Monthly Report 

1^st July 2006  – 31st July 2006

I have to say I was a little disappointed with this month, as it seemed to hold so much promise, but didn't deliver towards the end.  Several times during the month I was up around 15%, but just couldn't get past that point.  Nonetheless, I finished the month up +11%, and I'm certainly not going to complain at that.

If I had to put the tailing off of performance down to a reason, I'd have to say that it coincides with the hostilities in the Middle East between Israel and Lebanon.   The situation is tragic, particularly for all those who have loved ones caught up in the troubles.