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WATCH LIST UPDATE - ADDS and DELETES

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WATCH LIST UPDATE - two issues removed and one (1) issue added

The following issues have moved into the area that has alerted us to place
them on our WATCH LIST.

EPEX - Oil prices dropping to under $63 still has weakness spillingr into the general energy sector ,EPEX still holding its own closing slightly above $30. The issue will of course remain on our WATDCH LIST. We are looking to hold support at this $30 level If we can not support this critical area, we may be forced to close out the current
position. CONTINUE TO WATCH very carefully.

GRA - Also even after yesterday's after hours run up to over $13.00, the stock readjusted in normal day trading and closed at $11. GRA's initial break below $12 put this issue on our WATCH list and it still remains there. With GRA currently trading at $11.00 will be looking for support between the $11 - $11.50 area. Further weakness could cause us to be alerted to potentially exiting this position on any major close below the $11 area. WATCH CAREFULLY


DPTR -
Recent drop below the $22 level, has caused us to place DTR on our WATCH list
We are looking for any leveling in oil prices to stablize this issue. We will be watching this issue accordingly, and if we need to act we will keep you advised. We are looking for support at the $21.-$21. 50 level.

OVTI - (REMOVED FROM WATCH LIST) The stocks action today moved the stop off of the WATCH LIST with a close of $25.95, well over our WATCH LIST price of $24.50. With OVTI currently (trading at $25.95, OVTI is being taken off the WATCH LIST.
However if the stock should return to close under the $24.50 price, we will again place it on the WATCH LIST.

VRX - (REMOVED FROM THE WATCH LIST) With the stock closing above $17, VRX is being removed from our WATCH LIST. However if the stock should close below $17, we will again place it on our WATCH LIST .

Currently EPEX is the one that we are considering possibly exiting at this time , if EPEX's weakness conitnues. The easing of energy prices may continue to put pressure on this issue and may cause us to potentially liquidate this position. We will keep you advised.


THE WATCH LIST CURRENTLY INCLUDES THE FOLLOWING ISSUES AS of the close of FEBRUARY 8, 2006

EPEX
GRA
DPTR - newly added

RECENTLY DELETED FROM WATCH LIST on FEBRUARY 8, 2006:

VRX
OVTI

We will keep you advise of any changes. In addition these issues will stay on the watch list until these issues close above their pre-WATCH list prices or until we have to liquidate any of the positions

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