The Deen's ListTM
A service of Deen Capital Management, Inc. (www.deencapital.com)
Vol.2 #288 Wednesday, December 8, 2004 10:21AM ET

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

Market Stance: BEARISH (since December 7, 2004)

  Contents

Year-To-Date Performance
Sold Digital River Inc. (DRIV)
Sold Infocrossing Inc. (IFOX)
Sold Innovative Solutions (ISSC)
Open Positions
Subscription Information
Privacy Policy
Disclaimers

  Year-To-Date Performance

Year-To-Date as of December 7, 2004

Deen Capital+4.7%*
S&P 500+5.9%

* 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 Digital River Inc. (DRIV)

Net sell price in managed accounts* $41.96
Date(s) bought Sep 13 2004
Net buy price in managed accounts* $27.42
Holding period 12.3 weeks
Gain/loss in managed accounts +53.0% (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.

This morning, I continued moving all accounts to a mostly cash position, in line with my newly bearish stance. With this morning's selling, we are now completely out of tech stocks. (We are still holding four stocks in other industries.)

-KD, December 8, 2004

  Sold Infocrossing Inc. (IFOX)

Net sell price in managed accounts* $16.75
Date(s) bought Nov 17 2004
Net buy price in managed accounts* $15.05
Holding period 3.0 weeks
Gain/loss in managed accounts +11.3% (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.

This morning, I continued moving all accounts to a mostly cash position, in line with my newly bearish stance. With this morning's selling, we are now completely out of tech stocks. (We are still holding four stocks in other industries.)

-KD, December 8, 2004

  Sold Innovative Solutions (ISSC)

Net sell price in managed accounts* $29.68
Date(s) bought Nov 18 2004
Net buy price in managed accounts* $29.02
Holding period 2.9 weeks
Gain/loss in managed accounts +2.2% (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.

This morning, I continued moving all accounts to a mostly cash position, in line with my newly bearish stance. With this morning's selling, we are now completely out of tech stocks. (We are still holding four stocks in other industries.)

-KD, December 8, 2004

  Open Positions

Company Name Stock
Symbol
Buy
Date
NetBuy
Price*
Current
Price**
Weeks
Held
Gain
(Loss)
China Yuchai Int'l Ltd.CYD12/02/04$17.51$16.730.9-4.5%
Bluegreen Corp.BXG11/23/04$14.64$18.692.1+27.7%
NCI Building Systems Inc.NCS11/16/04$34.72$38.103.1+9.7%
Monarch Casino & ResortMCRI10/27/04$27.11$33.646.0+24.1%
Average3.0+14.3%

  Subscription Information

Welcome to The Deen's ListTM, 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 ListTM involve a high degree of risk. It should not be assumed that any stock discussed in The Deen's ListTM 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.