This publication is intended solely for information purposes and is not to be construed, under any circumstances, by implication or otherwise, as an offer to sell or a solicitation to buy, sell, or trade in any commodities, currencies or securities herein named.

Information is obtained from sources believed to be reliable, but is in no way guaranteed.

No guarantee of any kind is implied or possible where projections of future conditions are attempted.

In no event should the content of this market letter be construed as an expressed or complied promise, guarantee or implication by or from Alpine investments, or any of its officers, directors, employees, affiliates or other agents that you will profit or that losses can or will be limited in any manner whatsoever.

Past results are no indication of future performance. All investments are subject to risk, which should be considered prior to making any investment decisions