This letter takes a systematic, opportunistic,
multiday approach to trading futures contracts on
S&P 500 E-minis, Russell 2000 E-minis, S&P 400 E-minis,
the VIX, U.S. dollar, the Swiss franc, Canadian dollar,
German bund, live cattle, copper, coffee, cotton,
cocoa, orange juice, corn, wheat and soybean oil.
Trades will take two days to two months.