Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Do Or Die

Relative Strength

Recommended Posts

Hi,

 

In my other thread http://www.traderslaboratory.com/forums/technical-analysis/10120-relative-strength-internal.html, I introduced the concept of RS. That one will be open for discussions relating to internal relative strength of a stock. In this one I will share some RS concepts which are used by professional investors worldwide. Unlike most of Technical Analysis, RS has been validated and accepted by academicians (the other two important concepts being momentum and mean reversion).

 

For Stocks RS is used to gauge their strength against the entire stock market (through SnP 500, DOW), or against their peer group. CANSLIM is a popular method which uses RS for investing.

 

RS for an industry group/sector is measured against the broader index to measure its upside potential. Sector Rotation Model is the most important work in this regards which shows how different stock sectors perform in different stages of the market.

 

There is a lot of stuff I plan to post related to RS; not just about stocks but all important asset classes; and not just about investing but different time frames for trading.

 

:missy:

DD

Edited by Do Or Die

Share this post


Link to post
Share on other sites

A basic example to get started:

 

In a rising market, most stocks will be dragged along with it and continue to rise. However, there RS may start showing weakness, which means that there is a loss in actual demand (buying) which is being marked by the favorable price increase of the stock. In reality the stock is not keeping with the rest of market, not even costing on the free ride given by the general bullish sentiment in the market. How serious this warning sign can be depends from case to case, because in longer time frames, each market cycle may be different from past ones. In general the stock is likely to ‘roll over’ down once the buying enthusiasm vanishes. In extreme cases, the stock will drop down like a stone once the market tops out.

 

Stock groups behave in a similar fashion. To profit from this analysis, you can exit with profit when the stock is peaking out and safeguard from the cash. Alternatively you can find good short/ultrashort ETFs and enjoy the crash.

 

The best example is the finance stocks which peaked out way before the market during the credit crisis. As seen in attached chart of BAC, its RS started to decline mid-2006, while the market peaked in late 2007.

 

The second chart is of YRCW, picked from discussion in the other thread: http://www.traderslaboratory.com/forums/technical-analysis/10184-am-i-doing-right.html#post121967. From prices alone it may seem that the stock is just moving up and down wildly, but the crushed RS indicates that the stock may be in BIG trouble.

 

:missy:

DD

BAC.thumb.png.542709cd6b9a63f47894cd0929d1d3c2.png

YRCW.thumb.png.0f33bc3039530cb470eb611f784b070f.png

Edited by Do Or Die

Share this post


Link to post
Share on other sites

Hello Do or Die,

 

 

can you comment how this lady derive her RS and her moneywave?

 

Joanne Klein (10 Per Page) - Public ChartList - Free Charts - StockCharts.com

 

thank you.

 

Hi,

 

In my other thread http://www.traderslaboratory.com/forums/technical-analysis/10120-relative-strength-internal.html, I introduced the concept of RS. That one will be open for discussions relating to internal relative strength of a stock. In this one I will share some RS concepts which are used by professional investors worldwide. Unlike most of Technical Analysis, RS has been validated and accepted by academicians (the other two important concepts being momentum and mean reversion).

 

For Stocks RS is used to gauge their strength against the entire stock market (through SnP 500, DOW), or against their peer group. CANSLIM is a popular method which uses RS for investing.

 

RS for an industry group/sector is measured against the broader index to measure its upside potential. Sector Rotation Model is the most important work in this regards which shows how different stock sectors perform in different stages of the market.

 

There is a lot of stuff I plan to post related to RS; not just about stocks but all important asset classes; and not just about investing but different time frames for trading.

 

:missy:

DD

Share this post


Link to post
Share on other sites
Hello Do or Die,

 

 

can you comment how this lady derive her RS and her moneywave?

 

Joanne Klein (10 Per Page) - Public ChartList - Free Charts - StockCharts.com

 

thank you.

 

Hi,

 

The RS is probably calculated by comparing to market index & peer stocks/etfs. I will have to study atleast 20 charts of her to decrypt it- doubt if it will worth the effort.

 

The "Money Wave" is nothing more than a slight variation of popular stochastics :rofl: (see attached)

 

:missy:

DD

joaane.thumb.png.ccfb06c87d3a5dbf1430b9f0d085f5f8.png

Share this post


Link to post
Share on other sites
Hi,

 

The RS is probably calculated by comparing to market index & peer stocks/etfs. I will have to study atleast 20 charts of her to decrypt it- doubt if it will worth the effort.

 

The "Money Wave" is nothing more than a slight variation of popular stochastics :rofl: (see attached)

 

:missy:

DD

Hello Do or Die,

 

i will really appreciate it if you can shed some light on how she create her indicators in the chart.

 

thank you

 

-zhaozilong

Share this post


Link to post
Share on other sites

i will really appreciate it if you can shed some light on how she create her indicators in the chart.

 

To Clarify:

 

She is a paid member of stockcharts.com and can create custom indicators but you cannot.

 

You can go to any charting website like freestockchart.com and can plot Stochastics with parameters (8,3) to replace her Money Wave.

 

For Relative Strength score refer to YRCW example and my methodology in this post. You can see in the latter example that I posted a list of stocks based on how they have performed relatively during a certain time interval. She is doing exactly the same with an added thin layer for discretionary analysis.

 

As an advice stop hunting for the easy way- plotting the holy grail indicator. Try to work out the methodology- its all basics.

Share this post


Link to post
Share on other sites

Okay, I've quantified the concepts discussed in this thread and the RS-Internal one. The three most important factors have been quantified on a scale of -100 to +100. (-100 means extremely bearish while +100 means extremely bullish). There are no fancy formulas used, just the concepts I've stated so far.

 

This is the market state for yesterday close. The RS internal anticipates the immediate move, while the RS with respect to S&P suggests how stronger the mid-term trend is.

 

Comments welcome!

 

attachment.php?attachmentid=25898&stc=1&d=1314292348

Graph38.thumb.jpg.2c8de548122349db124dc25fdde4a6d3.jpg

Share this post


Link to post
Share on other sites

Some changes:

 

  • I found a problem with my earlier normalization method and rectified it (has no change on overall view)
  • Added some colors for easier visualization
  • Would like to add peer group comparison (currently its only with broad market)
  • Would like to refine internal rs

 

attachment.php?attachmentid=25910&stc=1&d=1314366631

1.png.cb359c69b172e70b269d4f83e7b57bd8.png

Share this post


Link to post
Share on other sites

DJI Components Overview:

 

  • Trend Strength refers to mid-term trend (similar to 50 day moving average)
  • RS Internal refers to immediate expected movement
  • RS (S&P) refers to how well the sector is performing relative to overall market
  • -100 means extremely bearish and +100 means extremely bullish

 

 

 

attachment.php?attachmentid=25916&stc=1&d=1314381861

1.thumb.png.f503336084fa9dbea8926ee1937de1ac.png

Edited by Do Or Die

Share this post


Link to post
Share on other sites

Hi do or die,

 

I have been trading some variation of CANSLIM with technicals for around a year at this point.

 

Sector rotation with ETFs is interesting and has been validated through many different groups of people (as you mentioned) backtests.

 

What I am wondering is, to catch the large return potential of equities in the CANSLIM universe, could one employ a top down rotation strategy rotating every month into the top 3 sectors and within each sector into the top 1 or 2 stocks?

 

Looking forward to a reply as well as recomendation where I can obtain any relevant literature.

 

 

Thanks.

Share this post


Link to post
Share on other sites

Kidpwrtrader,

 

I'm a little confused by your statement... canslim is not that effective if the stocks are rotated every month, it is used for investing.

 

Regarding resources for research- I cannot recall any. In any case, each business cycle is different in form from the previous one, so theory may not help. You must be tracking stocks and sectors performance, that should help much.

 

BTW Piotroski Score may be of interest:

Piotroski Profits - Forbes.com

The Piotroski Score

Share this post


Link to post
Share on other sites

Yes Kidpwrtrader, but I also mentioned that it is for the sake of illustrating the 'edge' or advantage sector rotation provides. People tend to invest in broad market indexes- sector rotation through ETFs definitely goes better than that.

 

But you are one step ahead- tracking individual stocks and not just sector indices. So if you have found a good stock, it's better to hold it unless it hits a trailing stop-loss, or it nullifies the premise on which you invested in the first place. BTW I do not mean trailing stops similar to short-term trading; when we buy a stock for gains over 100% a 30% trailing stop should be good as well.

 

Monthly ETF rotation is for people who cannot afford more than 30 minutes per week or who are absolutely new to stock market.

Share this post


Link to post
Share on other sites
Will you be going over this type of investing/trading in addition to the material you currently presented? I would be interested in seeing some insight...

 

See last few posts for example. http://www.traderslaboratory.com/forums/technical-analysis/10509-moment-truth-stock-investors-4.html#post126037

 

As the market stabilizes, Technology and Financials will outperform- they did last week and will continue so until S&P starts crashing again. IBM and AAPL both look good for short-term. For 2-3 months holding, many ETFs mentioned here were selling cheap, so no harm in buying the moment market takes support.

 

Currently I have hardly 20% of money in pure investments, rest is short-term to mid-term trading.

Share this post


Link to post
Share on other sites

Hi Do Or Die.

relative strength between entire market and a single stock can be done by simple dividing.

but how to calculate comparative relative strength?

i mean normalization to compare the relative strength of two different stocks.

i've tried 'ROC of Stock / ROC of Entire Market' to achieve this but no luck.

i'm asking that how William O'neil calculated the relative strength score.

Thanks

Share this post


Link to post
Share on other sites

i mean normalization to compare the relative strength of two different stocks.

i've tried 'ROC of Stock / ROC of Entire Market' to achieve this but no luck.

i'm asking that how William O'neil calculated the relative strength score.

Thanks

 

Say you want to compare RS for last 30 days. First calculate % change of stocks in last 30 day . With this data alone you can rank stocks by their relative performance. For a more 'visual' RS score, subtract that by % change of base index in last 30 days.

 

I prefer subtraction to division because division tends to unnecessarily amplify relative performance. I do not recall how O'neil calculates but this is what it is.

 

BTW, are you calculating it in Excel?

Share this post


Link to post
Share on other sites
BTW, are you calculating it in Excel?

 

Thanks for answer.

No i've plotted the RS indicator below price as stockcharts does.

it works pretty good for a single stock. but doesn't work for comparing plural stocks

however i prefer to plotting moving averages of RS together as we normally do on price.

i don't buy stocks when their RS is below 200MA of RS :)

Share this post


Link to post
Share on other sites

Excel can be really good... you can get all data from yahoo and templates are around the web for popular indicators. If you can afford some time to learn get a strategy design software like Ninjatrader.

Share this post


Link to post
Share on other sites
Say you want to compare RS for last 30 days. First calculate % change of stocks in last 30 day . With this data alone you can rank stocks by their relative performance. For a more 'visual' RS score, subtract that by % change of base index in last 30 days.

 

I prefer subtraction to division because division tends to unnecessarily amplify relative performance. I do not recall how O'neil calculates but this is what it is.

 

BTW, are you calculating it in Excel?

 

Hello DorD

 

I was wondering if you could provide an example using a simple calculation? I do use Excel

 

Cheers mate

Share this post


Link to post
Share on other sites
I was wondering if you could provide an example using a simple calculation? I do use Excel

 

"Say you want to compare RS for last 30 days. (Simply) calculate % change of stocks in last 30 day . With this data alone you can rank stocks by their relative performance. For a more 'visual' RS score, subtract that by % change of base index in last 30 days.

 

I prefer subtraction to division because division tends to unnecessarily amplify relative performance."

Share this post


Link to post
Share on other sites

The stock with the best performance is relatively strongest; the stock with 5th best performance has RS rank of 5 and so on icon7.gif

 

To plot RS as an indicator, most software use the formula= Stock_Price/Base_Index_Price *100

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • lmfx just officially launched their own LMGX token, Im planning to grab a couple of hundred and maybe have the option to stake them. 
    • Date: 2nd April 2025.   Market on Edge: Tariff Announcement and Volatility Ahead!   The US economic and employment data continues to deteriorate with the job vacancies figures dropping to a 5-month low. In addition to this, the IMS Manufacturing PMI also fell below expectations. However, both the US Dollar and Gold declined simultaneously following the release of the two figures, an uncommon occurrence in the market. Traders expect a key factor to be today’s ‘liberation day’ where the US will impose tariffs on imports. USDJPY - Traders Await Tariff Confirmation! Traders looking to determine how the USDJPY will look today will find it difficult to determine until the US confirms its tariff plan. Today is the day when Trump previously stated he would finalize and announce his tariff plan. The administration has not yet released the policy, but investors expect it to be the most expansionary in a century. President Trump is due to speak at 20:00 GMT. On HFM's Calendar the speech is stated as "US Liberation Day Tariff Announcement". Currently, analysts are expecting Trump’s Tariff Plan to impose tariffs on the EU, chips and pharmaceuticals later today as well as reciprocal tariffs. Economists have a good idea of how these tariffs may take effect, but reciprocal tariffs are still unspecified. In addition to this, 25% tariffs on the car industry will start tomorrow. The tariffs on the foreign cars industry are a factor which will particularly impact Japan. Although, traders should note that this is what is expected and is not yet finalised. Last week, President Trump stated that he would implement retaliatory tariffs but allow exemptions for certain US trade partners. Treasury Secretary Mr Bessent and National Economic Council Director Mr Hassett suggested that the restrictions would primarily target 15 countries responsible for the bulk of the US trade deficit. However, yesterday, Trump contradicted these statements, asserting that additional duties would be imposed on any country that has implemented similar measures against US products. The day’s volatility will depend on which route the US administration takes. The harshness of the policy will influence both the Japanese Yen as well as the US Dollar.   USDJPY 5-Minute Chart   US Economic and Employment Data The JOLT Job Vacancies figure fell below expectations and is lower than the previous month’s figure. The JOLT Job Vacancies read 7.57 million whereas the average of the past 6 months is 7.78 million. The ISM Manufacturing Index also fell below the key level of 50.00 and was 5 points lower than what analysts were expecting. The data is negative for the US Dollar, particularly as the latest release applies more pressure on the Federal Reserve to cut interest rates. However, this is unlikely to happen if the trade policy ignites higher and stickier inflation. In the Bank of Japan’s Governor's latest speech, Mr Ueda said that the tariffs are likely to trigger higher inflation. USDJPY Technical Analysis Currently, the Japanese Yen Index is the worst performing of the day while the US Dollar Index is more or less unchanged. However, this is something traders will continue to monitor as the EU session starts. In the 2-hour timeframe, the USDJPY is trading at the neutral level below the 75-bar EMA and 100-bar SMA. The RSI and MACD is also at the neutral level meaning traders should be open to price movements in either direction. On the smaller timeframes, such as the 5-minute timeframe, there is a slight bias towards a bullish outcome. However, this is only likely if the latest bearish swing does not drop below the 200-Bar SMA.     The key resistant level can be seen at 150.262 and the support level at 149.115. Breakout levels are at 149.988 and 149.674. Key Takeaway Points: Job vacancies hit a five-month low, and the ISM Manufacturing PMI missed expectations, adding pressure on the Federal Reserve regarding interest rate decisions. Traders await confirmation on Trump’s tariff policy, which is expected to impact the EU, chips, pharmaceuticals, and foreign car industries. The severity of the tariffs will influence both the JPY and the USD, with traders waiting for final policy details. The Japanese Yen Index is the worst index of the day while the US Dollar Index is unchanged. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • HLF Herbalife stock, watch for a bull flag breakout above 9.02 at https://stockconsultant.com/?HLF
    • Date: 1st April 2025.   Will Gold’s Rally Hold Strong as New Trade Tariffs Take Effect Tomorrow?   Gold continues to increase in value for a sixth consecutive day and is trading more than 17% higher in 2025. Amid fear of higher inflation, a recession and the tariffs war escalating investors continue to invest into Gold pushing demand higher. The trade policy from April 2nd onwards continues to be a key factor for the whole market. Can Gold maintain its upward trend? Trade Policy From Tomorrow Onwards Starting as soon as tomorrow, a 25% tariff will be imposed on all passenger cars imported into the United States. While this White House policy is anticipated to negatively affect European industrial performance, it will also lead to higher transportation and maintenance costs for everyday American taxpayers. The negative impact expected on both the EU and US is one of the reasons investors continue to buy Gold. Additionally, last month, President Donald Trump announced reciprocal sanctions against any trade partners that impose import restrictions on US goods. Furthermore, tariffs on products from Canada and the EU could increase even more if they attempt to coordinate a response. Overall, investors continue to worry that new trade barriers will prompt retaliatory measures, particularly from China, the Eurozone, and Japan. Any retaliation is likely to escalate the trade conflict and prompt another reaction from the US. Experts at Goldman Sachs and other investment banks warn that this will lead to rising inflation and unemployment. They also caution that it could effectively halt economic growth in the US.   XAUUSD 1-Hour Chart   The Weakness In The US Dollar Another factor which is allowing the price of XAUUSD to increase in value is the US Dollar which has been unable to maintain any bullish momentum. Despite last week’s Core PCE Price Index rising to its highest level since February 2024, the US Dollar has been unable to see any significant rise in value. Due to the US Dollar and Gold's inverse correlation, the price of Gold is benefiting from the Dollar weakness. Investors worry that new trade barriers will prompt retaliatory measures from China, the Eurozone, and Japan, potentially escalating the conflict. Experts at The Goldman Sachs Group Inc. believe that such actions by the US administration will drive rising inflation and unemployment while effectively halting economic growth in the country. Can Gold Maintain Momentum? When it comes to technical analysis, the price of Gold is not trading at a price where oscillators are indicating the instrument is overbought. The Relative Strength Index currently trades at 68.88, outside of the overbought area, since Gold’s price fell 0.65% during this morning’s session. However, even with this decline, the price still remains 0.40% higher than the day’s open price. In terms of fundamental analysis, there continues to be plenty of factors indicating the price could continue to rise. However, the price movement of the week will also partially depend on the employment data from the US. The US is due to release the JOLTS Job Vacancies for February this afternoon, the ADP Non-Farm Employment Change tomorrow, and the NFP Change and Unemployment Rate on Friday. If all data reads higher than expectations, investors may look to sell to lock in profits at the high price. Key Takeaway Points: Gold’s Rally Continues – Up 17% in 2025 as investors seek safety from inflation, recession fears, and trade tensions. Trade War Impact – New US tariffs and potential retaliation from China, the EU, and Japan drive uncertainty, boosting Gold demand. Weak US Dollar – The Dollar’s struggle supports Gold’s rise due to their inverse correlation. Gold’s Outlook – Uptrend may continue, but US jobs data could trigger profit-taking. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date: 31st March 2025.   Trump Confirms Tariffs on All Countries, Sending Stocks Lower.   The NASDAQ continues to trade lower due to the US confirming the latest tariffs will be on all countries. In addition to this, bearish volatility also is largely due to the higher inflation data from Friday. The NASDAQ declines to its lowest price since September 11th 2024. Core PCE Price Index - Inflation Increases Again! The PCE Price Index read 2.5% aligning with expert forecasts not triggering any alarm bells. However, the Core PCE Price Index rose from 0.3% to 0.4% MoM and from 2.7% to 2.8% YoY, signalling growing inflationary pressure. This increases the likelihood that the Federal Reserve will maintain elevated interest rates for an extended period. The NASDAQ fell 2.60% due to the higher inflation reading which is known to pressure the stock market due to pressure on consumer demand and a more hawkish Federal Reserve. Boston Fed President Susan Collins recently commented that tariffs could drive up inflation, though the long-term impact remains uncertain. She told journalists that a short-term spike is the most probable outcome but believes the current pause in monetary policy adjustments is appropriate given the prevailing uncertainties. Although, certain investment banks such as JP Morgan actually believe the Federal Reserve will be forced into cutting rates. This is due to expectations that the economy will struggle under the new trade policy. For example, JP Morgan expects the Federal Reserve to delay rate cuts but will quickly cut towards the end of 2025. Market Risk Appetite Takes a Hit! A big factor for the day is the drop in the risk appetite of investors. This can be seen from the VIX which is up almost 6%, Gold which is trading 1.30% higher and the Japanese Yen which is the day’s best performing currency. Most safe haven assets, bar the US Dollar, increase in value. It is also worth noting that all indices are decreasing in value during this morning's Asian session with the Nikkei225 and NASDAQ witnessing the strongest decline. Previously the stock market rose in value as investors heard rumours that tariffs would only be on certain countries. This bullish swing occurred between March 14th and 25th. Over the weekend, President Donald Trump indicated that the upcoming tariffs would apply to all countries, not just those with the largest trade imbalances with the US. NASDAQ - Technical Analysis In terms of technical analysis, the NASDAQ continues to obtain indications that sellers control the price action. The price opens on a bearish price gap measuring 0.30% and trades below all Moving Averages on all timeframes. The NASDAQ also trades below the VWAP and almost 100% of the most influential components (stocks) are declining in value.     The next significant support level is at $18,313, and the resistance level stands at $20,367.95. Key Takeaway Points: NASDAQ falls to its lowest since September 2024 as the US confirms tariffs on all countries, adding to inflation concerns. Core PCE inflation rises to 0.4% MoM and 2.8% YoY, increasing the likelihood of prolonged high interest rates. Investor risk appetite drops as VIX jumps 6%, gold gains 1.3%, and safe-haven assets outperform. NASDAQ shows strong bearish momentum, trading below key technical levels with support at $18,313 and resistance at $20,367.95. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.