----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Wednesday, February 09, 2005 6:03 AM
To: "Subscriber List"
Subject: XAU CALLS

Trade (XAU) WEDNESDAY 2-9-05 6:03 AM PACIFIC

At the opening, in our trading accounts (per 100k of managed funds)
1. We will place an order to BUY TO OPEN AT MARKET 50 contracts of the March 90 calls.
We will add to this position another 50 contracts if the XAU closes above 95.


From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Wednesday, December 22, 2004 8:12 AM
To: "Subscriber List"
Subject: XAU position
Trade (XAU) WEDNESDAY 12-22-04

In our trading accounts (per 100k of managed funds)
1. We placed an order to BUY TO OPEN AT MARKET 25 contracts of the JAN. 100 PUTS, AND 50 CONTRACTS* of the XAU JAN. 105 CALLS at market.

We will add to this position another 50 put contracts if the XAU closes below 98.5, or, another 100 call contracts, if the XAU closes above 101.5.


-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Monday, August 16, 2004 10:25 AM
To: "Subscriber List"
Subject: XAUHQF 8-16-04

Trade (XAUHQ) MONDAY 8-16-04 6:52 AM PACIFIC
In our trading accounts (per 100k of managed funds)
1.We bought 50 contracts of the AUGUST 85, XAU CALLS at $3.8 (symbol:XAUHQ) Our stop for this position would be a trade BELOW 87.50 for the XAU for two consecutive hours. We will add another 50 contracts on a print ABOVE 92.00
 

-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Wednesday, October 06, 2004 6:55 AM
To: "Subscriber List"
Subject: Trade (XAVJT) WEDNESDAY 10-6-04 6:45 AM PACIFIC

Trade (XAVJT) WEDNESDAY 10-6-04 6:45 AM PACIFIC

In our trading accounts (per 100k of managed funds)
1. We added to our position by buying another 10 contracts of the OCT. 100, XAU CALLS at $3.35 (symbol:XAVJT)
===========================================================


-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Tuesday, August 10, 2004 11:02 AM
To:"Subscriber List"
Subject: XAU UPDATE TUESDAY. 8-10-04 11:00 AM PST

XAU UPDATE TUESDAY. 8-10-04 11:00 AM PST

Currently the AUGUST 85 calls are trading at $3.1 by $3.40. Our average cost is $2.6, thus, we are placing a sell stop order at $2.8, ahead of the FED's announcement. If the XAU trades above 89, we'll add to the position, otherwise we'll let the stop run, and more than likely switch to the 90 puts -if the XAU reverses and takes out today's lows after the announcement) ===========================================================


-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Thursday, August 05, 2004 9:12 AM
To: "Subscriber List"
Subject: XAU PUT/CALL OPTIONS UPDATE THUR. 8-5-04 9:00 AM PST

XAU PUT/CALL OPTIONS UPDATE THUR. 8-5-04 9:00 AM PST

In yesterday's report (see page 7, "trading ideas") we said:

"Therefore, for tomorrow (8-5-04) we will be looking to close the remaining half, as the XAU trades between 85.39 and 83.77. At that point, we will not only sell the puts, but more than likely, we will also buy the August 80 calls, expecting a rally back up to resistance."

As of 9:09 AM PST the XAU is trading at 85.34, therefore, according to what we said, we are now beginning to to close the remaining of our position in the XAU AUG. 90 PUTS (current bid/ask: 5.2/5.5) Also, we'll be opening a small "pilot" position in the XAU AUG. 85 CALLS (20 contracts, current bid/ask: 2.2/2.5) We believe that tomorrow's employment report will be below consensus, which ought to be negative for the U.S. dollar, and positive for gold.

-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Friday, July 16, 2004 6:59 AM
To: "Subscriber List"
Subject: Trade (XAUHQ) FRIDAY 7-16-04 6:42 AM PACIFIC

Trade (XAUHQ) FRIDAY 7-16-04 6:42 AM PACIFIC
In our trading accounts (per 100k of managed funds)
1. We bought 20 contracts of the AUGUST 95, XAU PUTS at $9.2 (symbol:XAUTS) Our stop for this position would be a trade ABOVE 91.50 for the XAU for two consecutive hours. We will add another 30 contracts on a print BELOW 85.75 ===========================================================



-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Monday, June 14, 2004 8:23 AM
To: "Subscriber List"
Subject: Intra-day, re: XAU Monday 6-14-04 8:16 AM PST

re: XAU Monday 6-14-04 8:16 AM PST

The XAU is trying to find support at the 81.90 level, which represents a 61.8% Fibonacci re-tracement level. If it is successful in doing so, it can rally a couple of points to intra-day resistance at 84. However, if the 81.90 level is violated decisively over the next 60 minutes, then the next downside target is the 79-80 zone. If 79 doesn't hold, then we should be looking for 76. However, for NOW the line in the sand is 81.90.

Aegean Capital Group, Inc.



-----Original Message-----
Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Monday, June 14, 2004 8:30 AM
To:"Subscriber List"
Subject: Update/6-10-04

XAU put options -Update/6-10-04

Message:
Thursday 6-19-04 12:52 PM PST We are closing half of our position in the XAU June 90 puts (XAURR) ahead of the long weekeNd. We may re-established the position on Monday, assuming nothing has taken place over the weekend that would propel the price of gold/gold stocks higher in the short term. Aegean Capital Group, Inc



-----Original Message-----
From: Aegean Capital [mailto:subscriberservices@aegeancapital.com]
Sent: Monday, May 24, 2004 8:11 AM
To: "Subscriber List"
Subject: Trade (XAURR) Monday 5-24-04 7:51 AM PACIFIC

Trade (XAURR) Monday 5-24-04 7:51 AM PACIFIC
In our trading accounts (per 100k of managed funds)
1. We bought 50 contracts of the JUNE 90, XAU puts at $5.4 (symbol:XAURR) We may sell this position by tomorrow if the XAU tests support successfully at its 20 DMA at 83. If it doesn't we'll add to the
position .