Rohrs & Company LLC

Seasonal Commodities Program

The Advisor’s Seasonal Commodities Program is based primarily on fundamental analysis and seeks to take advantage of identifiable seasonal trends in the prices of certain commodities, including agricultural products, energy, metals, interest rates and currencies, to anticipate price changes. Many factors, often unpredictable, affect the prices of commodities, including governmental, agricultural and trade programs and policies, and national and international political and economic events. Nonetheless, both the academic and investment communities have recognized that, in certain markets, particular conditions and events occur from year to year, creating inevitable cycles of supply and demand. These annual cycles, in turn, create relatively well-defined seasonal patterns of price responses, established tendencies for prices to move in the same direction at a similar time every year. The cycles of seasonal price patterns, of course, are not perfect. Seasonal trends are subject to various and, often, conflicting fundamental forces. Gary L. Knapp, the Advisor’s trading principal, has developed a program designed to identify the more reliable seasonal price patterns in various commodities. Mr. Knapp will combine his understanding of these price patterns with rigorous fundamental analysis to select the commodities to be traded and the appropriate entry and exit points. The Advisor may also use the forward markets, the interbank markets or exchange futures for physicals in connection with its trading strategies. Options on futures may be bought and sold, either in the initiation of a trade, or to augment or balance a position once a futures trade has been initiated.