The Deen's ListTM
A service of Deen Capital Management, Inc. (www.deencapital.com)
Vol.2 #284	Monday, December 6, 2004	4:07PM ET

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

  Contents

Year-To-Date Performance
Sold Navarre Corp. (NAVR)
Open Positions
Subscription Information
Privacy Policy
Disclaimers

  Year-To-Date Performance

* 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 Navarre Corp. (NAVR)

Net sell price in managed accounts*	$15.69
Date(s) bought	Nov 12 2004
Net buy price in managed accounts*	$16.26
Holding period	3.4 weeks
Gain/loss in managed accounts	-3.5% (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.

I sold NAVR today in the final half-hour of the regular trading session because it was trading below my "hard stop-loss" price of $16.16. It appeared very likely to close below that mark, and a close below that mark would be a sell signal.

File this under "Keep Losses Small".

-KD, December 6, 2004

  Open Positions

Company Name	Stock Symbol	Buy Date	NetBuy Price*	Current Price**	Weeks Held	Gain (Loss)
China Yuchai Int'l Ltd.	CYD	12/02/04	$17.51	$17.56	0.6	+0.3%
DHB Industries Inc.	DHB	12/01/04	$18.60	$18.69	0.7	+0.5%
Accredited Home Lenders	LEND	11/30/04	$42.93	$46.31	0.9	+7.9%
United Therapeutics Corp.	UTHR	11/29/04	$43.54	$43.99	1.0	+1.0%
Sify Ltd. ADR	SIFY	11/24/04	$6.88	$6.85	1.7	-0.5%
Excel Maritime Carriers	EXM	11/23/04	$27.91	$38.95	1.9	+39.6%
Bluegreen Corp.	BXG	11/23/04	$14.64	$17.36	1.9	+18.6%
Innovative Solutions	ISSC	11/18/04	$29.02	$31.90	2.6	+9.9%
Infocrossing Inc.	IFOX	11/17/04	$15.05	$17.04	2.7	+13.2%
NCI Building Systems Inc.	NCS	11/16/04	$34.72	$38.89	2.9	+12.0%
Rofin-Sinar Tech Inc.	RSTI	11/10/04	$37.22	$39.80	3.7	+6.9%
NETGEAR, Inc.	NTGR	11/03/04	$13.68	$17.79	4.7	+30.0%
Nanometrics Inc.	NANO	11/02/04	$14.71	$17.46	4.9	+18.7%
Monarch Casino & Resort	MCRI	10/27/04	$27.11	$34.46	5.7	+27.1%
Sigmatel Inc.	SGTL	10/21/04	$28.28	$36.20	6.6	+28.0%
M.D.C. Holdings Inc.	MDC	10/12/04	$72.28	$78.17	7.9	+8.1%
Charles River Assoc Inc.	CRAI	09/30/04	$38.19	$44.74	9.6	+17.2%
Digital River Inc.	DRIV	09/13/04	$27.42	$42.83	12.0	+56.2%
Average					4.0	+16.4%

* 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.

  Privacy Policy

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

Copyright © 2004 Deen Capital Management, Inc.