The Deen's List Vol.3 #228

The Deen's List^TM

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

Vol.3 #228 Saturday, September 10, 2005

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

Weekly Status Report: Contents

Year-To-Date Performance
Market Commentary
Open Positions
Stocks Sold Over Past 13 Weeks
Subscription Information
Privacy Policy
Disclaimers

Year-To-Date Performance

Year-To-Date as of September 9, 2005
Deen Capital	-1.2%	*
S&P 500	+2.4%

* 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.

Market Commentary

Market Stance: BULLISH (since September 6, 2005)

Last week was a solid up week, and a bearish-to-bullish transition week for Deen Capital accounts. Typically, during weeks such as this, we start out heavily in cash, and therefore end up under-performing. This time was different. I had held some stocks through the August correction and I bought a few exceptionally strong special situations even before turning bullish, so we started the week with a reasonable exposure to the market. Result: We outperformed the market averages.

All trends are now up, and my stock picks are performing very well. My technical indicators are now overall bullish (two bullish and one neutral). My Performance-of-Recent-Stock-Picks Index now stands at a solidly bullish +6.8, up from a neutral +3.6 a week ago (scale -10 to +10). Also, 61% of stocks ($8 and up) are now trading above their 50-day moving average. That's up from 54% a week ago. I still rate this metric as "neutral", however, as the trend is ambiguous. Then there's my NASDAQ Timing Model (Ver.10q), which has been continuously bullish since July 8.

All in all, the market now has a clear upward bias, and our stocks are among those leading the way.

-KD, September 10, 2005

Open Positions

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

SFBC International Inc. SFCC 09/09/05 $44.48 $43.51 0.0 -2.2%

Biovail Corp. BVF 09/09/05 $22.24 $22.58 0.0 +1.5%

Psychiatric Solutions Inc. PSYS 09/06/05 $49.51 $52.80 0.4 +6.6%

Martin Marietta Materials MLM 09/06/05 $73.08 $71.50 0.4 -2.2%

Neoware Systems Inc. NWRE 09/02/05 $13.14 $15.05 1.0 +14.5%

PetMed Express Inc. PETS 09/01/05 $10.47 $11.18 1.1 +6.8%

Tiffany & Co. TIF 08/31/05 $37.40 $38.45 1.3 +2.8%

Tidewater Inc. TDW 08/31/05 $45.05 $46.09 1.3 +2.3%

NVIDIA Corp. NVDA 08/30/05 $30.01 $32.19 1.4 +7.3%

ZYGO Corp. ZIGO 08/26/05 $12.48 $12.51 2.0 +0.3%

Seacor Holdings Inc. CKH 08/10/05 $70.36 $70.31 4.3 -0.1%

NetEase.com Inc. NTES 08/04/05 $74.35 $76.86 5.1 +3.4%

Hologic Inc. HOLX 07/27/05 $43.79 $49.71 6.3 +13.5%

Getty Images Inc. GYI 07/27/05 $79.78 $83.85 6.3 +5.1%

Amgen Inc. AMGN 07/21/05 $80.00 $84.51 7.1 +5.6%

The Sportsman's Guide, Inc. SGDE 07/19/05 $21.42 $25.55 7.4 +19.3%
Average 2.8 +5.3%

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

Stocks Sold Over Past 13 Weeks

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

Genzyme Corp. GENZ 07/14/05 $65.45 08/25/05 $68.53 6.0 +4.7%

Forward Industries Inc. FORD 07/25/05 $23.66 08/24/05 $23.84 4.3 +0.8%

Lufkin Industries Inc. LUFK 07/11/05 $41.45 08/17/05 $43.12 5.3 +4.0%

Headwaters Inc. HW 08/12/05 $43.05 08/17/05 $39.00 0.7 -9.4%

Pioneer Natural Resources Co PXD 08/15/05 $45.25 08/17/05 $43.41 0.3 -4.1%

Cascade Corp. CAE 06/16/05 $42.82 08/11/05 $41.81 8.0 -2.4%

LKQ Corp. LKQX 05/17/05 $22.66 08/10/05 $27.91 12.1 +23.1%

Best Buy Co. Inc. BBY 06/14/05 $44.28 08/10/05 $49.22 8.1 +11.2%

Resources Connection, Inc. RECN 07/13/05 $29.61 08/10/05 $28.71 4.0 -3.0%

SI International SINT 07/26/05 $31.44 08/10/05 $30.31 2.1 -3.6%

Click Commerce Inc. CKCM 05/06/05 $15.30 08/09/05 $19.07 13.6 +24.6%

Aldila Inc. ALDA 08/02/05 $27.00 08/09/05 $25.55 1.0 -5.4%

Pharmaceutical Prod Dev PPDI 07/14/05 $57.93 08/08/05 $55.55 3.6 -4.1%

Robert Half International RHI 07/25/05 $33.82 08/08/05 $32.62 2.0 -3.5%

Genesis Microchip Inc. GNSS 07/25/05 $25.30 08/08/05 $24.02 2.0 -5.1%

Jabil Circuit Inc. JBL 06/28/05 $31.30 08/05/05 $30.45 5.4 -2.7%

American Home Mtg Inv Corp AHM 07/19/05 $38.40 08/05/05 $35.72 2.4 -7.0%

MicroStrategy Inc. MSTR 07/29/05 $79.11 08/05/05 $74.31 1.0 -6.1%

Quality Systems Inc. QSII 07/08/05 $52.32 08/03/05 $62.52 3.7 +19.5%

Stanley Works SWK 07/19/05 $50.78 08/01/05 $48.48 1.9 -4.5%

Grey Wolf Inc. GW 06/17/05 $7.40 07/27/05 $7.57 5.7 +2.3%

Empire Resources ERS 06/29/05 $9.96 07/22/05 $11.19 3.3 +12.4%

Epicor Software Corp. EPIC 07/20/05 $15.99 07/22/05 $14.61 0.3 -8.6%

Superior Energy Svcs Inc. SPN 07/06/05 $19.34 07/19/05 $18.82 1.9 -2.7%

Guess? Inc. GES 07/08/05 $19.61 07/15/05 $19.30 1.0 -1.6%

Ctrip.com International CTRP 07/05/05 $55.08 07/13/05 $50.73 1.1 -7.9%

Forward Industries Inc. FORD 04/21/05 $15.43 06/27/05 $17.28 9.6 +11.9%

Per-Se Technologies Inc. PSTI 05/05/05 $17.77 06/27/05 $19.60 7.6 +10.3%

NetEase.com Inc. NTES 06/16/05 $58.98 06/27/05 $56.58 1.6 -4.1%

TALX Corp. TALX 04/21/05 $25.15 06/24/05 $28.20 9.1 +12.1%

Hutchinson Technology Inc. HTCH 04/25/05 $37.30 06/24/05 $38.13 8.6 +2.2%

MICROS Systems Inc. MCRS 05/02/05 $41.19 06/24/05 $46.00 7.6 +11.7%

aQuantive Inc. AQNT 05/04/05 $12.61 06/24/05 $16.86 7.3 +33.7%

Microsemi Corp. MSCC 05/19/05 $19.86 06/24/05 $19.29 5.1 -2.9%

Asta Funding Inc. ASFI 05/23/05 $27.12 06/24/05 $27.10 4.6 -0.1%

Esterline Technology Corp. ESL 05/27/05 $38.02 06/24/05 $38.64 4.0 +1.6%

Meritage Homes Corp. MTH 06/23/05 $83.36 06/24/05 $79.05 0.1 -5.2%

Photronics Inc. PLAB 05/18/05 $20.35 06/23/05 $24.49 5.1 +20.3%

TechTeam Global Inc. TEAM 05/19/05 $14.30 06/21/05 $13.32 4.7 -6.9%

ECI Telecom Ltd. ECIL 05/27/05 $9.03 06/21/05 $8.42 3.6 -6.7%

InterVideo Inc. IVII 05/18/05 $14.71 06/17/05 $15.50 4.3 +5.4%

LifeCell Corp. LIFC 04/27/05 $11.89 06/15/05 $13.68 7.0 +15.0%

Fargo Electronics Inc. FRGO 05/09/05 $15.21 06/15/05 $17.93 5.3 +17.9%
Average 4.6 +3.2%

* Net buy (sell) prices shown are the total net purchase cost (proceeds) after commissions for all managed accounts divided by the total number of shares. The Gain(Loss) is therefore net after commissions.

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.

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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