Portfolio, July 1 2012

S&P 500: 1362.0 (96.9%)

Portfolio: $505,912 (101.2%)

XBI      3560 shares    $180,921

XHB    7920 shares    $169,052

XLY      3560 shares    $155,857

Cash                            $82

Notes: The aggressive momentum portfolio of funds/ETFs is back over starting value, while the S&P 500 lags its May 1 benchmark value by a few percent.  Difference since inception (two months) is a 4.3% improvement over the S&P 500 return over the same time period.