BAVARIA FIRST INVESTMENT

<html>
		<head>
		<title>Recommendation - 2008-11-04</title>
		<style type="text/css">
			body  {    margin: 50px;    padding: 0;    font-family: Verdana, Arial, Helvetica, sans-serif;    font-size: 12px; color: #444;   }
			p     {    margin: 0;    padding: 0; }
			table {    margin: 0;    padding: 0;  border-collapse: collapse;	}
			td	  {    padding:0;	 vertical-align:top;		}
			h1 {	font-size: 24px;	margin:10px 0 10px 0;	font-family: Arial, Helvetica, sans-serif; }
			h1 small {	font-size: 14px; }
			h2 {	font-size: 18px;	margin:5px 0 5px 0; 	font-family: Arial, Helvetica, sans-serif; }
			h3 {	font-size: 16px;	margin:3px 0 3px 0; 	font-family: Arial, Helvetica, sans-serif; }
		  .bfi              { background-color:#a0a0a0; color:#fff; width:100%; }
		  .bfi td, th       { padding:10px 5px 10px 5px; border:1px solid #fff;}
		  .bfi th           { font-weight:bold; }
		  .bfi tr.header    { font-weight:bold; }
		  .bfi .darker      { background-color:#5c5c5c; } 
		  .bfi .lighter     { background-color:#c2c2c2; }
		  .footer			{ margin: 2em 0; text-align: center; font-weight: bold; }
		  p.header			{ height: 71px; background-image: url('http://bavariafund.com/images/header_logo.png');background-repeat: no-repeat; }
		  p.law				{ font-size: 0.8em; text-align: justify; margin: 1em 0;}
		</style>
		</head>
		<body>
		<p class="header"></p><h1>Recommendation - 2008-11-04 <small>13:29</small></h1><h2>Monthly summary -&nbsp;OCTOBER 2008*</h2><table border="0" class="bfi"><tbody><tr class="header"><th style="width: 60px">Week</th><th style="width: 140px">Date</th><th style="width: 60px">Cross</th><th>Profit (pips)</th><th>Total</th></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">18</td><td rowspan="4" style="vertical-align: middle; text-align: center">1.10-10.10.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;2054</td><td rowspan="4">4464&nbsp;</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;846</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;1553</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;11</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">19</td><td rowspan="4" style="vertical-align: middle; text-align: center">13.10-17.10.2008</td><td style="text-align: center">&nbsp;EURUSD</td><td>&nbsp;634</td><td rowspan="4">&nbsp;1183</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;506</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;43</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;0</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">20</td><td rowspan="4" style="vertical-align: middle; text-align: center">20.10-24.10.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;727</td><td rowspan="4">&nbsp;1508</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;452</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;104</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;225</td></tr><tr><td rowspan="4" style="vertical-align: middle; text-align: center">21</td><td rowspan="4" style="vertical-align: middle; text-align: center">27.10-31.10.2008</td><td style="text-align: center">EURUSD</td><td>&nbsp;876</td><td rowspan="4">&nbsp;1200</td></tr><tr><td style="text-align: center">GBPUSD</td><td>&nbsp;267</td></tr><tr><td style="text-align: center">USDJPY</td><td>&nbsp;0</td></tr><tr><td style="text-align: center">USDCHF</td><td>&nbsp;57</td></tr></tbody></table><br />* These results have been achived using strategies based on our currency market commentaries. <p class="law">The Recommendations are estimated with our best knowledge and diligence. We accept no responsibility for the accuracy or completeness of any information here in contained nor for any forecasts or recommendations. We shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by us that you will profit from the strategies herein or that your losses in connection therewith can or will be limited. Stops may not necessarily limit losses to intended levels.</p>
					<p class="footer">Bavaria First Investment Ltd. All rights reserved.</p></body></html>

Monthly summary - OCTOBER 2008*

Week	Date	Cross	Profit (pips)	Total
18	1.10-10.10.2008	EURUSD	2054	4464
		GBPUSD	846
		USDJPY	1553
		USDCHF	11
19	13.10-17.10.2008	EURUSD	634	1183
		GBPUSD	506
		USDJPY	43
		USDCHF	0
20	20.10-24.10.2008	EURUSD	727	1508
		GBPUSD	452
		USDJPY	104
		USDCHF	225
21	27.10-31.10.2008	EURUSD	876	1200
		GBPUSD	267
		USDJPY	0
		USDCHF	57

* These results have been achived using strategies based on our currency market commentaries.

BAVARIA FIRST INVESTMENT

Monthly summary - OCTOBER 2008*

Previous reports

Calendar

Agencja interaktywna