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Issue #162 
February 14, 2010 | Newsletter
The newsletter with chart analysis for stocks and stock indexes |
Stock Indexes Analysis/Evaluation
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| Indexes Likely to Test Recent Highs!
DOW Friday closing price - 10099
By closing higher on Friday, the DOW was able to confirm last week's close at 10012 as a successful retest of the psychological support level at 10,000. Nonetheless, the index had an inside week (lower highs and higher lows), and that still leaves the index with a negative bias as well as many unanswered questions.
In addition, the DOW was unable to negate the break of the 100-day MA the index broke below the previous week (currently at 10180). Such action is likely to keep the bulls on the defensive this coming week.
On a weekly closing basis, resistance is minor at the 20-week MA, currently at 10185, as well as minor again at 10472 and 10520. Strong resistance is seen at the 17-month high weekly close at 10618. On a daily closing basis, resistance is minor at the 100-day MA, currently at 10180, and decent at the most recent daily close of consequence at 10297. Above that level there is minor resistance at the 50-day MA, currently at 10390, and decent to strong resistance between 10472 and 10501. Strong resistance is found at 10725. On a weekly closing basis, Support is decent to strong at 10012, decent at the 100-week MA, currently at 10790, and minor to decent at 9713. On a daily closing basis, support is decent between 9970 and 10030. Below that level, support is decent at 9713 and strong between 9488 (daily closing low of some consequence) and 9518 (200-day MA).
This past week the traders were confused with Monday's unexpected weakness, Tuesday's unexpected strength, and Friday's inability to follow through on a strong close on Thursday. The latter can be explained as it was based on fundamental news (credit tightening in China). By the same token, that news will need to be evaluated before the market decides what direction to take this coming week.
Nonetheless, there was one positive event that did occur, in spite of all the confusion, and that was a higher close than the previous week. Such action tends to support the idea that the index may have found a temporary low at 9835 and that it will be heading higher this coming week, mimicking the action seen in 2004. It must also be mentioned that the Chinese market will be closed all this week and unable to influence the US market negatively. In addition, history suggests that new buying will come into the Chinese market on their New Year (a week from Monday).
On the negative side, the chart is presently showing not only an inside week (follow through expected to be seen based on the previous week - "down") but a possible negative inverted flag formation (flagpole 10730 to 9835 and flag from 9835 to 10162). Such a chart formation, if fulfilled, would offer an objective of 9270 if the bottom of the flag at 9835 is broken. As such, the 100-day MA, currently at 10180, is likely to play a very important part in the trading this coming week. If the DOW is able to get above and close above last week's high at 10162, as well as above the 100-day MA at 10180, the negative chart formation would be annulled.
The DOW did open up substantially weaker on Friday, based on the China news, but then was able to recover to close nearer to the highs than the lows. Based on that fact alone, the probabilities do favor further upside this coming week. Any close above the 100-day MA at 10180, will likely generate further upside with an immediate objective of 10282-10305 where decent resistance is found. If that level is taken out, rallies up to the 10500 will be probable.
Possible trading range for the week is 10055 to 10387.
NASDAQ Friday closing price - 2183
The NASDAQ also had an inside week but was able to close on the highs of the week as well as slightly above the 100-day MA at 2178, giving the index high probabilities of seeing higher prices this coming week. Such action will erase the negativity that an inside week, following a down week, usually has.
The NASDAQ has been a good indicator, especially to the upside, regarding what the indexes are likely to do. The index has outperformed the other indexes for the last 10 months and there is no reason to believe that is about to change. Having a couple of very important levels (mentioned below) nearby, will likely make the NASDAQ the index to watch this coming week.
On a weekly closing basis, resistance is decent at the 200-week MA, currently at 2210. Above that level, the stock has minor to decent resistance at 2239, from a previous low close of consequence, minor resistance at 2274, minor again at 2286, and major at 2317. On a daily closing basis, resistance is decent at the most recent daily high close at 2191, minor at 2221, and then nothing until 2291 is reached. Above that level there is strong resistance between 2317 and 2320. On a weekly closing basis, support is decent at 2138/2141 and strong at 2045/2048. On a daily closing basis, support is minor at 2147 and decent at 2126. Below that, there is no support until strong support is found between 2045 and 2048.
The NASDAQ was able to generate a slight close above the 100-day MA, currently at 2178, on Friday. If the index follows through on the positive close and closes in the green on Tuesday, especially if above 2191 (decent daily close resistance), the doors will open for additional buying to come in. Nonetheless, the index will have some problems with the psychological resistance at 2200 as well as with the 200-week MA at 2210. If all of those resistance levels are broken, though, a rally up to test the recent highs at 2326 would become the objective of the traders. It must be mentioned that if the index gets above those levels, as well as above a minor resistance at 2228, there is no resistance whatsoever until 2295 is reached.
Based on the chart, the probabilities do seem to favor at least a rally up to the 200-week MA at 2210. That will be the pivot point for the index, at least for the next week or two. A break and close above that line will give the edge back to the bulls, with the express intention of trying to test the 17-month highs at 2326.
The NASDAQ did have a better day than the other indexes on Friday as it was able to get above Thursday's high in spite of the weak opening (the other indexes were not able to do that). The close on the highs of the day is another positive sign that further upside will be seen next week. Nonetheless, the intra-day resistance at 2193 (2191 on a daily closing basis) is decent and will not be an easy obstacle to break.
In looking at the chart, it is expected that index will rally this coming week and attempt to generate a rally up to the 2295 level over the next week or two. Though the resistance at the 200-week MA at 2210 is decent to strong, the fact remains the resistance was broken recently, and therefore another break of that line would not mean all that much. It is therefore likely that decent strength will be seen this coming week.
Possible trading range for this week is 2167 to 2262.
SPX Friday closing price - 1075
The SPX underperformed the other indexes this past week, as much of the selling pressure was felt in the financial sector. Nonetheless, the index did close higher than the previous week, thus giving the previous week's close the tag of successful retest of the 100-week MA. The index did have an inside week as well, but closing near the highs of the week, it is probable that higher highs than last week will be seen. Such action, if it happens, will erase the negative nature of the inside week.
The SPX does find itself in a more negative chart formation than the other indexes as it is still far away from the previous week's high at 1105. In order to turn positive, the index must rally 30 points just to get to a place where the sellers will begin to take notice. In this particular situation then, the index will likely be a good barometer for the bears, rather than the bulls.
On a weekly closing basis, resistance is minor to decent at 1088, minor at 1106, and again at 1126, and strong at 1145. On a daily closing basis, resistance is minor to decent at the 100-day MA, currently at 1093, decent at the most recent daily high close at 1103, decent to strong at the 50-week MA, as well as copious previous daily closes between 1109 and 1116. Above that level resistance is very strong between 1147 and 1150. On a weekly closing basis, support is minor at last week's close at 1066, minor to decent at 1036, as well as at 1025. Strong psychological support is found at 1000. On a daily closing basis, support is minor to decent at 1057, decent at 1036, and strong at 1025.
The SPX was unable to generate much buying interest this past week and stayed far away from the 100-day MA, that it broke 2 weeks ago, currently at 1093. The index is lagging behind the other indexes and has a ways to go just to get up to the same levels the other indexes are close to or at right now. As such, this is an index that will likely have to be carried up, rather than lead the way.
It is important to note, though, that the SPX does not show much resistance until the 1093 level is reached and therefore if the other indexes establish themselves to the upside early in the week, the traders might concentrate their buying on this index, if only to "catch up".
It is very evident though that there will be quite a bit of selling between 1100 and 1106, especially since that level is a strong psychological level as well as having previous intra-day highs of some consequence. As such, it is possible that if the indexes do rally this coming week that the strength of the rally might be measured by how much the SPX is able to accomplish.
It must also be mentioned, that if the SPX is able to generate a drop below this past week's low at 1057, the outlook for the indexes will take a turn for the worse.
Possible trading range for the week is 1072 to 1104.
This past week the traders were in total disarray as the indexes showed both good weakness and good strength, and then a total lack of direction. It is evident that the news from China on Friday was the "monkey wrench" that caused much of the late week confusion. With that market being closed this coming week, it is likely that whatever happens on Tuesday will reverberate the rest of the week. It must be mentioned, though, that history has shown that the Chinese New Year usually generates a rash of buying the first week. Having that as a bar for what is likely to happen over the next couple of weeks, could mean the markets will enjoy 2 weeks of rally.
This coming week the economic calendar is high but not with reports that are likely to have a strong effect on the market overall. Housing Starts, Building Permits, Capacity Utilization, Industrial Production, as well as PPI and CPI are all reports that will be seen this week. The most important reports are likely to be the inflation reports, but with inflation in control at this moment, those reports are not likely to have much of an effect. As such, the week will likely be more about chart points and trader mood, than about anything tangible.
Based on Friday's close, though, it is likely that more upside will be seen, with the bare minimum being the 100-day MA on the DOW at 10180. Nonetheless, the probabilities do favor the indexes going up decently over the next week and possibly into the first part of the week after. Based on what happened in 2004, as well as on the fact the recent highs have not been tested yet, that could be seen this week.
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Stock Analysis/Evaluation
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CHART Outlooks
CHART Outlooks
It is expected that this coming week, and possibly into the first part of the week after, stocks will likely move higher. Nonetheless, the upside could be limited and at this point good risk/reward ratios are starting to be hard to find.
By the same token, starting in a week or two, it is likely that a second wave down will occur. Some stocks are reaching levels of strong resistance that offer good risk/reward ratios and high probability ratings.
Mentions this week are split between Purchases and Sales. The purchases are very short-term. The sales, though, will be at higher levels than seen on Friday. As such, it is likely that desired entry points will not be seen until late in the week or the week after.
Purchases
HON - Friday closing price 37.86
HON has come down strongly over the past couple of weeks from a double top that was formed between 43.13 and 43.23. Nonetheless, over a week ago, the stock got down to the 200-day MA currently at 36.70 last week and bounced up of it. It is likely that if the indexes are heading higher to test the recent 17-month highs, that HON will be doing the same.
HON has a chart very similar to the DOW and the action for the last 6 trading days seems to suggest that the stock will be moving higher over the next week or two.
On a weekly closing basis, Resistance is decent to strong at 40.17 and again at 40.87 and strong at 42.63. On a daily closing basis, resistance is minor to decent at 39.52, decent to strong at 40.17, decent at 41.31 and strong at 42.85. On a weekly closing basis, support is minor at 37.47 and strong between 35.60 and 35.85. On a daily closing basis, support is decent between 36.87 and 36.60, decent at 35.60 and decent to strong at 35.02.
HON had an inside week this past week but managed to close in the upper half of the week's trading range, as such, it is likely that if the indexes are heading higher that the stock will be able to get above last week's high at 38.85 and if that happens, the stock will get up to a strong pivot point level between 39.20 and 39.60. What the stock does at that level will likely determine whether the stock gets up to test the recent highs at 43.13/43.23 or not. Probabilities favor that happening.
Just like with the indexes, the probabilities do favor the stock being in a 6 months correction that will ultimately take the stock down to the $32 level. A trading range for the next 6 months could easily have the stock trading between $32 and $41. For the short-term, though, it all begins with the most recent high at 38.35 as that level needs to be taken out early this coming week, in order for the wheels to start turning to the upside.
Purchases of HON between 37.62 and Friday's closing price at 37.86 and using a sensitive mental stop loss at 37.19 and having an objective of 41.55, will offer a 6-1 risk/reward ratio.
My rating on the trade is a 3.25 (on a scale of 1-5 with 5 being the highest).
GE - Friday closing price 15.55
GE took a dive over a week ago based on the news that the company was looking to sell majority shares in NBC Universal to Comcast. The stock generated a classic reversal week (higher highs, lower lows, and a close below the previous weeks low) because of the news. Nonetheless, no follow through was seen to that reversal last week, putting into question the negative validity of the news.
On Friday, with the negative news received regarding China's credit tightening, GE broke below the lows made Monday through Thursday and tested the previous weeks low made after the Comcast news at 15.25. The stock dropped down to 15.35. Nonetheless, that low held all day and the stock finally finished closing near the highs of the last 6 hours of Friday's trading session, giving notice that the probabilities are good the stock will be moving up this week.
This particular mention on GE is slightly out of the ordinary as it is basically a very short-term trade (1-5 days) with very specific entry points and objectives. The trade itself is based on the 60-minute and daily chart and is trying to take advantage of what the indexes are likely to do this week alone, as well as what the GE chart seems to suggest will happen within very limited parameters.
The trade is also based on a gap the stock left open on February 4th between 16.62 and 16.50. Such a gap, based on the uptrend seen in the stock, is not likely to be left open. As such, with the bears being unable to push the stock down this past week, the probabilities favor a rally to close the gap this coming week.
Purchases of GE at 15.44 and placing a stop loss at 15.15 and having an objective of 16.85/16.93 will offer a 4-1 risk/reward ratio.
My rating on the trade is 2.75 (on a scale of 1-5 with 5 being the highest).
Sales
OSK has moved up close to 1000% over a period of 9 months from a low of 4.74 to the high seen the last week in November at 41.99. Since that time, though, the stock has been showing some topping out action that if confirmed within the next week or two with a successful retest of the highs will likely generate at least a 10-15% correction with a good possibility of it being as much as 20% to 25%.
In addition, OSK has been trading around a strong psychological resistance at $40 and without a resumption of the bull trend in the indexes, it seems unlikely the stock could go higher without a clearly defined and strong correction coming first.
On a weekly closing basis, resistance is minor at 38.67, decent to strong between 39.52 and 40.41, and strong at 41.62. On a daily closing basis, resistance is minor to decent between 39.51 and 39.64, decent to strong between 40.25 and 40.38 and strong at 41.62. On a weekly closing basis, support is minor at 37.03 and decent to strong between 34.81 and 35.37. Below that level, support is minor at 31.26 and decent to strong at 28.68. On a daily closing basis, support is minor at 37.99, decent at 35.98 and decent to strong at 34.81. Below that level there is no support of consequence until 30.41 is reached.
OSK has shown definite signs over the past 2 months that further upside needs positive fundamental news of consequence. Having moved up close to 1000% percent in value, the stock is certainly in need of a good correction before attempting to re-generate further moves up. If the stock rallies and tests the recent high at 41.99 successfully, it is highly likely it will be in at least a trading range between $35 and $ 41 for a couple of months. Nonetheless, should the stock break the $35 support level, drops down to $30 would then become probable.
A drop down to 34.24 was seen 2 weeks ago and since that drop the stock has moved back up to the $40 level where for the last two weeks the stock has been trading. It is likely that if the indexes show some strength this week, that the stock will break above the $40 level and get up to test the recent highs, with a rally up to the 40.49 to 40.74.
It is unlikely that new highs will be made and with at least a drop back to $ 35, the trade would be worthwhile. Nonetheless, if the indexes are on a 6-month correction, it is possible that OSK will be in one too, and therefore a drop down to $30 could be a good possibility.
Sales of OSK between 40.48 and 40.74 and using a stop loss at 42.09 and having an objective of 35.00, will offer a risk/reward ratio of almost 4-1. Nonetheless, the probabilities of a drop down to the $30 are decent, and if that occurs, the risk/reward ratio would climb up to almost 7-1.
My rating on the trade is a 3.75 (on a scale of 1-5 with 5 being the highest).
CAL - Friday closing price 19.67
CAL, based on a weekly closing basis, has been in a well-defined trading range between 7.28 and 20.86 since April 2008. Recently the stock made a 1-year high with a rally up to 21.58 and now, with the possible help from the indexes, the stock seems to be attempting to rally to test that high. It is unlikely that the stock will break out of the trading range at this time, and therefore the stock seems to be a good short trade on the retest of the high.
CAL is a semi volatile stock that is also tied in to the price of oil. As such, it is prone to strong moves on short notice, but still within support/resistance levels.
On a weekly closing basis, resistance is strong at 20.53 and again at 20.86. On a daily closing basis, resistance is minor to decent at 19.73 and strong between 20.62 and 20.84. On a weekly closing basis, support is decent to strong at 17.38 and then nothing until decent support is found at the 100-week MA, currently at 14.40. Below that, strong support is found at 11.50. On a daily closing basis, support is minor at 18.39 and strong between 17.25 and 17.50. Below that level, support is minor at 16.40 from the 100-day MA currently at that price. Decent to strong support is found at 15.00.
CAL has been more of a trading stock than a trend stock for the last 2 years, with rallies near the top of the trading range being sold and drops down to support being bought. With the stock trading near the recent highs and looking to go slightly higher this week, if the indexes rally, it seems like a good short sale.
CAL also moves quite a bit off of the price of gasoline as that impacts the profit and loss of the company in an important way. With the recent down movement in oil, the stock has seen itself trade near the highs of the 2-year trading range. Nonetheless, it is unlikely that oil prices will fall much more and therefore the upside is limited.
CAL one week ago got down to a good support level between 17.25 and 17.50 and after a few days where the bears tried to push it lower and failed, the stock shrugged off the selling pressure and began to rally. It is now back up near the $20 level and it seems probably this coming week the stock will once again get up above 20.00 and perhaps even up close to 21.00, where the recent high could be tested.
If the stock fails to break the recent highs, the support at 17.25/17.50 will likely be tested again and broken. Drops down to the psychological support at $15 would then be probable. Stock has a breakaway and runaway gap formation at 14.30/14.46 and 15.00/15.25 that would likely be tested.
Sales of CAL between 20.69 and 21.19 and using a stop loss at 21.93 and having an objective of 15.26 will offer a risk/reward ratio of over 4-1.
My rating on the trade is a 4.25 (on a scale of 1-5 with 5 being the highest).
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Updates
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| Updates on Held Stocks
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Closed Trades, Open Positions and Stop Loss Changes
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| NUAN had a negative classic reversal with higher highs, lower lows, and a close below the previous weeks low. Such a reversal will likely cause the index to head lower this coming week, with a probably objective of reaching the 200-day MA, currently at 13.90. On an intra-week basis, though, drops down to 13.50/13.60, where the 100 and 50 week MA's are located, are now possible, perhaps even probable. Resistance will now be decent between 14.95 and 15.06. The probabilities favor the stock trading between 13.60 and 15.00 for the next couple of weeks. ELON received a negative earnings report this past week that generated a spike low. Nonetheless, the stock responded positively after the initial drop and rallied back to close green on the day, thus giving a reversal sign of some consequence. That sign was confirmed on Friday with another green close. In addition, the stock closed higher on Friday than the previous week, giving the previous week the tag of successful retest of the strong $ 8 support level. Another green close on Tuesday will likely generate a rally up to the 9.43 level where some daily high resistance is found. Any daily close below 7.90 would now be considered a negative. GIGM continued to show that a major low is likely in place with another green close on Friday. Nonetheless, the stock has not yet given any kind of a buy signal, as a daily close above 3.06 is needed for that to begin happening (stock closed on Friday at 3.02). The closest intra-day resistance is at 3.13, the 50-day MA is at 3.25, and another intra-day resistance is at 3.37. Getting above that level will be difficult, but if successful a rally up to the gap area at 3.89 will likely happen. Support is now strong at 2.75. As such, stops should now be moved up to 2.65. JRCC generated a green close on Friday, stopping the recent 4-week drop in price. The green close likely confirms that the sideways trading range between $15 and $ 23 is still in place. As such, further upside is expected to be seen, with a possible upside objective of at least $20. The stock did give a buy signal on the daily closing chart, closing above a previous daily close resistance at 16.57. The 200-week MA, currently at 17.40, seems to be the only near-by obstacle to overcome before reaching up into the stronger resistance that is seen between 19.20 and 20.00. On a daily closing basis, support is now decent to strong at 15.65. PCX gave and confirmed a mini buy signal this week when it closed 2 days in a row (Thursday and Friday) above a previous minor daily high close resistance at 14.95. In addition, the buy signal also confirmed that the support at the 200-day MA at 14.30 has been successfully tested, giving that level added strength. In addition, with Friday's close at 16.07, the previous week's break below the minor weekly close support at 15.46 has been negated. Nonetheless, the stock has not yet fully established that it is heading higher as it is still facing the resistance from the runaway gap between 16.10 and 16.37 that has not yet been closed. If the stock is able to close that gap, the breakaway gap up between 19.35 and 20.08 will become a strong magnet. On the way up, though, some minor resistance will be found at 16.96 (based on a daily close). Support will become strong between 15.49 and 15.53 if the runaway gap is closed. Stops can be raised to 15.39 if the stock prints 16.36. Present support is still down at 13.87. Based on Friday's close at 16.07, the probabilities of further upside have increased. TRA negated last week's break of the weekly close support at 31.91 with a close way above that level on Friday. In addition, the stock did give a buy signal on the daily chart when it closed on Thursday above the previous high daily close at 33.43. Friday's close at 33.25 could be seen as a successful retest of that break if the stock closes in the green on Tuesday. There is decent resistance, on the daily closing chart, between 34.04 and 34.11 and that certainly was evident on Friday with the red close. A close above that level any day this coming week, will thrust the stock up to the 35.15 level where the 100-day and 20-week MA's are currently located. Support is now strong between 31.70 and 31.91. Probabilities do favor further upside this week up to 35.20. After that, things might get a bit more complicated. TRLG had a very uneventful week treading water most of the week. The weekly chart continues to favor the downside but rallies up to the 19.70-20.00 level are possible. Nonetheless, on the daily chart, Thursday's high at 19.35 is now considered a minor to decent resistance and should not be broken if the stock is heading lower on the short-term (this coming week). A break below 18.50 will likely generate a move down to at least 17.91. Stops should now be placed at 19.80 because if the intra-day resistance at 19.70 is broken, there will be high probabilities of a rally up to 21.52. This coming week will be short-term pivotal for the stock. VALE had an inside week this past week, leaving questions still unanswered. Nonetheless, the stock did close in the green and close to the highs of the week at 27.15. If there is any follow through to the upside above 27.15, the probabilities of a rally will increase. Nonetheless, there is some decent to strong resistance at 27.56, on the daily closing chart, that needs to get broken to generate any further upside of consequence. Between 27.29 and 27.56 there are 2 previous high daily closes, 2 previous low daily closes, as well as the 100-day MA, making that area a major pivot point. A close above all those resistances will likely generate a rally up to the $30 level and even perhaps up to close a breakaway gap at 31.31. Support is now strong between 24.95 and 25.13. On a daily closing basis, support is also decent to strong at 25.79. WMT has been treading water, on the weekly closing chart, since the week of December 14th. The stock continues to trade in the flag of the flag formation, between 32.50 and 35.00, with a more recent trading range between 32.50 and 34.50. In addition, the stock seems to have been straddling the 100-week MA, currently at 53.10, for the past 4 weeks. The 52.50 level continues to be very important as that is where the 100-day MA is currently at. Friday's weakness can be explained easily as a retest of the recent low at 52.51, but any further weakness will weaken the chart. As such, the stock needs to move higher on Tuesday, above Friday's high of 53.11 and close in the green as well.
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1) VCLK - Liquidated at 9.17. Averaged short at 9.565. Profit on the trade of $79 per 100 shares (2 mentions) minus commissions.
2) JRCC - Purchased at 15.00. Stop loss at 14.56. Stock closed on Friday at 16.86.
3) GIGM - Purchased at 2.87. Stop loss now at 2.65. Stock closed on Friday at 3.02.
4) PCX - Purchased at 14.65. Stop loss at 13.67. Stock closed on Friday at 16.07.
5) WMT - Averaged long at 53.325 (3 mentions). Stop loss is at 52.06. Stock closed on Friday at 52.90.
6) ELON - Purchased at 8.31. No stop loss at present. Stock closed on Friday at 8.22.
7) AMZN - Purchased at 117.75. Liquidated at 117.15. Loss on the trade of $60 per 100 shares plus commissions.
8) NYX - Covered shorts at 22.95. Averaged short at 24.87. Profit on the trade of $ 384 per 100 shares (2 mentions) minus commissions.
9) VALE - Purchased at 24.97. Stop loss raised to 24.85. Stock closed on Friday at 26.93.
10) FTEK - Liquidated at 6.69. Loss on the trade of $189 per 100 shares (2 mentions) plus commissions.
11) TRLG - Shorted at 20.82. Stop loss now at 20.05. Stock closed on Friday at 19.15.
12) TRA - Averaged long at 33.025 (2 mentions). No stop loss at present. Stock closed on Friday at 33.25.
13) SOHU - Liquidated at 48.04. Purchased at 48.44. Loss on the trade of $40 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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