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TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THERE IS UNLIMITED RISK OF LOSS IN SELLING OPTIONS. AN INVESTOR MUST READ AND UNDERSTAND THE COMMODITY TRADING ADVISOR'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.

PLEASE CONSULT YOUR OWN FINANCIAL ADVISOR BEFORE IMPLEMENTING ANY IDEA OR STRATEGY DERIVED FROM THIS COMMUNICATION. THE CONTENT ON THIS PAGE IS NOT A RECOMMENDATION OR A SOLICITATION TO TRADE. THE MARKET HAS OFTEN ALREADY ALLOWED FOR SEASONAL CHANGES. EVEN IF A SEASONAL TENDENCY OCCURS, IT MAY NOT RESULT IN A PROFITABLE TRANSACTION AS FEES AND THE TIMING OF THE ENTRY AND LIQUIDATION MAY IMPACT ON THE RESULTS. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT HAS IN THE PAST, OR WILL IN THE FUTURE, ACHIEVE PROFITS USING THESE RECOMMENDATIONS. ACE DOES NOT ENDORSE NOR NEGATE ANY COMMENTARY FROM MEDIA PUBLICATIONS ABOVE.