**THE 
                    DATA PRESENTED HERE ISTHE RESULT OF HYPOTHETICAL TESTING. 
                    PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. 
                    HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN 
                    INHERENT LIMITATIONS. UNLIKE ACTUAL PERFORMANCE RECORDS, SIMULATED 
                    RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES 
                    HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE OVER 
                    OR UNDER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET 
                    FACTORS SUCH AS A LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS 
                    IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED 
                    WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING 
                    MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS 
                    OR LOSSES SIMILAR TO THOSE SHOWN. PLEASE REVIEW THE ENTIRE 
                    DISCLAIMER BEFORE TRADINGOR PURCHASING THIS SYSTEM.  ALTHOUGH 
                    THESE SYSTEMS ARE PROFITABLE DURING BACKTESTING THERE IS NO 
                    GUARANTEE THAN ANY ACCOUNT TRADED WITH THESE SYSTEMS WILL 
                    BE PROFITABLE. |