System Z 2/8: $8867.48

One month in to 2007, System Z is facing the same problems it faced last year. Volatility remains lower than it's been at any time since the early 90's. Since market volatility leads to this programs opportunities, very little trading has occurred this year. Of those trades, few were ideal trades. In short, markets are still dominated by quantitative trading and there is very little emotional impact on markets. In this environment, System Z attempts only to keep pace with the market.

Jan 1, 2007-Feb 8, 2007 results:

System Z account value (2/8): $8867.48
commissions paid (1/1-2/8): $180
shares traded (1/1-2/8): 3,430
commission at $5 per thousand shares traded: $17.15
account value corrected for obscene commissions: $9030.33
account value if no commissions: $9047.48

System Z actual return (1/1-2/8): .63%
System Z corrected return (1/1-2/8): 1.19%
System Z no-commission return (1/1-2/8): 1.38%

NASDAQ return (1/1-2/8): 3.02%

2006:

System Z account value (end 2006): $8923.98
commissions paid: $1302.25
shares traded: 37,271
commission at $5 per thousand shares traded: $186
account value corrected for obscene commissions: $10040
account value if no commissions: $10226

System Z actual return since 4/7: -10.76%
System Z corrected return since 4/7: .4%
System Z no-commission return since 4/7: 2.26%

Nasdaq on 4/7: 2339.02
Nasdaq return from 4/7 to end of year: 3.25%