ETF Trading Letter Closing Trades

THE E T F TRADING LETTER

The Exchange Trading Funds Trading Letter

HOW HAVE WE DONE SO FAR SINCE INCEPTION?

"Our Trailing Price Floor Strategy cuts losses while letting winners run."

Includes all trading recommendations made.

RADIO FEATURE MECHANICAL ETF TRADING TEST PORTFOLIO "A"

SECURITY/SYMBOL	Price Paid	Highest Closing Price	Price	Net Return
BROADBAN HOLDERS (BDH)	18.75	20.74	21.23	+0.00
B2B INTERNET HOLDERS (BHH)	2.45	3.08	3.02	+23.26
BRAZIL INDEX (EWZ)	32.45	42.90	42.40	+30.66
INTERNET INTRASTRC (IIH)	3.85	5.02	5.02	+30.38
LATIN AMERICAN 40 INDEX (ILF)	117.95	146.86	145.88	+23.68
DOW JONES TRANSPORT (IYT)	70.90	84.94	84.94	+19.80
OIL SERVICE HOLDERS (OIH)	120.63	155.12	153.26	+12.73

RADIO FEATURE MECHANICAL ETF TRADING TEST PORTFOLIO "B"

SECURITY/SYMBOL	Price Paid	Highest Closing Price	Price	Net Return
BIOTECH HOLDERS (BBH)	200.33	212.15	187.37	+1.50
HOLDRs INTERNET (HHH)	62.93	69.83	59.02	+5.54
NASDAQ BIOTECH INDEX (IBB)	74.24	83.92	79.70	+3.19
COHEN & STEERS REALTY (ICF)	70.61	87.23	83.61	+18.41
GOLDMAN SACHS NETWORKING INDEX (IGN)	30.81	37.17	37.17	+20.64
VANGUARD INFORMATION TECH (VGT)	47.40	51.99	51.87	+9.43
BASIC MATERIALS (XLB)	27.83	33.32	33.32	+19.72
FINANCIAL (XLF)	30.43	33.07	32.91	+8.14

Winning/Losing Cyclic Analysis Trades Since Inception

-- ETF Trading Letter Closing Trades--