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Issue #152 
December 6, 2009 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Confusion Reigns After Unexpected Unemployment Report!
DOW Friday close at 10389
The DOW made a new 14-month daily and weekly closing high this past week after receiving positive economic reports showing that the economy is continuing to grow and that unemployment may have reached a plateau or a top. Nonetheless, the economic reports also brought mixed feelings among traders as a return to normalcy could also bring a return to tightening of interest rates. As such, the new highs were tempered with fears the money available for stocks would be diverted to other financial instruments offering better returns.
The DOW, based on the much better-than-anticipated unemployment and payroll numbers released on Friday, made a new 14-month intra-day high at 10517. Nonetheless, the index was unable to follow through on the positive news and sold off ending the day closing below the previous daily closing high at 10472. Such action threw the traders into confusion and awaiting further clarification of what these impressive numbers really mean.
On a weekly closing basis, there is no resistance until decent resistance at the 200-week MA, currently at 11200, is reached. On a daily closing basis, resistance is minor at 10437, a bit stronger at 10464 and decent at 10472. On a weekly closing basis, decent support is now found at the 100-week MA currently at 10000. At that level, there is also a previous weekly high close at 9996 that is likely to add strength to that support. Below that, there is no resistance until decent resistance is found at 9713. On a daily closing basis, there is decent to strong support at 10310/10318, minor support at 10197 and then nothing until the 50-day MA currently at 10,060.
For the past 3 weeks the DOW has been "treading water" without much direction, having closed on November 16th at 10407 and on Friday at 10389. This sideways action has been in spite of many much-better-than-anticipated reports showing that the economy continues to recover and is beginning to grow. As such, the disposition of the traders is not conducive to new buying of consequence during the holiday period but also is not conducive to strong selling or profit taking other than end-of-the-year book squaring.
Nonetheless, the probability numbers continue to favor a sideways to slightly downward action for the holiday period as the good news has not resulted in a clear re-start of the up-trend. Until the new earnings report quarter and confirmation of this week's startling good numbers comes in January traders are likely to take a wait-see approach.
The beginning of this coming week should bring in some initial selling as the strength in the dollar put a brake to the rally on Friday causing the DOW to have an outside day with a close in the bottom half of the days range. The intra-day chart does show an inverted flag formation that if broken, a drop below 11307, would offer an objective down to the 10100 level. It is important to note that the previous week's close at 10310 likely kept the index from breaking below that level on Friday, but won't be considered an important level on Monday.
In addition, the late rally, which allowed the index to close in the green, was not successful in generating a move back above the 20 and 50 60-minute MA's. As such, with the dollar likely to see some follow through to the upside on Monday, the DOW will likely see some early week weakness.
Possible trading range for the week is 10438 to 10186.
NASDAQ Friday Close at 2194
The NASDAQ this past week was the strongest index rallying 2.5% above last week's close in comparison with the DOW's .7% and the SPX's 1.2%. The increased buying in the index has to be considered a bullish sign for the market. Nonetheless, it can also be said that the chart to the upside has now been totally fulfilled as the index got up to the 200-week MA at 2210 (rallied up to 2214), as well as closed just "slightly above" the highest weekly close between 2003-2005 at 2192.
The NASDAQ did have an outside day with higher highs and lower lows than the previous day but fell short of having a reversal day when it closed in the green. Nonetheless, it did close in the lower half of the day's trading range and should see some additional selling on Monday.
On a weekly closing basis, resistance is strong at the 200-week MA currently at 2210. Above that level, though, there is decent to strong resistance at 2250 from a total of 7 previous weekly closes in that area between 2004 and 2009. On a daily closing basis, resistance is strong at 2204. On a weekly closing basis, there is minor support at last week's close at 21.38. Below that level there is no support until strong support is found at 2045/2048. Strong support is also found at the 100-week MA currently at 2000. On a daily closing basis, support is minor at 2173 and minor to decent at 2146. Below that level there is no support of consequence until the 100-day MA currently at 2174. Strong support is found at 2045/2048.
The NASDAQ continues to be the index to watch at these levels, especially now when all of the upside objectives have been reached. It is likely the index will point the way for the next couple of weeks with last week's high at 2214 being a breakout point and a close next Friday below 2194 being a signal that no further upside will be seen for the rest of the month.
It must be mentioned that the 200-week MA must be considered a "major" resistance level to any index or stock. With some confusion as to how the Fed will react to the lowering unemployment numbers as well as the almost even payroll numbers, it is unlikely that traders will be able to break above that line until confirmation is given next month. As such, it is likely that the highs for the month of December were seen on Friday. During the next few weeks the NASDAQ will probably trade in a sideways trading range, much as it has done over the past 7 weeks, with the 2200 level being resistance and the 100-day MA, currently at 2074, being support.
In looking at the intra-day 60-minute MA, resistance is strong at 2205. Support is decent at 2170 and decent again at 2137. Additional support on the intra-day chart is seen at 2120. On a daily closing basis, a close below 2170 should generate a mini sell signal and a close below 2137 a stronger one. It is important to note that the NASDAQ has left an open gap between 2147 and 2162 that should not be left open unless the index can make new highs above Friday's high. As such, pressure should be felt starting Monday with closure of the gap as the first objective.
Possible trading range for the week is 2205 to 2124.
S&Poors 500 Friday close at 1105
The SPX broke convincingly above the 100-week MA with a close above the previous high weekly close at 1093. Nonetheless, on the daily closing chart, the index was unable to break the double top presently at 1110/1111 in spite of making new 14-month intra-day highs on Friday at 1117. Such failure to follow through or close above the double top is likely being considered a negative by the traders.
The sideways action seen over the past 10 weeks is more evidence that in spite of good news new buying is not being seen. The sideways action is more evident in the SPX than in any other index as the stock got up to a high of 1101 on October 16th and now, 10 weeks later, finds itself only 4 points higher at 1105. In addition, on 9 of the last 14 trading days the index has had an intra-day high between 1111 and 1114 without being able to generate any follow through. Such action seems to suggest strongly that new highs will only be made when the new earnings quarter starts in January.
On a weekly closing basis, there is no resistance whatsoever until the 200-week MA, currently at 1237, is reached. On a daily closing basis, there is minor resistance at 1109 and strong resistance at the double top at 1110/1111. On a weekly closing basis, support is minor at the most recent low close at 1091 and again at the 100-week MA, currently at 1084. Below that level there is no support of consequence until 1036 is reached. On a daily closing basis, there is decent support at 1091, minor support at 1087, and decent support at 1043/10044. Strong support is found at 1025/1036.
With such a strong resistance in place, the probabilities now seem to favor a drop back to at least the 50-day MA currently at 1080. Nonetheless, the SPX was the weakest index the last time a small correction occurred being the only index to break below the 50-day MA. As such, if there is another mini correction coming, it is likely that once again the SPX will receive the most selling, especially since the financial industry seems to be under the most selling pressure of all other industries. As such, drops down to the 100-day MA, currently at 1046 are likely.
With such sideways action and narrow trading ranges between support and resistance, it won't take much to generate some short-term decisive move. The 1091 level has to be considered the pivot point and support of consequence. Any close below 1091 will be a mini sell signal and likely will cause the drop to the 100-day MA at 1046 to occur. By the same token, any close above 1111 will be considered a breakout and new buying will likely be seen.
Possible trading range for the week is 1112 to 1079.
It was evident by Friday's action that the traders seem to be confused as to what action from the Fed the recent positive numbers in unemployment and payroll will bring about. In addition, the numbers were so unexpectedly good that confirmation, in the form of next months numbers, will need to be given before they are believed.
It was also evident by the sideways action seen in the indexes during the past 10 weeks, that further upside is going to be hard to accomplish. By the same token, strong downside is unlikely to happen unless negative news comes out. With the holiday season now ahead, it is likely that traders will decide to hibernate and leave new decisions for the New Year.
Nonetheless, with book squaring for the year as well as some profit taking for the books likely to occur, it is possible that for the next few weeks mild selling will rule. There is one possible monkey wrench in the works, though. If the dollar continues to strengthen money could be shifted away from stocks and into other financial instruments that could offer better returns than what the market presently offers.
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Stock Analysis/Evaluation
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CHART Outlooks
After Friday's surprising unemployment and payroll numbers, which strengthened the dollar and caused the indexes to react in an indecisive way, the probabilities now favor a sideways to slightly downward action over the next few weeks. Traders are now likely to postpone any big involvement in the market until the figures are confirmed, and end-of-the-year book squaring as well as profit taking will likely take place in December. Nonetheless, it also favors individual stocks moving on their own chart patterns and not necessarily in conjunction with the indexes.
BA (Friday's closing price - 54.69)
BA totally fulfilled its chart pattern with Friday's rally up to the 100-week MA currently at 55.50. In addition, with the rally, the stock now shows a possible intra-week double top up at the 55.45 level as well. In addition, the stock backed off the highs in a meaningful manner giving notice that perhaps the rally was a spike high.
Nonetheless, on the weekly closing chart, BA was able to make a new 15-month weekly closing high, making this coming week very important as either a confirmation or false breakout week. It is probable that BA will follow whatever the indexes end up doing this week. With the probabilities slightly favoring a sideways to downward movement in the indexes, a drop back down to the psychological support at $50 is likely.
On a weekly closing basis, there is no resistance other than the 100-week MA currently at 55.50. On a daily closing basis, resistance is strong at 54.62. On a weekly closing basis, support is minor at the previous week's close at 18.26, minor to decent at 17.00 and at 16.39, and strong at 14.82 to 15.00. On a daily closing basis, support is minor at 18.26 and again at 17.76. Strong support is found between 14.25 and 15.00.
BA shows strong resistance at the mid $55 level as not only is the 100-week MA currently at that price but there have been 3 other major intra-week highs made around that price, with the first high made on November 4th 2008 at 55.65, the second made on September 29th at 55.48 and the high made on Friday at 55.45. As such, it is evident that without help from the indexes or from some positive fundamental news that the resistance at that level will be difficult to break.
BA is showing an open gap between 52.69 and 52.75 that will work as a magnet if the stock falters this week. In addition, the stock shows no support whatsoever until the 50-day MA is reached down at 51.47. Drops down to the 100-day MA currently at 49.20 would be likely if the stock if the stock gets into a small corrective phase during the holidays.
On Friday, the stock had a possible spike high when it fell back to the middle of the day's trading range after reaching the 100-week MA as well as the previous high resistances. The spike high could signal a short-term high point for at least the next 4 weeks if the stock fails to rally on Monday. If so, the probabilities of the stock falling back to the 100-day MA, currently at 49.20 as well as the daily and weekly closing psychological support at $50 will be high.
Sales of BA between 54.90 and 55.00 and using a stop loss at 55.75 and having an objective of 49.20 will offer a risk/reward ratio of 6-1.
My rating on the trade is a 3.25 (on a scale of 1-5 with 5 being the highest probability).
AIPC (Friday's closing price - 32.32)
AIPC got up to a strong area of resistance up at $33 on Wednesday that has been in effect since April. Nonetheless, the stock was unable to break through even though it has been on a recent strong up-trend as well as the indexes making new 14-month highs. As such, it is probable the resistance at $33 will be difficult to breach at this time.
On a weekly closing basis, resistance is strong at 34.24 and major at 35.15. On a daily closing basis, resistance is minor at 32.53 and then nothing until 34.24. On a weekly closing basis, support is decent at 30.08 and a bit stronger at 28.73. On a daily closing basis, there is minor to decent support at 31.89/31.91 and then nothing until decent support is found between 29.19 and 29.63.
AIPC is not a stock that often mimics what the indexes do, in fact has often moved on its own without any help or hindrance from the indexes. Since February the stock has traded in a sideways trading range with a major high at 35.73 and a major low at 23.00. Nonetheless, since June the stock has basically traded between $33 and 25.50. With little new information likely to come out during the month of December, it is likely that the stock will continue to trade sideways.
AIPC received a positive earnings report 2 weeks ago that generated a gap opening and a strong rally. Nonetheless, upon reaching the 6-month highs up between 32.93 and 33.00 the stock seemed to find a brick wall and over the past couple of trading days, in spite of strength all around, the stock has been unable to continue the up-move. If the stock is unable to go any higher this coming week, it is likely to move back down to the gap area in an attempt to close it. With the 100-day MA currently at 29.20, the probabilities of that area becoming a main objective for the month of December are high.
Decent support on the weekly chart is found down at 28.50 and, as such, that would be the main objective of a sideways trading range. Nonetheless, the trade, depending on the entry point, does offer a very good risk/reward ratio with a high probability of success.
Sales of AIPC between Friday's closing price at 32.32 and 32.53 and using a mental stop loss at 33.10 and having a minimum objective of 29.20 will offer a risk/reward ratio of 4-1.
My rating on the trade is a 3.25 (on a scale of 1-5 with 5 being the highest probability).
TXN (Friday's closing price - 26.85)
TXN has been on a tear for the last 6 trading days based on the recent strength in the tech sector. In addition, the stock on Friday was able to hold on to its gains even though the indexes faltered and showed a failure to follow through on their new 14-month highs. With no resistance close by, it is likely that the stock will continue its run to the upside at the beginning on the week.
Nonetheless, TXN is reaching several upside objectives as well as resistance levels that are likely to put a brake to the rally and cause a small correction downward to occur after they are reached.
On a weekly closing basis, resistance is decent to strong between 27.00 and 28.21, especially with the 200-week MA currently at 27.60. Further decent resistance is found at 28.82. On a daily closing basis, decent resistance is found between 27.43 and 28.28. On a weekly closing basis, support is minor to decent between 24.74 and 25.00. Strong support is found at the 100-week MA currently at 22.88. On a daily closing basis, support is decent between 24.74 and 25.25 and a bit stronger at the 100-day MA currently at 24.20.
TXN spiked up on the weekly chart this past week and is likely to see follow through this coming week with the 200-week MA at 27.60 as a highly probable objective. Nonetheless, it is possible that once the stock gets up to that level that the traders will attempt to close the gap up to 28.23 that was generated in July 2008. In looking over the chart of the past 5 years, though, the resistance between 27.50 and 28.28 is likely to stop any further upside from occurring.
The resistance is of enough consequence as to cause a drop back down to at least the psychological support at $25 or the 100-day MA at 24.20 to happen. With the likelihood that December will generally be a relatively calm month, a sideways trading range between support and resistance is highly likely. It must also be mentioned that there has been no support built between the most recent low 6 trading days ago at 24.56 and Friday's closing price. As such, when the stock does find strong selling a fast drop in price could occur.
Sales of TXN between 27.60 and 28.23 and using a stop loss at 28.50 and having an objective of 24.20 will offer a risk/reward ratio of 4-1.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest probability).
JPM (Friday's closing price - 41.74)
JPM has been on a small downtrend since having reached the peak of rally that started at 15.02 and ended at 47.47 8 weeks ago. During the last 4 months the $40 level has been strong support but with the stock now its fifth attempt at breaking that support, the probabilities have increased that it will do so this time around if the indexes show any kind of weakness.
Two weeks ago JPM closed below the 200-week MA for the first time in the last 16 weeks and confirmed the break on Friday with a second close below the line. As such, it is likely that without any help from the indexes, that the stock will be moving down from here.
On a weekly closing basis, resistance is decent at the 200-week MA currently at 42.03, minor at 43.48, and strong at 46.06. On a daily closing basis, resistance is strong between the most recent high close at 42.49 and the 100-day MA currently at 42.65. On a weekly closing basis, support is decent at 39.66, a bit stronger at the 100-week MA currently at 37.50, and strong at a previous weekly support of consequence at 36.54. On a daily closing basis, support is strong between 40.73 and 41.33. Below that level there is absolutely no support until the 200-day MA currently at 36.75 is reached.
JPM broke below the 200-week MA 2 weeks ago and broke below the 100-day MA this past week. In addition, the break of both of these levels have been tested successfully giving the stock high probabilities of moving lower from here, unless the indexes generate a new rally.
The intra-day support between 40.53 and 40.75 is very strong but has now been seen on 5 different occasions giving high probability of breakage. Below that level there is no support of consequence, except psychological at $40, until the 200-day MA currently at 36.75 is reached. In addition, there is an open gap between 38.65 and 38.99 that will act as a magnet once the support level is broken.
Resistance is now very strong at the 200-week, currently at 42.00 and the 100-day MA currently at 42.60. In addition, the most recent intra-day high at 43.09 will also act as strong resistance. As such, a short position in JPM offers a clearly defined and attractive risk/reward ratio with a high probability of success.
Sales of JPM between 42.00 and 42.60 and using a stop loss at 43.19 and having an objective of 37.00 offers a risk/reward ratio of at least 5-1.
My rating on the trade is a 4.0 (on a scale of 1-5 with 5 being the highest probability).
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Updates
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| Monthly & Yearly Portfolio Results
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Closed Trades, Open Positions and Stop Loss Changes
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| Status of account for 2007: Profit of $9,758 per 100 shares after losses and commissions were subtracted. Status of account for 2008: Profit of $14,704 per 100 shares after losses and commissions were subtracted.
Status of account for 2009, as of 10/31 Profit of $10,997 using 100 shares per mention (after commissions & losses) Closed out profitable trades for November per 100 shares per mention (after commission)
WFC (short) $108 AMZN (short) $121 AMZN (short) $24 AMZN (short) $147 COO (short $16 STP (long) $14 AMTD (long) $107) Closed positions with increase in equity above the close the previous month.
PMCS (short) $45 Total Profit for October, per 100 shares and after commissions $1169 Closed out losing trades for October per 100 shares of each mention (including commission)
UTX (short) $35
VALE (short) $59 AMZN (short) $124 RIMM (short) $90 UTX (short) $260 WDC (short) $692 DD (long) $4 AMZN (short) $24 AXP (short) $59 NUAN (short) $77 AMZN (short) $62 BEXP (long) $75 AMZN (short) $26 AMZN (short) $139 Closed positions with decrease in equity below last months close.
AMZN (short) $716 Total Loss for November, per 100 shares, including commissions $4913 Open positions in profit per 100 shares per mention as of 11/30
HPQ (short) $182 Total $182 Open positions in loss per 100 shares per mention as of 11/30
IR (short) $7
Total $7 Status of trades for month of November per 100 shares on each mention after losses and commission subtractions.
Loss of $3751
Status of account/portfolio for 2009, as of 11/30Profit of $7246 using 100 shares traded per mention.
NUAN had a spike up the previous week but failed to follow through this past week closing in the red. The stock was able to close an open gap on the daily chart this past week when it rallied up to 15.36. Nonetheless, closure of the gap did not bring in any additional buying. The close at 14.89 confirmed the previous week's close at 15.00 as a successful retest of the strong resistance there. Support will be found at the 50-day MA currently at 14.45 and much stronger support at the 100-day, 100 and 200-week MA's all currently at 13.90. Likely trading range for December is 14.00 to 15.50.
SKX, on a weekly closing basis, was able to make a new 28-month weekly closing high. It was not done in an impressive manner, though, as the new high was only 11 points above the previous high weekly close and on an intra-day basis, the 28-month high at 25.57 was not broken. Nonetheless, the stock did have a reversal week with lower lows, higher highs and a close above the previous weeks high. As such, the probabilities favor some follow through to the upside this coming week. Support is now decent at 23.32. On a daily closing basis, any close above 24.98 is likely to generate follow through to the upside. By the same token, any close below 21.82 is likely to generate follow through to the downside. Probabilities favor a sideways trading range between $25 and $22 for the month of December. IR had an inside week in which little direction, if any, was given. The stock continued to trade below the 200-week MA, currently at 36.81, and it is unlikely that at this time the stock will be able to break above it. Strong intra-week support is found down at 33.56 and therefore the probabilities favor a sideways to slightly lower trading range for the next few weeks between 33.56 and 36.81. On a short time basis, though, any close below 35.00 will put the stock on the defensive and likely heading toward the lower end support. By the same token, a close above 35.91 will likely cause the stock to test the 200-week MA. HPQ tried very hard, with the help of a strong index market, to close the gap between 49.80 and 49.96. Nonetheless, the stock was only able to get up to 49.90 this past week and continued to leave the gap open. Nonetheless, with the close near the highs of the week, the probabilities of the gap being closed are high. Closure of the gap, though will put the stock at a strong resistance level, on both the intra-day charts as well as the weekly closing charts, at 50.00. With the strong indexes market being unable to generate enough buying to close the gap this past week, probabilities favor continued weakness in this stock. Support is decent at the most recent intra-day low, as well as where the 50-day MA is currently at, at 48.60. Nonetheless, a break of that level should generate new selling and a drop down to the 100-day MA currently at 46.20. Likely trading range for the month of December is $46 to $50. TRLG had an inside week and continues to show strong weakness on the chart. The stock continued to close below the 200-week MA, currently at 19.00, in spite of the strength in the indexes. As such, further downside is still expected to be seen. Stock has strong intra-day resistance between 19.18 and 19.26 and decent support at 17.89/17.91. A break of the support will likely generate a move down to the $15 level while a break of resistance a move up to the $20 level. Probabilities favor the downside. TRA confirmed that the weekly close 2 weeks ago at 40.06 was a successful retest of the resistance at $40. On the weekly closing chart there is no support until 35.85 is reached. Intra-week support, though, is not found until 33.80 is reached. Though it is evident the stock will move in conjunction with the indexes, the probabilities favor the downside. On a short-term basis, any daily close above 40.06 would be positive, while a close below 38.16 a negative. Below 38.10 there is no support at all until the 36.00 level is reached. Chart slightly favors downside action. VALE had a reversal week making new 17-month highs but closing in the red. In the process, the stock tested the $30 psychological resistance level successfully. The stock did close on Friday right above a decent support level at 28.10. Nonetheless, any further weakness this coming week will break that support and below that level no support of consequence is seen until a previous low as well as the 50-day MA are reached at 26.56. On the weekly chart, though, if the stock breaks below last week's low at 28.04 there is no support of consequence until the 24.00 level is reached. The stock is likely to be under fundamental pressure if the dollar continues strong this coming week. A daily close above 29.53 would be a positive, while a close below 28.19 a negative. Probabilities favor the downside.
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1) AMZN - Shorted at 137.05. Covered short at 138.08. Loss on the trade of $103 per 100 shares plus commissions.
2) VALE - Shorted at 29.91. Stop loss at 30.03. Stock closed on Friday at 28.22.
3) SKX - Covered shorts at 23.17. Averaged short at 23.70. Profit on the trade of 106$ per 100 shares (2 mentions) minus commissions.
4) SKX - Shorted at 24.75. Stop loss at 24.50. Stock closed on Friday at 24.55.
5) GPS - Covered shorts at 21.72. Averaged short at 19.305. Loss on the trade of $726 per 100 shares (3 mentions) plus commissions.
6) AMZN - Covered short at 135.35. Shorted at 134.10. Loss on the trade of $125 per 100 shares plus commissions.
7) AXP - Shorted at 42.21. Averaged short at 42.03. Covered short at 39.25. Profit on the trade of $556 per 100 shares (2 mentions) minus commissions.
8) AMZN - Shorted at 145.75. Covered short at 141.63. Profit on the trade of $412 per 100 shares minus commissions.
9) HPQ - Shorted at 50.88. Stop loss at 51.12. Stock closed on Friday at 49.79.
10) IR - Shorted at 35.77. Stop loss at 37.10. Stock closed on Friday at 35.78.
11) LINE - Covered short at 25.12. Shorted at 25.12. Loss on the trade of $0 per 100 shares plus commissions.
12) WDC - Covered short at 39.37. Averaged short at 37.13. Loss on the trade of $671 per 100 shares (3 mentions) plus commissions.
13) STP - Covered short at 15.41. Averaged long at 15.235. Profit on the trade of $35 per 100 shares (2 mentions) minus commissions.
14) TRLG - Shorted at 18.76. Stop loss at 19.36. Stock closed on Friday at 18.75.
15) TRA - Shorted at 38.83. Stop loss at 40.47. Stock closed on Friday at 39.05.
16) AMZN - Shorted at 143.20. Covered short at 136.70. Profit on the trade of $650 per 100 shares minus commissions.
17) OSK - Shorted at 39.00. Covered short at 39.51. Loss on the trade of $51 per 100 shares plus commissions.
Previous Newsletters
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Encyclopedia of Chart Patterns. A must have for chart aficionados! |
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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