Risk Disclaimer
An investment in futures contracts is speculative, involves a high degree of risk and is suitable only for persons who can assume the risk of loss in excess of their margin deposits — only genuine "risk" funds should be used in such trading. The high degree of leverage that is often obtainable in futures trading can work against you as well as for you and, as a result, can lead to large losses as well as large gains. If you purchase or sell a futures contract, you may sustain a total loss of your initial margin funds and any additional funds that you may deposit to establish or maintain your position. If the market moves against your position, you may be called upon to deposit a substantial amount of additional margin funds, on short notice, in order to maintain your position. If you do not provide the requested funds within the prescribed time, your position may be liquidated at a loss, and you will be liable for any resulting deficit in your account. Under certain market conditions, you may find it difficult or impossible to liquidate a position. Option traders should be aware that the exercise of a long option will result in a futures position.

You should carefully consider whether futures trading is appropriate for you in light of your investment experience and objectives, financial resources and other relevant circumstances. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

Information herein has been obtained and prepared from sources believed to be reliable; however no guarantee to its accuracy is made. Comments contained in these materials are not intended to be a solicitation to buy or sell any of the commodities mentioned. Opinions expressed herein are the opinions of the author only and not the opinion of any firm the author may be affiliated or associated with.

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