298   1     254   175   171   70    60    259   83

235   101   213   96    197   286   272   130   241   234   158   91    275   132   133

235   276   213   240   281   91    253   272   275   194   57    62    284   271   247
 6    6     213   45    30    151   52    1     298   240   272   270   109   96    40

274   275   213   280   197   41    287   255   151   127   69    115   298   236   247

40    235   213   239   59    151   158   255   171   18    40    48    123   286   255

78    29    213   67    59    151   82    130   217   52    264   281   34    57    85

40    220   203   286   13    151   166   272   106   10    42    156   12    200   259

40    79    213   150   59    151   34    272   148   83    34    30    255   200   259

227   59    213   122   268   151   226   228   287   234   216   162   274   132   127

281   8     162   69    30    91    298   1     284   232   252   246   32    19    56

196   80    213   114   59    41    206   178   264   213   135   98    273   169   166

40    188   142   267   59    151   167   255   80    6     76    145   195   292   235

210   52    213   137   236   41    267   130   282   244   111   62    286   57    172

216   273   212   285   59    151   11    255   139   102   57    123   127   236   264

247   211   206   293   253   151   20    272   175   100   19    30    90    292   279

78    12    170   38    59    151   261   130   237   296   277   293   180   19    32

66    299   213   93     4    300   264   52    274   240   42    6     25    236   206

267   197   213   231   59    151   279   255   242   274   63    59    293   271   233

281   272   213   296   268   151   282   284   86    153   14    23    295   271   282

196   286   206   283   59    41    7     297   244   218   42    91    232   300   238

78    30    129   17    197   286   128   178   281   263   277   261   4     4     19

267   283   213   261   197   151   245   284   158   206   40    59    279   281   259

40    10    213   299   59    151   69    21    223   300   1     4     11    236   297

202   203   201   213    9    151   62    130   124   192   17    11    181   236   293

256   257   213   288   236   151   250   255   154   204   26    45    261   271   274

40    45    213   66    59    91    9     284   97    214   258   265   221   292   58

237   192   213   245   59    91    271   178   287   260   80    115   290   132   206

274   259   213   290   197   286   267   289   219   279   11    11    285   281   292

40    32    142   9     59    151   27    224   298   148   264   145   89    57    15
256   140   213   188   30    286   234   272   204   238   57   35   292   281   236

40    166   213   265   236   151   156   294   269   104   2    1    149   292   300

223   53    213   218   253   286   245   255   184   255   32   11   271   259   271

40    227   213   264   13    151   260   295   290   196   19   36   184   286   277

40    265   213   273   59    151   118   299   291   29    6    11   218   286   289
28     29      30       31   32       I       II       III    IV     V        VI       VII

pred pertix   perhis   blend peg   deducts   T Val   T Fund T Prop T Misc   T Tech   T Score

248    22       1      138   41     5942     2034    2389    689    178      652     73.23%

175    69      10       6     6     6118     1808     978    1375   1590     367     72.44%

207    34      59       70   12     6191     1689     815    1491   1534     662     72.11%

193    36      16       14   19     6325     1009    2753    731    1238     594     71.51%

238    46      23       5    49     6439     1297    2026    973    1524     619     71.00%

271    18      16       36    9     6467     1680    1342    1865   1064     516     70.87%

256    10       1      106   11     6616     2153     922    1537   1576     428     70.20%

192   105      37       29   53     6623     1947    2472    1121   606      477     70.17%

269    19      13      111   21     6826     1816    1340    1574   1588     508     69.25%

47     86      59       59   50     6869     2238    1607    1047   1596     381     69.06%

186    32      16       1    14     7063     1637    1994    1238   1626     568     68.18%

58     99      92      273   102    7215     2691    2708    714    644      458     67.50%

121    74      59       63   55     7305     2165    2111    916    1488     625     67.09%

166    45      23      188   58     7319     2566    1548    1419   1404     382     67.03%

290    2        1       42    7     7376     1556    1066    2736   1726     292     66.77%

189    40      23       75   37     7389     2612    1791    1148   1518     320     66.72%

115    53      23       45   81     7401     2176    2615    664    1334     612     66.66%

178    16      23      106   20     7425     2023    1872    1474   1580     476     66.55%

100    69      37      112   23     7566     2623    1237    1506   1888     312     65.92%

265    2       23       14    8     7620     1782    1499    1658   2386     295     65.68%

272    28      16       10   18     7638     1352    2571    1082   2060     573     65.59%

275    1       16       29   10     7647     1379    2101    2277   1662     228     65.55%

183   126      120      45   13     7827     2309    2119    2367   752      280     64.74%

71     78      92      179   158    7912     3905    2573    742     96      596     64.36%

146   110      76       84   74     7940     2361    3407    835    764      573     64.23%
19    160   92    126   161   7987   3599   2231   935    686    536   64.02%

143   69    92    281   174   8022   3211   2689   865    812    445   63.86%

243   84    46    40    66    8085   1653   4027   1033   782    590   63.58%

142   23    10    92    24    8103   1714   3082   1525   1314   468   63.50%

 1    169   157   112   40    8140   3168   2465   1555   612    340   63.33%

205   96    59    14    63    8147   1806   3098   996    1838   409   63.30%

171   124   92    82    42    8292   2855   2782   1743   552    360   62.65%

204   62    59    87    91    8415   2743   2477   1276   1516   403   62.09%

257   12    23    106   52    8429   2275   2436   1454   1732   532   62.03%

187   113   140   126   43    8468   2896   3618   946    480    528   61.86%

170   7     1     82    46    8535   1793   2196   1499   2696   351   61.55%

135   112   182   262   118   8656   2965   3104   1011   1116   460   61.01%

214   13    10    152   27    8668   2441   1784   2173   2052   218   60.95%

293   30    46    13    250   8713   2196   4040   1209   652    616   60.75%

229   58    23    12    34    8728   2212   2630   1524   1800   562   60.68%

264   55    13    41    38    8745   1391   3545   1271   1952   586   60.61%

24    121   92    182   128   8749   3343   2842   564    1398   602   60.59%

79    216   240   163   84    8779   3726   2574   1564   586    329   60.45%

277   8     59    7     30    8786   1388   3493   1688   1928   289   60.42%

128   119   80    101   80    8819   3016   3397   719    1094   593   60.27%

172   66    16    95    93    8829   2801   3027   1009   1440   552   60.23%

261   43    92    17    104   8872   1586   3374   1627   1862   423   60.04%

211   80    157   47    54    8891   1995   2691   1852   2052   301   59.95%

296   31    9     19    29    8904   2087   1413   2258   2934   212   59.89%

136   24    13    160   36    8920   1943   3813   1591   1136   437   59.82%

45    206   157   171   98    8925   3342   3515   906    718    444   59.80%

161   122   92    152   152   8932   3540   2992   980    962    458   59.77%
288   185   59    20    25    8973   1658   3904   1379   1466   566   59.58%

210   52    92    57    113   8975   2770   3172   1605   1178   250   59.57%

 7    25    1     95    106   8997   1784   3845   824    1954   590   59.47%

230   114   46    242   107   9007   3272   3157   1040   964    574   59.43%

119   160   140   122   83    9074   2663   3127   1526   1412   346   59.13%

145   158   120   168   228   9087   3965   3191   817    546    568   59.07%

113   82    120   77    92    9122   2775   3808   1065   948    526   58.91%

 1    4     76    31    2     9127   1921   3439   1808   1726   233   58.89%

274   28    120   207   138   9138   2244   4175   1546   610    563   58.84%

239   27    46    35    32    9155   1384   3588   1982   1694   507   58.76%

101   51    37    59    143   9223   2182   4350   717    1376   598   58.45%

106   171   182   267   115   9235   3796   3017   1568   502    352   58.40%

286   115   92    11    243   9243   3530   2064   2245   1144   260   58.36%

150   67    59    58    108   9258   2053   3674   1270   1642   619   58.30%

57    76    120   138   96    9259   2207   4501   991    1154   406   58.29%

 1    14    46    22    4     9268   1578   2973   1240   3032   445   58.25%

117   98    59    68    39    9280   2450   3194   1444   1684   508   58.20%

154   257   227   249   142   9322   4277   1344   2053   1300   348   58.01%

81    232   157   106   117   9338   4105   2073   1873   940    347   57.94%

96    179   157   164   162   9343   3681   3214   1473   548    427   57.91%

201   33    37    54    64    9348   1855   4336   872    1708   577   57.89%

232   37    59    149   44    9369   1562   4745   1603   1006   453   57.80%

199   194   140   119   149   9371   3800   3157   1231   542    641   57.79%

258   198   157   9     22    9383   2793   2222   2544   1624   200   57.73%

234   273   251   65    28    9384   2785   3470   1008   1668   453   57.73%

255   38    46    250   217   9387   2807   3728   893    1328   631   57.72%

195   55    37    36    110   9420   2388   3895   1691   818    628   57.57%
18    165   140   195   114   9439   3553   3336   753    1276   521   57.48%

281   60    80    106   72    9440   2356   3721   1425   1416   522   57.48%

111   164   120   55    86    9444   2684   3459   1219   1718   364   57.46%

208   21    23    47    15    9447   1775   3440   1078   2656   498   57.45%

42    184   92    211   207   9457   4069   3314   717    796    561   57.40%

137   250   140   155   76    9485   3182   3097   1982   900    324   57.27%

38    194   182   116   132   9523   3019   4709   688    692    415   57.10%

233   79    157   279   250   9592   3758   3278   1211   748    597   56.79%

29    201   157   162   156   9596   3502   3561   889    1040   604   56.77%

98    140   46    52    146   9606   2889   3498   1025   1644   550   56.73%

152   26    23    34    133   9643   3173   2966   1201   1704   599   56.56%

62    157   92    172   47    9645   2904   2656   1714   1756   615   56.55%

266   10    23    105   35    9671   2481   3286   1664   1836   404   56.44%

35    46    59    135   33    9673   1884   4572   1356   1418   443   56.43%

184   222   182   150   31    9673   3668   2621   1428   1560   396   56.43%

300   138   1     32    1     9676   1022   3511   1727   2946   470   56.41%

65    116   120   95    136   9693   2738   4247   904    1226   578   56.34%

131   65    46    50    211   9708   2594   4371   735    1322   686   56.27%

80    134   80    260   250   9708   4425   2660   822    1356   445   56.27%

138   85    120   132   224   9713   3990   2654   853    1604   612   56.25%

216   39    120   172   51    9714   1971   4035   1301   1888   519   56.24%

88    203   157   91    68    9729   3736   2215   1802   1582   394   56.18%

56    137   80    138   198   9744   3550   4331   481    740    642   56.11%

94    232   140   257   205   9767   4654   2709   1509   572    323   56.00%

139   222   208   251   129   9769   3764   3864   745    978    418   56.00%

235   89    208   56    79    9780   2850   2678   1973   2016   263   55.95%

247   75    262   67    67    9813   3508   2264   1842   2002   197   55.80%
23    109   120   270   187   9814    3986   4247   917    248    416   55.79%

225   54    37    47    123   9819    2447   4117   1103   1552   600   55.77%

109   15    92    26    286   9830    2282   4417   945    1646   540   55.72%

83    243   157   179   213   9831    4289   3110   1489   624    319   55.72%

140   44    59    24    165   9836    2376   4204   1334   1430   492   55.69%

155   131   208   229   145   9838    3499   3258   2105   644    332   55.68%

125   146   120   159   97    9850    2892   3748   1863   1038   309   55.63%

245   102   23    33    178   9872    2785   2493   1395   2582   617   55.53%

282   119   92    78    5     9913    2790   2819   1659   2348   297   55.35%

85    147   92    205   208   9918    3645   4060   1149   432    632   55.32%

176   125   80    74    183   9938    2988   3867   1169   1292   622   55.23%

249   105   288   21    3     9945    2236   4898   1895   432    484   55.20%

103   206   76    176   85    9954    2673   4213   1299   1286   483   55.16%

37    229   208   233   199   9969    4453   3634   1060   386    436   55.09%

217   94    92    78    73    9977    2894   3175   1893   1732   283   55.06%

34    172   182   217   116   9979    3895   3646   558    1454   426   55.05%

227   141   120   85    153   9980    3617   3434   1509   1118   302   55.05%

283   69    37    1     204   9981    2748   2919   1765   2052   497   55.04%

32    191   182   87    139   10021   3959   2768   1289   1478   527   54.86%

164   83    46    138   134   10030   3065   3236   1396   1748   585   54.82%

46    271   240   143   175   10106   3978   3404   1126   1278   320   54.48%

97    156   120   202   57    10117   3179   4054   1409   1108   367   54.43%

165   188   157   176   89    10143   3115   4019   1234   1324   451   54.31%

158   59    92    188   16    10146   2829   3550   1821   1712   234   54.30%

114   232   182   118   62    10176   2539   4154   1318   1706   459   54.16%

226   194   140   124   75    10200   2826   4376   1325   1096   577   54.05%

160   176   59    87    120   10209   2724   3805   1480   1582   618   54.01%
68    181   140   216   157   10229   4010   4066   959    632    562   53.92%

63    201   208   158   131   10316   3904   4142   1426   528    316   53.53%

148   185   92    95    154   10349   3216   3675   1075   1852   531   53.38%

144   86    59    59    250   10359   3381   3887   760    1792   539   53.34%

40    169   140   101   171   10359   3117   4298   761    1544   639   53.34%

48    95    80    147   109   10379   2673   4686   857    1676   487   53.25%

185   101   59    129   59    10380   2001   4255   955    2662   507   53.24%

127   103   92    169   126   10390   3368   4337   1423   892    370   53.20%

224   133   46    150   82    10401   2365   3795   1477   2158   606   53.15%

92    248   182   69    159   10413   4233   2447   1769   1450   514   53.09%

27    232   157   115   195   10466   3570   4492   958    878    568   52.86%

54    183   182   152   181   10523   3408   4932   948    740    495   52.60%

70    165   182   194   95    10582   3840   3853   1413   1094   382   52.33%

203   42    37    114   193   10617   3295   3419   1610   1994   299   52.18%

228   89    46    1     17    10659   1677   4694   1534   2278   476   51.99%

149   110   92    134   196   10668   3838   3145   1396   1770   519   51.95%

276   34    80    65    290   10699   3795   2653   1972   1964   315   51.81%

162   118   23    43    250   10701   3018   3470   1313   2318   582   51.80%

130   130   92    206   170   10704   3987   3442   1216   1576   483   51.78%

289   88    120   26    26    10721   1877   4573   1710   1958   603   51.71%

 1    206   240   187   223   10726   4619   2696   1408   1658   345   51.68%

182   132   80    99    250   10726   3233   4748   1304   928    513   51.68%

268   89    157   22    148   10801   2562   4215   1649   1800   575   51.35%

157   162   140   254   166   10858   4134   3547   1359   1302   516   51.09%

44    182   182   119   121   10884   2858   4536   1260   1834   396   50.97%

129   167   92    164   169   10885   3001   4717   692    1932   543   50.97%

67    194   157   122   241   10905   3562   5148   907    712    576   50.88%
82    220   208   229   210   10917   4364   4370   1192   616    375   50.82%

147   143   157   130   250   10964   4243   3909   1259   1002   551   50.61%

72    214   140   131   173   10965   3714   3052   1543   2120   536   50.61%

105   185   120   174   167   11008   3448   4174   1090   1680   616   50.41%

212   96    80    186   242   11009   3478   3015   1973   2038   505   50.41%

86    6     1     50    48    11028   2550   4657   2475   1134   212   50.32%

77    152   182   145   212   11063   4424   4027   1215   1154   243   50.17%

262   191   92    103   209   11069   3919   3963   1443   1268   476   50.14%

209   49    92    100   90    11078   2816   3222   2462   2446   132   50.10%

252   50    80    80    45    11090   2167   4105   1932   2454   432   50.05%

298   20    1     138   222   11106   2832   3937   2196   2052   89    49.97%

28    203   157   70    250   11114   3700   4681   966    1160   607   49.94%

179   93    80    213   150   11139   3337   3833   1047   2336   586   49.82%

156   41    46    93    65    11162   2678   4013   1408   2670   393   49.72%

291   155   182   25    164   11163   2892   3583   2018   2420   250   49.72%

267   138   260   39    287   11198   3380   3840   2072   1602   304   49.56%

180   152   140   137   225   11243   4088   4290   1399   1120   346   49.36%

61    218   182   245   192   11248   4354   3888   1068   1406   532   49.33%

69    163   157   87    250   11315   3467   4735   1147   1416   550   49.03%

 9    253   262   220   122   11315   3572   4788   1090   1354   511   49.03%

194   178   120   167   70    11319   3400   4726   1013   1586   594   49.01%

95    179   140   160   185   11337   3904   4625   1100   1212   496   48.93%

181   173   76    18    250   11341   3949   3232   1315   2454   391   48.91%

242   62    59    1     250   11345   3567   4111   1468   1600   599   48.90%

295   291   275   243   124   11346   3991   3823   2185   1002   345   48.89%

297   4     37    36    206   11352   2693   4908   1717   1538   496   48.86%

59    231   208   252   247   11364   4437   4664   888    870    505   48.81%
177   107   92    157   235   11409   3938   3381   1891   1860   339   48.61%

294   129   251   221   295   11427   4405   4031   1811   636    544   48.53%

221   81    240   229   135   11432   2480   5677   1476   1392   407   48.50%

93    243   182   199   163   11440   4385   3054   1504   1980   517   48.47%

169   242   182   271   160   11464   5068   2933   2005   1158   300   48.36%

215   57    182   225   194   11469   3526   5470   1300   542    631   48.34%

112   127   120   248   250   11469   4042   5376   1108   378    565   48.34%

218   148   208   148   111   11475   2992   5088   1476   1442   477   48.31%

287   108   240   80    151   11476   2530   4820   1532   1984   610   48.31%

120   206   140   182   56    11491   3047   5426   1292   1314   412   48.24%

107   190   157   145   190   11492   3530   4341   1346   1848   427   48.23%

246   272   157   121   78    11550   2907   5093   1458   1640   452   47.97%

26    278   182   85    71    11582   3327   4414   1659   1630   552   47.83%

52    189   182   236   250   11612   4195   4972   743    1082   620   47.69%

206   128   92    62    60    11627   1760   5552   750    2996   569   47.63%

16    228   208   223   238   11672   4302   4501   1155   1248   466   47.42%

151   247   140   53    179   11675   4066   2744   1972   2492   401   47.41%

163   104   120   204   103   11676   3752   3548   1636   2404   336   47.41%

292   267   251   228   237   11685   5039   3195   2287   744    420   47.36%

173   221   157   126   220   11686   3659   4555   1487   1604   381   47.36%

 1    289   271   255   250   11690   4917   3027   1376   2050   320   47.34%

76    226   182   208   87    11719   4418   3906   1201   1776   418   47.21%

12    253   208   215   182   11734   4048   4434   1305   1498   449   47.14%

108   216   227   155   239   11741   4252   3553   1212   2272   452   47.11%

30    222   251   274   125   11748   4166   4696   1521   1042   323   47.08%

25    173   227   217   188   11800   4019   4112   1215   1990   464   46.85%

237   135   92    284   144   11823   3045   4201   2323   2012   242   46.74%
11    250   182   133   61    11918   3557   4404   1232   2328   397   46.32%

78    143   157   125   112   11923   2844   5117   1427   2044   491   46.29%

196   269   208   200   119   11927   3528   4455   1351   2102   491   46.27%

31    269   208   195   99    11935   3666   4519   1390   1810   550   46.24%

110   212   182   209   177   12001   4379   4491   1415   1286   430   45.94%

75    263   251   268   232   12019   5712   2319   1828   1760   400   45.86%

41    151   275   192   180   12065   3744   5022   1054   1812   433   45.65%

87    198   227   213   250   12097   3771   5677   934    1194   521   45.51%

50    240   208   169   226   12140   3919   5154   1069   1568   430   45.32%

219   175   240   202   168   12165   2821   5300   1094   2342   608   45.20%

191   294   281   288   250   12174   4108   5523   1142   884    517   45.16%

159   206   80    70    94    12181   3179   6135   1425   1026   416   45.13%

188   274   251   259   245   12187   4169   4222   1817   1450   529   45.10%

17    238   182   143   219   12267   3949   4863   1122   1788   545   44.74%

236   73    157   243   184   12270   2570   5589   1468   2062   581   44.73%

260   17    59    64    69    12292   2381   5078   1929   2706   198   44.63%

141   259   208   212   214   12323   4464   4554   1580   1274   451   44.49%

64    212   182   195   249   12348   4189   4939   1159   1588   473   44.38%

153   284   265   264   201   12444   4100   4946   1895   1170   333   43.95%

15    226   208   198   216   12483   4695   4223   1305   1808   452   43.77%

280   61    182   103   176   12496   3763   5723   1495   940    575   43.71%

202   9     16    76    250   12503   3516   4156   1667   2708   456   43.68%

60    277   240   240   231   12506   4368   4752   1111   1760   515   43.67%

91    246   240   258   246   12540   4892   4531   1503   1206   408   43.51%

10    253   240   227   248   12553   4899   3705   1450   1978   521   43.45%

132   100   46    278   77    12588   3880   3898   2085   2398   327   43.30%

13    145   275   285   234   12616   4484   5230   1483   1208   211   43.17%
240   159   287   289   229   12635   4924   3893   2513   1144   161   43.09%

89    275   279   269   218   12636   4649   5038   2096   588    265   43.08%

222   64    23    225   250   12641   3815   3970   1599   2768   489   43.06%

124   249   208   275   221   12688   4082   4607   2068   1548   383   42.85%

134   154   140   44    289   12690   3928   4849   1558   1902   453   42.84%

33    135   240   222   250   12752   3905   6039   1355   988    465   42.56%

241   232   157   116   172   12760   3663   5223   1461   1892   521   42.52%

253   48    262   193   250   12842   3517   5604   1025   2100   596   42.15%

167   245   227   237   189   12882   4332   4555   1577   1996   422   41.97%

116   206   182   178   250   12908   3812   4349   1219   2996   532   41.86%

90    225   208   184   215   12917   4790   4345   1493   1818   471   41.82%

200   200   227   219   250   12918   3532   5030   1449   2266   641   41.81%

84    219   282   283   244   12922   4247   4775   1639   1938   323   41.79%

39    252   227   179   230   12926   5070   3970   1517   1972   397   41.77%

49    267   227   223   236   12939   4948   4527   1539   1494   431   41.72%

73    281   227   191   141   13015   4484   4325   1749   1948   509   41.37%

123   149   120   8     200   13050   3723   5065   2224   1826   212   41.22%

220   230   140   70    250   13108   4212   4195   1425   2818   458   40.95%

174   259   251   210   250   13167   4135   4777   1635   2286   334   40.69%

168   68    92    265   130   13231   4074   4606   1935   2372   244   40.40%

74    259   227   188   137   13235   4848   4388   1614   1926   459   40.38%

223   150   273   282   186   13299   3130   6082   1810   1750   527   40.09%

198   123   157   26    88    13346   3448   5379   2381   1908   230   39.88%

104   203   251   241   155   13369   3799   6066   2055   1172   277   39.78%

 1    141   157   93    203   13444   3770   5898   1399   2052   325   39.44%

36    117   208   200   202   13534   4527   4954   1522   2186   345   39.04%

102   259   268   256   191   13539   5354   3841   2017   1968   359   39.01%
285   300   288   295   288   13618   4845   4745   1087   2354   587   38.66%

 8    278   268   277   250   13633   5587   3794   1772   2016   464   38.59%

213   239   240   286   250   13654   4321   4284   2178   2544   327   38.50%

231   168   279   234   297   13656   3685   6144   1489   1726   612   38.49%

190   264   271   266   250   13764   4057   5484   1991   1748   484   38.00%

284   92    297   287   298   13809   4402   4910   2567   1716   214   37.80%

14    282   227   184   294   13826   5561   4630   1523   1612   500   37.72%

279   177   296   238   100   13849   3502   6011   1625   2144   567   37.62%

55    285   227   135   197   13904   4761   5505   1827   1464   347   37.37%

133   191   282   293   250   13955   4297   5783   1447   1940   488   37.14%

53    241   208   174   293   14017   5301   4807   1841   1758   310   36.86%

270   295   285   164   292   14018   4903   4819   2117   1714   465   36.86%

122   287   268   235   101   14066   3827   5918   1971   2008   342   36.64%

250   232   288   299   250   14288   5126   5453   1611   1490   608   35.64%

278   298   288   297   105   14463   4333   5815   1980   2194   141   34.85%

66    280   265   272   140   14468   5440   4686   2045   1944   353   34.83%

99    286   273   280   250   14534   5783   4001   1989   2428   333   34.53%

22    296   298   229   296   14564   5842   4958   1910   1438   416   34.40%

273   299   288   292   240   14576   4687   5502   1630   2202   555   34.34%

21    266   275   246   250   14580   5807   4252   1885   2276   360   34.32%

197   276   288   299   250   14771   4812   4650   2695   2310   304   33.46%

259   258   139   253   127   14775   4144   5144   2698   2548   241   33.45%

51    283   260   247   250   14920   5730   4363   2128   2340   359   32.79%

263   256   300   294   291   14973   5370   5167   1619   2228   589   32.55%

126   293   227   263   250   15049   5762   5026   2075   1746   440   32.21%

43    287   285   276   147   15053   5636   4830   2193   2082   312   32.19%

299   297   288   298   250   15084   4425   7014   1649   1578   418   32.05%
20    290   265   239   227   15145   5694   5084   2079   2008   280   31.78%

251   77    284   290   299   15311   4551   4816   2740   2936   268   31.03%

118   292   251   261   233   15783   5644   5054   2334   2490   261   28.91%

254   265   288   296   250   16502   5435   6311   2447   1990   319   25.67%

244   215   299   291   300   16669   4886   6414   2493   2586   290   24.91%
     Below are profiles for the 20 high-paying dividend names on our list of 76 current overall recommendations.
     At Standpoint Research we believe beating the market comes from stock selection, diversifying across all sectors and indus
     When you try and time the market, you must usually be right three times ... on the entry, exit and re
     In the table below, we highlighted some outliers in color. The highlights are absolute. On the main sheet (Dividends
     There are a few names [NOK, XLU, BMA and CHCO] on the list below that were not included in this




                                                     PRICE             MKT
             COMPANY NAME              TICKER       PER SHR            CAP          SECTOR
1               NOKIA ADR               NOK           4.88                18275      Tech
2       TELECOM ARGERNTN ADR             TEO         22.55                   2007   Telecm
3         BANCO MACRO SA ADR            BMA          29.94                   1746     Fin
4          MOBILE TELESYS ADR           MBT          15.37                15880     Telecm
5           INT'L BANCSHARES            IBOC         13.97                   946      Fin
6          HUDSON CITY BANC             HCBK          6.10                   3213     Fin
7              SUPERVALU                 SVU          6.74                   1430   CnStp
8                 PFIZER                 PFE         17.05               134714     Health
9                SANOFI                  SNY         31.57                85135     Health
10              CITY HLDG               CHCO         29.95                   456      Fin
11         SPDR UTILITIES INDEX          XLU         30.60                   4049   Other
12                INTEL                 INTC         19.93               105669      Tech
13       AMERICAN EAGLE OUTFT           AEO          11.32                   2206   CnDisc
14             SABESP ADR                SBS         49.36                   5623    Util
15              SAFEWAY                 SWY          17.61                   6236   CnStp
16                HARRIS                 HRS         34.52                   4391    Tech
17         GENERAL DYNAMICS              GD          58.38                21717     Indus
18              ENSCO PLC                ESV         43.69                   9981   Energy
19         PNC FIN'L SVCS GRP            PNC         45.28                23830       Fin
20          WAL-MART STORES             WMT          48.41               168107     CnStp
rrent overall recommendations. This table is sorted by dividend yield in column Q from highest to lowest.
ection, diversifying across all sectors and industries and by avoiding the temptation to take big sector and industry bets.
on the entry, exit and re-entry ... 75% of all fund managers under-perform the market over the long-run, and that is usually because of sector and in
absolute. On the main sheet (Dividends-300) relative-to-industry statistics are taken into consideration.
        included in this 300-stock report.




                                                    ROE           NET                       REVENUE         EARNINGS
                                                    5 YR        PROFIT        PURITY        5 YR HIST       5 YR HIST       BETA
                         INDUSTRY                   AVG         MARGIN           %          GR RATE         GR RATE         SPX
                 COMMUNICATIONS EQUIP                 31.6%           4.8%              -         -1.0%          -16.0%       1.01
                    INTEG TELECOM SVC                 43.7%           5.9%              -        10.0%           32.0%        1.06
                     DIVERSIFIED BANKS                23.9%         29.3%       100.0%                  -               -     1.05
                   WIRELSS TELECOM SVC                37.4%           8.3%              -        14.0%            -5.0%       1.73
                      REGIONAL BANKS                  12.0%         22.0%        95.0%            6.0%            4.0%        1.38
                  THRIFTS&MORTGAGE FIN                 8.3%         33.4%       100.0%           22.0%           16.0%        0.90
                        RETAIL-FOOD                   12.1%           0.7%           0.0%         1.0%           -12.0%       1.11
                     PHARMACEUTICALS                  12.5%         26.0%        65.0%            8.0%            1.0%        0.74
                     PHARMACEUTICALS                  11.3%         50.8%               -         3.0%           25.0%        0.89
                      REGIONAL BANKS                  14.3%         26.1%        86.0%            -2.0%           -4.0%       0.99
                  EXCHNGE TRADED FUNDS                     -          2.7%       97.0%                  -               -     0.68
                     SEMICONDUCTORS                   16.1%         25.1%        88.0%            5.0%           22.0%        1.03
                      RETAIL-APPAREL                  19.2%           6.7%       84.0%            2.0%           -19.0%       1.28
                      WATER UTILITIES                  9.9%         19.7%               -         9.0%           16.0%        1.37
                        RETAIL-FOOD                   14.2%           1.4%           6.0%         0.0%            -4.0%       0.69
                 COMMUNICATIONS EQUIP                 22.8%         10.5%        62.0%            7.0%           15.0%        0.96
                    AEROSPACE/DEFENSE                 20.6%           8.1%      100.0%            7.0%           11.0%        0.89
                    OIL & GAS-DRILLING                21.5%         38.9%        99.0%            -3.0%           -9.0%       1.33
                      REGIONAL BANKS                  12.3%         22.5%        78.0%           27.0%            1.0%        1.48
                  HYPRMKTS & SUPRCNTRS                22.4%           3.4%       99.0%            5.0%            9.0%        0.53
usually because of sector and industry bets gone bad.




               % OF LT       PRICE       PRICE                   DIVIDEND       RELATIVE        P/S       P/S           E'PRISE
               DEBT TO        TO          TO            DIV       5 YEAR        STRENGTH       LATEST    FWD           VALUE TO
               CAPITAL       BOOK        CASHFL     YIELD        GROWTH         NUMBER         4 QTRS    4 QTRS         EBITDA
                   25.0%           1.0    6.5            11.7%       -1.0%                 3      0.31          0.34           3.29
                    2.0%           3.3    5.1             7.1%       99.0%             71         0.51          0.46           2.09
                   14.0%           1.9    6.9             7.0%              -          11         2.04             -     N/A
                   65.0%           3.9    5.4             6.8%        2.0%                 7      1.41          1.25           5.99
                   11.0%           0.7    6.3             5.4%       -5.0%             17         1.78             -        13.22
                   73.0%           0.6    5.7             5.2%       16.0%                 3      2.52          3.03           8.75
                   83.0%           0.8    1.2             5.2%      -12.0%                 4      0.04          0.04           4.99
                   28.0%           1.6    5.2             4.7%      -11.0%             42         2.00          2.10           5.37
                   20.0%           1.0    2.9             4.6%       17.0%             45         2.02          1.65           3.09
                    5.0%           1.4    10.5            4.5%        4.0%             54         3.17          3.25           9.51
                         -         1.4     -              4.3%        4.0%             40         0.34          0.31              -
                    4.0%           2.1    6.2             4.2%       12.0%             37         2.18          1.90           4.53
                    0.0%           1.5    6.5             3.9%       10.0%             18         0.75          0.74           3.46
                   35.0%           0.8    4.8             3.8%        9.0%             73         1.30          0.95           4.84
                   53.0%           1.3    3.6             3.3%       19.0%             10         0.15          0.14           4.55
                   43.0%           1.6    5.3             3.2%       21.0%                 8      0.74          0.71           4.97
                   15.0%           1.5    6.8             3.2%       13.0%             19         0.67          0.63           5.09
                    4.0%           1.1    11.1            3.2%       65.0%             26         5.66          2.43           8.63
                   38.0%           0.8    6.1             3.1%      -37.0%                 9      1.62          1.67           7.69
                   43.0%           2.3    7.5             3.0%       14.0%             26         0.39          0.38           6.84
 P/E          P/E         P/E TO    11 P/E TO   BASE           PRICE       EARNINGS     EARNINGS
LATEST       FWD           5 YR     LT FUTURE   LINE   S&P    REL TO       ESTIMATE     ESTIMATE
4 QTRS       4 QTRS        AVG      GR RATE     SD     RANK   200 DAY      CURR YR      NEXT YR
       6.5      28.7          0.5      3.1       2-    NR         -43.3%        0.32         0.36
       8.6          8.4       0.5      2.0       -     NR          -8.8%        2.83         3.03
       6.9          6.0       0.5      0.5       -     NR         -28.1%        4.61         5.49
    16.9            8.3       1.1      0.6       2-    NR         -23.5%        1.86         2.19
       8.1            -       0.7      0.8       2-     B+        -22.2%        1.65         1.78
       7.5          7.9       0.4       -        2-     A         -40.3%        -0.55        0.82
       5.1          5.4       0.6      0.5       2-     B         -25.5%        1.25         1.30
       7.7          7.8       0.8      2.5      -1.7    B         -10.9%        2.25         2.28
       4.0            -       0.5     NM        -2.0   NR         -11.7%        4.84         4.67
    12.1        12.2          1.0      1.5      -1.8    B+        -11.3%        2.48         2.63
    12.4        12.7          0.9      1.5       -     NR          -5.1%        2.49         2.49
       8.7          8.3       0.5      0.8      -2.0    B+         -7.3%        2.38         2.50
    11.3        12.1          0.7      1.0      -2.0    B         -22.9%        0.94         1.07
       6.6          6.1       0.9      1.2       -     NR          -9.5%        6.91         7.04
    10.7            9.9       0.7      1.0       2-     B         -21.8%        1.72         1.91
       7.1          6.8       0.5      0.9       2-     A-        -25.7%        5.11         5.55
       8.3          8.0       0.6      1.2       2-     A+        -18.9%        7.20         7.67
    14.6            8.5       1.6      0.6       2-    NR         -17.7%        3.65         5.91
       7.2          7.5       0.5      1.2      -1.8    B+        -24.2%        6.16         6.38
    11.6        10.6          0.8      1.1       2-     A+        -10.1%        4.46         4.88
% BELOW    REV EST    REV EST
52 WEEK    CURR YR    NEXT YR
 HIGH      (MILL)     (MILL)
  -58.0%      55000      55000
  -17.0%       4300       4600
  -47.0%        689        866
  -35.0%      13000      14000
  -34.0%        517        542
  -54.0%       1100       1100
  -46.0%      37000      37000
  -21.0%      66000      63000
  -23.0%      49000      52000
  -23.0%        143        144
  -11.0%      13000      13000
  -17.0%      54000      57000
  -35.0%       3000       3100
  -22.0%       6200       6100
  -31.0%      43000      44000
  -35.0%       6200       6500
  -25.0%      33000      35000
  -28.0%       2900       4500
  -31.0%      14000      15000
  -16.0%     441000     462000
The table below shows the average stock score per industry in this report. You are advised not to overweight industries based exclusively on
industry, as the score could be skewed by outliers. Furthermore, there are factors the model does not take into consideration. Before overwe
that industry. For example, if Oil & Gas -- Integrated is scoring high, one might avoid that industry if one feels oil prices will drop sharply. If Ho
rates are rising and high. These must be user judgment calls, as we do not forecast oil prices, interest rates, etc ... Alo
and possibly unfavorable results in a forthcoming election, or other political risk, must be accounted for in evaluating fore
“apples and oranges”. We do have mechanisms in place to mitigate this, but there are more than 100 industries in the stock m


          N                                  Industry                                     #          Aggregate
          1       EDUCATION SERVICES                                                      1            73.23%
          2       INDPENDENT POWR PROD                                                    1            69.25%
          3       HC-EQUIPMENT                                                            1            66.66%
          4       AUTO PARTS & EQUIP                                                      1            65.68%
          5       SEMICONDUCTOR EQUIP                                                     2            130.09%
          6       COAL & CONSUME FUELS                                                    1            64.74%
          7       AEROSPACE/DEFENSE                                                       5            323.60%
          8       HYPRMKTS & SUPRCNTRS                                                    1            64.23%
          9       HC-SUPPLIES                                                             1            63.86%
         10       LEISURE PRODUCTS                                                        2            124.50%
         11       SEMICONDUCTORS                                                          7            434.78%
         12       ELECTRONIC MNFRG SVC                                                    1            61.55%
         13       COMMUNICATIONS EQUIP                                                    2            122.03%
         14       WIRELSS TELECOM SVC                                                     7            426.56%
         15       PHARMACEUTICALS                                                         9            545.66%
         16       SOFT DRINKS                                                             1            60.59%
         17       BREWERS                                                                 1            60.27%
         18       PERSONAL PRODUCTS                                                       2            117.34%
         19       RESTAURANTS                                                             2            116.70%
         20       HOUSEWARES & SPECS                                                      1            58.25%
         21       CONTAIN METAL/GLASS                                                     1            58.20%
         22       CABLE & SATELLITE                                                       2            115.17%
         23       SPECIAL CONSM SERV                                                      1            57.57%
         24       RETAIL-APPAREL                                                          3            170.91%
         25       TOBACCO                                                                 4            227.37%
         26       INV BANK & BROKERAGE                                                    1            56.79%
         27       MACHINERY INDUSTRIAL                                                    3            170.17%
         28       COMPU STORAGE/PERIPH                                                    1            56.41%
         29       HOME FURNISHINGS                                                        1            56.24%
30   SERVICES-DATA PROC     2    112.27%
31   OIL & GAS-INTEGRATED   8    449.04%
32   ASSET MANAGEMENT       4    223.73%
33   SPECIALTY STORES       1     55.77%
34   DISTRIBUTORS           1     55.72%
35   INSURANCE-LIFE/HLTH    6    333.16%
36   REGIONAL BANKS         10   553.77%
37   FOOD DISTRIBUTORS      1     55.32%
38   CHEMS-DIVERSE          1     55.06%
39   ELECTRICAL COMPONENT   2    109.93%
40   HOUSEHOLD PRODUCTS     3    163.51%
41   AUTOMOTIVE RETAIL      1     54.30%
42   THRIFTS&MORTGAGE FIN   4    216.42%
43   WATER UTILITIES        3    161.86%
44   PAPER PACKAGING        2    107.69%
45   DIVERSIFIED SUPP SER   3    161.12%
46   COMPUTER HARDWARE      1     53.24%
47   ELECTRIC UTILITIES     17   894.36%
48   CHEMS-SPECIALTY        2    104.81%
49   DIVERSIFIED BANKS      10   522.95%
50   INTEG TELECOM SVC      8    415.08%
51   DIVERSE METAL/MINING   1     51.81%
52   AIRFRGHT & LOGISTICS   1     51.78%
53   INSURANCE-BROKERS      2    103.40%
54   SERVICES-ENVIRONMNTL   3    154.63%
55   PACKAGED FOODS/MEATS   9    461.47%
56   SERVICES-OFFICE/SUPP   2    101.46%
57   RETAIL-HOME IMPROVE    2    101.04%
58   CONSUMER ELECTRONICS   1     50.41%
59   TRADE COS & DISTR      2    100.79%
60   HOTEL/RESORT/CRUISE    1     50.14%
61   INSURANCE-MULTI-LINE   1     50.05%
62   CHEMS-COMMODITY        1     49.97%
63   IND'L CONGLOMERATES    5    245.48%
64   MULTI-UTILITIES        21   1022.98%
65   STEEL                  4    193.39%
66   PUBLISHING             3    143.40%
67   GAS UTILITIES          11    524.37%
68   RETAIL-FOOD            1     47.63%
69   DISTILLER & VINTNERS   1     47.21%
70   SPECIALIZED REITS      6     281.78%
71   INSURANCE-PROP/CAS     7     326.08%
72   OFFICE REITS           5     229.30%
73   OIL & GAS-EXPL/PROD    6     270.93%
74   DIVERSIFIED REITS      3     134.45%
75   MARINE                 2     87.80%
76   SPECIALIZED FINANCE    1     43.68%
77   INDUSTRIAL REITS       2     86.72%
78   OIL & GAS-DRILLING     1     43.09%
79   MOVIES & ENTMT         1     40.95%
80   OIL & GAS-STORAGE      18    718.93%
81   REINSURANCE            1     38.66%
82   RETAIL REITS           11    417.96%
83   CONSTRUCTION MATRLS    2     74.13%
84   ADVERTISING            1     34.85%
85   RESIDENTIAL REITS      5     168.67%
                            300
o overweight industries based exclusively on the table below, especially if there is a statistically insignificant number of members in that
 es not take into consideration. Before overweighting a specific industry, one should make certain that there is a favorable reward-to-risk ratio in
y if one feels oil prices will drop sharply. If Homebuilders are scoring high, one may decide to avoid that industry if inventory levels and/or interest
 rest rates, etc ... Along similar lines, litigation risk and/or pending approvals may temper enthusiasm about certain Healthcare stocks. Uncertain
ted for in evaluating foreign stocks, as must currency movement risks. Each industry has characteristics of its own and we try to avoid comparing
  100 industries in the stock market, so imbalances may remain.


                     Average
                      73.23%
                      69.25%
                      66.66%
                      65.68%                                                  This table shows how the 85 industries scored
                                                                                     in this report covering 300 stocks.
                      65.05%
                                                                             Column D shows the number of representatives
                      64.74%                                              (members) the respective industry has in the report.
                      64.72%                                               The percentage figures in Column F are the average
                                                                               scores per stock in the respective industry.
                      64.23%
                      63.86%
                      62.25%
                      62.11%
                      61.55%
                      61.02%
                      60.94%
                      60.63%
                      60.59%
                      60.27%
                      58.67%
                      58.35%
                      58.25%
                      58.20%
                      57.58%
                      57.57%
                      56.97%
                      56.84%
                      56.79%
                      56.72%
                      56.41%
                      56.24%
56.14%
56.13%
55.93%
55.77%
55.72%
55.53%
55.38%
55.32%
55.06%
54.97%
54.50%
54.30%
54.10%
53.95%
53.85%
53.71%
53.24%
52.61%
52.40%
52.30%
51.89%
51.81%
51.78%
51.70%
51.54%
51.27%
50.73%
50.52%
50.41%
50.39%
50.14%
50.05%
49.97%
49.10%
48.71%
48.35%
47.80%
47.67%
47.63%
47.21%
46.96%
46.58%
45.86%
45.16%
44.82%
43.90%
43.68%
43.36%
43.09%
40.95%
39.94%
38.66%
38.00%
37.06%
34.85%
33.73%
    risk ratio in
s and/or interest
 cks. Uncertain
 oid comparing
                                                  Decile
                                                 1 / Top
                                                     2
                                                     3
                                                     4
                                                     5
                                                     6
                                                     7
                                                     8
                                                     9
                                               10 / Bottom

RANK on total score, TICKER, STOCK, INDUSTRY, SECTOR, CODE rank on market cap (not factored in scoring)

1                     RETURN ON EQUITY (roe)
                        After tax profits earned for all the shareholders expressed as a percentage. The return on equity percentage is calculated b
                        Latest 4 Quarters EPS / {[(Latest Quarterly Common Equity from the Balance Sheet + Common Equity




RETURN ON EQUITY 5-YEAR AVERAGE
RETURN ON EQUITY RELATIVE TO 5-YEAR AVERAGE

2                     RETURN PRE-TAX ON ASSETS (roa)
                        The measure of profit in dollars generated by a company’s assets expressed as a percentage.
                        (Latest 4 Quarters EPS / Tax Rate Complement) / [Average of (the Latest Quarterly Total Assets + Total Assets



RETURN ON ASSETS 5-YEAR AVERAGE
RETURN ON ASSETS RELATIVE TO 5-YEAR AVERAGE

3                     RETURN ON CAPITAL (roc)
                         The measure of profit in dollars generated by a firm’s total invested capital (Total Stockholder’s Equity + LT Debt).
                         Latest 4 Quarters EPS / {[(Latest Quarterly Long Term Debt + Latest Quarterly Stockholder’s Equity + 4 Quarters ago Stockhold



RETURN ON CAPITAL 5-YEAR AVERAGE
RETURN ON CAPITAL RELATIVE TO 5-YEAR AVERAGE

4                     EBITDA (ebitda)
EBITDA MARGIN
                        Measure of operating profits expressed as a percent.
                        [(Latest 4 Quarters EPS / Tax Rate Complement) + ((Latest 4 Quarters Income Statement Interest + Annual Cash Flow Depreciatio
                        and Amortization) / Shares Outstanding)] / (Latest 4 Quarters Revenue / Shares Outstanding)


EBITDA PER SHARE
                                         Company’s operating profit prior to paying interest and taxes
(Latest 4 Quarters EPS / Tax Rate Complement) + [(Latest 4 Quarters Interest Expense + Annual Depreciation and Amortization) /
Current Shares Outstanding
EBITDA 5-YEAR AVERAGE
EBITDA RELATIVE TO 5-YEAR AVERAGE

5                     NET PROFIT MARGIN (npm)
                        Measure of how much a company retains for each dollar of sales after operating expenses.
                         Measure of how much a company retains for each dollar of sales after operating expenses.
                         Net profit margin equals net income before extraordinary gains or losses as a percentage of sales or revenues.
                         Latest 4 Quarters EPS / (Latest 4 Quarters Revenue / Shares Outstanding)


NET PROFIT MARGIN 5-YEAR AVERAGE
NET PROFIT MARGIN RELATIVE TO 5-YEAR AVERAGE

6                     ACCOUNTING IRREGULARITIES & EARNINGS PURITY % (acct)
                         This figure allows the user to see how often a company has relied on write
                         Note: This variable is overweighted in this model. A low (red) score in this, in effect translates into an artificially deflated
                         1- [Absolute Value (Sum of Write-Offs for the Trailing 12 Quarters of Reported Fiscal Earnings)] / Sum of Operating Earnings for
                         Trailing 12 Quarters of Reported Fiscal Earnings


3-YEARS W/O                                                      Number of Write-Offs in the past 12 quarters.
# QUARTERS W/O %                                                 Write-Offs displayed as a % of earnings for the past three years.
EARNINGS DIFFERENTIAL                                            Measures the amount that the operating earnings are overstated (understated) versus wh
                                                                 has been reported in SEC filings over the last 12 quarters.

7                     EARNINGS MOMENTUM VALUE (eps m)
                         How well a stock’s earnings compare with those stocks in the S&P-500. If a stock is in the top decile, it is outperforming more
                         weighted (.1 X 5, .2 & .3) periods are used, with the most recent quarter receiving a .3 weight.



8                     REVENUE GROWTH (rev gr)

REVENUE % CHANGE 2007 VS 2006, REVENUE % CHANGE 2008 VS 2007
REVENUE % CHANGE 2009 VS 2008, REVENUE % CHANGE 2010 VS 2009
REVENUE # OF POSITIVE GROWTH QUARTERS, REVENUE 3-YEAR HISTORICAL GROWTH RATE
REVENUE 5-YEAR HISTORICAL GROWTH RATE, REVENUE 10-YEAR HISTORICAL GROWTH RATE

9                     EARNINGS PER SHARE GROWTH (eps gr)

EARNINGS # OF POSITIVE GROWTH QUARTERS
The number of quarters with sequential increases in earnings

EARNINGS 3-YEAR HISTORICAL GROWTH RATE
The slope of the Least Squares Regression Line which is fitted to the data. The data is expressed in terms of a 4 Quarter Moving Average.

EARNINGS 5-YEAR HISTORICAL GROWTH RATE, EARNINGS 10-YEAR HISTORICAL GROWTH RATE
EARNINGS STABILITY R-SQUARED
                       Measures the deviation of a company’s earnings from its historical growth rate
R2, where R = [n(SXY)-(SX)(SY)] / the square root of [(nSX2-(SX)2)(nSY2-(SY)2)]
& N=number of time periods used (20); Y=4 Quarter Moving Average starting 23 quarters ago; X=the corresponding time period; S=Sum of …

EARNINGS LONG-TERM FUTURE GROWTH RATE
Long Term Secular Growth Rate estimated for a period of three to five years, from First Call contributing analyst estimates

10                    BETA VS SPX (beta)
                        Measures volatility of a stock’s price relative to the S&P-500 using weekly prices over a
                        low beta is looked upon favorably, and high beta is penalized.


11                    % OF LONG-TERM DEBT TO CAPITAL (debt)
                      Long Term Debt / (Long Term Debt + Stockholders Equity)

12                    STABILITY & GROWTH (stab gr)
EARNINGS LATEST 4 QUARTERS VERSUS PRIOR 4 QUARTERS, EARNINGS CURRENT FISCAL YEAR VERSUS PRIOR YEAR,
EARNINGS NEXT YEAR VERSUS CURRENT YEAR
EARNINGS % CHANGE 2007 VS 2006, EARNINGS % CHANGE 2008 VS 2007
EARNINGS % CHANGE 2009 VS 2008, EARNINGS % CHANGE 2010 VS 2009

13                    DIVIDEND & REINVESTMENT YIELD (div I)

DIVIDEND YIELD LATEST 12 MONTHS, DIVIDEND LATEST 12 MONTHS
DIVIDEND PAYOUT RATIO
The percentage of earnings paid out in dividends including year end extra dividends. Special dividends are excluded from the calculation.
Sum of the latest 4 Qtrs. Dividends / Sum of the latest 4 Qtrs. Earnings

DIVIDEND 5-YEAR GROWTH
The slope of the Least Squares Regression Line which is fitted to the data. The data is expressed in terms of a 4 Quarter Moving Average.
Note: This same method is used to calculate the Earnings & Revenue 5-year Growth Rates. Extraordinary Dividends are excluded.
DIVIDEND LONG-TERM FUTURE GROWTH RATE, DIVIDEND INCREASE LATEST 5 YEARS
NOTE: ADDITIONAL VARIABLES WEIGHTED IN COLUMN 22

14                    PRICE TO BOOK RATIO (pbk)
                      Current Price / Most recent Book Value Per Share

PRICE TO BOOK RATIO 5-YEAR AVERAGE
Average Price for each of the past five calendar years / Corresponding Fiscal Year Book Value
PRICE TO BOOK RATIO RELATIVE TO 5-YEAR AVERAGE
                      Price to Book / Price to Book 5-Year Average
BOOK VALUE PER SHARE
                                            Worth of a company if it were liquidated
                                                                 Latest Common Equity / Shares Outstanding

15                    PRICE DEVIATION (base)
                         Markets tend to over-react to good news and bad news. This variable can identify such cases, by highlighting the deviation in s
                         the respective stock. A strong (green) reading, identifies stocks that are temporarily out of favor and undervalued. A weak
                         not supported by fundamentals and valuation.




STANDARD DEVIATION PRICE VERSUS VALUATION
Represents the deviation between the current price and the median price premium over all the years of data available for each stock.

16                    PRICE RELATIVE TO MOVING AVERAGES (rel to ma)

PRICE RELATIVE TO 200-DAY MOVING AVERAGE, PRICE RELATIVE TO 50-DAY MOVING AVERAGE
PRICE RELATIVE TO 30-DAY MOVING AVERAGE, 50-DAY MA RELATIVE TO 200-DAY MA

17                    NET INSIDER BUYS (inside)

                          For the past three months, the net change of number of transactions of insider trading. Note: If there was one $15,000 buy a
                          deceiving because there was actually net buying in dollar terms. This does not get significant weight in the model. If a ve
                          a footnote will be added to the report if necessary. Number of Buys



18                    PREDICTABILITY VERSUS VOLATILITY (safe)
                          Result from a computerized scoring system and a qualitative evaluation of the growth and stability of a company’s earnings an



19                     PRICE TO CASH FLOW
Current Price / Most recent Cash Flow for the last 4 Quarters EPS
                                           Where CF = Net Income plus Depreciation & Amortization

CASH FLOW TO EARNINGS RATIO
                  Cash Flow / Latest Fiscal Year Earnings

CASH FLOW PER SHARE
                                           Net Income + Depreciation & Amortization

20                    RELATIVE PRICE TO CASH FLOW

PRICE TO CASH FLOW 5-YEAR AVERAGE, PRICE TO CASH FLOW RELATIVE TO 5-YEAR AVERAGE

21                    PRICE TO FREE CASH FLOW
                         Current Price / [(Cash from Operations minus Fixed Asset Expense minus Dividends Paid) / Shares Outstanding] Where FAE = Cap


FREE CASH FLOW PER SHARE
Amount of disposable cash available to a firm after it has met its discretionary expenditures
                       For Banking & Insurance:
(Latest Annual Cash from Operations – Latest Annual Fixed Asset Expense – Latest Annual Dividends Paid) / Current Shares Outstanding
For Industrials:
(Latest Annual Cash from Operations – Latest Annual Capital Expenditure – Latest Annual Dividends Paid) / Current Shares Outstanding

22                    DIVIDEND YIELD (div II)
                      For regular dividend paying companies:
Latest Quarter Dividend X 4 / Current Price

DIVIDEND YIELD 5-YEAR AVERAGE
For each of the last 20 quarters, take the Dividend and divide it by the Average High and Low price. Take the average of those 20 figures.

DIVIDEND YIELD 10-YEAR AVERAGE
DIVIDEND YIELD TO 5-YEAR AVERAGE
                    Current Dividend Yield relative to 5-year average Dividend Yield
                    Dividend Yield / 5-Year average Dividend Yield

DIVIDEND YIELD TO 10-YEAR AVERAGE, DIVIDEND INDIVIDUAL RATE
NOTE: ADDITIONAL VARIABLES WEIGHTED IN COLUMN 13

23                    RELATIVE STRENGTH NUMBER (rel str)
                        Compares absolute and relative change in stock price versus the the market over the past 4 quarters. Most recent 3



AVERAGE DAILY VOLUME SINCE JANUARY 1
AVERAGE DAILY VOLUME LAST 30 DAYS, AVERAGE DAILY VOLUME LAST 12 MONTHS

24                    PRICE MOMENTUM VALUE (pr mom)

52-WEEK HIGH, 52-WEEK LOW, 5-YEAR HIGH, 5-YEAR LOW

25                      PRICE TO SALES (ps)
Current Price / [Latest 4 Quarters Revenues / (Current Shares Outstanding / 1,000,000)]

PRICE TO SALES RATIO LATEST 4 QUARTERS, PRICE TO SALES RATIO FORWARD 4 QUARTERS
PRICE TO SALES RATIO CURRENT YEAR, PRICE TO SALES RATIO NEXT YEAR
PRICE TO SALES RATIO 2007, PRICE TO SALES RATIO 2008, PRICE TO SALES RATIO 2009
26                     RELATIVE PRICE TO SALES (rel ps)

PRICE TO SALES RATIO 5-YEAR AVERAGE
PRICE TO SALES RATIO RELATIVE TO 5-YEAR AVERAGE

27                     OFF 52-WEEK HIGH / LOW (off hi / lo)

PRICE PER SHARE, % BELOW 52-WEEK HIGH
                         What is done by the model with this figure, and other technical indicators is proprietary. What can be revealed, is that (fo
                         “poor” scores on valuation, fundamentals and balance sheet. In effect, this creates a contrarian element. Conversely, the m
                         fundamentals and balance sheet (aka “good” companies temporarily out of favor).



% ABOVE 52-WEEK LOW

28                     EARNINGS PREDICTABILITY (pred)

REVISIONS CURRENT YEAR % CHANGE 3-MONTHS
(Current Consensus – Consensus from three months ago) / Absolute Value (consensus from three months ago)

REVISIONS CURRENT YEAR % CHANGE 6-MONTHS, REVISIONS NEXT YEAR % CHANGE 3-MONTHS, REVISIONS NEXT YEAR % CHANGE 6-MONTHS,
CURRENT YEAR HIGHEST EST, CURRENT YEAR LOWEST EST, CURRENT YEAR # OF UP REVISIONS 1- MONTH, CURRENT YEAR # OF DOWN REV 1- MONTH


EARNINGS ESTIMATES # ANALYSTS NEXT YEAR
                          In order for this variable to be given full weighting, the model requires a statistically significant sample of data size in
                          lower frequency of skewed results and deviations between a company’s earnings and estimates will be less volatile as the cove



NEXT YEAR HIGHEST ESTIMATE, NEXT YEAR LOWEST ESTIMATE, NEXT YEAR # OF
UPWARD REVISIONS 30 DAYS, NEXT YEAR # OF DOWNWARD REVISIONS 30 DAYS

29                      P/E RELATIVE TO SPX (pertix)
                        Price to Earnings ratio relative to the S&P-500
Price to Earnings ratio of the most recent 4 quarters / P/E for the S&P-500 for the most recent 4 quarters
P/E 2009 RELATIVE TO SPX, P/E 2008 RELATIVE TO SPX
P/E 5-YEAR TO SPX HIGH, P/E 5-YEAR TO SPX LOW

30                     P/E RELATIVE TO ITS HISTORICAL TRADING RANGE (perhis)

P/E 5-YEAR AVERAGE HIGH, P/E 5-YEAR AVERAGE LOW, P/E 5-YEAR AVERAGE

                         For each of the most recent 20 quarters, including the present quarter, take the average of the high and low price and divide
                         quarter being looked at. Average these 20 figures to obtain the 5-year average.


P/E TO 5-YEAR AVERAGE, P/E 10-YEAR AVERAGE, P/E TO 10-YEAR AVERAGE

31                     PRICE TO EARNINGS RATIO (blend)

P/E LATEST 4 QUARTERS TRAILING EARNINGS
Price to Earnings ratio of the most recent 4 quarters
Current Price / Sum of Latest 4 Quarters Earnings

P/E 2009
P/E 2010
Price to Estimated Earnings ratio for Fiscal 2010
                                             Current Price / Sum of Quarterly Earnings Estimates for Fiscal 2010
P/E 2011

32                     P/E/G RATIO (peg)

2009 P/E/G
20010 P/E/G
                      2010 Price to Earnings ratio to Long-Term Future Growth Rate
P/E based upon 2010 Estimated EPS / Earnings Long-Term Future Growth Rate.
Must be a prospective P/E (not trailing) Example: 2010 P/E = 18, LTGR = 12%, then P/E/G = 1.5
2010 P/E/G

see important notes on next page
To the immediate right of the the 32 groups on the color-coded scoring table (columns numbered 1 through 32),
you will see six columns headed with Roman numerals. Below is the explanation for those columns.

I                      POINT DEDUCTIONS (deducts)

                        Total point deductions for the 32 groups. The highest scoring stocks in the report will have the lowest number in this column. You sho
                        start at dark green and change at every decile before reaching the bottom (red) of the page.


II                     VALUATION SCORE (valu)
                         Total point deductions on the valuation groups, variables (and ratios). Stocks with the lowest number [point deductions] in



III                    FUNDAMENTALS SCORE (fund)
                          Total point deductions on the fundamental groups, variables (and ratios). Stocks with the lowest number [point deductions] i



IV                     PROPRIETARY SCORE (prop)
                         Total point deductions on the proprietary groups, variables (and ratios). Stocks with the lowest number [point deductions] i


V                      MISCELLANEOUS (misc)
                          Total point deductions on the miscellaneous variables. There were some variables that do not fit in the other four [valuatio
                          deductions] in this column, scored highest in this group, and vice versa.



VI                     TECHNICALS (techs)

                         Total point deductions on the technical indicators and variables. Stocks with the lowest number [point deductions] in this c
                         group is looked upon favorably. Markets tend to over-react to good news and bad, and at the extremes strong and weak technicals
                         and fundamentals. What is done by the model with this figure, and other technical indicators is proprietary. What can be re
                         technicals combined with “poor” scores on valuation, fundamentals and balance sheet items. In effect, this creates a contrar
                         “high” scores on valuation, fundamentals and balance sheet items, also known as “good” companies temporarily out of favor, wi




VII                    TOTAL SCORE (total score)
                          This is the total score based on the figures in columns II through VI expressed in percentage terms. I would usually focus m
                          ideas, and the bottom decile (10% highlighted in red) for short sell (liquidation) ideas. It should be noted, that the score
Miscellaneous

EARNINGS LATEST 4 QUARTERS, EARNINGS 2009
EARNINGS ESTIMATE 2010
First Call Consensus of all individual broker estimates.
EARNINGS ESTIMATE 2010, EARNINGS ESTIMATE 2011
LATEST EARNINGS SURPRISE %
[Reported EPS minus Consensus] / Consensus
PRICE IMPACT EARNINGS SURPRISE
The change in price vs. the S&P-500 from two days before to one day after the date of the Earnings Report.

NEXT EXPECTED EPS DATE
MARKET CAPITALIZATION
                   Current Price X Shares Outstanding

# SHARES OUTSTANDING
                           Total number of shares outstanding, including all classes of common stock. Excludes preferred stock, warrants and options.
                           Foreign shares outstanding reflect the number of ADR’s.


INSTITUTIONAL HOLDINGS %
                   Percent of stock owned by major institutional investors

AVERAGE YEARLY PERCENT CHANGE 5 YEARS, AVERAGE YEARLY PERCENT CHANGE 10 YEARS,
REVENUE LATEST 4 QUARTERS, REVENUE PER SHARE LATEST 4 QUARTERS
REVENUE 2009, REVENUE ESTIMATE 2010, REVENUE ESTIMATE 2011

REINVESTMENT YIELD
Amount available to be plowed back into a company expressed as a % of price
(Earnings for thr Latest 4 Quarters minus Dividends for the Latest 4 Quarters) / Current Price

ENTERPRISE VALUE TO EBITDA RATIO
                   Multiple of private market value to core operating earnings
                         (Current Price + [(Quarterly Balance Sheet Long Term Debt + Quarterly Balance Sheet Short Term Debt + Quarterly Balance Sheet
                         Term Investments) / Shares Outstanding)] / ((Latest 4 Quarters EPS / Tax Rate Complement) + ((Latest 4 Quarters Interest Expe



ENTERPRISE VALUE PER SHARE
                         Theoretical takeover price of a company. This is a better measure of a company’s value (as a takeover target) than market ca
                         and cash equivalents the acquiring party expects to receive.
                         Current Price + [(Quarterly Balance Sheet Long Term Debt + Quarterly Balance Sheet Short Term Debt + Quarterly Balance Sheet
                         Sheet Short Term Investments) / Shares Outstanding]
                                               Color Code                                         Shade
                                                                                                  Green
                                                                                                Sea Gren
                                                                                                   Lime
                                                                                              Bright Green
                           the number inserted in each cell on the color-coded                 Light Green
                             scoring summary, is the rank for the respective                        Tan
                                           stock and variable                                      Gold
                                                                                              Light Orange
                                                                                                 Orange
                                                                                                   Red

arket cap (not factored in scoring)



essed as a percentage. The return on equity percentage is calculated by dividing the company’s net income by the total shareholders equity.
n Equity from the Balance Sheet + Common Equity 4 Quarters ago from the Balance Sheet) / 2] / Shares Outstanding}




mpany’s assets expressed as a percentage.
 Average of (the Latest Quarterly Total Assets + Total Assets 4 Quarters ago) / Shares Outstanding]




m’s total invested capital (Total Stockholder’s Equity + LT Debt).
 erm Debt + Latest Quarterly Stockholder’s Equity + 4 Quarters ago Stockholder’s Equity) / 2] / Shares Outstanding}




 ((Latest 4 Quarters Income Statement Interest + Annual Cash Flow Depreciation
4 Quarters Revenue / Shares Outstanding)




or to paying interest and taxes
 st Expense + Annual Depreciation and Amortization) /




 dollar of sales after operating expenses.
dollar of sales after operating expenses.
dinary gains or losses as a percentage of sales or revenues.
 e / Shares Outstanding)




 any has relied on write-offs to compensate for low or negative earnings.
A low (red) score in this, in effect translates into an artificially deflated P/E/G ratio.
ng 12 Quarters of Reported Fiscal Earnings)] / Sum of Operating Earnings for the



 Write-Offs in the past 12 quarters.
 displayed as a % of earnings for the past three years.
the amount that the operating earnings are overstated (understated) versus what
eported in SEC filings over the last 12 quarters.



ocks in the S&P-500. If a stock is in the top decile, it is outperforming more than 90% of the companies in the report. A method of seven rolling 4 quarter forward
 most recent quarter receiving a .3 weight.




AL GROWTH RATE
CAL GROWTH RATE




The data is expressed in terms of a 4 Quarter Moving Average.

RICAL GROWTH RATE

m its historical growth rate

ng 23 quarters ago; X=the corresponding time period; S=Sum of …



rs, from First Call contributing analyst estimates



          using weekly prices over a 5-year period. A minimum of 52 weeks of data is required (if five years is not available). In this risk averse biased model,
URRENT FISCAL YEAR VERSUS PRIOR YEAR,




dividends. Special dividends are excluded from the calculation.




 The data is expressed in terms of a 4 Quarter Moving Average.
 r Growth Rates. Extraordinary Dividends are excluded.




al Year Book Value




mmon Equity / Shares Outstanding



news. This variable can identify such cases, by highlighting the deviation in stock price from the stock’s median price premium over all the years data available for
 ntifies stocks that are temporarily out of favor and undervalued. A weak (red) reading would point at possible instances of speculation and upwards price movement




premium over all the years of data available for each stock.




AY MOVING AVERAGE




 ber of transactions of insider trading. Note: If there was one $15,000 buy and ten - $1000 sells, then this would register here as a “negative”. This can be
 n dollar terms. This does not get significant weight in the model. If a very strong or weak signal is received on this variable, files will be manually checked and
 . Number of Buys - Number of Sells.




 qualitative evaluation of the growth and stability of a company’s earnings and dividends over a ten-year period.
preciation & Amortization




O 5-YEAR AVERAGE



d Asset Expense minus Dividends Paid) / Shares Outstanding] Where FAE = Capital Expenditure minus Sale of Property, Plant & Equipment (PP&E)




ary expenditures

– Latest Annual Dividends Paid) / Current Shares Outstanding

 Latest Annual Dividends Paid) / Current Shares Outstanding




 age High and Low price. Take the average of those 20 figures.




ce versus the the market over the past 4 quarters. Most recent 3-month period gets double (40%) weight.




ARD 4 QUARTERS
er technical indicators is proprietary. What can be revealed, is that (for short recommendations) the model tries to identify stocks with “good” technicals combined with
 ce sheet. In effect, this creates a contrarian element. Conversely, the model tries to identify stocks with “poor” technicals combined with “high” scores on valuation,
anies temporarily out of favor).




(consensus from three months ago)

E 3-MONTHS, REVISIONS NEXT YEAR % CHANGE 6-MONTHS,
 REVISIONS 1- MONTH, CURRENT YEAR # OF DOWN REV 1- MONTH




the model requires a statistically significant sample of data size in order to draw a conclusion, usually three or four estimates. The assumption is that their will be a
between a company’s earnings and estimates will be less volatile as the coverage increases.




for the most recent 4 quarters




he present quarter, take the average of the high and low price and divide it by the sum of the trailing 4 quarter earnings at that time; the 4 quarters previous to the price
o obtain the 5-year average.
y Earnings Estimates for Fiscal 2010




%, then P/E/G = 1.5




ble (columns numbered 1 through 32),
nation for those columns.




st scoring stocks in the report will have the lowest number in this column. You should see the number increase as you scroll down the page, and the color code will
e reaching the bottom (red) of the page.




ables (and ratios). Stocks with the lowest number [point deductions] in this column, have the most attractive valuation, and vice versa.




 variables (and ratios). Stocks with the lowest number [point deductions] in this column, have the strongest fundamentals, and vice versa.




ariables (and ratios). Stocks with the lowest number [point deductions] in this column, scored highest on proprietary issues and vice versa.




bles. There were some variables that do not fit in the other four [valuation, fundamentals, proprietary, technicals] categories. Stocks with the lowest number [point
 roup, and vice versa.




 nd variables. Stocks with the lowest number [point deductions] in this column, have the “strongest technicals”, and vice versa. Do not assume, that a high score in this
     react to good news and bad, and at the extremes strong and weak technicals scores can be contrarian indicators especially if they conflict with scores on valuation
h this figure, and other technical indicators is proprietary. What can be revealed, is that (for short recommendations) the model tries to identify stocks with “good”
 n, fundamentals and balance sheet items. In effect, this creates a contrarian element. Conversely, the model tries to identify stocks with “poor” technicals combined with
nce sheet items, also known as “good” companies temporarily out of favor, with significant upside potential.




mns II through VI expressed in percentage terms. I would usually focus my attention on the top decile (10% highlighted in dark green) for long (accumulate)
 d) for short sell (liquidation) ideas. It should be noted, that the scores in columns II through VI are not equally weighted in the final ranking (total score).
the date of the Earnings Report.




classes of common stock. Excludes preferred stock, warrants and options.




CHANGE 10 YEARS,




rs) / Current Price




 rm Debt + Quarterly Balance Sheet Short Term Debt + Quarterly Balance Sheet Preferred Equity – Quarterly Balance Sheet Cash – Quarterly Balance Sheet Short
t 4 Quarters EPS / Tax Rate Complement) + ((Latest 4 Quarters Interest Expense + Annual Depreciation and Amortization) / Current Shares Outstanding))




better measure of a company’s value (as a takeover target) than market capitalization. It takes into account the debt the acquiring party has to assume minus the cash

rm Debt + Quarterly Balance Sheet Short Term Debt + Quarterly Balance Sheet Preferred Equity – Quarterly Balance Sheet Cash & Equivalents – Quarterly Balance
en rolling 4 quarter forward




sk averse biased model,
 l the years data available for
n and upwards price movement




gative”. This can be
be manually checked and
uipment (PP&E)
“good” technicals combined with
with “high” scores on valuation,




sumption is that their will be a




 e 4 quarters previous to the price
e page, and the color code will




with the lowest number [point




 t assume, that a high score in this
  conflict with scores on valuation
o identify stocks with “good”
with “poor” technicals combined with




 for long (accumulate)
nking (total score).
Quarterly Balance Sheet Short
Shares Outstanding))




rty has to assume minus the cash

             Quarterly Balance

				
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