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.

1.25.08 4.15 Settlement

Trade Date:
1/25/2008
	EST		Buy		Sell
Position	Time	Type	Price	Average	Price	Type	P/L
-1	Open				1352.00	SE1
-2	9:33			1360.750	1368.75	SE2
-1	10:02	BF1	1362.25				-$75.00
0	10:31	BF2	1357.25				$175.00
1	10:32	BE1	1357.00
2	10:59	BE2	1350.25
3	12:59	BE3	1343.25	1350.166
2	2:37				1338.00	SF1	-$608.30
3	2:48	BE3	1331.25	1343.861
3	4:15				1334.00	Close	-$1,479.15
					-14.72%		-$1,987.45

Summary:

Loss today of $1987.45, for a Loss of 14.72%.

Our market activity was initiated from the BE side (four times) and the SE side (one time): two trades were filled, one was filled from the previous overnight position; three are being carried over the weekend.

We concluded the session (BE1 at 1343.86).

SF1 1347.25, SF2 1360.50, SF3 1373.75
SS123 1307.50

bE3 Filled

Filled	1331.25	BE3
Position:	3	Price	1343.861	BA123
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE3	1331.25		1346.50	SF1
			1316.25	SS

SF1 filled SS3 canceled

Filled	1338.00	SF1
Position:	2	Price	1350.166	BA12
Working Orders:
	Buy		Sell
Type	Price		Price	Type
BE3	1331.25		1346.50	SF2

SF1lowered

Working Orders:
	Buy		Sell
Type	Price		Price	Type
			1338.00	SF1
			1327.00	SS3

BE3 Filled

Filled	1343.25	BE3
Position:	3	Price	1350.166	BA123
Working Orders:
	Buy		Sell
Type	Price		Price	Type
			1348.75	SF1
			1327.00	SS3