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Issue #524 
Apr 23, 2017 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Earnings Quarter to be Deciding Factor over the Next 7 days. Seasonal Correction in View.
DOW Friday closing price - 20547
The DOW generated a positive reversal week, having made a new 9-week low and then closing in the green and near the high of the week, suggesting further upside above last week's high at 20,644 will be seen this week. In addition and if the index goes above last week's high, a double low at 20,412 and 20,379 will be built, which could give the bulls enough ammunition to attempt a retest of the all-time high at 21,169, if and when the earnings reports support such a rally.
The DOW will be in the spotlight this week as 11 of the companies in the index report earnings (BA, CAT, CVX, DD, KO, INTC, MCD, MMM, MSFT, UTX, and XOM). So far the 7 companies having reported (AXP, GS, JNJ, JPM, TRV, V and VZ) have not "moved the needle" very much but with 66% of all the companies in the index reporting earnings by the end of the this week, it is likely direction for the next couple of months could come of it. By the same token, the AAPL earnings report is still the most important and that is not scheduled to come out until Tuesday May 2nd after the close.
To the upside and on an intra-week basis, the DOW now shows very minor resistance at 20,601 and at 20.644, minor at 20,753 to perhaps decent resistance at 20750/20,753, and decent as well as short-term pivotal at 20,887. Above that level, there is minor to decent resistance at 21000 and decent at 21169.
To the downside and on an intra-week basis, the DOW now shows very minor support at 20,453 and decent between 20,379 and 20.379. Below that level, there is nothing until the 20000 demilitarized zone (19970-20030) is reached. Further support is found at 19831 and minor to perhaps decent as well as pivotal at 19784.
For the past month (21 trading days to be exact), the DOW has been mostly directionless but with a slight bearish bias. The bulls were waiting for the earnings reports to help but so far they have not helped much, and those that are scheduled for this week are not likely to be so much better than expected to help the bulls restart the uptrend.
The DOW is now showing clearly defined support and resistance levels that if broken would likely push the index up or down another 300-400 points. To the upside, the 20,887 level is resistance, though the 20,753 level if broken might give the bulls enough ammunition to break the higher one as well. To the downside, the 20,379/20,412 area is support that if broken, especially after the earnings reports, would suggest the 20,000 level will be visited.
The probabilities still favor the bears in the DOW as the onus remains on the shoulders of the bulls and the earnings reports and those have not been coming in better than expected and certainly not "much better" than expected, which is what is needed to break resistance. This coming week is likely to have a slight bullish bias because of the double low and the fact that none of the earnings reports are likely to be catalytic, or at least bad enough to be catalytic. As such, it seems likely that the index will enjoy a rally week with probably the 20,753 level as the upside objective. The following week though, it is all likely to be about the AAPL earnings report on Tuesday, as far as whether further upside will be seen or not.
SPX Friday closing price - 2328
The SPX generated an inside week and a green weekly close that negated the previous week's fall and close on the lows of the week. Nonetheless, the bulls were unable to break any resistance levels above and having closed slightly (1 point) above the midpoint of the week's trading range, it does suggest the index does not have any direction for this week and will follow whatever the other indexes do. Simply stated, the index is likely to be a follower and not a leader this week.
Most of the important earnings reports in the SPX have now come out and with no big surprises, especially in the "better than expected" category, the traders will likely be looking elsewhere to direction.
To the upside and on an intra-week basis, the SPX now shows very minor resistance at 2361, minor at 2370 and minor to perhaps decent as well as short-term pivotal at 2378. Further resistance is found at 2390 and at 2400.
To the downside and on an intra-week basis, the SPX now shows minor support at 2336, minor to perhaps decent at 2328 and decent as well as short-term pivotal at 2322. Below that level, there is no support until minor support at 2285 and likely short-term pivotal at 2267/2271. On a daily closing basis though, important support will be found at 2298.
The SPX now shows a bearish 3-point downtrend line that is presently at 2369. The 3 points on the line are all spikes at 2400, at 2390, and at 2378, meaning the trend line is valid. With the index having closed just slightly above the midpoint of the week's trading range, the chart suggests that last week's high at 2361 will be broken this week but that much further upside is not likely to be seen unless there are unexpected bullish surprises in the earnings reports (not expected). As such and for the next 7 trading days (1 week and a half), the index is likely to trade between 2339 and 2369 without much longer term direction given.
NASDAQ Friday closing price - 5910
The NASDAQ was the strong index this week, having gotten up close to the all-time high at 5936 (rallied to 5926), having generated a new all-time daily closing high at 5916 (above the previous one at 5914), and having rallied more than the other 2 indexes (rallied 1.8% compared to the SPX at .9% and the DOW at .5%). Nonetheless, when it was all said and done, the bulls still were unable to make a statement of consequence as more was/is needed.
The NASDAQ closed near the highs of the week and further upside above last week's high at 5926 is expected to be seen. Nonetheless, having failed to make a new all-time intra-week or weekly closing high this past week and the new all-time daily closing high seen on Thursday having failed to be confirmed with a close on Friday below 5914, it is evident that the bulls will need additional help this week to go much further to the upside.
The NASDAQ will again be the index most closely watched by the traders this week, given that AMZN and GOOGL report earnings on Thursday after the close and those 2 stocks are part of the 5 that are always considered possibly catalytic to the market. With NFLX having reported last week and not heading higher, the traders will be looking at those 2 stocks this week for clues as to whether another leg up is possible or not.
To the upside and on an intra-week basis, the NASDAQ now minor to decent resistance at 59.26/5928 and decent at the all-time high at 5936. Above that level, there is psychological resistance at the 6000 demilitarized zone.
To the downside and on an intra-week basis, the NASDAQ now shows minor support at 5855, minor at 5819 and minor to decent as well as short-term pivotal at 59=800/5805. Below that level, there is minor support at 5781 and decent as well as pivotal at 5769.
The big reports in the NASDAQ (AMZN and GOOGL) are not scheduled until Thursday after the close, meaning that since the bulls failed at the end of the week to make new all-time highs, there is likely to be more selling than buying at the beginning of the week. It is possible that a rally above last week's high at 5926 will be seen at the beginning of the week since the close near the high of the week suggests that the index at some point will go above last week's high. Nonetheless, it is going to be extremely difficult for the bulls to make a new all-time high before the earnings reports come out on Thursday.
In looking at the NASDAQ chart, the 5855 level is going to be important short-term support as a break of that level would likely push the index down to 5819 and if the index gets down that low, the bulls will have a tougher time getting back above 5926 even if the earnings reports are better than expected. As such, I expect 5855 to be seen early in the week but not get broken.
The NASDAQ will be the key to all this week but not at the beginning of the week where the DOW is likely to be the one watched. Once again though, the onus is on the shoulders of the bulls and slightly better than expected earnings are not likely to "get it done". With earnings in general coming in as expected (or lower) and the index trading at a level of resistance that has proven to be decent to perhaps strong over the past 6 weeks, the probability favors the bears for a lower close next Friday.
The bears failed to make a statement this past week as they were unable to generate follow through off of the weakness seen the previous week. Once again, the first 3 weeks of the earnings quarter are proving to be supportive to the market, especially since there has not yet been enough reports to give a general consensus of whether earnings are better, the same, or worse. Nonetheless, the next 7 trading days will prove to be pivotal as AMZN, AAPL, GOOGL, and FB will all report earnings.
It does need to be mentioned that there has been an established and long-standing seasonal tendency for a strong correction to start after either the first or second quarter reports are out. The summer is usually a period of time where demand for products ease and the indexes in the past have seen corrections start no later than the beginning of May, suggesting that the probabilities will favor the bears for the next couple of months.
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Stock Analysis/Evaluation
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CHART Outlooks
The first 3 weeks of the earnings quarter will end on May 2nd when AAPL and FB report. So far, earnings have not surprised to the upside as in other years and with the summer ahead and a strong seasonal tendency for a correction to occur, probabilities now favor the bears.
In addition, the market rallied strongly at the end of last year and beginning of this year based on expectations that Trump would be beneficial to the market. So far, that has not been the case and with the bulls now keying on Tax Reform as the basis for keeping this rally alive and Congress not even likely to vote on anything like that until August at the very earliest, there seems to be no reason to think the seasonal tendency for a correction will not occur this year. As such, most of the mentions this week will be sales.
SALES
GE Friday Closing Price - 29.55
GE is a conservative sale given that the stock does not have a tendency for volatility or large movements in price. Nonetheless, the company reported earnings on Friday and though they were better than expected the stock reacted negatively, having fallen 3% from the highs of the day to close in the red and on the lows of the day, suggesting further downside below Friday's lows at 29.45 will be seen on Monday.
GE has more than quintupled in price since 2009 but has not been able to make any further gains to the upside since July of last year and given the reaction to the earnings report, it does seem to be a good short at this time.
GE made a 9-year high in July of last year at 33.00 and that high was tested successfully in December with a rally up to 32.34. In addition and probably more importantly, the stock has built a Head & Shoulders formation over the past year with the left shoulder at 32.05, the Head at 33.00 and the right shoulder at 32.34. The neckline is presently at 28.85 and a break of that line would offer an objective of 24.04. In addition, the stock has also built a bearish inverted flag formation with the flagpole being the drop from 32.38 to 29.26 and the flag being the trading range between 29.26 and 30.59 seen the last 13 weeks. A break of the bottom of the flag would offer a downside objective of 27.47 within 7 weeks of the flag being broken, with the expectation of that happening within the next 7 trading days.
Adding to the attractiveness of the short trade, is the disappointing reaction to the better than expected earnings, suggesting that the traders are not looking for GE to make new all-time highs anytime soon.
To the upside and on an intra-week basis, GE shows minor resistance at 30.04, minor to perhaps decent at 30.43 and decent at 20.54/30.59 that includes the 200-day MA, currently at 30.50. Above that level, there is no resistance until the 31.00-31.22 level is reached.
To the downside and on an intra-week basis, GE shows minor support at 29.31 and decent at the double low at 29.26/29.25. Below that level, there is minor to perhaps decent support at 29.06 and then nothing until decent support is reached at 28.19. Further support is found at 27.10, at 26.22 and then at 24.26, which is the maximum possible downside objective of the mention.
GE's big question mark is whether the 200-week MA, currently at 27.60 will be broken or not. The line has not been broken to the downside since December 2011. Nonetheless, the H&S formation, the Inverted Flag Formation, the inability of the bulls to renew the uptrend for the past 9 months, the amount of good support levels needed to be broken just to get to the line, as well as the seasonal correction that is likely to start next week, do give the bears a better than a 50-50 chance of the line breaking. If the line breaks, a drop down to 26.22 or even down to 24.26 becomes highly likely and possible. As it is, a drop down to the line if the desired entry point is reached, will still offer a 3-1 risk/reward ratio, meaning the trade is to be strongly considered even though it is a slow trade.
Sales of GE above 29.80 and using a stop loss at 30.64 and having an objective of 26.22 will offer a 5-1 risk/reward ratio.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
HAL Friday Closing Price - 47.06
HAL reports earnings on Monday before the opening bell and this mention will be somewhat dependent on how the stock reacts to the report (details below).
HAL has been under sell pressure since January when it reached a high of 58.78 and has since fallen 19.2% in value (based on the weekly closes), meaning the stock is on the verge of giving a bear trend signal if an additional $.50 cent drop in price is seen by next Friday. In addition to the close below the MA line, 4 previous intra-week supports dating back to September 2013 were also broken this past week, at 47.46, at 47.60, at 48.17 and including the most recent one at 47.06 that was seen in November of last year, meaning that the bulls have been unable to "stop the bleeding" and likely need some strong fundamental news to turn the mood around.
To the upside and on an intra-week basis, HAL shows resistance at 50.20/50.30 and pivotal at 51.25. Above that level, there is no resistance until 56.52-56.98 is reached.
To the downside and on an intra-week basis, HAL shows very minor support at 45.08 and then minor to perhaps decent between 41.48 and 41.70. Below that level, there is decent support at the $40 demilitarized zone, which will be the objective of the mention.
It is evident that the earnings report on Monday before the opening will have some effect on HAL but the bulls need more than "some effect" to turn the recent trend around. The bulls need to get above 51.25 to generate new buying interest as above that level there is no resistance until the $57 level is reached. The preferred scenario is for the earnings report to generate a rally back up near or to the $50 level and for a sale to occur then with a 51.35 stop loss and a $40 objective, meaning a 6-1 risk/reward ratio would be in place for the trade. If that does not happen, the trade will need to be re-evaluated on the spot and a new entry and stop loss point obtained before the trade is considered.
My rating on the trade is 3.25 (on a scale of 1-5 with 5 being the highest).
LVS Friday Closing Price - 57.38
LVS has been trading below the 200-week MA, currently at 58.50, since December (20 weeks) and has actually traded below the line for 109 of the last 117 weeks (2.33 years), meaning that in spite of the bull market in the indexes the stock has been mostly controlled by the bears.
LVS generated a spike up rally this past week and a close near the highs of the week, suggesting further upside above last week's high at 57.94 will be seen this week. The company reports earnings on Wednesday after the close and probably should not be considered tradeable until after the report.
LVS has been on an uptrend for the past 15 months, from a low at 34.88 to the high seen 3 weeks ago at 58.50 but the fact the stock and likely the index market will be facing a likely seasonal correction and that the 200-week MA has only been broken 8 times during the last 27 months and each time the break only lasted a couple of weeks, suggests this stock could be a strong sell for a fast drop over the next couple of months.
To the upside and on an intra-week basis, LVS shows decent resistance at 58.50, minor to perhaps decent at the $60 demilitarized zone, and minor again at 61.59. Above that level, there is decent and certainly pivotal resistance at 63.38 that is unlikely to be broken under the present market conditions.
To the downside and on an intra-week basis, LVS shows minor to perhaps decent support at 55.18 and at 54.71, and then minor to decent at 52.54 and decent as well as pivotal at 51.35. Below that level, there is support at 49.82, a bit stronger at 47.95 and then a vacuum until 44.07 is reached.
The best scenario for the trade is for the earnings report to come in better than expected and for LVS to generate a rally up to the 61.59 level where a short position would be instituted using a 63.48 stop loss and having a drop down to somewhere between $47 and $50 occur. It would offer at least a 6-1 risk/reward ratio with a probability rating likely higher than 4 (on a scale of 1-5 with 5 being the highest).
Nonetheless, for the most adventurous trader, a short position could be instituted on Monday above 57.92 and using a sensitive stop loss at 58.75 and hoping that the resistance and MA line at 58.50 do not get broken and that the earnings report will disappoint. Under this scenario, if stopped out, the other scenario mentioned above would then be used.
Either way, the probabilities do favor LVS heading lower for at least the next 2-3 months with the $50 level being a viable objective under either scenario.
My rating on the trade is a 4 (on a scale of 1-5 with 5 being the highest).
PURCHASES
FNSR Friday Closing Price - 22.53
FNSR was the mention I gave on the message board this week. This mention is valid at the desired entry price no matter if the indexes are heading into the seasonal correction or not. The stock supposedly has strong enough fundamentals and is presently considered not only oversold but undervalued as to be purchased at the desired entry point area under any market conditions.
Purchases on FNSR below 20.90 and using a 19.32 stop loss and having a $28-$29 objective will offer a 3-1 risk/reward ratio.
My rating on the trade is a 4 (on a scale of 1-5 with 5 being the highest).
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Updates
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| Updates on Held Stocks |
Closed Trades, Open Positions and Stop Loss Changes |
| ARNA made a new all-time low this week at 1.20 after it was announced the company was selling additional shares to raise money. The new low was only by 1 point, meaning that it is was not a conclusive break of support and if the bulls can rally the stock above last week's high at 1.48 this week that a double bottom at 1.21/1.20 will have been built. Nonetheless, the bears still have the edge as the bulls were not able to close in the upper half of the week's trading range, meaning that it has not yet been decided whether further downside will be seen or not. The bulls were able to "get into" the gap (between 1.42 and 1.29) created by the announcement with a rally on Friday up to 1.32 and a close near the highs of the day, suggesting the first course of action for the week will be to the upside. Nonetheless, the probabilities do not yet favor the bulls as there is still fear that the company will do a reverse split. Closure of the gap would be a strong positive but the probabilities favor the bulls failing to close the gap and a retest of the 1.20 low occurring at some point between now and the decision. For the time being, the best thing to do is to sit back and wait until the decision to do a reverse split or not comes out. A new low below 1.20 by more than 1 or 2 points would be a strong negative and suggest a drop down to 1.00 would be seen. CAT generated a positive reversal week, having gone below the previous week's low and then closing in the green. Nonetheless, the close was still in the lower half of the week's trading range, suggesting the probabilities favor the stock going below last week's low at 92.98 than above last week's high at 95.97. By the same token, direction for the week is likely to be made off of the earnings report that comes out on Tuesday morning. Based on the action seen this week, the traders are not expecting the earnings report to be beneficial to the stock. Likely pivotal resistance is found at 95.97, suggesting that the stop loss be lowered to 96.07. Support is found at 92.98, at 92.11, a bit stronger at 91.00 and decent at 90.41. The 200-day MA is currently at 89.55 and will be important if the earnings report is disappointing. Probabilities slightly favor the bears. CLF made a new 23-week low but the bears failed to close the breakaway gap between 6.33 and 6.63 that brought on the rally up to 12.37 and the break of the 200-week MA that had not been broken for 5 years. The breakaway gap remains important as closure of it would suggest the bulls will need new positive fundamentals even to attempt a retest of the line again. The stock dropped down to 6.66 on Tuesday and Wednesday but the bears failed to generate any new selling and the stock closed near the highs of the week, suggesting further upside above last week's high at 7.29 will be seen this week. The company reports earnings on Thursday AM and that is likely what will determine direction. Resistance is minor at 7.58, minor to decent at 7.84, which does include the 200-day MA, and decent as well as pivotal at 8.45. A break above 8.45 would be a short-term bullish statement, while a break below 6.63/6.66 would be bearish. Probabilities are about evenly matched and dependent on the earnings report. CNX continued to show weakness this week, having generated a second red weekly close in a row and near the lows of the week, suggesting further downside below last week's low at 15.17 will be seen this week. Pivotal intra-week support is found at 14.75 and weekly close support at 15.10. Minor but short-term pivotal resistance is found at 16.05 and then decent and longer term pivotal at 17.81. Company reports earnings on Tuesday May 2nd, suggesting that this week the stock is not likely to make any statement (either to the upside or downside). Chart suggests the stock will go below last week's low but not break 14.75 and likely rally up to 16.05 by the end of the week. ENG generated an uneventful week, having rallied back up to the 200-day and 200-week MA but not closing above them, meaning that this coming week is likely to be a short-term decision week. Evidently a red weekly close next Friday would give the bears additional ammunition to break the recent low at 1.45 and test the support at 1.28/1.31, but the same is true if a green weekly close occurs next Friday as it would give the bulls ammunition to test the 2.00/2.10 resistance level. The stock closed very slightly below the midpoint of the week's trading range, suggesting a higher probability of last week's low at 1.45 getting broken that last week's high at 1.74 getting broken. Given that the stock is in a short-term downtrend and the bulls were unable to negate the recent breaks of the MA lines, the probabilities favor the bears. FCEL generated an uneventful week, having traded in a narrow range between 1.45 and 1.65 all week. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 1.45 will be seen this week. Nonetheless, as long as the stock maintains itself above the 1.45 level on the weekly closing chart, the bulls will have a short-term edge. Intra-week support is found at 1.35 that if broken would suggest the all-time low at 1.25 will be tested. Resistance is found at 1.65 that if broken would suggest a retest of the recent high at 1.97 would be seen. Probabilities very slightly favor the bulls this week. FSLR generated an uneventful week but did go below last week's low, meaning that the buying interest seen the previous week did not help the bulls this week. The stock closed in the lower half of the week's trading range, suggesting further downside below last week's low at 26.41 is likely to be seen this week. On a small but possibly positive note, the stock generated green closes on Thursday and Friday, meaning that the selling interest was not strong last week. In addition, the minor support at 26.09 was not reached, suggesting it will be reached this week but could end up being the required retest of the recent 25.56 low. Minor intra-week resistance if found at 27.65 and minor to perhaps decent at the recent high at 28.24. Chart suggests that the stock is in a 3-5 week pause and that a rally up to 29.71 will end up occurring before the traders consider further downside. As such, the trading range this coming week could be something like 26.09 to 27.65 with a close next Friday near the highs of the week and further upside above 28.24 seen the week after. NFLX reported earnings this past week and generated a negative reversal week, having gone above the previous week's high and below the previous week's low and then closing in the red and slightly in the lower half of the week's trading range, suggesting further downside below last week's low at 138.66 will be seen this week. Nonetheless, the stock rallied on Thursday and Friday and closed on the highs of the day on Friday, suggesting the first course of action for the week will be to the upside and above Friday's high at 143.03. Minor to perhaps decent resistance is found at 143.46 that if broken would likely push the stock up to 144.49 and possibly up to 145.95. Traders are likely to "trade" the stock with either a 141.21 or 140.00 low until AMZN and GOOGL report earnings on Thursday and then decide on a direction which does favor the bears. A rally above 145.95 would be of concern to the bears. Support is found at 138.66 and pivotal at 137.03. Nothing of consequence is likely to happen before Friday and then it likely favors the bears. X generated a positive reversal week, having made a new 23-week low and then turning around and closing in the green and near the highs of the week, suggesting further upside above last week's high at 31.06 will be seen this week. On an additional positive note is that the 200-day MA, currently at 28.05, was tested successfully this past week. If the bulls can also generate a "confirmed" daily close above 31.33 this coming week, a failure to follow through signal will also be given, which in turn will give the bulls additional ammunition for higher prices. Intra-week support is now pivotal at 28.12. Intra-week resistance is very minor at 33.99 and decent as well as midterm pivotal between 34.75 and 34.93. Probabilities favor the bulls. XON generated a positive reversal week, having gone below the previous week's low and above the previous week's high and then closing in the green and near the highs of the week, suggesting further upside above last week's high at 20.44 will be seen this week. If the bulls are successful in going above last week's high, last week's low at 18.74 will become a successful retest of the double bottom at 18.52/18.44. The stock "technically" generated a buy signal on the daily closing chart, having closed on Thursday at 20.30 and above the previous high daily close for the past 5 weeks at 20.23. Unfortunately, the bulls were not able to confirm that buy signal on Friday when the stock closed at 20.17, which in turn was still below the minor weekly close resistance at 20.19. Nonetheless, it does seem that the bulls now have the edge (though small) and if able to get above last week's high will be further ammunition. A rally above the most recent intra-week high at 21.00 would be a strong confirmation that further upside would be seen with 23.16 becoming the objective. Probabilities favor the bulls this week.
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1) FCEL - Averaged long at 2.2275 (4 mentions). No stop loss at present. Stock closed on Friday at .125 (new price 1.50). 2) CCJ - Liquidated at 10.80. Averaged long at 10.47. Profit on the trade of $66 per 100 shares (2 mentions) minus commissions. 3) ENG - Averaged long at 1.865 (4 mentions). No stop loss at present. Stock closed on Friday at 1.66. 4) ARNA - Averaged long at 3.725 (4 mentions). No stop loss at present. Stock closed on Friday at 1.30. 5) CAT - Shorted at 97.43. Stop loss now at 96.05. Stock closed on Friday at 94.32. 6) FSLR - Averaged long at 37.52 (3 mentions). No stop loss at present. Stock closed on Friday at 26.80. 7) LVLT - Liquidated at 59.48. Profit on the trade of $37 per 100 shares minus commissions. 8) CLF - Averaged long at 8.96 (3 mentions). No stop loss at present. Stock closed on Friday at 7.11. 9) CNX - Averaged long at 19.17 (3 mentions). Stop loss now at 14.66. Stock closed on Friday at 15.35. 10) X - Averaged long at 33.42 (3 mentions). No stop loss at present. Stock closed on Friday at 30.42. 11) FSLR - Purchased at 25.67. Stop loss at 24.36. Stock closed on Friday at 26.80. 12) XON - Purchased at 18.57. Stop loss now at 18.31. Stock closed on Friday at 20.19. 13) AAPL - Shorted at 142.79. Covered shorts at 142.77. Profit on the trade of $2 per 100 shares minus commissions.
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The opinions and commentaries by Mr. De Vito are not a recommendation to buy or sell, but rather
a charting guideline, based on his own knowledge and experience, regarding the stocks he is following or
that are brought to him by others. Mr. De Vito does not presently offer a track record of his trading experiences.
No inference of success and/or failure should be assumed. The
information enclosed above, regarding his background, length of trading, and experience, is correct
but is not meant to suggest, state, or infer any future success in trading, based on his opinions. The information herewith included should only be used by investors who are aware of the risk inherent in securities trading. Mr. De Vito accepts no liability whatsoever for any loss arising from any use of the information and/or comments he supplies. |
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