Markets were unable to recover from the gloom (reality?) Fed Chair Powell spread early in the day.  So, the bears had their second day in charge.  The SPY fell 1.77%, the DIA fell 2.21%, and QQQ fell 1.25%.   VXX climbed another 10% back to 39.65 and oddly the T2122 4-week high-low ratio climbed back into overbought territory at 85.37.  The 10-year bond yield was down slightly to 0.654% and Oil (WTI) rose again to $25.70/barrel.

As mentioned, Chair Powell painted a gloomy picture of the economy and, as was expected, he also knocked the idea of negative rates as an unsettled policy without proven benefits while it is proven that it hurts banks and their ability to lend.  GS later made comment on Powell’s testimony saying it fears a second-wave of virus infections and, in that case, they feel the Fed would consider negative rates.  However, like Powell, they also don’t think that action would be very helpful to the economy.  Later, analysts began saying, based on the gloomy picture the Fed members are painting, they now expect the Fed to announce another large QE program at or before its June meeting (which markets would love).

On the Virus front itself, the global headline numbers are 4,452,777 confirmed cases and 298,737 deaths.  In Russia, the runaway spread continues with another day of record new cases (raising it to have the second most cases to the US).  The EU also told its member nations to only receive tourists this summer if their situation allows, including current case trends, having enough testing/tracing capacity, etc.  This was significant because tourism accounts for 10% of the EU’s GDP. Meanwhile, Japan says a treatment trial using recovered patients’ plasma will begin in July.

In the US, we have 1,430,348 confirmed cases and 85,197 deaths. In business, AMZN said it will rollback wage increases and cut overtime rates on May 30 as it feels the hazards have now passed.  (An interesting claim since it also announced separately that it is now designing and will sell face shields for frontline workers.)  However, in a good sign, MA announced it is seeing signs of improvement in consumer spending as charges were down 6% from a year ago, but up 16% from a month ago.

Overnight, Asian markets were all significantly in the red.  In Europe, the same is true will all major markets even more deeply red so far today.  As of 7:30 am, US futures are waiting on the jobless claims number, but are on the red side of flat, now pointing to a 0.20%-0.40% gap higher at the open. 

The major economic news for Thursday is limited to Apr. Imports / Exports and Weekly Jobless Claims (both at 8:30 am) and 2 more Fed speakers.  Major earnings reports are also very light with JWN and NCLH reporting before the open and AMAT, CVET, and NLOK reporting after the close.. 

A small dose of reality has hit the bulls in the last couple of days.  Those losses make the last month look both choppy and range-bound in retrospect.  Don’t expect this setback to last long as every day more businesses and areas of the country reopen.  However, the prospect of a second wave caused by poor adherence to guidelines will loom for months, even if it does not materialize.  So, the short-term pullback continues and volatility remains high.  Continue to focus on the short-term chart in front of you.  Don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade Ideas for your consideration and watchlist today: No trade ideas for Thursday. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Markets were rattled as they digested CPI falling in the largest drop since the 2008 financial crisis.  (Fear being that the Fed may feel the need to act to curb deflation, thus turning off the faucet.)  The SPY also failed at previous high resistance for the third straight day.  By day end, all 3 major indices printed large, ugly Bearish Engulfing candles.  On the day the SPY fell 2.03%, the DIA fell 1.90%, and the QQQ fell 2.09%.  The VXX jumped 10% as you’d expect to close at 35.95.  At the same time, 10 10-year bond yield fell to 0.667 and Oil (WTI) climbed to $25.34/barrel.

During the day there was a fair bit of news out of Capitol Hill.  St. Louis Fed President Bullard warned of business failures on a grand scale (if the shutdown persists) and Dallas Fed President Kaplan said there will be a need for more fiscal stimulus as jobless rates continue to rise.  On cue, House Democrats put forward another $3 trillion relief bill, which includes $1 trillion for state and local governments, $1,200 more per person in family relief, $200 billion for essential worker hazard pay, etc.  However, this bill was known to be dead on arrival in the Senate and was primarily meant to force Republicans to put their own ideas on paper to start negotiations.  Dr. Fauci (NIH) also testified that he is concerned that if states open too quickly the country risks multiple outbreaks and a setback in the economic recovery. 

In business news, BA released word that customers had canceled orders for another 108 of their 737 Max planes in April. The company still has a 4,800-plane backorder list, but cancellations are accelerating and BA said they expect one of the major US Airlines (their customers) to declare bankruptcy before year-end (likely voiding that carrier’s orders).  Elsewhere, 13 state Attorneys General have called for AMZN to provide data on employees who have tested positive or died, while asking the company to reinstate its policy of unlimited unpaid time off and sick leave related to the virus.

On the Virus front itself, the global headline numbers are 4,361,654 confirmed cases and 293,287 deaths.  In Europe, Italy reported a second straight day of uptick in new cases.  Spain announced it will keep borders closed until July.  France also extended its state of emergency through July 10, but easing measures remain in place.  In the UK, Finance Minister told Parliament that they project the country will fall into a significant recession this year but also reported a contraction that was less than expected last month.  Meanwhile, in Asian, India has passed a $266 billion virus relief bill and released 17,000 prisoners to curb prison outbreaks.  Finally, China is scrambling to retest the entire city of Wuhan to curb its new outbreak.  They said they will test all 11 million residents over the next 10 days.  They have also locked down cities in the North (near North Korea) where clusters of new cases have been found.

In the US, we have 1,408,636 confirmed cases and 83,425 deaths.  New Orleans announced that face coverings will be mandatory when they start to reopen on Saturday.  Meanwhile, Los Angeles announced it expects to remain under lockdown for at least a few more months.  Finally, Illinois reported over 4,000 new cases on Tuesday, a record high.  However, this may be due to also performing a record number of tests (29,000) on the day.

Overnight, Asian markets were again mixed.  The moves were smaller again as well, with the exception of India which was up 2% on their stimulus news.  In Europe, markets are strongly red across the board at this point in the day.  As of 7:30 am, US futures are on the green side of flat, now pointing to a 0.20%-0.50% gap higher at the open. 

Fed Chair Powell speaks today (9 am) and is expected to shut down any talk of negative rates even after the President tweeted again that the US should have negative rates. However, the other major economic news for Wednesday is limited to Apr. PPI (8:30 am) and Oil Inventories (10:30 am).  Major earnings reports are also light with SNE and ARCO reporting before the open and CSCO, FLO, STE, and OII reporting after the close.

The trend remains bullish, but ugly candles Tuesday prove that overhead resistance is significant.  Markets seem to be pausing as analysts and experts continue to express fear over the strength of the economic recovery and the risks reopening poses.  So, a pullback may be in order short-term.  Either way, we are likely to keep seeing volatility every day.  So, focus on the short-term chart in front of you.  Don’t chase and remain cautious about longer-term swing trades, unless you can take some short-term pain. 

Ed

Trade Ideas for your consideration and watchlist today: No trade ideas for Wednesday. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

The week started with a small gap lower, but the bulls stepped in quickly to lead a slow and steady recovery to the highs by mid-afternoon.  However, the last 2 hours were a bit of a roller coaster ride that ended the day near where we closed Friday.  That said, the tech names helped the NASDAQ outperform Monday.  On the day the SPY was up 0.06%, the DIA down 0.44%, and the QQQ up 0.89%.  VXX fell more than expected to 32.70 and the T2122 also fell sharply to 72.11, once again outside of the overbought area.  The 10-year bond yield rose to 0.71% while Oil (WTI) was flat at $24.73/barrel.

In relief/political news, it was announced Monday that there is now a Republican co-sponsor and 2-3 Republican Senators “almost willing” to support a bill sending $500 billion in money to state and local governments.  Meanwhile, on the House side, they have pushed off any vote for another relief bill until at least Friday (perhaps waiting on the Senate).  Finally, Dr. Fauci (NIH) will be testifying to the Senate as Congress begins their oversight hearings of virus and relief programs. On top of that, the Fed will also start its corporate bond-buying program today by buying specific ETFs (that hold bonds downgraded during virus).  There was no word on which ETFs they will buy.

On the Virus front itself, the global headline numbers are 4,274,648 confirmed cases and 287,670 deaths.  In Asia, the uptick continues with clusters of new cases found in China (including Wuhan), South Korea, Japan, and Singapore.  The good news there is that the clusters are small-enough and testing/tracing capability large enough in those places that the “uptick” at least has the strong potential to be stopped before it becomes widespread.

In the US, we have 1,385,893 confirmed cases and 81,796 deaths.  New York state announced that 3 of its rural regions are ready to open on Friday.  In the oil patch, pipeline company ETP said about 25% of US shale fields that had been shut down have now been turned back on at least in the Permian Basin. Meanwhile, in CA, TSLA reopened its Fremont plant in spite of County Health Department orders.  The Governor of CA said he was unaware but will look into the matter, but city and county law enforcement did not intervene.

Overnight, Asian markets were mixed, but mostly red for Tuesday.  Again, this was mostly on small moves (closer to flat), with the exceptions of Hong Kong and Australia, which were both down over a percent.  In Europe, markets are mixed so far, but on the green side, with only the FTSE (+0.96%) near a 1% move.  As of 7:30 am, US futures are on the green side of flat, now pointing to a 0.20% gap higher at the open. 

The major economic news for Tuesday includes Apr. CPI (8:30 am), FOMC Speakers (Harker and Quarles both at 10 am), 10-yr Bond Auction (1 pm), Apr. Budget Bal (2 pm), and FOMC Speaker (Mester at 5 pm).  However, among major companies, AGN, DUK, HMC, IR, MAC, and VSH also all report before the open.

The bulls still have control of the momentum.  However, resistance is close overhead and it seems like markets are showing some caution, perhaps due to fear about the speed or strength of the reopening.  Keep in mind that we are seeing volatility every day, with a lot of gaps and reversal action.  So, focus on the short-term chart in front of you.  Don’t chase and remain cautious about longer-term swing trades, unless you can take some short-term pain.  However, the trend is clearly bullish.

Ed

Trade Ideas for your consideration and watchlist today: MGNX, LXRX, MYGN, BECN, TLRY, JAZZ, FRPT, DISH, MUR, AMLP. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

The bulls ran hard on Friday, gapping up over a percent and then, after brief “fade the gap” profit-taking, ran steadily all day.  The “reopen stocks” such as MGM, DIS, and airlines like DAL and AAL led the way.  Prices also closed very near the highs.  On the day the SPY gained 1.65%, the DIA gained 1.97%, and the QQQ gained 1.37%.  The VXX was down briskly to 34.95 while the 4-week High Low Ratio T2122 spiked up into overbought territory again at 91.02.  The 10-year bond yield was up to 0.685% and Oil (WTI) also gained to $24.63/barrel.

As expected, the April jobs number showed heavy job losses (-20.5 million) to raise the unemployment rate to 14.7%. However, this is less than half of the 30% predictions of some unhappy with a shutdown had predicted.  Even if the worse lies ahead, at the very least, the market now seems to have moved well past concern for the economy as all the major indices are up 35% off the lows at the end of March (and QQQ is within 5.5% of all-time highs again). 

For their part, the Fed is comfortable enough with the economic situation (or at least the market) that they will reduce bond-buying to $7 billion per day this week.  Yet, at the same time, on Sunday Fed voter Kashkari said the true unemployment rate is 23-24%.  He said while the Fed will do everything it can, but he still urged the fiscal side (Congress and President) to do more to help the public as he expects a gradual (not rapid) recovery.  Treasury Sec. Mnuchin seemed to agree, saying unemployment is likely higher than reported Friday and he expects things to get worse before they get better.

However, President Trump and Republicans seem to disagree. Both say now that businesses have the stimulus needed (to survive), they are in no hurry to do additional relief.  The idea is that financial hardship for individuals might help force the high unemployment numbers back down.  In addition, by rejecting CDC guidelines the administration has already removed potential roadblocks to rapid rehiring (at the risk of potential relapse).  Of course, this may just be posturing ahead of more negotiations with Democrats. The Republicans want more tax cuts and the Democrats want both more relief (for State/local governments and another round of payments for the public) as well as an infrastructure bill.

On the Virus front itself, the global headline numbers are 4,200,957 confirmed cases and 284,150 deaths.  In Asian, South Korea reported a new outbreak (nightclub related) and Japan also saw a cluster of cases in Tokyo. However, the good news continues in Western Europe with steady declines in new case rates in most countries.  The outliers are the UK (just now plateauing as the last European country to lock-down), and Russia (which is still in epidemic mode, seeing a new record high number of cases each day).  However, the UK did begin its reopening by “actively encouraging” people to return to work (while also avoiding public transport) as of today. Likewise, France also began its reopening on Monday.

In the US, we have 1,367,963 confirmed cases and 80,787 deaths. The impact of reopening remains unclear at this point. Some states that have at least partially reopened, such as CA, TX, OH, CO, and NC are seeing significant increases in new case rates again.  However, other states doing the same, such as FL and GA, are not seeing increases.  It’s unknown if this anomaly is due to differences in testing or some other variable. On the other hand, there is no hard data yet, but there have been significant anecdotal reports that both public participation in reopening and adherence to guidelines is sporadic nationwide.  So, we have not seen the hoped-for economic impact, nor have we seen a universal strong increase in spread either.

Overnight, Asian markets were mixed on Monday, but with smaller moves.  The exceptions were Japan (+1.05%) and Hong Kong (+1.53%).  In Europe, markets are decidedly in the red so far today.  However, like Asia, more European moves have been smaller as of now, with the exception of France (-1.41%).  As of 7:30 am, US futures are pointing to a half of a percent gap lower at the open.   

There is no major economic news for Monday.   However, AEE, AN, CAH, COTY, ET, ETR, MAR, MGLN, MYL, ON, UA, UAA, UNVR, and ZBH all before the open.

The bulls remained in rally mode last week.  However, resistance is close overhead.  Remember that volatility is a constant now for traders, with a lot of “gap and fade” action.  So, focus on the short-term chart in front of us.  Remain cautious about longer-term swing trades, unless you can take some short-term pain. 

Ed

Trade Ideas for your consideration and watchlist today: GPOR, QRTEA, ITCI, AQST, SHAK, VLO, CRUS, X, LOPE, ARNA, TWTR, BSX. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Another gap higher Thursday was met with a roller coaster that ended up selling back down in to the gap.  This gave us high-wick indecisive candles.  The SPY closed up 1.21%, the DIA up 0.87%, and the QQQ up 1.29%.  VXX was down correspondingly to 37.47 while T2122 remains in the mid-range at 64.84.  The 10-year bond yield was up to close at 0.643% and Oil (WTI) held ground, closing at $23.79/barrel.

Like watching a car wreck that’s about to happen, markets have seemed to be waiting on this morning’s jobs report.  At the same time, we know it’s going to be terrible and the bulls have long ago decided that the worst is past us. 

On the Virus front itself, the global headline numbers are 3,936,270 confirmed cases and 271,180 deaths.  Opening continues to be the lead story around the world in spite of concerning signs like a 6^th straight day of record-high cases in Russia, a record death toll in Mexico, a death toll uptick in Spain, and new outbreaks in places like South Korean nightclubs.  Among the openings were school openings in France and Norway, travel restriction easing in Hong Kong, Indonesia and Singapore. 

In the US, we have 1,292,879 confirmed cases and 76, 429 deaths.  The important US virus-related news seems to be public’s less than stellar adherence to guidelines (or even of showing civility). Several incidents of shootings and physical attacks on people trying to enforce guidelines have made news and there has been a mass disregard for distancing or mask usage in many parts of the country.  This comes as more crowded venues (like factories, malls, etc.) open every day.  This just points to how hard it will be to control spread or lock down again if needed to contain the spread.

Overnight, Asian markets were all in the green. In Europe, the same is true with the exception of Russia so far today.  As of 7:45 am, US futures are pointing to a one percent gap higher at the open as traders seems to be expecting no bad shock from the jobs number. 

The major economic news for Friday includes Apr Avg. Hourly Earnings, Apr Nonfarm Payrolls, Apr Participation Rate, and Apr Unemployment Rate (all at 8:30 am).  The earnings are limited to ATH, AXL, BLMN, BR, EXC, GLP, IEP, KIM, LEA, NBL, PBF, PNW, PPL, SABR, TEN, VTR, and XRAY all before the open.

The bulls seem to have decided the worst is behind us.  However, they are running low on follow-through steam lately.  Fortunately for them, the bears have no energy either.  The payroll report and more importantly market reaction will call the tune today.  Just remember that volatility remains a constant companion for traders.  So, all we can do is focus on the short-term chart in front of us.  Remain cautious about longer-term swing trades, unless you can take some short-term pain. Finally, remember it’s payday..take profits where and when you can.   

Ed

Trade Ideas for your consideration and watchlist today: no trade ideas for Friday. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service