We are in the middle of the largest loss of wealth in U.S. history. While so many are losing so much--and swearing off stocks and commodities for good--a few in-the-know traders are making a killing. You could be among these; the ones who will have lots of cash to invest for the long haul at bargain prices when the bottom comes. Now is the time to turn a small account into a large bankroll. This is the subject of Steve Briese's seminar. It is not too late, if you act now.

Futures and Forex traders: If you were provided a detailed listing of who is holding how many lots of the commodity or forex contract you trade, along with their track record, do you think you could follow the smart money's lead and make money?

The Commodity Futures Trading Commission, the government agency that overseas futures and forex trading, actually provides a complete summary of large trader positions every week. And in-the-know traders turn to Steve Briese to analyze the data and make recommendations? Subscribers to his Bullish Review newsletter include some of the largest and savviest traders in the business:

UBS Securities PIMCO Capital Group Cedar Partners Cooperfund Solaris Capital Advisors Wexford Capital H G Wellington Fly Trading MBF Clearing Tudor Investment Corp. TradeLink Llc Hellman Jordan Beanpot Financial DCM Funds Haroon Group Northwestern Mutual Life FTC Capital Philip Securities Harris Bosch Capital Management Paschal Capital Advisors Fortress Investment Group Friedberg Mercantile Group Red Rock Capital Management Charles Schwab Credit Andorra Penn Mutual Company Templeton Financial Group

This is your chance to learn from the master of the COT:

"Commitments of Traders Master Course"

Steve Briese's first COT seminar in ten years. Steve wrote the book on COT analysis. During his research he made a few critical new discoveries that are only appropriate for an advanced course.

This is the advanced course, and attendees will gain exclusive access to a new set of COT tools.

The indicator that is destined to replace the COT Index.

For 20 years, the COT Index has been the cornerstone of COT analysis. For most traders and analysts this will continue to be their primary reference and the one Steve will refer to in the Bullish Review newsletter. Nothing could be more intuitive or easy to explain than a 0 to 100% bullish rating. But those who attend this master course will learn how use an advanced state-of-the art COT-based indicator that will point out trading opportunities that the COT Index may miss. Attendees will have exclusive continuing access to online charts including this indicator following the seminar.

The indicator that identifies major trend change COT signals.

Traders marvel at how, year after year, Steve is able to separate COT signals that will lead to major trend reversals from those that signify only minor trend changes. This advanced course will introduce a new tool Steve has developed to take the guesswork out of these critical market calls and tell you when to load-up for the big score. Attendees will have exclusive continuing access to online charts including this indicator following the seminar.

Learn how Steve uses the COT data to provide a unique two-pronged trading edge to a $35 million quantitative hedge fund.

Many of the largest hedge funds subscribe to Bullish Review to apprise themselves of Steve's current "take" on the Commitments of Traders report. But if they have incorporated COT data into their algorithms, they are not talking about it. At this course you will learn one hedge fund successfully incorporated COT data into a pair of trading models. No, he is not going to disclose the specific proprietary algorithms, but I think you find Steve's approach to the problem illuminating.

Mastering the contrarian mind-set.

Let's face it. There is way too much trading information available today. But the vast majority of what is presented as "news" is old information that the market has already discounted. Most market opinions are biased, either by reference to old news or by the analyst's own blinders. And most dangerously, much of this news and opinion is presented convincingly, in spite of (or perhaps because of) the fact that it is wrong. You can thrive--for a time--by following the crowd. But you are destined to fail if you don't know when to separate yourself from the lemmings. In this course, Steve will discuss how to listen to the true mind of the market and when to ignore the market "experts".

Stand on your own analysis.

Jeannette used to be surprised when a subscriber inquired into Steve's age and health. But she has become accustomed to having people even more concerned than she is about her husband's well-being. Steve doesn't have any retirement plans and expects to continue analyzing markets for many years to come. But if your trading success hinges on successfully implementing COT analysis, this course is your chance to insure your own trading future by gaining exclusive access to Steve's very best analytical tools.

About Steve Briese

Steve Briese wrote the bible on interpreting the Commitments of Traders report and applying it to trading decisions. He has been a student of this government report for 35 years and has published his COT analysis in Bullish Review of Commodity Futures Markets for 20 years.

Steve is an acknowledged expert on the COT report, and has been featured on CNBC, CNN, Bloomberg, Dow Jones News, WSJ, Barrons, Futures Magazine, Stocks & Commodities, among others.

Currently Steve and his wife and newsletter Publisher, Jeannette are staying in Toronto where Steve is an adviser to a $35 million hedge fund using the Commitments of Traders as a primary trade screen.

What attendees say about Steve's past seminars

"Your material and insights are the best I have encountered. I like that you're down to earth, no hype, just the facts, and that you're very cerebral and don't insult the intelligence of the seminar attendees. Your seminar was also very well priced. Thank you."
—Gerald A Marcucci

"Well I have just watched the CD of the seminar, and it is the perfect complement to the handouts! This puts your seminar miles ahead of all other seminars I've attended! Thank you!"
—Geoff Lee

"By far the best trading seminar I've attended!"
—William Eggleston

"Let me know where your next seminar will be—I'll be there."
—Dean Stendal

"It made a lasting impression when you said 'I am here to give you ideas, not to tell you which trades to make'."
—Chris Goodman

"Good Solid Stuff!"
—Gil Lowry

"Your quite good at suggesting future market movements."
—Guy Brown

"You've definitely overfulfilled with handouts and materials. The booklets and CD-Rom are great!."
—Duane McKenzie

"You are an excellent technician. I learned a lot from you. You are a great teacher. Thank you."
—Craig Shepard

What Steve's peers say about his work:

"Steve does not advertise his service--but he is well known by some of the best traders in the country who closely follow his astute comments."

--Dr. Alexander Elder, Financial Trading Seminars

"You write an insightful newsletter. It is one of the few in the industry I truly respect."

--Glen Ring, Trends In Futures

"No one else that I know of has been so right on so many markets so consistently. The 'reading between the lines' and recognition of special situations is particularly impressive."

--Peter Rehmer, Elliott Wave International

"Your service is one of the very few of many that I receive which is really worth reading. What I particularly like is that it is interpretive--based on your insights and experience. You are a thinker rather than a system follower."

--David S. Fuller, Fuller Money Letter

"A voice of reason out there among all the crazy people. Keep up the good work."

--Bill Fleckenstein, Fleckenstein Capital Management

"It's [Bullish Review] unique and would certainly fit the needs of the Market Technicians Association Annual Conference. I will strongly recommend you."

--Robert Precter, Elliott Wave Theorist

"I suggest you write or call Steve for a copy of his newsletter (Bullish Review). It's one of the few publications I read and study regularly."

--Jake Bernstein, MBH Commodity Letter

"If you want to become a more knowledgeable trader, then take a good look at what this newsletter [Bullish Review] provides in the way of data and commentary."

--Thom Hartle, Stocks & Commodities Magazine

"I want to commend you on the good job you do when you look at the prices and historic positions…Keep up the good work, ...Thank you for everything you do. I really appreciate the high quality of your work"

--Kent Calhoun

Dear Futures Trader:

There aren't too many Commitments of Traders experts. And only one has published a newsletter analyzing each and every one of the 700 COT reports issued in the last 20 years. In 2008 Steve revealed his methods developed over 35 years of analyzing the COT report in a comprehensive book. Now is your chance to see face-to-face how Steve uses the COT data every week; how he thinks and analyzes dozens of real market situations. This is your chance to personally ask Steve your questions.

The Commitments of Traders report and its government publisher, the Commodity Futures Trading Commission (CFTC), have had a lot of press since Steve wrote his book a year ago. Much of this centered on the role of commodity index traders in the futures markets.

Nobody outside the Commission knows more about the impact of this new breed of "commodity investor" than Steve, and the additional year of data released since his book was written means that Steve has a whole lot more information to report.

One common question is whether the CFTC has ruined the usefulness of the COT report by combining commodity index traders in the commodity hedger category. The answer is no, the report is as useful as ever. If you have been taking Steve's weekly Bullish Review newsletter you already know this. But at the seminar you will learn why.

1998 Oil Forecast

Steve's 1998 seminars were titled "The Turning Point Tour", and were timed to coincide with the end of the commodity bear market and the beginning of a new bull markets. This is one of the actual charts from that seminar where attendees heard Steve predict:.

“major bottom in the oil complex due in December 1998 to be followed by a generational-type bull market.”

It may be difficult now to understand how incredulous this forecast sounded in 1998, when oil prices had fallen 74% over the previous eight years to nearly $10 per barrel, and the press was full of articles on why we were in an era of perpetually cheap energy, a far cry from today's "peak oil" stories. [I won't make you pull out your charts. Crude oil futures bottomed at $10.65 on Dec. 11, 1998].

But what has he done for you lately? Here's a phone message I took for Steve recently: "This is Roemer McPhee. Tell Steve for me that he is brilliant. He got it all right. Again. The stock market top last fall, the July commodity reversal, and now the dollar bottom. Just tell him 'thanks a million (in round numbers)'."

Steve is frequently asked for advise on choosing entry and exit points for special situations highlighted in the COT data. In 2002 he presented a Master Chart Trader seminar series that focused on trading off point and figure and weekly bar charts. By attending this year's seminar you will have a chance to buy the 2002 CD at a $300 savings. Discounted subscriptions to most of Steve's newsletters will also be available. Total discounts available could more than pay for your seminar fee!

This year's seminar is aimed at reviewing and expanding on the most important chapters of The Commitments of Traders Bible. If you want to know about the history of the report and how to read it, that is well detailed in the book. How to use the data, though? I don't think you can ever get enough examples and ideas. This is where the seminar will add value and bring the book to life.

Of particular importance will be the what has learned about the commodity index traders, who were quite a new phenomena when Steve wrote the book. The separate reporting of commodity indexers has been both enlightening and surprising, as well as beneficial to market analysis. You really should not be trading commodity futures without a real understanding of this new dimension in COT reporting. You won't find this info anywhere else, even in the COT Bible.

There isn't anything Steve enjoys more than meeting subscribers and relating his experience. But, frankly, seminars are hard work. Steve's hedge fund project and various newsletters don't leave a lot of time for traveling, so there are just six venues this year. Each has limited space, so if you want to attend, you should reserve your seat now. The seminar dates (all Saturdays 9:00am to 5:00pm) and sites are:

2008 Seminar Venues

Oct. 4 - Chicago Hyatt Regency O'Hare Airport 9300 W. Bryn Mawr Ave Rosemont, IL 60018	Oct 25 - New York Marriott Marquis 1535 Broadway New York, NY 10036 For this venue add $150
Oct 18 - Toronto Fairmont Royal York 100 Front St Toronto, ON CANADA Pay in Loonies!	Nov. 22 - LA/Orange County, CA Wyndham Hotel Orange County 3350 Avenue of the Arts Costa Mesa, CA

What will COT Master Seminar cost you? LESS than you probably risk on a single trade.

The seminar cost is $695 UNLESS:

If you sign up by September 30, 2008, you may deduct $150
If you are attending the New York seminar, please add $150. (Seminar costs in New York are way out line with every other venue. ( A box lunch costs $87!)

Seminar fee includes refreshments and a box lunch. You should make your own hotel and travel arrangements, which are not included.

Just how good is this COT data? Let's have a look at a long-term bull market. Let's look at one where the futures market is small potatos next to the FOREX market. Does the COT still work?

This is the youngest of the currencies we follow, replacing the Deutchemark on the IMM futures board in January 1999. In most ways, the euro has followed the well-established Deutchemark patterns in terms of COT net positions (along with cycles and other technical studies). We could not assume this at the time, however, and it took a couple of years to build enough data history to have confidence in COT signals. Until 2001, we successfully relied on signals in the Swiss franc, which traded pretty much in lockstep with the euro.

Our first reliable signal in the euro was published on July 16, 2001 (A). The minor buy signal in the euro was accompanied by a major buy signal in the Swissie. The fact that these signals occurred at a prior support level did not escape our attention:

“This is the first time during this bear market that Commercial buying has appeared at the
same price level as at the prior occurrence (last fall). This hints that fundamentals have quit slip-
ping in the franc. Traders should watch for confirmation of a potential major bottom”.

This was published just 6 days following the low of the failure swing bottom that triggered the ongoing 6.5 year bull market. In December 2001 we primed subscribers for what we expected to be a long-term trade:

“In a bull market, the longer you hang on, the higher the profits. We got you in very early in the trend and now encourage you to try to stay aboard for the long term. If you get knocked out by a protective stop, we will be watching for re-entry signals.”(B)

We were fortunate to find optimum rebuying points at key retracement lows in August 2003 (C) and April 2004 (D).

But what about the major buy signal in December 2004 (E)? Commercials were buying on a scale up, not at a corrective low. I dare guess that your casual Commitments analyst did not get this one right. Although the signal was unusual it did indicate a sudden change in large trader sentiment, leading us to expect a trend change. The Dec. 13, 2004 Bullish Review carried this advice:

"CURRENCIES NEW SPECIAL SITUATION: ...There are an unprecedented number of December contracts to close out or roll over by the last trading day on Friday Dec. 17. We expect major retracements of the 3.5-year trends will develop off this rollover, and would trade a breakout of last week's high in the dollar index or low in the euro (or other IMM foreign currency we cover)."

That retracement lasted exactly 12 months during which a single short IMM euro contract gained $25,000 (on a correction!). After an initial bout of selling, commercial buying appeared near the bottom of the correction. On Nov. 25, 2005, we noted trader extremes across the currency spectrum (F):

“With Commitments at such historic extremes, we suspect that this dollar bull move [euro pull back] has reached its probable limit. Since the next trend possibilities include a resumption in the dollar bear market, it seems reasonable to lock in long dollar profits. Yen net positions are at a 6.5-year extreme. Franc net positions are at a record extreme. Pound net positions are at 6-year extreme. Commercials are near net long record level in euro.

This was just five days ahead of the resumption of the bull trend that lasted two years and accumulated a $40,000 increase in each long euro contract. The COT Index took on a textbook bull market pattern during this uptrend, with nearly continuous bearish readings reflecting commercial scale up selling. Commercials did buy on corrections, however, providing us exceptionally timely buy signals at October 2006 (G) and August 2007 (H).

The euro appeared to run out of steam in November 2007, consolidating in a 3-month trading range. Was this THE top, or just a resting place in the euro bull market? Commercial buying and a major COT buy signal on February 11 (I) tipped us off to the next bull leg, which has so far accumulated per contract profits totaling $17,000:

“The proximity to the lower trading range boundary makes a low-risk long entry available, in anticipation of an imminent breakout above the upper boundary.” -2/1/2008 Bullish Review

What have we learned from this exercise?

COT signals are highly effective in the euro.
Play for the big move and try to stay aboard.
But major corrections cannot be ignored.
Bullish Review is an awesome newsletter.
All of the above.

A word from Steve:

I was 50 years old when I did the Turning Point Tour ten years ago. Do the math. At this rate, the opportunity to attend a future COT seminar is anything but a sure bet. There certainly are none planned. I hope I'll see you this fall.

Seminar attendees have come to expect a little bonus look at my proprietary long-term cycle work. You will not be disappointed this year.

My 100% iron-clad guarantee of satisfaction:

I absolutely guarantee you will be pleased with this seminar: If you do not feel you have gotten your money's worth by noon, just tell us. We'll refund your entire seminar fee, no questions asked.

I do NOT guarantee profits:

ALL TRADING INVOLVES HIGH RISK. THERE HAVE BEEN NO PROMISES, GUARANTEES OR WARRANTIES SUGGESTING THAT ATTENDING THIS SEMINAR OR EMPLOYING STRATEGIES DISCUSSED AT THIS SEMINAR WILL RESULT IN A PROFIT OR WILL NOT RESULT IN A LOSS. FUTURES TRADING HAS LARGE RISKS. YOU MUST BE AWARE OF THE RISKS AND BE WILLING TO ACCEPT THEM IN ORDER TO INVEST IN THE FUTURES MARKETS. DON'T TRADE WITH MONEY YOU CAN'T AFFORD TO LOSE. YOU SHOULD CAREFULLY CONSIDER WHETHER YOUR FINANCIAL CONDITION PERMITS YOU TO PARTICIPATE IN THE FUTURES INDUSTRY. IN SO DOING, YOU SHOULD BE AWARE THAT TRADING FUTURES AND OPTIONS ON FUTURES CAN QUICKLY LEAD TO LARGE LOSSES AS WELL AS GAINS. SUCH TRADING LOSSES CAN SHARPLY REDUCE THE VALUE OF YOUR ACCOUNT AND IT IS POSSIBLE TO LOSE MORE THAN YOUR ACCOUNT BALANCE. THIS IS NEITHER A SOLICITATION NOR AN OFFER TO BUY OR SELL FUTURES OR OPTIONS.
SEE ALSO: CFTC FRAUD ADVISORIES PAGE

Who should attend this seminar?

    * The COT report is essential information for futures, options, and forex traders. You are at a big disadvantage if you do not understand the weekly Commitments report.
    * Hedge fund and CTA manager, traders, and modelers often overlook or misused this data and would benefit by attending.
    * Certainly anyone responsible for hedging using futures, options, or related derivatives should be fully conversant with this critical report. Stock, fund and ETF traders can gain an edge by keeping up with Commitment's data in individual sectors as well as stock index futures.
    * Attendees of prior seminar will find this one more advanced and should add significantly to your knowledge base.
    * If you are new to trading or unfamiliar with futures, you should already have read "The Commitments Of Traders Bible," or you may have trouble keeping pace.

Haven't read the book yet?

The most important chapters of the book deal with how to analyze the Commitments of Traders report and apply it to your trading and investing. These are the chapters Steve will be highlighting and expanding on:

Chapter 4: Fading Small Speculators and other Half-Baked Schemes

    TIP: Always follow commercials.
    TIP: Net long is bullish; net short bearish.
    TIP: Always fade the small speculator.
    TIP: It is only logical to compare hedging to the seasonal average.
    TIP: The COT is old news by the time it is released.

Chapter 5: Net Positions

    Open interest
    Constructing net positions charts
    Large Speculator Patterns
    Commercial Patterns
    Small Trader Patterns
    Commodity Index Traders

Chapter 6: The COT Index

    Calculating the COT Index
    Alternative Look-back periods
    The COT Index as the Great Normalizer
    Interpreting the COT Index
    Heal Thyself

Chapter 7: COT Movement Index

    Commercial Movement Index
    40-Point COT Surge Rules (Commercials)
    Combining the Indexes
    Fund Movement Index

Chapter 10: Chart Pattern Validation

    A Brief Charting Primer
    Bottom Formations
    Top Formations
    Continuation Patterns

Chapter 11: Getting Technical.

    COT–Stochastics
    COT MACD–Histogram
    COT–RSI
    Standard deviation (Bollinger) bands

& here: www.BullishReview.com

A production of Insider Capital Group, 3181 Quietwater Lane, Gulf Breeze, FL 32563, Phone: 850-677-1966 Fax: 904-212-0247