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Program Description:
Trading Objective
and Strategy
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Rosetta Capital Management offers
two trading programs: the "Rosetta
Program" and the "Macro
Program", both of which
were developed by Rosetta Capital
Management's principal,
Jim Green, using their extensive
futures and related backgrounds.
The Programs are very similar,
except that the Rosetta Program
generally trades exclusively
in livestock and grain markets,
whereas the Macro Program trades
in more markets, including financial
instruments, stock indices,
currencies, precious metals,
and energy products in addition
to the livestock and grain markets.
Since certain aspects of Rosetta
Capital Management's Rosetta
Program and the Macro Program
proprietary and confidential,
the following discussion is
general by necessity and is
not intended to be exhaustive.
The objective of both Programs
(Rosetta Program and Macro Program)
is to generate significant profits
with volatility that is relatively
low in the context of the markets
that Rosetta Capital Management
trades. There is no assurance
this objective will be achieved
or that clients will avoid substantial
losses. The programs are
appropriate only for clients
who can afford, understand and
accept the substantial risks
associated with aggressive trading
in volatile markets.
The Rosetta Program and Macro
Program primarily rely on fundamental
analysis, which considers the
various factors that affect
the supply and demand of a particular
commodity interest in order
to predict future prices.
Fundamental analysis assumes
that markets are imperfect and
that information is not instantaneously
assimilated or disseminated
in the marketplace. By
monitoring relevant supply and
demand factors, a state of disequilibrium
of conditions may be identified
that has yet to be reflected
in the price of that commodity
interest. Such factors
may include weather, the economics
of a particular business or
commodity, government policies,
domestic and foreign political
and economic events and changing
trade prospects.
However, the Rosetta Program
and Macro Program also utilize
certain technical overlays.
Technical analysis is based
on the theory that the study
of the past price action in
a given market, rather than
factors that effect the supply
and demand of a particular commodity
interest, provides a means of
anticipating future prices.
Technical analysis operates
on the theory that market prices
at any given time reflect all
known factors affecting supply
and demand for a particular
commodity interest. Consequently,
only a detailed analysis of,
among other things, actual daily,
weekly and monthly price fluctuations,
volume variations and changes
in open interest are of predictive
value when determining the future
course of price movements.
The Programs' technical
overlays focus on short- and
medium-term price data in search
of repetitive patterns that
reflect trending markets.
In addition to price data, the
Rosetta Program and Macro Program
also evaluate volatility breadth
and volume using analytical
tools such as oscillators, moving
averages and support and resistance
levels.
The Rosetta Program and Macro
Program utilize a number of
trading rules, some of which
are applied via computer.
The computerized rules generally
assist in the assessment of
when to enter and exit designated
markets and the optimum position
size for a participating customer's
account.
However, the Rosetta Program
and Macro Program are not fully
automated and are not totally
mechanical. Rosetta Capital
Management's trading decisions
are aided by computer-generated
technical analysis but are discretionary
based on its assessment of fundamental
factors.
In the Macro Program, client
accounts typically may be diversified
among approximately ten to twenty
markets, while the diversification
in the Rosetta Program generally
will be more limited due to
the smaller number of markets
typically employed in that Program.
However, there are no diversification
parameters imposed on either
Program. At any time and
from time to time, client accounts
in either Program may be diversified
among a larger number of markets,
concentrated to one or a few
positions or held entirely in
cash.
Within a particular program,
Rosetta Capital Management generally
will trade accounts of the same
Nominal Value in the same manner,
except that variations in position
size may occur due to difference
in funding levels among accounts
having the same Nominal Value.
In addition, among accounts
trading in a particular Program,
Rosetta Capital Management may
employ more contracts per a
given unit of Nominal Value
in larger accounts than in smaller
accounts, because the additional
equity in larger accounts makes
it possible for Rosetta Capital
Management to scale into positions
as market conditions may warrant
in Rosetta Capital Management's
discretion.
The selection of markets in
either Program is totally within
Rosetta Capital Management's
discretion and may change without
notice to clients. Accordingly,
Rosetta Capital Management may
add or delete markets at any
time and from time to time as
it deems appropriate. In addition,
Rosetta Capital Management may
elect to invest cash in a client's
account in interest-bearing
obligations, such as United
States Treasury Bills.
The value of such obligations
will be applied to margin requirements
to the extent allowable by various
exchanges.
The development of any trading
strategy is a continuous process
and Rosetta Capital Management
may modify the Programs at any
time and from time to time without
notice to clients unless Rosetta
Capital Management, in its sole
discretion, deems such changes
material.
The foregoing description is
general by necessity and in
no way restricts or limits Rosetta
Capital Management's actions
on behalf of a client.
In other words, no restrictions
apply to the Programs, including
that there are no restrictions
on their use of domestic, exchange-traded
futures instruments. Rosetta
Capital Management may trade
clients' accounts, in either
Program, in futures and option
on futures in any and all U.S.
exchanges. With respect
to either Program, the Advisor,
in its sole discretion, may
make changes to the positions
held on behalf of clients, narrow
or otherwise modify their exposure
to any market or markets and
may exit all markets and hold
no open positions at any time
and from time to time.
Therefore, at any time, clients'
accounts in either Program may
be committed to a single market
or contract, diversified among
many markets and positions or
held in cash or interest-bearing
securities.
THERE CAN BE NO ASSURANCE THAT
THE PROGRAMS WILL ACHIEVE THEIR
OBJECTIVES OR THAT CLIENTS WILL
AVOID SUBSTANTIAL LOSSES.
Management Information: James
Green
Jim Green is a founding principal
of Rosetta Capital Management
and its sole principal. As such,
he is responsible to manage
all aspects of Rosetta Capital
Management's operations and
trading decisions. Jim Green
has been registered as an associated
person and listed as a principal
of Rosetta Capital Management
since May 1997, when the company
first obtained registration
as a Commodity Trading Advisor
(CTA) and National Futures Association
(NFA) membership.
Jim Green's agricultural
experience began during his
childhood on a grain and livestock
farm in Henderson County in
Western Illinois. He attended
Western Illinois University
in Macomb, Illinois, where he
earned a bachelor's degree
in Finance with a minor in Economics.
Mr. Green supported himself
through college by working for
DeKalb Ag Research. Upon
graduation, he entered the management
training program and was quickly
promoted to District Sales Manager.
In 1979, Jim Green entered the
Management Trainee Program at
Heinold Commodities. After
completion of the program he
was appointed Regional Sales
Manager of Heinold's Central
Region. He served in this
position until 1985, when he
accepted a position as National
Sales Manager of Merchants Trading.
At Merchants, he diversified
his pursuits by establishing
a retail business as well as
expanding the firm's local
and introducing broker business.
In 1988, Jim Green joined Balfour
Maclaine as Senior Vice-President
and returned its troubled Chicago
operations to profitability.
In December 1990, Jim Green
and Michael Swinford, Along
with a group of colleagues,
left Balfour Maclaine and founded
Ceres Trading Division of Rosenthal
Collins Group, LLC ("RCG"),
a Chicago-based Futures Commission
Merchant. In February
1991, Ceres Trading Division
of Rosenthal Collins Group registered
as a branch office of Rosenthal
Collins Group with Jim Green
as its manager and associated
person. In addition to
this responsibilities with the
Advisor, Jim Green is the manager
of Ceres Trading Division.
By virtue of this affirmation,
he may experience certain financial
benefits with respect to clients
of the Advisor who elect to
use Rosenthal Collins Group
as their Futures Commission
Merchant.
In January 2009, Jim Green and
Michael Swinford founded Ceres
Alternative Investments, LLC.
On April 20, 2009, Ceres became
registered with the Commodity
Futures Trading Commission (CFTC)
as a Commodity Pool Operator
(CPO) and on March 22, 2010,
Ceres became registered with
the Commodity Futures Trading
Commission as a Commodity Trading
Advisor (CTA) as firms registered
with the Commodity Futures Trading
Commission and members of the
National Futures Association
(NFA), Jim Green became registered
as an Associated Person and
listed Principal of Ceres Alternative
Investments, LLC on April 20,
2009.
*All clients executing this
agreement must meet the definition
of a qualified eligible person
("QEP") as defined
in CFTC Regulation 4.7.
The descriptions above are from
the manager’s disclosure
document.
THE RISK OF LOSS IN TRADING
FUTURES, OPTIONS AND OFF-EXCHANGE
FOREX CAN BE SUBSTANTIAL.
PAST RESULTS ARE NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS.
PLEASE READ THE CTA'S RISK
DISCLOSURE DOCUMENT CAREFULLY
BEFORE INVESTING MONEY.
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