System Z mid-Month 4: $9085.97; Differential falls to 10.77%

System Z has traded very heavily the last two weeks. Heavy losses were sustained in a position in NTAP, and there have been few profitable trades to offset this loss. The NASDAQ has now declined over 12% since the inception of trading, and the differential between the no-commissions return of system Z and the NASDAQ market has fallen to 10.77%, from its previous high of 13.15% July 7th.

System Z account value: $9085.97
commissions paid: $725
maximum commissions should be: $290
which means I overpaid at least: $435
minimum account value corrected for obscene commissions: $9520.97
account value if no commissions: $9810.97

System Z actual return since 4/7: -9.14%
System Z corrected return since 4/7: -4.79%
System Z no-commission return since 4/7: -1.89%

Nasdaq on 4/7: 2339.02
Nasdaq return since 4/7: -12.66%

Difference between no-commission return and NASDAQ return since 4/7: 10.77%

Refer to post from 4/19 for explanation of "corrected return". Returns for a larger fund would fall somewhere between the "corrected" return and the "no-commission" return.