Important Market Information

Past performance is no indication of future results. This journal content is the property of Safety Harbor Capital and is not to be disseminated without permission. Consult your investment advisor before investing in anything. Never put all your money into one investment. No regulatory authority approves nor endorses this journal. Copyright 2005. All rights reserved.

These Market Notes are for members only and not to be disseminated without permission of Safety Harbor Capital. All statements made herein are opinions only and not meant as advice. Stock and options trading is not appropriate for everyone. Risk of loss in trading stocks and options is great. Past performance is no indication of future results. No regulatory authority including the CFTC endorses these market notes or any information contained herein. All rights reserved. FOR CUSTOMERS TRADING OPTIONS, CHARTS ARE PRESENTED FOR INFORMATIONAL PURPOSES ONLY. THEY ARE INTENDED TO SHOW HOW INVESTING IN OPTIONS CAN DEPEND ON THE UNDERLYING SECURITY; SPECIFICALLY, WHETHER OR NOT AN OPTION PURCHASER IS BUYING AN IN-THE-MONEY, AT-THE MONEY, OR OUT-OF-THE MONEY OPTION. FURTHERMORE, THE PURCHASER WILL BE ABLE TO DETERMINE WHETHER OR NOT TO EXERCISE HIS RIGHT ON AN OPTION DEPENDING ON HOW THE OPTIONS STRIKE PRICE COMPARES TO THE UNDERLYING SECURITY PRICE. CHARTS ARE INTENDED TO IMPLY THAT OPTION PRICES MOVE IN TANDEM WITH THE UNDERLYING SECURITY. IN FACT, OPTION PRICES MAY ONLY MOVE A FRACTION OF THE PRICE MOVE IN THE UNDERLYING SECURITY. IN SOME CASES, THE OPTION MAY NOT MOVE AT ALL OR EVEN MOVE IN THE OP5POSITE DIRECTION OF THE UNDERLYING SECURITY.