2.1.08 4.15 Settlement

Trade Date:
2/1/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
-1	10:01				1392.75	SE1
0	10:24	BF1	1386.25				$375.00
1	10:44	BE1	1380.25
0	11:41				1386.75	SF1	$325.00
					5.19%		$700.00

Summary:

We had a profit of $700.00, for a return of 5.19%.

Entered twice; one a SE1 and the other a BE1 and both were profitable.

SF1 filled

Filled	1386.75	SF1
Position:		Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type

NO working orders at this time.

BE1 Filled

Filled	1380.25	BE1
Position:	1	Price	1380.250
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE2	1372.25		1386.75	SF1

BF1 Filled

Filled	1386.25	BF1
Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1380.25		1394.75	SE1

SE1 Filled

Filled	1392.75	SE1
Position:	-1	Price	1392.750
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1386.25		1399.75	SE2

Good Morning

We begin the day with position flat.

Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1378.25		1392.75	SE1

1.31.08 4.15 Settlement

Filled	1380.00	BS123
Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type

Trade Date:
1/31/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
1	9:31	BE1	1335.25
	9:58				1341.75	SF1	$325.00
					1348.75	SE1
					1355.75	SE2
				1355.750	1362.75	SE3
	3:22	BS	1380.00				-$3,637.50
					-24.54%		-$3,312.50

Summary:

A loss of $3312.5, for a -24.54% return.

One BE1 in the morning for a profit and three SE's that were stopped out in the afternoon.

We ended the day with flat position.

SE3 filled

Filled	1362.75	SE3
Position:	-3	Price	1355.750	SA123
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1354.25		SE3	1372.75
BS123	1380.00

SE2 Filled

Filled	1355.75	SE2
Position:	-2	Price	1352.250	SA12
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1350.25		SE3	1362.75

SE1 Filled

Filled	1348.75	SE1
Position:	-1	Price	1348.750
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1341.25		SE2	1355.75

SF1 Filled

Filled	1341.75	SF1
Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1334.25		SE1	1348.75

BE1 Filled

Filled	1335.25	BE1
Position:	1	Price	1335.250
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE2	1328.25		1341.75	SF1

Good Morning

Coming into today flat.

Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1335.25		1349.75	SE1
BE2	1328.25

1.30.08 4.15 Settlement

Trade Date:
1/30/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
-2	Open			1362.000
0	overnight	BF12	1358.25				$375.00
					2.78%		$375.00

Summary:

A Gain today of $375 at 2.78%.

Our market activity began with a carry over position (SE12: 1362.00). Both were filled overnight at a profit.

We concluded the session Flat.

Position Flat ...No working orders at this Time

Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type

New BE1 and SE1

Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1351.25		1365.75	SE1

Good Morning

We were filled over night on our BF12; 1358.25.

We begin the day Flat.

1.29.08 4.15 Settlement

Trade Date:
1/29/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
-3	Open			1354.500
-2	9:49	BF1	1259.25				-$237.50
-1	1:02	BF2	1252.25				$112.50
-2	3:24			1360.375	1366.25	SE2
-2	Close		1362.00				-$162.50
					-2.13%		-$287.50

Summary:

A Loss today of $287.50 at -2.13%.

Our market activity began with a carry over position (SE123: 1348.25). One was concluded at a loss. An intra-day trade was completed from the SE side for a profit of $112.50. A two lot position (SE12: 1360.375) is being carried overnight.

We concluded the session (SE12 at 1360.375).

BF1 and BF2 1358.25
BS 1387.00

SE2 Fillled

Filled	1366.25	SE2
Position:	-2	Price	1360.375
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1360.25		1342.75	SE3

BF3 Raised

Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF3	1352.25		1366.25	SE3

BF2 Filled

Filled	1352.25	BF2
Position:	-1	Price	1354.500	previous close
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF3	1345.25		1366.25	SE2

BF1 Filled New SE3 and BS123 Canceled

Filled	1359.25	BF1
Position:	-2	Price	1354.500	previous close
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF2	1352.25		1366.25	SE3

New BF1 and BS123

Position:	-3	Price	1354.500	Previous Close
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1359.25
BS123	1374.75

Good Morning

No trades were executed overnight. We remain short 3 contracts and all bids and offers are canceled at this time.

1.28.08 4.15 Settlement

Trade Date:
1/28/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
3	Open			1334.000
2	10:22				1334.75	SF1	$37.50
1	10:49				1341.75	SF2	$387.50
0	10:56				1341.75	SF3	$387.50
-1	10:59				1342.75	SE1
-2	1:06			1344.750	1346.75	SE2
-1	3:14	BF1	1341.25				$175.00
-2	3:33			1345.500	1346.75	SE2
-3	3:43			1348.250	1353.75	SE2
-3	4:15	Close	1354.50				-$937.50
					0.37%		$50.00

Summary:

A Gain today of $50.00 at .37%.

Our market activity began with a series (3) of BFs that filled the BE123 that was carried over the weekend, it was concluded profitably. An intra-day trade was completed from the SE side for a profit of $175. A three lot position (SE123: 1348.25) is being carried overnight.

We concluded the session (SE123 at 1348.25).

BF1 1345.25,BF2 1335.25, BF3 1325.25
BS123 1380.00

New BF1

Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1348.00
BS123	1360.00

BE3 Filled

Filled	1353.75	SE3
Position:	-3	Price	1348.250	SA123
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1345.25
BS123	1360.00

SE2 Filled

Filled	1346.75	SE2
Position:	-2	Price	1345.500	SA12
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1340.25		1353.75	SE3

BF1 Filled

Filled	1341.25	BF1
Position:	-1	Price	1344.250
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF2	1337.00		1346.75	SE2

SE2 Filled

Filled	134675	SE2
Position:	-2	Price	1344.750
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1441.25		1353.75	SE3

New SE2

Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1336.25		1346.75	SE2

SE1 Filled

Filled	1342.75	SE1
Position:	-1	Price	1342.750
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BF1	1336.25		1349.75	SE2

SF3 Filled

Filled	1341.75	SF3
Position:	0	Price
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1328.25		1342.75	SE1

SF2 Filled

Filled	1341.75	SF2
Position:	1	Price	1334.000	close
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1328.25		1341.75	SF3

SF2 Lowered

Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1328.25		1341.75	SF2

SF1 Filled

Filled	1334.75	SF1
Position:	2	Price	1334.000	close
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE1	1328.25		1342.75	SF2

New SF1

Working Orders:
	Buy		Sell
Type	Price		Price	Type
			1334.75	SF1

New SF1

Working Orders:
	Buy		Sell
Type	Price		Price	Type
			1336.75	SF1

Good Morning

Overnight trades were not filled and are now canceled.

We remain long three contracts.