The Deen's List Vol.2 #265

The Deen's List^TM

A service of Deen Capital Management, Inc. (www.deencapital.com)

Vol.2 #265 Tuesday, November 16, 2004 2:15PM ET

Please read carefully our disclaimers at the end of this newsletter.

Market Stance: BULLISH (since August 18, 2004)

Contents

Year-To-Date Performance
Sold MarketWatch Inc. (MKTW)
Open Positions
Subscription Information
Privacy Policy
Disclaimers

Year-To-Date Performance

Year-To-Date as of November 15, 2004
Deen Capital	+3.6%	*
S&P 500	+6.5%

* An average of managed accounts, net after commissions and fees. Individual account results may vary. See also www.deencapital.com/perform.htm. For information on managed accounts, see www.deencapital.com/mgdaccts.htm.

Sold MarketWatch Inc. (MKTW)

Net sell price in managed accounts* $17.89

Date(s) bought Oct 28 2004

Net buy price in managed accounts* $13.66

Holding period 2.7 weeks

Gain/loss in managed accounts +31.0% (after commissions)

* The net buy (sell) price is the total net cost (proceeds) after commissions for all managed accounts divided by the total number of shares.

Yesterday, news came out that MarketWatch is being acquired by Dow Jones & Co. That's good news for us, as the stock price popped, padding our already substantial short-term gain in MKTW.

However, going forward, I would expect MarketWatch stock to trade in parallel with Dow Jones stock. And Dow Jones does not meet my usual buy criteria. For example, revenues grew only 5% year-over-year in the most recent quarter ended Sep 30. Therefore, I'm selling.

-KD, November 16, 2004

Open Positions

Company Name Stock
Symbol Buy
Date NetBuy
Price* Current
Price** Weeks
Held Gain
(Loss)

Dawson Geophysical Co. DWSN 11/15/04 $23.64 $23.61 0.1 -0.1%

Navarre Corp. NAVR 11/12/04 $16.26 $17.59 0.6 +8.2%

Rofin-Sinar Tech Inc. RSTI 11/10/04 $37.22 $37.55 0.9 +0.9%

Ventiv Health Inc. VTIV 11/08/04 $19.25 $18.97 1.1 -1.5%

Littelfuse Inc. LFUS 11/08/04 $38.19 $39.27 1.1 +2.8%

NETGEAR, Inc. NTGR 11/03/04 $13.68 $15.65 1.9 +14.4%

Nanometrics Inc. NANO 11/02/04 $14.71 $16.59 2.0 +12.7%

MarketWatch Inc. MKTW 10/29/04 $13.33 $17.94 2.6 +34.6%

MicroStrategy Inc. MSTR 10/27/04 $63.30 $66.08 2.9 +4.4%

Monarch Casino & Resort MCRI 10/27/04 $27.11 $37.80 2.9 +39.4%

F5 Networks Inc. FFIV 10/27/04 $40.08 $43.86 2.9 +9.4%

LCA Vision Inc. LCAV 10/26/04 $27.58 $31.84 3.0 +15.4%

InfoSpace Inc. INSP 10/26/04 $53.99 $50.36 3.0 -6.7%

Sigmatel Inc. SGTL 10/21/04 $28.28 $30.33 3.7 +7.2%

Amedisys Inc. AMED 10/21/04 $31.28 $35.75 3.7 +14.3%

Diodes Inc. DIOD 10/19/04 $25.65 $27.57 4.0 +7.5%

M.D.C Holdings Inc. MDC 10/12/04 $72.28 $78.13 5.0 +8.1%

Charles River Assoc Inc. CRAI 09/30/04 $38.19 $40.95 6.7 +7.2%

Quiksilver Inc. ZQK 09/13/04 $25.73 $28.43 9.1 +10.5%

Digital River Inc. DRIV 09/13/04 $27.42 $39.20 9.1 +43.0%
Average 3.3 +11.6%

* Net buy prices shown are the total net purchase cost after commissions for all managed accounts divided by the total number of shares.

** Current prices are at least 20 minutes old.

Subscription Information

Welcome to The Deen's List^TM, an e-mail stock newsletter from Deen Capital Management, Inc.

My intention is to inform you as quickly as is practical regarding my stock market moves. When I buy or sell a stock, first I take care of client accounts, then I buy/sell for my personal account(s), and then, third, I send out this newsletter.

Your feedback is welcome. Send e-mail to deenslist@deencapital.com. To subscribe or unsubscribe, include the word "subscribe" or "unsubscribe" in the Subject line.

This newsletter is free to managed account clients. For a limited time, it is also free to all interested parties.

Your personal information, including your e-mail address, will be held in strict confidence by Deen Capital Management, Inc. We will not share it with or sell it to others.

Disclaimers

All stocks discussed in The Deen's List^TM involve a high degree of risk. It should not be assumed that any stock discussed in The Deen's List^TM or purchased by Deen Capital Management, Inc. will be profitable.

Past performance is not necessarily indicative of future results.

The information contained herein has been compiled from sources deemed to be reliable; however, we are not responsible for its accuracy or completeness.

Ken Deen
Deen Capital Management, Inc.
PO Box 30925
Santa Barbara, CA 93130
(805) 682-1870
deenslist@deencapital.com