December 31, 2012 Update

    Cash:                             $ (4,703.42)
    Accrued Dividends:                     190.00
    Interest Accruals:                      (8.70)
    Stocks:                            121,134.05
    Options:                            (8,853.20)

  Account Value:                      $107,758.73

  Equity:                             $116,655.24
  Margin Requirement:                   80,536.67
  Available Funds:                      36,118.57

  Regulation T Margin Requirement:     110,376.90
  Special Memorandum Acct:              23,035.14

The account value of $107,758.73 compares with the value a month earlier of  $112,716.23, a return of -4.40%. However, this does not take into account $7,500.00 withdrawn from the account during the month. Adding this in to the final value gives a return for the month of 2.26%.

This compares with the change in the S&P 500 Index from 1,416.18 to 1,426.19. Adding an estimate of a quarter percent dividend payment (one twelfth of 3%), this gives a return of 0.96% for the S&P 500, so my portfolio outperformed the market in the month of December.

November 30, 2012 Update

    Cash:                             $     15.48
    Accrued Dividends:                     337.00
    Interest Accruals:                      (7.50)
    Stocks:                            120,665.58
    Options:                            (8,294.33)

  Account Value:                      $112,716.23

  Equity:                             $120,912.18
  Margin Requirement:                   73,669.98
  Available Funds:                      47,242.20

  Regulation T Margin Requirement:     102,157.88
  Special Memorandum Acct:              37,567.91

The account value of $112,716.23 compares with the value a month earlier of  $114,712.06, a return of -1.74%. However, this does not take into account $2,500.00 withdrawn from the account during the month. Adding this in to the final value gives a return for the month of 0.44%.

This compares with the change in the S&P 500 Index from 1,412.16 to 1,416.18. Adding an estimate of a quarter percent dividend payment (one twelfth of 3%), this gives a return of 0.53% for the S&P 500, so my portfolio underperformed the market in the month of November.

October 31, 2012 Update

    Cash:                             $(10,702.86)
    Accrued Dividends:                     454.40
    Interest Accruals:                      (2.50)
    Stocks:                            132,831.48
    Options:                            (7,868.46)

  Account Value:                      $114,712.06

  Equity:                             $122,450.40
  Margin Requirement:                   69,555.99
  Available Funds:                      52,894.41

  Regulation T Margin Requirement:     101,076.94
  Special Memorandum Acct:              38,138.34

Interest of $2.50 accrued on margin loan since the last update.

The account value of $114,712.06 compares with the value a month earlier of  $115,859.78, a return of -0.99%. However, this does not take into account $2,500.00 withdrawn from the account during the month. Adding this in to the final value gives a return for the month of 1.17%.

This compares with the change in the S&P 500 Index from 1,440.67 to 1,412.16. Adding an estimate of a quarter percent dividend payment (one twelfth of 3%), this gives a return of -1.73% for the S&P 500, so my portfolio outperformed the market in the month of October.

September 28, 2012 Update

    Cash:                             $ 13,486.80
    Accrued Dividends:                     170.20
    Stocks:                            113,092.42
    Options:                           (10,889.64)

  Account Value:                      $115,859.78

  Equity:                             $126,758.40
  Margin Requirement:                   73,386.51
  Available Funds:                      53,371.89

  Regulation T Margin Requirement:     100,002.19
  Special Memorandum Acct:              43,539.31

On September 29, a $172.00 dividend was paid for 400 shares of ARCC; $2.00 was paid for 200 shares of CSE; and $10.00 was paid for 100 shares of FTR.

The account value of $115,859.78 compares with the value a month earlier of  $114,037.23, a return of 1.60%. This compares, however, with the change in the S&P 500 Index from 1,406.58 to 1,440.67. Adding an estimate of a quarter percent dividend payment (one twelfth of 3%), this gives a return of 2.67% for the S&P 500, so my portfolio underperformed the market in the month of September. This is not too surprising to me because the market did very well during the month, and my strategy is designed to start to bail out when the market does particularly well.