Let’s also get caught up with my investments. I last updated in May 2006 when I bought STS, JAX, EEI, KEYN and RSC.

At my next quarterly evaluation in August 2006, I sold DSWL at a loss of 16.7% because I had held it for 2 years and it no longer met my criteria for a stock I would want to buy. I bought SYPR and BSET.

In November 2006, I sold SEMI because it reported a negative quarter on top of negative trailing 12 month earnings. I sold it at $3.02, for a 42.8% loss, just a few days before SEMI announced that it was filing for bankruptcy and dropped to $0.28. Sometimes you get lucky. I bought SGC, IAL, FLXS, CULS, PRCP, and PARL.

In February of 2007, I sold KEYN for a 18.9% gain and SYPR for a 22% loss because both reported a negative quarter on top of 12 month negative earnings. I sold SRT for a 16.2% loss because it was such a small portion of my portfolio and it didn’t meet my buy criteria. I sold COBR for a 23.9% gain and PATK for a 16.7% gain because I’d held both for 2 years, but they no longer met my buy criteria. I bought AIRT, HDNG, AWX, CAV, and JCTCF.

In April/May 2007, IAL got bought out for a 16.8% gain and BL got bought out for a 11.0% gain. I sold JCS for a 21.4% gain because they had fallen behind multiple quarters in their filings. I bought PMRY, POP and HOOK. POP dropped about 40% on the day that I bought it. Sometimes you get unlucky.

Here’s how the rest of my portfolio is doing as of May 31st, 2007.

Current Holdings	Purchased	Total Return (so far)
Champion Industries ([CHMP](http://finance.yahoo.com/q?s=CHMP))	Nov 2005	76.74%
REX Stores ([RSC](http://finance.yahoo.com/q?s=RSC))	May 2006	-18.49%
Ecology & Environment ([EEI](http://finance.yahoo.com/q?s=EEI))	May 2006	21.97%
J. Alexander's ([JAX](http://finance.yahoo.com/q?s=JAX))	May 2006	53.18%
Supreme Industries ([STS](http://finance.yahoo.com/q?s=STS))	May 2006	-8.93%
Bassett Furniture Industries ([BSET](http://finance.yahoo.com/q?s=BSET))	Aug 2006	-11.62%
Superior Uniform Group ([SGC](http://finance.yahoo.com/q?s=SGC))	Nov 2006	-2.59%
Flexsteel Industries ([FLXS](http://finance.yahoo.com/q?s=FLXS))	Nov 2006	13.85%
Cost-U-Less ([CULS](http://finance.yahoo.com/q?s=CULS))	Nov 2006	12.05%
Perceptron ([PRCP](http://finance.yahoo.com/q?s=PRCP))	Nov 2006	3.04%
Parlux Fragrances ([PARL](http://finance.yahoo.com/q?s=PARL))	Nov 2006	-30.08%
Hardinge ([HDNG](http://finance.yahoo.com/q?s=HDNG))	Feb 2007	102.01%
Avalon Holdings ([AWX](http://finance.yahoo.com/q?s=AWX))	Feb 2007	32.50%
Cavalier Homes ([CAV](http://finance.yahoo.com/q?s=CAV))	Feb 2007	21.11%
Jewett-Cameron Trading Co. ([JCTCF](http://finance.yahoo.com/q?s=JCTCF))	Feb 2007	24.82%
Air T ([AIRT](http://finance.yahoo.com/q?s=AIRT))	Feb 2007	11.97%
Redhook Ale Brewery ([HOOK](http://finance.yahoo.com/q?s=HOOK))	May 2007	4.89%
Pope & Talbot ([POP](http://finance.yahoo.com/q?s=POP))	May 2007	-46.95%
Pomeroy IT Solutions ([PMRY](http://finance.yahoo.com/q?s=PMRY))	May 2007	6.95%