Investment Enhancing Systems, Inc. – Covered Call Analyzer

$100,0000 Retirement Portfolio Trades for April 2007

NOTE: The markets took a big one day hit on February 27, 2007 and became very volatile in the weeks following. We did not panic sell at that time. Instead we held all stocks, even though some got close to or went below our get-out price of -15%. We continued to hold out stocks through expiration in March (the 17th) in anticipation (and hope) of some rebound.

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	Income*	Cost*	Balance
From March:			$1,339
From Conservative "Stocks-to-Consider" for January 22, 2007 and putting $10,000 into the money available field.
400 shares of NFLX purchased in January at $22.56 and sell 4 contracts of QNQ BE (Feb$25.00) at $0.75 expiring on 2/17/2007. Not called in February. Price at $22.87 and value at $9,148 on 2/17/2007. Sold Mar25 at $0.25. Did not reach get-out price during volatility period. Not called in March. Price at $21.02 and value at $8,408 on 3/17/2007. Will now sell Apr22.5 at $0.35. Note that we have lowered the strike price since it is very close to the purchase price. Not called in April. Price at $22.10 and value at $8,840 on 4/21/2007. Will now sell May22.5 at $0.60.	$224	Still own shares	$1,339
500 shares of BEBE purchased in January at $17.95 and sell 5 contracts of KUO BD (Feb$20.00) at $0.30 expiring on 2/17/2007. Not called in February. Price at $19.00 and value at $9,500 on 2/17/2007. Sold Mar20 at $0.35. Not called in March. Price at $17.05 and value at $8,525 on 3/17/2007. Will now sell Mar17.5 at $0.55. Note that we have lowered the strike price since is is very close to the purchase price. Called in April at $17.50. Proceeds $8,730 after commission.			$10,069
700 shares of TOMO purchased in January at $13.77and sell 7 contracts of QWX BC (Feb$15.00) at $0.35expiring on 2/17/2007. Not called in February. Price at $12.79 and value at $8,953 on 2/17/2007. Sold Mar15 at $0.20. The price went below our get-out price ($11.70), dipped to $11.40, and then was halted. It rebounded nicely after the halt. Not called in March. Price at $14.44 and value at $10,108 on 3/17/2007. Will now sell Apr15 at $0.15. Not called in April. Price at $14.28 and value at $9,996 on 4/21/2007. Holding.		Still own shares	$10,069
From Conservative "Stocks-to-Consider" for February 17, 2007 and putting $10,000 into the money available field.
500 shares of IIG purchased in February at $19.90 and sell 5 contracts of IIG CX (Mar$22.50) at $0.95 expiring on 3/17/2007. Did not reach get-out price during volatility period. Not called in March. Price at $20.25 and value at $10,125 on 3/17/2007. Will now sell Apr22.5 at $0.80. Called in April at $22.50. Proceeds $8,980 after commission.			$19,049
400 shares of GGC purchased in February at $20.17 and sell 4 contracts of GGC CX (Mar$22.50) at $0.30 expiring on 3/17/2007. Price dipped below the get-out price ($17.14), on March 13, but we did not sell. Not called in March. Price at $17.65 and value at $7,060 on 3/17/2007. Will now sell Apr20 at $0.30. Note that we have lowered the strike price since it is very close to the purchase price. Exercised get-out price at $17.14 on March 28, 2007 after buying back calls at $0.05.Proceeds $6,836 after commission.			$25,895
300 shares of ISLE purchased in February at $27.55 and sell 3 contracts of QEP CF (Mar$30.00) at $0.45 expiring on 3/17/2007. Did not reach get-out price during volatility period. Not called in March. Price at $24.97 and value at $7,491 on 3/17/2007. Holding. Price at $26.69 and value at $8,007 on 4/21/2007. Continuing to hold.		Still own shares	$25,895
400 shares of MATK purchased in February at at $23.28 and sell 4 contracts of KQT CE (Mar$25.00) at $0.65 expiring on 3/17/2007. Did not reach get-out price during volatility period. Not called in March. Price at $20.25 and value at $8,100 on 3/17/2007. Holding. Price at $22.92 and value at $9,168 on 4/21/2007. Continuing to hold.		Still own shares	$25,895
From Conservative "Stocks-to-Consider" for March 17, 2007 and putting $10,000 into the money available field.
700 shares of SWIR purchased in March at $13.64 and sell 7 contracts of IYQ DC (Apr$15.00) at $0.25 expiring on 4/21/2007. Called in April at $15.00. Proceeds $10,480 after commission.			$36,365
200 shares of CAL purchased in March at $36.83 and sell 2 contracts of CAL DH (Apr$40.00) at $1.15 expiring on 4/21/2007. Called in April at $40.00. Proceeds $7,980 after commission.			$44,345
200 shares of IBN purchased in March at $36.91 and sell 2 contracts of IBN DH (Apr$40.00) at $0.90 expiring on 4/21/2007. Called in April at $40.00. Proceeds $7,980 after commission.			$52,325
From Conservative "Stocks-to-Consider" for April 21, 2007 and putting $10,000 into the money available field.
Buy 500 shares of NTES at $18.51 (closing last trade price) and sell 5 contracts of NQG ED (May$20.00) at $0.30 (closing bid price) expiring on 5/19/2007.	+$133	$9,275	$43,050
Buy 200 shares of CFC at $37.36 (closing last trade price) and sell 2 contracts of CFC EH (May$40.00) at $0.90 (closing bid price) expiring on 5/19/2007.	+$167	$7,429	$35,621
Buy 200 shares of AEM at $37.42 (closing last trade price) and sell 2 contracts of AEM EH (May$40.00) at $0.75 (closing bid price) expiring on 5/19/2007.	+$137	$7,504	$27,117
Buy 300 shares of GG at $25.65 (closing last trade price) and sell 3 contracts of GG EY (May$27.50) at $0.35 (closing bid price) expiring on 5/19/2007.	+$91	$7,715	$20,402
Buy 200 shares of PMTI at $38.23 (closing last trade price) and sell 2 contracts of HKQ EH (May$40.00) at $1.50 (closing bid price) expiring on 5/19/2007.	+$287	$7,666	$12,736
Buy 300 shares of BRCM at $33.22 (closing last trade price) and sell 3 contracts of RCQ EG (May$35.00) at $0.75 (closing bid price) expiring on 5/19/2007	+$211	$9,986	$2,750
Totals for April:	$1,250		$2,750
Portfolio value at April , 2007 is $88,456 after $1,250 taken as income .

*After the effect of all commissions.

The stocks listed above are for illustrative and educational purposes only and should not be construed as an endorsement, recommendation, or solicitation to buy or sell any particular security.

Starting in January 2007, Investment Enhancing Systems, Inc. provided this retirement portfolio using the stocks identified in our Conservative "Stocks-to-Consider" list. We started by investing $100,000 in stock buy/writes identified by the Covered Call Analyzer on expiration weekend for January 2007. Since it is a retirement portfolio, we take the premium income each month as income. We reinvest (keep in the portfolio) stock price appreciation to the strike price. Our objective is to maintain and grow the portfolio while maintaining a monthly income of over $2000. We will update this portfolio each month on expiration weekend, using the Analyzer, to find more buy/writes using the monies realized from called or "get-out" sales.

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