10
THE MSR PRIMARY WAVE SYSTEM 212-422-8040 Over the years, the stock market has generated Major Secular Bull Markets. Examples: 1914-1929, 1949-1964 and 1982-2000. The Buy-Hold strategy became dominant and mostly unquestioned. Consequently, many investors and asset managers were forced to give up much of their profits during the lengthy intervening secular corrections. The MSR Primary Wave System is designed to provide investors with a major alternative. It is applied here to the leading Emerging Market ETFs, from mid 2002 to early 2010: Brazil, India, China, and South Korea. The investment Signals are derived from a series of broad price wave components labeled A, B, C, D and E, mathematically measured to exist in most US and Global financial markets. The system protects capital when a broader price wave A or B is set to decline along with a shorter component. This permits substantially greater cumulative gains over time. Primary long Trades also require a “Resonance Principle” which often leads to a high percentage of successful trades of extended duration. Long Term Total Returns Substantial Capital Protection APPLIED TO LEADING EMERGING MARKET ETFS

THE MSR PRIMARY WAVE SYSTEM

  • Upload
    dinah

  • View
    14

  • Download
    0

Embed Size (px)

DESCRIPTION

APPLIED TO LEADING EMERGING MARKET ETFS. THE MSR PRIMARY WAVE SYSTEM. Long Term Total Returns Substantial Capital Protection. Over the years, the stock market has generated Major Secular Bull Markets. Examples: 1914-1929, 1949-1964 and 1982-2000. - PowerPoint PPT Presentation

Citation preview

  • THE MSR PRIMARY WAVE SYSTEM 212-422-8040 Over the years, the stock market has generated Major Secular Bull Markets. Examples: 1914-1929, 1949-1964 and 1982-2000. The Buy-Hold strategy became dominant and mostly unquestioned.

    Consequently, many investors and asset managers were forced to give up much of their profits during the lengthy intervening secular corrections. The MSR Primary Wave System is designed to provide investors with a major alternative. It is applied here to the leading Emerging Market ETFs, from mid 2002 to early 2010: Brazil, India, China, and South Korea. The investment Signals are derived from a series of broad price wave components labeled A, B, C, D and E, mathematically measured to exist in most US and Global financial markets. The system protects capital when a broader price wave A or B is set to decline along with a shorter component. This permits substantially greater cumulative gains over time. Primary long Trades also require a Resonance Principle which often leads to a high percentage of successful trades of extended duration. Long Term Total Returns Substantial Capital ProtectionAPPLIED TO LEADING EMERGING MARKET ETFS

  • Dates are from initial Primary Wave signal in 2002. Dates are specified in tables to follow.

    Interest income and transaction costs are not included. 212-422-8040BrazilChinaIndiaSouth Korea

    Chart1

    480.41765.43479.36

    405.78841459.98

    80.3537.9878.2

    106456.9723.7

    Benchmark

    MSR Long Only

    MSR Long/Short

    Percent Appreciation

    MSR Primary Wave Trend Signals Applied to Emerging Market ETFs Trade Signals 2002 - January 2010

    from trades

    Long/Shortfrom Trades

    BrazilIndiaChinaKorea

    ETFETFETFETF

    Benchmark480.4405.780.3106

    MSR Long Only1765.4884537.9456.9

    MSR Long/Short3479.361459.98878.2723.7

    iShares MSCIBOMBAY SeSHANGHAI SeiShares MSCI

    BRAZIL ETFSENSEX INDEXCOMPOSITESouth Korea ETF

    Benchmark480.4405.780.3106.0

    MSR Long Only1765.4884.0537.9456.9

    MSR Long/Short3479.41460.0878.2723.7

    from trades

    Benchmark

    MSR Long Only

    MSR Long/Short

    Percent Appreciation

    MSR Primary Wave Trend Signals Applied to Emerging Market ETFs Trade Signals 2002 - January 2010

    from trades

    Long/Shortfrom Trades

    BrazilIndiaChinaKorea

    ETFETFETFETF

    Benchmark480.4405.780.3106

    MSR Long Only1765.4884537.9456.9

    MSR Long/Short3479.361459.98878.2723.7

    iShares MSCIBOMBAY SeSHANGHAI SeiShares MSCI

    BRAZIL ETFSENSEX INDEXCOMPOSITESouth Korea ETF

    Benchmark480.4405.780.3106.0

    MSR Long Only1765.4884.0537.9456.9

    MSR Long/Short3479.41460.0878.2723.7

    from trades

    Benchmark

    MSR Long Only

    MSR Long/Short

    Percent Appreciation

    MSR Primary Wave Trend Signals Applied to Emerging Market ETFs Trade Signals 2002 - January 2010

  • 212-422-8040

    BRAZIL ETF

    Ishares MSCI BRAZIL ETF EWZ

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID05100211.711025027.09-39.50.00-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.3122.334.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.2411.6236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.91004.6609.3E+ACm+B-Bm-

    AVOID07030883.0602060940.25-51.51004.6243.7B-Bm-C+Bm+

    LONG02060940.2501221067.9768.91765.4480.4C+Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT05100211.711025027.0939.4539.45-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.28209.9834.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.16613.47236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.911440.44609.3E+ACm+B-Bm-

    SHORT09050864.502060940.2537.602019.60243.7E-AB-C+Bm+

    LONG02060940.2501221067.9768.873479.36480.4C+Bm+C-Bm-

    INDIA INDEX

    BOMBAY Se SENSEX INDEX(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0517023333.761108022956.84-11.30.00-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.41.4-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.880.263.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3262.8224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.0462.3420.4D+Bl+C-Bm-

    AVOID02220817349.070213099634.74-44.5462.3189.0C-Bm-C+ Bm+

    LONG0213099634.7401221016859.6875.0884.0405.7C+ Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7-YEARS

    SHORT0517023333.761108022956.8411.3111.31-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.3912.85-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.75100.5963.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3303.78224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.01525.88420.4D+Bl+C-Bm-

    SHORT05090816737.070213099634.7442.43791.48189.0E- A-B-C+ Bm+

    LONG0213099634.7401221016859.6874.991459.98405.7C+ Bm+C-Bm-

    CHINA INDEX

    SHANGHAI SE COMPOSITE(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0906021631.380117031478.68-9.40.00-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.91.9-7.6D+Am+C-Al-

    AVOID0718031507.161212031470.79-2.41.9-9.8C- Al-B+D+

    LONG1212031470.790521041558.336.08.0-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.34.5-24.8D+Bm+C-Al-

    AVOID0318051227.400923051151.98-6.14.5-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.3331.8191.9C+B+C-Bm-

    AVOID0222084761.690123091990.66-58.2331.822.0C-Bm-C+ Bm+

    LONG0123091990.660201102941.3647.8537.980.3C+ Bm+B-C-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT0906021631.380117031478.689.369.36-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.9311.47-7.6D+Am+C-Al-

    SHORT0718031507.161212031470.792.4114.16-9.8C-Al-B+D+

    LONG1212031470.790521041558.335.9518.10-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.314.23-24.8D+Bm+C-Al-

    SHORT0318051227.400923051151.986.1421.25-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.35372.16191.9C+B+C-Bm-

    SHORT0606083329.670123091990.6640.21562.0422.0E-AB-C+ Bm+

    LONG0123091990.660201102941.3647.76878.2280.3C+ Bm+B-C-

    S.KOREA ETF

    Ishares MSCI SOUTH KOREA ETF EWY

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID06210222.0611080219.90-9.80.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.1-6.1-15.3D+Am+

    LONG04170317.9204300425.8544.335.417.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.3111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.4205.2156.9C+A+D-Bl-

    AVOID01250856.6803130924.90-56.1205.212.9D-Bl-E+CBm+

    LONG03130924.9001291045.4482.5456.9106.0E+CBm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    AVOID06210222.0611080219.900.000.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.13-6.13-15.3D+Am+

    LONG04170317.9204300425.8544.2535.4117.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.28111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.42205.17156.9C+A+D-Bl-

    SHORT03130956.6802060929.5347.90351.3533.9D-Bl-C+ Bm+

    LONG03130924.9001291045.4482.49723.67106.0E+CBm+C-Bm-

    BRAZIL CHART

    INDIA CHART

    CHINA CHART

    S.KOREA CHART

    MBD000743FC.unknown

    MBD001D5EB1.unknown

    MBD00069DD2.unknown

    MBD0006E4D5.unknown

  • 212-422-8040Brazil ETF

    ETF Benchmark 480.4 %MSR Long Only 1765.4 %MSR Long Short 3479.4 %

  • 212-422-8040* To determine past record for India. Going forward, trade ETFs (INP) iPath MSCI India Index ETN or (PIN) PowerShares India Portfolio ETF.*

    BRAZIL ETF

    Ishares MSCI BRAZIL ETF EWZ

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID05100211.711025027.09-39.50.00-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.3122.334.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.2411.6236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.91004.6609.3E+ACm+B-Bm-

    AVOID07030883.0602060940.25-51.51004.6243.7B-Bm-C+Bm+

    LONG02060940.2501221067.9768.91765.4480.4C+Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT05100211.711025027.0939.4539.45-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.28209.9834.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.16613.47236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.911440.44609.3E+ACm+B-Bm-

    SHORT09050864.502060940.2537.602019.60243.7E-AB-C+Bm+

    LONG02060940.2501221067.9768.873479.36480.4C+Bm+C-Bm-

    INDIA INDEX

    BOMBAY Se SENSEX INDEX(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0517023333.761108022956.84-11.30.00-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.41.4-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.880.263.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3262.8224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.0462.3420.4D+Bl+C-Bm-

    AVOID02220817349.070213099634.74-44.5462.3189.0C-Bm-C+ Bm+

    LONG0213099634.7401221016859.6875.0884.0405.7C+ Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7-YEARS

    SHORT0517023333.761108022956.8411.3111.31-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.3912.85-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.75100.5963.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3303.78224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.01525.88420.4D+Bl+C-Bm-

    SHORT05090816737.070213099634.7442.43791.48189.0E- A-B-C+ Bm+

    LONG0213099634.7401221016859.6874.991459.98405.7C+ Bm+C-Bm-

    CHINA INDEX

    SHANGHAI SE COMPOSITE(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0906021631.380117031478.68-9.40.00-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.91.9-7.6D+Am+C-Al-

    AVOID0718031507.161212031470.79-2.41.9-9.8C- Al-B+D+

    LONG1212031470.790521041558.336.08.0-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.34.5-24.8D+Bm+C-Al-

    AVOID0318051227.400923051151.98-6.14.5-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.3331.8191.9C+B+C-Bm-

    AVOID0222084761.690123091990.66-58.2331.822.0C-Bm-C+ Bm+

    LONG0123091990.660201102941.3647.8537.980.3C+ Bm+B-C-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT0906021631.380117031478.689.369.36-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.9311.47-7.6D+Am+C-Al-

    SHORT0718031507.161212031470.792.4114.16-9.8C-Al-B+D+

    LONG1212031470.790521041558.335.9518.10-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.314.23-24.8D+Bm+C-Al-

    SHORT0318051227.400923051151.986.1421.25-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.35372.16191.9C+B+C-Bm-

    SHORT0606083329.670123091990.6640.21562.0422.0E-AB-C+ Bm+

    LONG0123091990.660201102941.3647.76878.2280.3C+ Bm+B-C-

    S.KOREA ETF

    Ishares MSCI SOUTH KOREA ETF EWY

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID06210222.0611080219.90-9.80.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.1-6.1-15.3D+Am+

    LONG04170317.9204300425.8544.335.417.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.3111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.4205.2156.9C+A+D-Bl-

    AVOID01250856.6803130924.90-56.1205.212.9D-Bl-E+CBm+

    LONG03130924.9001291045.4482.5456.9106.0E+CBm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    AVOID06210222.0611080219.900.000.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.13-6.13-15.3D+Am+

    LONG04170317.9204300425.8544.2535.4117.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.28111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.42205.17156.9C+A+D-Bl-

    SHORT03130956.6802060929.5347.90351.3533.9D-Bl-C+ Bm+

    LONG03130924.9001291045.4482.49723.67106.0E+CBm+C-Bm-

    BRAZIL CHART

    INDIA CHART

    CHINA CHART

    S.KOREA CHART

    MBD0006E4D5.unknown

    MBD001D5EB1.unknown

    MBD000743FC.unknown

    MBD00069DD2.unknown

  • 212-422-8040Bombay Se Sensex Index

    ETF Benchmark 405.7 %MSR Long Only 884.0 %MSR Long Short 14560.0 %

  • 212-422-8040 To determine past record for China. Going forward, trade ETFs (FCHI) iShares FTSE China (HK Listed) Index Fund or (FXI) iShares FTSE/Xinhua China 25 Index Fund ETF.*

    BRAZIL ETF

    Ishares MSCI BRAZIL ETF EWZ

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID05100211.711025027.09-39.50.00-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.3122.334.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.2411.6236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.91004.6609.3E+ACm+B-Bm-

    AVOID07030883.0602060940.25-51.51004.6243.7B-Bm-C+Bm+

    LONG02060940.2501221067.9768.91765.4480.4C+Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT05100211.711025027.0939.4539.45-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.28209.9834.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.16613.47236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.911440.44609.3E+ACm+B-Bm-

    SHORT09050864.502060940.2537.602019.60243.7E-AB-C+Bm+

    LONG02060940.2501221067.9768.873479.36480.4C+Bm+C-Bm-

    INDIA INDEX

    BOMBAY Se SENSEX INDEX(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0517023333.761108022956.84-11.30.00-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.41.4-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.880.263.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3262.8224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.0462.3420.4D+Bl+C-Bm-

    AVOID02220817349.070213099634.74-44.5462.3189.0C-Bm-C+ Bm+

    LONG0213099634.7401221016859.6875.0884.0405.7C+ Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7-YEARS

    SHORT0517023333.761108022956.8411.3111.31-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.3912.85-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.75100.5963.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3303.78224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.01525.88420.4D+Bl+C-Bm-

    SHORT05090816737.070213099634.7442.43791.48189.0E- A-B-C+ Bm+

    LONG0213099634.7401221016859.6874.991459.98405.7C+ Bm+C-Bm-

    CHINA INDEX

    SHANGHAI SE COMPOSITE(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0906021631.380117031478.68-9.40.00-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.91.9-7.6D+Am+C-Al-

    AVOID0718031507.161212031470.79-2.41.9-9.8C- Al-B+D+

    LONG1212031470.790521041558.336.08.0-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.34.5-24.8D+Bm+C-Al-

    AVOID0318051227.400923051151.98-6.14.5-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.3331.8191.9C+B+C-Bm-

    AVOID0222084761.690123091990.66-58.2331.822.0C-Bm-C+ Bm+

    LONG0123091990.660201102941.3647.8537.980.3C+ Bm+B-C-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT0906021631.380117031478.689.369.36-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.9311.47-7.6D+Am+C-Al-

    SHORT0718031507.161212031470.792.4114.16-9.8C-Al-B+D+

    LONG1212031470.790521041558.335.9518.10-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.314.23-24.8D+Bm+C-Al-

    SHORT0318051227.400923051151.986.1421.25-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.35372.16191.9C+B+C-Bm-

    SHORT0606083329.670123091990.6640.21562.0422.0E-AB-C+ Bm+

    LONG0123091990.660201102941.3647.76878.2280.3C+ Bm+B-C-

    S.KOREA ETF

    Ishares MSCI SOUTH KOREA ETF EWY

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID06210222.0611080219.90-9.80.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.1-6.1-15.3D+Am+

    LONG04170317.9204300425.8544.335.417.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.3111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.4205.2156.9C+A+D-Bl-

    AVOID01250856.6803130924.90-56.1205.212.9D-Bl-E+CBm+

    LONG03130924.9001291045.4482.5456.9106.0E+CBm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    AVOID06210222.0611080219.900.000.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.13-6.13-15.3D+Am+

    LONG04170317.9204300425.8544.2535.4117.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.28111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.42205.17156.9C+A+D-Bl-

    SHORT03130956.6802060929.5347.90351.3533.9D-Bl-C+ Bm+

    LONG03130924.9001291045.4482.49723.67106.0E+CBm+C-Bm-

    BRAZIL CHART

    INDIA CHART

    CHINA CHART

    S.KOREA CHART

    MBD000743FC.unknown

    MBD001D5EB1.unknown

    MBD00069DD2.unknown

    MBD0006E4D5.unknown

  • 212-422-8040Shanghai Se Composite

    ETF Benchmark 80.3 %MSR Long Only 537.9 %MSR Long Short 878.2 %

  • 212-422-8040

    BRAZIL ETF

    Ishares MSCI BRAZIL ETF EWZ

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID05100211.711025027.09-39.50.00-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.3122.334.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.2411.6236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.91004.6609.3E+ACm+B-Bm-

    AVOID07030883.0602060940.25-51.51004.6243.7B-Bm-C+Bm+

    LONG02060940.2501221067.9768.91765.4480.4C+Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT05100211.711025027.0939.4539.45-39.5C- Al-D+Am+

    LONG1025027.0903260415.76122.28209.9834.6D+Am+C- Bm-

    LONG08200417.1405190639.45130.16613.47236.9C+ A+C- Bm-

    LONG09220638.4707030883.06115.911440.44609.3E+ACm+B-Bm-

    SHORT09050864.502060940.2537.602019.60243.7E-AB-C+Bm+

    LONG02060940.2501221067.9768.873479.36480.4C+Bm+C-Bm-

    INDIA INDEX

    BOMBAY Se SENSEX INDEX(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0517023333.761108022956.84-11.30.00-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.41.4-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.880.263.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3262.8224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.0462.3420.4D+Bl+C-Bm-

    AVOID02220817349.070213099634.74-44.5462.3189.0C-Bm-C+ Bm+

    LONG0213099634.7401221016859.6875.0884.0405.7C+ Bm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7-YEARS

    SHORT0517023333.761108022956.8411.3111.31-11.3C- Al-E+ Acm+

    LONG1108022956.840411032997.871.3912.85-10.1E+ Acm+C-B-

    LONG0516033056.580319045433.1477.75100.5963.0D+ Am+C-Bm-

    LONG0910045370.0105260610809.35101.3303.78224.2C+A+C-Bm-

    LONG08110611192.4602220817349.0755.01525.88420.4D+Bl+C-Bm-

    SHORT05090816737.070213099634.7442.43791.48189.0E- A-B-C+ Bm+

    LONG0213099634.7401221016859.6874.991459.98405.7C+ Bm+C-Bm-

    CHINA INDEX

    SHANGHAI SE COMPOSITE(Trade recent ETF Proxy)

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID0906021631.380117031478.68-9.40.00-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.91.9-7.6D+Am+C-Al-

    AVOID0718031507.161212031470.79-2.41.9-9.8C- Al-B+D+

    LONG1212031470.790521041558.336.08.0-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.34.5-24.8D+Bm+C-Al-

    AVOID0318051227.400923051151.98-6.14.5-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.3331.8191.9C+B+C-Bm-

    AVOID0222084761.690123091990.66-58.2331.822.0C-Bm-C+ Bm+

    LONG0123091990.660201102941.3647.8537.980.3C+ Bm+B-C-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    SHORT0906021631.380117031478.689.369.36-9.4C- Al-D+Am+

    LONG0117031478.680718031507.161.9311.47-7.6D+Am+C-Al-

    SHORT0718031507.161212031470.792.4114.16-9.8C-Al-B+D+

    LONG1212031470.790521041558.335.9518.10-4.5B+D+C-Bm-

    LONG0211051269.000318051227.40-3.314.23-24.8D+Bm+C-Al-

    SHORT0318051227.400923051151.986.1421.25-29.4C- Al-C+B+

    LONG0923051151.980222084761.69313.35372.16191.9C+B+C-Bm-

    SHORT0606083329.670123091990.6640.21562.0422.0E-AB-C+ Bm+

    LONG0123091990.660201102941.3647.76878.2280.3C+ Bm+B-C-

    S.KOREA ETF

    Ishares MSCI SOUTH KOREA ETF EWY

    MSE PRIMARY WAVE TREND SIGNALSMC = Market Cyclical

    LONG ONLY CUMULATIVE

    Cumulative

    Initial DatePriceFinal DatePrice% ChangeMSRBuy-HoldWave Signals

    AVOID06210222.0611080219.90-9.80.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.1-6.1-15.3D+Am+

    LONG04170317.9204300425.8544.335.417.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.3111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.4205.2156.9C+A+D-Bl-

    AVOID01250856.6803130924.90-56.1205.212.9D-Bl-E+CBm+

    LONG03130924.9001291045.4482.5456.9106.0E+CBm+C-Bm-

    CUMULATIVE BASIC LONG/SHORT SYSTEMS7.5-YEARS

    AVOID06210222.0611080219.900.000.00-9.8C-Bm-D+Am+

    LONG11080219.90011703*18.68-6.13-6.13-15.3D+Am+

    LONG04170317.9204300425.8544.2535.4117.2D+ Am+C-Bm-

    LONG09100425.2805260646.5484.1149.28111.0C+Al+C-Bm-

    LONG09220646.3001250856.6822.42205.17156.9C+A+D-Bl-

    SHORT03130956.6802060929.5347.90351.3533.9D-Bl-C+ Bm+

    LONG03130924.9001291045.4482.49723.67106.0E+CBm+C-Bm-

    BRAZIL CHART

    INDIA CHART

    CHINA CHART

    S.KOREA CHART

    MBD000743FC.unknown

    MBD001D5EB1.unknown

    MBD00069DD2.unknown

    MBD0006E4D5.unknown

  • 212-422-8040iShares MSCI South Korea ETF

    ETF Benchmark 106.0 %MSR Long Only 456.9 %MSR Long Short 723.7 %