Port 24 Update - July expiration

Well, I am super busy at work right now and will be through mid August. So this will be a quickie post.

I was exercised on the Cardiome calls and kept my SuperGen and NVidia stock. I sold SuperGen on 7/25 at a loss -- the Dacogen trial was bad and I just don't see enough in the pipeline to keep the stock here. NVidia I will definely keep, although I am selling calls way below where I bought. Also sold calls (on 7/25/08) on Arena, Syneron, Taser, and calls on half my Neurocrine and Sangamo holdings.

My Elan holdings have no calls against them and I fully expect to sell some calls next Wednesday or so for either the $40s or $45s -- they release their detailed Alzheimer's Phase II results on 7/29 and I truly expect it to knock the socks off of Wall Street.
Dendreon announced last week that the interim results for the Provenge IMPACT trial will be available in October. Thus, my five August $7.50 calls will *probably* expire -- I am hoping for total success in the trial and so my five November calls at $12.50 may well be called away.
Taser had bad earnings, but selling calls at $5 to make some money -- same with Neurocrine but I have a bad feeling I will regret selling the 5s.

My current holdings are listed below: their value as-of 7/25 is $96,312 which along with recent cash update at $11,006 puts me at $107,270. That is a 7.27% return so far through 2.5 months -- annualized at about 35%.

Regards,
Trond

Holdings:
2000 NBIX (-10), 1000 ELN, 2000 DNDN (-10), 1200 TASR (-12), 2000 ARNA (-20), 1000 SGMO (-5), 400 NVDA (-4), 400 ELOS (-4)