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 MIDDAY BREAKOUTS REPORT - FRIDAY, OCTOBER 8TH, 2010
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DOW 10992.63 44.05 (0.40%) | NASDAQ 2394.01 10.34 (0.43%) | S&P 500 1164.2 6.14 (0.53%)
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Time of Screening :
10/8/2010 12:17:57 PM Report Released :
10/8/2010 2:08:23 PM
Price is:
Above 52W High and Less Than 52W High
but within 5% of the 52 Week High
Volume Is:
At least 75% of 50 Day Average at
the time of the screening.
More details about this report...
At around
mid-way through each trading day we run
a screen against our database of
high-ranked stocks, searching for
possible buy candidates that are trading
at or near their 52-week high on above
average volume. The results of that
screen are split into the two sections
you see below. The first, titled
"TODAY's FEATURED STOCKS" shows stocks
that our experts have recently
identified as among the strongest candidates to
consider. Stocks highlighted in yellow
are the most timely and noteworthy, so
particular attention and prompt action
may be appropriate. The second section,
titled "TODAY's BREAKOUT SCREEN" shows
the remainder of stocks meeting today's
screen parameters. Our experts have
reviewed and included notes on these
stocks as well, but found that they may
not match up as favorably.
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Y - Today's strongest
candidates
highlighted
by our staff
of experts.
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G - Previously featured in
this report as yellow and
now may no longer be buyable
under the guidelines.
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Symbol/Exchange
Company Name
Industry Group |
PRICE |
CHANGE
(%Change) |
Day High |
Volume
(% DAV)
(50 DAV) |
52 Wk Hi
% From Hi |
Date
Featured |
Price
Featured |
Pivot Point |
|
Max Buy |
LULU
- NASDAQ
Lululemon Athletica
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$47.66
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+2.44
5.38%
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$47.80
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1,273,206
124.63% of 50 DAV
50 DAV is 1,021,600
|
$47.95
-0.60%
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10/8/2010 |
$47.66
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PP = $46.67
MB = $49.00 |
Most Recent Note - 10/8/2010 1:27:20 PM
Y - Today's gain for a new 52-week high with above average volume has this high-ranked Retail - Apparel/Shoes/Accessories firm clear of any resistance due to overhead supply. Color code is changed to yellow with its pivot point based on its 52-week high plus ten cents. Technically, its 9/28/10 gain with above average volume helped it clear a big "double bottom" type base and trigger an earlier buy signal, followed by a quiet consolidation. The 4 latest quarterly comparisons showed strong sales revenues and impressive earnings increases (C criteria), and it maintained a good annual earnings history (A criteria) despite a patch of negative comparisons in early '09.
There are no Featured Stock Updates™ available for this stock at this time. You may request one by clicking the Request a New Note link below
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A N
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Symbol - Exchange - Industry Group
Company Name |
Last |
Chg |
Day
High |
52 WK Hi |
% From Hi |
Volume
% DAV |
DAV |
ACET
- NASDAQ - CHEMICALS - Specialty Chemicals
Aceto Corp
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$7.37 |
+0.17
2.36%
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$7.44
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$7.50
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-1.73% |
143,412
128.16%
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111,900
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Most Recent Note for ACET - 10/8/2010 12:32:54 PM
Noted in the 10/07/10 mid-day report - "Rallying to a new 52-week high with today's big gain on heavy volume leading to a technical breakout. This low-priced stock has an up and down annual earnings (A criteria) history. Recent quarterly comparisons show improving sales revenues and earnings after a streak of 5 negative comparisons."
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ADTN
- NASDAQ - TELECOMMUNICATIONS - Communication Equipment
Adtran Inc
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$35.20 |
-0.18
-0.51%
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$35.50
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$36.85
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-4.48% |
802,996
89.99%
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892,300
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Most Recent Note for ADTN - 10/8/2010 12:35:14 PM
Enduring some distributional pressure this week, it negatively reversed on 10/06/10 after hitting a new 52 week high. No overhead supply remains to act as resistance. It has been recently noted in mid-day reports - "Extended from a sound and very bullish base-on-base chart pattern it cleared in recent weeks. Recent quarters show improving sales and earnings increases after negative comparisons in '09. Annual earnings (A criteria) have been up and down and below the guidelines of the fact-based system's guidelines."
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AGU
- NYSE - CHEMICALS - Agricultural Chemicals
Agrium Inc
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$80.25 |
+4.85
6.43%
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$81.14
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$81.15
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-1.11% |
3,323,230
149.59%
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2,221,600
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Most Recent Note for AGU - 10/8/2010 12:42:16 PM
Gapped up today and hit a new 52-week high. Based on weak technical action it was dropped from the Featured Stocks list 7/25/08, and it subsequently dropped from $84.18 to $22.08 before rebounding.
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AOS
- NYSE - CONSUMER DURABLES - Electronic Equipment
Smith A O Corp
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$59.48 |
+0.44
0.75%
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$59.69
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$59.79
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-0.52% |
166,286
82.98%
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200,400
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Most Recent Note for AOS - 10/8/2010 12:44:06 PM
Recently noted in mid-day reports as it wedged to new 52-week highs, like today, without great volume conviction. Noted in the 4/20/10 mid-day report - "Recently encountering some distributional pressure after steadily climbing since gapping up on 3/23/10, reaching multi-year highs. Sales and earnings history below guidelines."
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ARG
- NYSE - WHOLESALE - Industrial Equipment Wholesale
Airgas Inc
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$67.46 |
-1.11
-1.62%
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$68.81
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$68.93
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-2.13% |
1,393,631
101.75%
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1,369,600
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Most Recent Note for ARG - 10/8/2010 12:45:34 PM
Not showing sales or earnings growth meeting the guidelines.Traded in a tight range since gapping up in Feb 2010 on merger/acquisition news.
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I M
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BORN
- NYSE - FOOD & BEVERAGE - Beverages - Wineries & Distill
China New Borun Corp Ads
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$14.35 |
+1.20
9.13%
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$14.57
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$14.58
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-1.58% |
1,022,020
167.24%
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611,100
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Most Recent Note for BORN - 10/8/2010 12:49:35 PM
Spiking higher today with a 4th consecutive gain backed by above average volume and hitting another new 52-week high. Today marks its 3rd mid-day report appearance of October, and it was previously noted - "This Chinese Beverages - Alcoholic firm has shown strong sales and earnings increases. While it faces no resistance, recent action has been erratic and it is extended from any sound base after its $7.00 IPO on 6/11/10. Wider intra-day swings in recent sessions may be considered signs of uncertainty."
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I M
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CRVL
- NASDAQ - Comml Svcs-Healthcare
Corvel Corp
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$43.97 |
-0.02
-0.05%
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$44.27
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$44.71
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-1.66% |
31,957
100.18%
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31,900
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Most Recent Note for CRVL - 10/8/2010 12:51:58 PM
Holding its ground near its 52-week high, showing healthy action. No overhead supply remains to act as resistance following its 9/20/10 technical breakout which helped it to clear a new base formed since it was noted in the 7/27/10 mid-day report - "Recent quarterly comparisons show strong earnings increases above the +25% guideline (C criteria) and sales revenues accelerating gradually from +4-14%, below growth guidelines. Its annual earnings (A criteria) history has been up and down."
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DE
- NYSE - MANUFACTURING - Farm & Construction Machinery
Deere & Co
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$75.83 |
+3.93
5.47%
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$76.26
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$76.30
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-0.62% |
6,618,484
146.82%
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4,507,800
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Most Recent Note for DE - 10/8/2010 12:56:46 PM
Gapped up today for a new 52-week high. Earnings have been up by better than +25% in the 2 most recent quarters and sales revenues increases have followed a big streak of negative comparisons.
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DLTR
- NASDAQ - RETAIL - Discount, Variety Stores
Dollar Tree Inc
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$50.05 |
+0.36
0.72%
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$50.15
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$50.15
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-0.20% |
1,302,189
83.51%
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1,559,300
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Most Recent Note for DLTR - 10/8/2010 1:06:06 PM
Hovering near its 52-week high, it is not near a sound base. As noted in prior mid-day reports - "It has a good annual earnings history and quarterly earnings increases above the +25% meet the investment system's guidelines, however sales revenues have shown just steady increases in the +12-13% range."
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DOV
- NYSE - CONGLOMERATES - Conglomerates
Dover Corp
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$54.35 |
+0.37
0.69%
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$54.88
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$55.50
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-2.07% |
1,885,232
135.28%
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1,393,600
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Most Recent Note for DOV - 10/8/2010 1:08:47 PM
Sales revenues and earnings showed increases in the 2 latest quarterly comparisons after a streak of negative comparisons. Volume-driven gains have it challenging multi-year resistance in the $54-55 area.
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ESL
- NYSE - AEROSPACE/DEFENSE - Aerospace/Defense Products & Services
Esterline Technologies
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$58.66 |
-0.77
-1.30%
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$59.45
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$59.49
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-1.40% |
139,806
84.63%
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165,200
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Most Recent Note for ESL - 10/8/2010 1:11:57 PM
Technical action (price/volume) has been strong and on the prior session it broke out. However, the erratic sales revenues and earnings history make the fundamentals questionable for this aerospace/defense firm.
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FSRV
- NASDAQ - DIVERSIFIED SERVICES - Business/Management Services
Firstservice Corp
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$25.72 |
+0.20
0.78%
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$25.85
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$25.98
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-1.00% |
32,685
147.90%
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22,100
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Most Recent Note for FSRV - 10/8/2010 1:13:51 PM
This Canadian Real Estate firm inched higher this week to new 52 week high territory. A streak of volume-driven gains was noted in recent mid-day reports as it was observed - "Historic earnings and sales revenues have been below guidelines of the fact-based investment system."
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MOS
- NYSE - CHEMICALS - Agricultural Chemicals
Mosaic Company
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$66.06 |
+4.53
7.36%
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$66.38
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$68.28
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-3.25% |
8,013,058
144.27%
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5,554,400
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Most Recent Note for MOS - 10/8/2010 1:31:03 PM
Gapped up today, rallying near its 52-week high. Improving sales revenues growth and solid earnings increases in the 3 latest quarterly financial reports are reassuring signs, but its erratic annual earnings (A criteria) history is a cause for concern, fundamentally.
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MSCC
- NASDAQ - ELECTRONICS - Semiconductor - Integrated Cir
Microsemi Corp
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$19.57 |
+0.03
0.17%
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$19.75
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$19.75
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-0.90% |
557,583
82.52%
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675,700
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Most Recent Note for MSCC - 10/8/2010 1:37:04 PM
Following a breakaway gap on 10/04/10 it has steadily risen, and today it is on track for a 5th consecutive gain with above average volume. The 2 most recent quarters showed sales and earnings improving, but its prior quarterly and annual earnings (A criteria) have been below guidelines. It was dropped from the Featured Stocks list on 3/09/06 and it has sputtered for a long time.
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WIT
- NYSE - COMPUTER SOFTWARE & SERVICES - Business Software & Services
Wipro Ltd Adr
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$15.65 |
+0.10
0.64%
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$15.74
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$15.95
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-1.88% |
469,508
108.66%
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432,100
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Most Recent Note for WIT - 10/8/2010 1:48:08 PM
Holding its recent gains stubbornly after spiking to a new 52-week high and technically breaking out on 10/01/10. No overhead supply remains to act as resistance. However, it has a large supply of 2.44 billion shares (S criteria) outstanding, making it not a likely sprinter. Recent quarterly comparisons showed earnings increases above the +25% guideline, satisfying the C criteria. Sales revenues increases in the +10-21% are an improvement after a patch of weaker or negative comparisons. Its annual earnings (A criteria) history has also been mostly strong and steady. This Indian IT firm was was dropped from the Featured Stocks list on 2/28/07 and it subsequently sank from $17.51 to as low as $5.04 before rebounding.
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WYNN
- NASDAQ - LEISURE - Gaming Activities
Wynn Resorts Ltd
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$93.00 |
+3.74
4.18%
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$93.33
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$95.88
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-3.00% |
2,247,042
85.17%
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2,638,200
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Most Recent Note for WYNN - 10/8/2010 2:08:02 PM
Rallying near its 52-week high after 5 months of base building in the $71-95 range. Its latest quarterly comparisons showed improving sales and earnings but its prior earnings history is below guidelines of the fact-based investment system. Based on weak technical action it was dropped from the Featured Stocks list 11/8/07 and subsequently fell from $136 to as low as $14.50 in March '09 before rebounding. Traded up +43% after it was featured in the 8/26/07 Special Report titled ''7 Stocks That Should Now Be On Your Watch List'' with annotated graphs and commentary including our detailed CANSLIM.net Profile, What To Look For And What To Look Out For, and Technical Analysis summaries (read here).
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THESE ARE NOT BUY RECOMMENDATIONS!
Comments contained in the body of this report are technical
opinions only. The material herein has been obtained
from sources believed to be reliable and accurate, however,
its accuracy and completeness cannot be guaranteed.
We are not an investment advisor, hence it does
not endorse or recommend any securities or other investments.
Any recommendation contained in this report may not
be suitable for all investors and it is not to be deemed
an offer or solicitation on our part with respect to
the purchase or sale of any securities. All trademarks,
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are the property of their respective owners, and are
likewise used for identification purposes only.
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