NFA_VL_ShortTrades

We can appoximate a short position by using inverse funds which move opposite (inverse) of their respective indexes.

Action	Quantity	EntryDate	EntryPrice	ExitDate	ExitPrice	%Gain	%DrawDown
short	67	1/4/2008	414.98	1/24/2008	398.93	3.9	3.3
short	64	12/14/2007	438.5	12/21/2007	447.82	-2.1	2.7
short	58	11/1/2007	465.54	11/28/2007	445.17	4.4	3.8
short	58	10/24/2007	471.03	10/31/2007	480.06	-1.9	2.3
short	50	7/18/2007	504.45	8/21/2007	459.32	8.9	3.1
short	52	7/10/2007	497.12	7/12/2007	507.23	-2	2
short	53	6/25/2007	490.02	7/2/2007	499.38	-1.9	2.2
short	66	7/21/2006	396.73	7/24/2006	405.16	-2.1	2.1
short	66	7/13/2006	404.6	7/19/2006	409.7	-1.3	2.5
short	63	6/6/2006	422.14	6/29/2006	421.22	0.2	4.5
short	57	5/11/2006	446.58	5/26/2006	431.06	3.5	2.3
short	56	4/19/2006	453.57	5/2/2006	450.56	0.7	0.2
short	65	10/26/2005	390.61	11/1/2005	393.77	-0.8	2.9
short	63	10/5/2005	398.6	10/24/2005	394.97	0.9	2.2
short	64	9/22/2005	401	9/29/2005	407.84	-1.7	1.7
short	71	5/13/2005	368.5	5/17/2005	375.36	-1.9	1.9
short	69	4/22/2005	371.05	4/29/2005	366.79	1.1	1
short	65	4/11/2005	383.73	4/21/2005	374.82	2.3	1.9
short	64	3/21/2005	389.65	4/6/2005	386.83	0.7	1.6
short	75	8/13/2004	332.98	8/16/2004	339	-1.8	1.8
short	62	4/26/2004	377.65	5/19/2004	349.17	7.5	1.5
short	64	4/20/2004	371.56	4/22/2004	380.85	-2.5	2.5
short	61	5/30/2002	353.82	6/28/2002	324.37	8.3	2.6
short	50	8/31/2001	368.69	9/28/2001	311.08	15.6	4.5
short	47	7/16/2001	385.55	7/27/2001	385.6	0	2.4
short	49	7/10/2001	381.09	7/12/2001	389.15	-2.1	2.5
short	47	11/20/2000	393.37	11/27/2000	393.18	0	2.1
short	39	9/15/2000	432.89	10/27/2000	395.28	8.7	3
short	42	7/26/2000	414.09	8/7/2000	421.24	-1.7	4.1
short	41	6/21/2000	415.49	6/28/2000	413.71	0.4	1.5
short	40	5/18/2000	417.98	5/30/2000	410.35	1.8	2.2
short	41	3/6/2000	404.05	3/15/2000	404.06	0	2
short	40	2/9/2000	411.54	3/3/2000	408.09	0.8	3.2
short	39	1/24/2000	419.53	2/2/2000	413.68	1.4	1.1
short	39	11/22/1999	426.53	12/31/1999	431.04	-1.1	4.6
short	39	10/12/1999	414.87	10/29/1999	414.63	0.1	3.9
short	36	9/14/1999	435.9	10/7/1999	418.45	4	1.7
short	37	8/30/1999	434.12	9/7/1999	439.62	-1.3	1.7
short	33	7/22/1999	461.77	8/17/1999	445.22	3.6	2.5
short	34	6/9/1999	455.72	6/17/1999	457.94	-0.5	1.7
short	38	3/22/1999	409.55	3/29/1999	414.05	-1.1	3.2
short	38	2/25/1999	407.47	3/4/1999	408.15	-0.2	0.8
short	35	1/28/1999	429.11	2/22/1999	414.86	3.3	2
short	36	12/11/1998	417.16	12/24/1998	423.49	-1.5	3.3
short	27	7/21/1998	475.9	9/8/1998	389.96	18.1	4.9
short	26	6/10/1998	477.11	6/23/1998	468.8	1.7	2.2
short	25	5/18/1998	490.74	6/5/1998	481.56	1.9	1.2
short	26	4/27/1998	487.57	4/30/1998	500.97	-2.7	2.7
short	28	1/8/1998	444.38	1/16/1998	443.48	0.2	2.7
short	27	12/10/1997	452.01	12/29/1997	445.11	1.5	1.3
short	28	11/25/1997	448.33	12/1/1997	455.7	-1.6	1.6
short	35	4/25/1997	365.35	4/29/1997	372.68	-2	2
short	32	3/19/1997	382.42	4/16/1997	369.96	3.3	1.8
short	33	7/5/1996	349.35	7/31/1996	332.14	4.9	2.6
short	32	6/13/1996	358.72	6/28/1996	354.28	1.2	1.2
short	34	10/19/1995	325.95	11/2/1995	322.14	1.2	2.1
short	35	10/9/1995	322.37	10/16/1995	325.85	-1.1	1.7
short	41	12/7/1994	270.81	12/15/1994	272	-0.4	2
short	38	11/4/1994	284.11	11/29/1994	274.24	3.5	1
short	38	10/24/1994	284.05	10/31/1994	288.17	-1.5	1.8
short	37	9/14/1994	291.33	10/11/1994	287.57	1.3	2.1
short	38	8/11/1994	283.5	8/17/1994	286.62	-1.1	1.1
short	40	7/11/1994	276.78	7/14/1994	280.99	-1.5	1.5
short	38	6/20/1994	281.91	7/7/1994	277.19	1.7	1.2
short	38	5/9/1994	280.23	5/17/1994	278.37	0.7	0.4
short	33	3/21/1994	302.62	4/22/1994	281.05	7.1	2.9
short	34	2/24/1994	296.83	3/16/1994	302.8	-2	2
short	35	11/18/1993	288.09	12/1/1993	288.34	-0.1	1.5
short	36	11/4/1993	286.84	11/12/1993	292.06	-1.8	1.8
short	37	6/15/1993	276.43	6/24/1993	274.21	0.8	0.3
short	40	9/28/1992	245.83	10/15/1992	241.31	1.8	1
short	41	8/24/1992	243.72	9/2/1992	248.2	-1.8	2.1

The No-Load Fund Advisor's Short Term

Broad Market Equity Short Trades