Covered Call Analyzer from Investment Enhancing Systems, Inc.

$10,0000 Retirement Portfolio Trades for July 2005

	Income*	Cost*	Balance
300 shares of SLAB purchased at $29.36 in March. Sell 3 Apr30 at $1.10. Not called in April. Price at $27.34 and value $8,202 on 4/16/2005. Sell 3 May30 at $0.80. Not called in May. Price at $27.33 and value $8,199 on 5/20/2005. Sell Jun30 at 0.20. Not called in June. Price at $28.53 and value $8,559 on 6/18/2005. Will now sell Jul30 at 0.45. Not called in July. Price at $28.00 and value $8,400 on 7/16/2005. Sell Aug30 at 0.70.	$196	still own shares	$3,558
300 shares of IMCL purchased in April at $31.37. Sell 3 May35 at $0.85. Not called in May. Price at $33.07 and value $9,921 on 5/20/2005. Sell Jun35 at 0.90. Not called in June. Price at $33.80 and value $10,140 on 6/18/2005. Sell Jul35 at 1.30. Not called in June. Price at $34.15 and value $10,245 on 7/16/2005. Sell Aug35 at 1.80.	$526	still own shares	$3,558
500 shares of MYGN purchased in April at $17.15 using Aggressive List. Sell 5 Apr22.5 at $0.95. Not called in May. Price at $17.33 and value $8,665 on 5/20/2005. Will now sell Jun17.5 at 0.75. Strike price lowered to 17.5, still above purchase price. Price at $15.50 and value $7,750 on 6/18/2005. Sell Jul17.5 at 0.15. Called at $17.50 in May. Proceeds $8,730 after commission.			$12,288
800 shares of TASR purchased in May at $11.13. Sell 8 Jun12.5 at $0.55. Not called in June. Price at $10.65 and value $8,520 on 6/18/2005. Sell Jul12.5 at 0.35. Not called in July. Price at $10.00 and value $8,000 on 7/16/2005. Sell Aug12.5 at 0.15.	$98	still own shares	$12,288
600 shares of NFLX at $15.89. Sell 6 Jun17.5 at $0.55. Not called in June. Price at $17.22 and value $10,332 on 6/18/2005. Sell Jul17.5 at 0.75. Not called in July. Price at $16.40 and value $9,840 on 7/16/2005. Sell Aug17.5 at 0.60.	$341	still own shares	$12,288
600 shares of OVTI at $16.18. Sell 6 Jun17.5 at $0.55. Not called in June. Price at $15.64 and value $9,384 on 6/18/2005. Sell Jul17.5 at 0.65. Exercised get-out price at $13.75 after buying back calls at 0.24. Proceeds $8,230 after commission.	($163)		$20,518
800 shares of IIG purchased in June at $11.20. Sell 8 Jun12.5 at $0.55. Not called in July. Price at $10.63 and value $8,504 on 7/16/2005. Sell Aug12.5 at 0.25.	$178	still own shares	$20,518
600 shares of ZEUS purchased in June at $15.95. Sell 6 Jun17.5 at $0.45. Exercised get-out price at $13.56 after buying back calls at 0.11. Proceeds $8,116 after commission.	($85)		$28,634
300 shares of BCSI purchased in June at $27.67. Sell 3 Jun30 at $0.70.Called at $30.00 in July. Proceeds $8,980 after commission.			$37,614
200 shares of AAPL purchased in June at $38.16. Sell 2 Jun40 at $1.35. Called at $40.00 in July. Proceeds $7,980 after commission.			$45,594
From Conservative "Stocks-to-Consider" for July 16, 2005
Buy 400 shares of SYNA at $20.09. Sell 4 Aug22.5 at $0.55.	$204	$8,056	$44,789
Buy 700 shares of NVTL at $13.55. Sell 7 Aug15 at $0.35.	$225	$9,505	$35,284
Buy 500 shares of SGTL at $18.40. Sell 5 Aug20 at $0.75.	$358	$9,220	$26,064
Buy 700 shares of RMBS at $13.62. Sell 7 Aug15 at $0.30.	$190	$9,554	$16,510
Buy 800 shares of SIMG at $11.47. Sell 8 Aug12.5 at $0.30.	$218	$9,196	$7,314
Portfolio value at July 16, 2005 is $97,834 after $2,286 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 2005, 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 2005. 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. Click on the month below to view details of stocks bought and calls sold and when we held the stock or exercised our get-out price. We anticipate good months and poor months, with a general gain at year end. PATIENCE usually wins.

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