E-mini S&P 500
Annual Net Results
Real-Time Daytrading
Signals for 2003
(After Commissions & Slippage)

Daily Performance
Overnight Updates

Results Begin at $0 January Net Balance
(Currently trading sets of 2 S&P contracts)

	Account Size: $5,000 (for E-mini); $30,000 (for large S&P) Your broker may require a larger or smaller minimum account
	Commissions are assumed to be $5.00 RT for E-mini; $10 RT for big S&P since 2002 (prior commissions were calculated from $12.50 to $20)
	Slippage is either actual fills or estimated from the CME's Time and Sales Report. The fill from Time and Sales is the mean value 45 to 60 seconds after our signal was generated.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE BEEN UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS 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.