Summary

-The Advisor?s trading program is based on both, fundamental and technical analysis. The program will primarily trade in the foreign exchange futures and options markets.  In addition, interest rate and stock index futures and options will also be traded but the allocations will be minimal.  The Advisor will base trading decisions on the analysis of price patterns and macro-economic data. The Advisor does not incorporate the use of algorithms into its trading, as each trading decision is entirely discretionary. Although the Advisor may use various methods when establishing trading decision criteria, the Advisor makes no representation that every trade will conform to a set of established trading rules.  The program will look at global macro economics when developing an outlook for the foreign currency markets, interest rate markets, and equity markets. In addition to economic data, constant study of political matters, both U.S. and geopolitical, will impact the Advisor?s outlook formulation, as the impact of government decisions is rather large in global markets. The economic data, along with the political analysis, will be used to establish a long-term outlook in a particular market, and the program will trade various positions in the attempt to profit.nbsp;&The Advisor will utilize several trading strategies. The Advisor may purchase options, enter into debit and credit spreads, sell naked options, and/or take a position in a futures contract, while simultaneously hedging the futures contract by purchasing and/or selling an option. The Advisor?s goal in all cases is to minimize risk exposure, while allowing for significant profit potential. The Advisor also reserves the right to refrain from trading the program for a period of time, if market volatility creates unfavorable trading conditions. The program is not an actively traded program. Program positions are generally held from 2 ? 6 weeks, but when necessary, positions may be held for shorter or longer lengths of time. The Advisor will trade the program with a 1-3 month outlook, although most option positions will expire within a period of 2 ? 6 weeks. &