Financial Cycles
October 3, 2004
FinancialCyclesWeekly.com #0440 – October 3-9, 2004 with Tim Bost
COMMENT: We noted last week that the actions of Mars, Jupiter, Zeus and the Sun “suggest quite strongly that we will see some positive moves in the equities markets.” That’s exactly what we got, with stocks moving upward around the world and putting in an especially strong showing in the U.S., complete with cross-index confirmation.
Our expectation is that we’ll see more of the same this week. A Sun/Mercury conjunction and a Venus/Uranus opposition should both provide plenty of energy to keep prices moving upward.
Another All-Time High for Crude
Much of the week’s news had a decidedly Neptunian flavor last week. The biggest story in the commodities markets was yet another record high for oil prices. We have suggested previously that higher priced oil may “be the only thing that will bring the stock market back down to earth,” but even a 3% bump for the week didn’t seem to phase the equities rally. You might think that crossing the $50-a-barrel threshold and a statement from the G-7 finance ministers that oil prices are a risk to the global economy might give the market a little pause. As it turned out, though, the concept of that price has been in traders’ minds for quite some time, so the event itself didn’t pack too much drama. Apparently, too, the traders heeded Treasury Secretary John Snow’s comment that high oil prices are “a short-term phenomenon.” The excuse for the higher price was unrest in the Nigerian oil fields, but given Snow’s assessments, it seems much more like Neptune than Nigeria to us.
A Bad Mark for Merck
Of course Neptune not only has a connection with petroleum; it’s also a key factor in drugs as well. Just ask Merck (MRK). The drug maker’s stock lost more than a quarter of its value on Thursday after the company decided to pull its arthritis drug Vioxx off the market, confession that the stuff could increase a patient’s chance of suffering a stroke or heart attack. It was a tough situation for the company, but of course having Saturn transiting the MRK First-Trade Ascendant (First Trade 05/15/1946; 10:00 a.m.) hot on the heels of a Saturn return didn’t help matters much, either.
Dangerous Times Ahead for the Dollar
It’s been no secret that the U.S. Dollar has been hit hard in the last couple of years, and we’ve been on the lookout for more weakness to come. The greenback has had a lot of trouble holding its own against the Euro, and now we’re starting to see signs that China is starting to show doubts about the Dollar’s strength, too. This is definitely a development that we will be paying close attention to, so stay tuned.
A Close Call from Toutatis
The past week was also eventful from the standpoint of spectacular phenomena. On Wednesday the asteroid Toutatis zipped past Earth at a safe distance of 961,000 miles (about four times the distance between the Earth and the Moon) at 9:35 a.m. EDT, according to the Jet Propulsion Laboratory. It was the closest approach of any known asteroid of comparable size this century. It’s been at least 900 years since Toutatis paid Earth such a close visit.
Financial Astrology as a Spiritual Discipline
We’ll be in Raleigh, North Carolina this week to talk with the Spiritual Frontiers Fellowship on “Financial Astrology as a Spiritual Discipline” on Thursday night. Then on Saturday they’ll be a full-day workshop on “Creating Personal Wealth with Astrology.” Please plan to join us if you’re in the area; you’ll find details on both events on our website at www.TimBost.com.
Because of our travel schedule, next week’s issue may be slightly delayed in getting out next Monday morning. We’ll be preparing our analysis as usual, however, and will be getting it to our many readers as promptly as possible!
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THE WEEK AHEAD
We will be looking for earning reports this week from Apollo Group (APOL), Ruby Tuesday Inc. (RI), Acuity Brands (AYI), Monsanto Company (MON), Genentech (DNA), Robbins & Myers Inc. (RBN), Wolverine World Wide (WWW), RPM International (RPM), Alcoa (AA), American Healthways (AMHC), Costco Wholesale (COST), Marriott International (MAR), International Speedway Corporation (ISCA), Regis Corporation (RGS), and General Electric (GE).
The main economic reports we will be watching are August Factory Orders, August Consumer Credit, September Unemployment, and September Nonfarm Payrolls, as well as the ISM Non-Manufacturing Index. Alan Greenspan will be talking to the American Bankers Association in New York on Tuesday, and the Monetary Policy Committee of the Bank of England will be meeting on Wednesday and Thursday, so this is also a week to keep an eye on the central banks.
Astrologically we’re going to be staying away from the markets on Monday, thanks to a void-of-course Moon that covers the entire trading day. There will also be a void-of-course Moon throughout most of the trading day on Thursday, until about half an hour before the closing bell in New York. Tuesday’s Sun/Mercury conjunction promises to lift the markets, especially with a Jupiter/Kronos square and a lunar apogee in the works the same day.
The week’s biggest astro-event is undoubtedly the Venus/Uranus opposition on Wednesday, however. It comes in the middle of the trading day, and picks up some extra punch from Venus changing signs heliocentrically about eight hours later. Our expectation is that it will lift stock prices. A Mars/Zeus conjunction highlights the weekend; look for some extra excitement then!
Have a great week!
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SPIRITUAL FOCUS FOR THE WEEK
The greatest traders have all understood that emotional balance is the key to successful trading. Through Practical Spiritual Astrology we have an opportunity to restore inner harmony, enhance emotional balance, and make wiser choices in the markets.
No matter how much we seek precise ways of refining who we are and what we are doing, our main task right now is simply to open our minds to fresh inspiration so that we can be pleasantly surprised at the results.
"The most beautiful thing we can experience is the mystical. It is the source of all true art and science." -- Albert Einstein
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GLOBAL EQUITIES MARKETS LAST WEEK
The planetary energies at play gave a great rebound to stock markets around the globe last week, with European issues and the broad-based averages in the U.S. doing especially well.
Dow Jones Industrial Average – up 1.45%
Dow Jones Transportation Average – up 3.02%
Dow Jones Utilities Average – up 1.82%
S&P 500 – up 1.93%
NASDAQ Composite Index – up 3.34%
Russell 2000 – up 3.37%
London FTSE-100 – up 1.78%
Paris CAC-40 – up 1.54%
Frankfurt DAX – up 2.17%
Sydney All Ordinaries – up 0.92%
Tokyo Nikkei – up 0.83%
Hong Kong Hang Seng Index – up 0.41%
Singapore Straits Times Index – up 0.39%
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FINANCIAL CYCLES MODEL PORTFOLIO
POSITIONS CLOSED DURING THE PREVIOUS WEEK: ASVI, GLYT, HLEX, NVDA, OCLR, TRBS, IMKTA.
We closed seven Model Portfolio positions during the past week, with 4 winners and 3 losers producing a net profit of $4,608.00.
On September 27 we sold 300 shares of A.S.V. Inc. (ASVI) at 33.15, taking a loss of $261.00 (a 2.56% loss in 6 trading days).
On September 27 we sold 200 shares of Genlyte Group Inc. (GLYT) at 64.55, taking a profit of $560.00 (a 4.53% gain in 14 trading days).
On September 27 we sold 800 shares of Healthextras Inc. (HLEX) at 13.50, taking a loss of $376.00 (a 3.36% loss in 10 trading days).
On September 27 we sold 1,000 shares of Nvidia Corporation (NVDA) at 13.80, taking a profit of $3,700.00 (a 26.3% gain in 31 trading days).
On September 27 we sold 200 shares of Ocular Sciences Inc. (OCLR) at 47.00, taking a profit of $750.00 (an 8.67% gain in 22 trading days).
On September 27 we sold 300 shares of Texas Regional Bankshares (TRBS) at 30.20, taking a profit of $315.00 (a 3.60% gain in 14 trading days).
On September 28 we sold 800 shares of Ingles Markets Inc. Class A (IMKTA) at 11.90, taking a loss of $80.00 (a 0.83% loss in 6 trading days).
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POSITIONS ADDED TO THE PORTFOLIO DURING THE PREVIOUS WEEK: ZBRA, CRDN, EBAY, PDCO.
We added four long positions to the Model Portfolio during the previous week.
We bought 200 shares of Zebra Technologies Corporation Class A (ZBRA) at 61.00 on 09/27/04, setting our initial stop at 58.10.
We bought 300 shares of Ceradyne Inc. (CRDN) at 43.00 on 09/28/04, setting our initial stop at 41.40.
We bought 100 shares of eBay Inc. (EBAY) at 90.38 on 09/29/04, setting our initial stop at 88.50.
We bought 200 shares of Patterson Companies Inc. (PDCO) at 74.85 on 09/29/04, setting our initial stop at 72.55.
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YEAR-IN-REVIEW MODEL PORTFOLIO ACTIVITY
So far in 2004 we have had a total of 158 completed trades, with 76 winners and 82 losers bringing us a total net profit of $33,150.50. The largest profit for a single trade has been $5,645.00; the largest single-trade loss has been $750.00; the average profit per trade has been $209.81. The mean duration of our trades has been 10.2 trading days.
During 2003 we had a total of 176 completed trades, with 99 winners and 77 losers bringing us a total net profit of $51,717.00. The largest profit for a single trade was $9,240.00; the largest single-trade loss was $1,170.00; the average profit per trade was $293.85. The mean duration of our trades was 10.1 trading days.
During 2002 we had a total of 195 completed trades, with 119 winners, 74 losers, and 2 break-even trades bringing us a total net profit of $50,956.00. The largest profit for a single trade was $5,100.00; the largest single-trade loss was $1,055.00; the average profit per trade was $261.31. The mean duration of our trades was 12.7 trading days.
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CURRENT POSITIONS IN THE MODEL PORTFOLIO
Adobe Systems, Inc. (ADBE) – bought 200 shares at 49.00 on 09/22/04; currently 49.99. Raise stop to 47.85.
American Healthways, Inc. (AMHC) – bought 400 shares at 27.50 on 09/22/04; currently 29.17. Raise stop to 27.70.
Ceradyne Inc. (CRDN) – bought 300 shares at 43.00 on 09/28/04; currently 45.01. Raise stop to 42.45.
Corporate Executive Board Company (EXBD) – bought 200 shares at 58.60 on 09/14/04; currently 61.50. Raise stop to 59.50.
eBay Inc. (EBAY) – bought 100 shares at 90.38 on 09/29/04; currently 92.44. Raise stop to 90.00.
Integral Systems, Inc. (ISYS) – bought 500 shares at 19.15 on 09/21/04; currently 19.44. Raise stop to 19.20.
L 3 Communications Holdings (LLL) – bought 200 shares at 62.67 on 09/01/04; currently 68.41. Raise stop to 65.25.
Patterson Companies Inc. (PDCO) – bought 200 shares at 74.85 on 09/29/04; currently 77.30. Raise stop to 74.25.
Petroleum Development Corporation (PETD) – bought 300 shares at 35.50 on 09/21/04; currently 43.72. Raise stop to 40.80.
Ryder Systems, Inc. (R) – bought 200 shares at 44.75 on 09/07/04; currently 47.65. Raise stop to 45.60.
Zebra Technologies Corporation Class A (ZBRA) – bought 200 shares at 61.00 on 09/27/04; currently 60.32. Raise stop to 59.75.
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STRONGEST MARKET SECTORS LAST WEEK
Internet Information Providers; Data Storage Devices; Silver, Aluminum, Steel & Iron.
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WEAKEST MARKET SECTORS LAST WEEK
Major Drug Manufacturers; Wholesale Drugs; Consumer Services; Medical Laboratories; Apparel Stores.
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KEY ASTROLOGICAL EVENTS DURING THE COMING WEEK
October 3
Mercury conjunct Zeus 00:28 EDT
Mercury in 24th harmonic to Apollon 00:40 EDT
Heliocentric Mercury contraparallel Heliocentric Zeus 01:03 EDT
Mercury sextile Cupido 03:28 EDT
Moon trine Mercury 08:29 EDT
Venus semisextile Jupiter in right ascension 11:24 EDT
Moon trine Sun 12:17 EDT
Heliocentric Mercury quincunx Heliocentric Uranus 13:11 EDT
Venus enters Virgo 13:19 EDT
Heliocentric Venus quincunx Heliocentric Chiron 16:06 EDT
Moon trine Neptune 16:09 EDT
Venus conjunct 4/19/2004 Solar Eclipse Antiscion 17:07 EDT
Venus sextile Kronos in right ascension 17:19 EDT
Heliocentric Mercury semisextile Heliocentric Poseidon 19:48 EDT
October 4
Heliocentric Mars square Heliocentric Kronos 02:42 EDT
Heliocentric Mercury sesquiquadrate Heliocentric Admetos 03:37 EDT
Heliocentric Mercury parallel Heliocentric Jupiter 06:03 EDT
Moon opposition Pluto 06:27 EDT
Void-of-Course Moon begins 06:27 EDT
Heliocentric Mercury conjunct Heliocentric Zeus 08:32 EDT
Heliocentric Mercury in 24th harmonic to Heliocentric Apollon 09:59 EDT
Heliocentric Mercury parallel Heliocentric Mars 11:16 EDT
Venus square 11/23/2003 Solar Eclipse Point 14:50 EDT
Mercury parallel Zeus in right ascension 16:59 EDT
Mercury parallel Zeus 17:04 EDT
Heliocentric Mercury sextile Heliocentric Cupido 17:51 EDT
Venus sextile Poseidon in right ascension 20:12 EDT
Jupiter square Kronos in right ascension 21:10 EDT
Mercury conjunct Sun in right ascension 22:00 EDT
October 5
Mars sesquiquadrate Admetos in right ascension 01:55 EDT
Void-of-Course Moon ends 02:54 EDT
Moon enters Cancer 02:54 EDT
Jupiter square Kronos 03:06 EDT
Mars quincunx Uranus in right ascension 03:37 EDT
Heliocentric Mercury biquintile Heliocentric Uranus 03:42 EDT
Heliocentric Mercury contraparallel Heliocentric Mars 03:54 EDT
Moon sextile Venus 06:59 EDT
Moon square Jupiter 07:24 EDT
Moon trine Uranus 09:49 EDT
Heliocentric Mercury contraparallel Heliocentric Jupiter 10:32 EDT
Venus sextile Kronos 10:32 EDT
Mars semisextile Poseidon 10:55 EDT
Sun trine Neptune 10:58 EDT
Venus semisextile Jupiter 12:14 EDT
Mercury trine Neptune 12:29 EDT
Venus trine True Lunar Node 12:48 EDT
Moon at maximum north declinaton 13:40 EDT
Heliocentric Earth opposition Heliocentric Mercury 14:16 EDT
Sun conjunct Mercury 14:30 EDT
Moon square Mars 15:14 EDT
Jupiter quincunx True Lunar Node 15:25 EDT
Venus contraparallel Uranus 17:44 EDT
Venus contraparallel Uranus in right ascension 17:46 EDT
Lunar apogee 18:02 EDT
October 6
Heliocentric Mercury trine Heliocentric Neptune 00:24 EDT
Heliocentric Mars quintile Heliocentric Saturn 00:33 EDT
Moon square Sun 06:12 EDT
True Lunar Node retrograde station 06:13 EDT
Moon square Mercury 07:22 EDT
Heliocentric Venus sesquiquadrate Heliocentric Neptune 10:20 EDT
Venus opposition Uranus 11:22 EDT
Venus opposition Uranus in right ascension 13:38 EDT
Heliocentric Mercury biquintile Heliocentric Admetos 14:45 EDT
Heliocentric Venus contraparallel Heliocentric Uranus 15:23 EDT
Heliocentric Venus enters Cancer 19:53 EDT
October 7
Venus sesquiquadrate Chiron in right ascension 01:25 EDT
Heliocentric Venus square Heliocentric Jupiter 03:04 EDT
Heliocentric Earth sextile Heliocentric Neptune 03:18 EDT
Moon conjunct Saturn 08:13 EDT
Void-of-Course Moon 08:13 – 15:23 EDT
Mercury trine Neptune in right ascension 10:45 EDT
Mars sextile Cupido in right ascension 10:55 EDT
Venus semisquare Apollon in right ascension 11:21 EDT
Zeus in 24th harmonic to Apollon 11:45 EDT
Moon enters Leo 15:23 EDT
Heliocentric Venus conjunct Heliocentric Kronos 15:32 EDT
Heliocentric Mercury square Heliocentric Saturn 16:30 EDT
Heliocentric Mercury sesquiquadrate Heliocentric Uranus 16:39 EDT
Venus square Cupido in right ascension 19:44 EDT
Moon sextile Jupiter 20:55 EDT
October 8
Heliocentric Mercury sextile Heliocentric Pluto 02:24 EDT
Venus semisextile Mars in right ascension 05:17 EDT
Moon sextile Mars 06:55 EDT
Heliocentric Mercury quincunx Heliocentric Admetos 08:25 EDT
Venus sesquiquadrate Chiron 08:31 EDT
Venus semisextile Zeus in right ascension 10:19 EDT
Heliocentric Mercury square Heliocentric Vulcanus 11:17 EDT
Heliocentric Saturn sesquiquadrate Heliocentric Uranus 11:48 EDT
Sun parallel Mercury 12:13 EDT
Mercury parallel Sun in right ascension 12:14 EDT
Mars sesquiquadrate Admetos 12:29 EDT
Mercury in 24th harmonic to Jupiter 12:50 EDT
Moon opposition Neptune 16:29 EDT
Venus sextile Poseidon 17:14 EDT
Heliocentric Earth contraparallel Heliocentric Mercury 12:50 EDT
Heliocentric Mercury in 24th harmonic to Heliocentric Zeus 13:56 EDT
Heliocentric Mercury trine Heliocentric Hades 14:55 EDT
Mars conjunct Zeus in right ascension 14:55 EDT
Heliocentric Mercury conjunct Heliocentric Apollon 15:35 EDT
Mercury sesquiquadrate Uranus 18:41 EDT
Moon sextile Sun 23:20 EDT
Heliocentric Venus square Heliocentric Mars 23:41 EDT
October 9
Heliocentric Mercury semisquare Heliocentric Cupido 00:24 EDT
Heliocentric Mercury square Heliocentric Chiron 02:25 EDT
Mars in 24th harmonic to Apollon 04:18 EDT
Mars conjunct Zeus 04:29 EDT
Moon sextile Mercury 04:57 EDT
Sun trine Neptune in right ascension 06:04 EDT
Moon trine Pluto 06:42 EDT
Void-of-Course Moon begins 06:42 EDT
Mars sextile Cupido 12:39 EDT
Mercury sextile Pluto 17:50 EDT
October 10
Void-of-Course Moon ends 02:00 EDT
Moon enters Virgo 02:00 EDT
Heliocentric Venus trine Heliocentric Uranus 02:12 EDT
Heliocentric Venus in 24th harmonic to Heliocentric Saturn 02:51 EDT
Mercury square Chiron 03:01 EDT
Mercury square 5/31/2003 Solar Eclipse Antiscion 03:40 EDT
Jupiter quincunx Uranus 07:07 EDT
Moon opposition Uranus 08:15 EDT
Mercury in 24th harmonic to Poseidon 08:56 EDT
Cupido sesquiquadrate Vulcanus 09:34 EDT
Mercury sextile Pluto in right ascension 09:40 EDT
Heliocentric Mercury parallel Heliocentric Apollon 10:47 EDT
Heliocentric Mercury enters Scorpio 14:59 EDT
Heliocentric Venus trine Heliocentric Poseidon 16:48 EDT
Moon conjunct Venus 17:52 EDT
Venus contraparallel Apollon 18:11 EDT
Venus semisquare Apollon 18:24 EDT
Venus contraparallel Apollon in right ascension 18:33 EDT
Venus semisextile Zeus 18:36 EDT
Heliocentric Mercury semisextile Heliocentric Jupiter 20:45 EDT
Mercury sesquiquadrate Uranus in right ascension 21:25 EDT
Venus semisquare Vulcanus in right ascension 22:03 EDT
Mercury quincunx Admetos in right ascension 22:10 EDT
Venus semisquare Vulcanus 22:53 EDT
Venus square Cupido 23:05 EDT
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STOCKS TO WATCH: BNI, CVH, INSP, MLI, OSG.
Burlington Northern and Santa Fe Railway Company (BNI)
NYSE; Optionable
First Trade Date: 07/18/1984; 10:00 a.m.
Trading Strategy: BNSF made a correct low on September 29 at 37.79 as Mercury (G,360,N,-2) conjoined first Jupiter (G,360,N,-2) and then Mars (G,360,N,-2). That leaves us ready to add a long position to the Model Portfolio early this week, especially since transiting Zeus is also conjunct the First-Trade Apollon and transiting Apollon is conjunct the First-Trade Pluto/Poseidon midpoint. We’ll set our initial stop at 36.45.
Coventry Health Care Inc. (CVH)
NYSE; Optionable
First Trade Date: 05/15/2001; 09:30 a.m.
Trading Strategy: This stock has been showing some strength recently, and we’re considering it for a long position. Jupiter is getting ready to cross the CVH First-Trade IC, which should give the stock the impetus for a further upward leg. It could, however, mark a top, so we will need to proceed with a bit of caution here. If we get a daily close at 54.30 or better, we will enter our long position on the next available trading day, setting our initial stop at 50.75.
Infospace Inc. (INSP)
NASDAQ; Optionable
First Trade Date: 12/15/1998; 09:30 a.m.
Trading Strategy: Saturn is currently transiting the INSP First-Trade Descendant, which could signal the start of a powerful upward move, especially since transiting Cupido is also conjunct the INSP First-Trade Pluto. If we get a correct daily low at approximately 48.00 to coincide with the first-harmonic Saturn line (G,360,N,-2), we will enter a long position in this stock, setting our initial stop at 46.50 at the transiting opposition of Venus (G,180,N,-2) and Uranus (G,180,N,-2).
Mueller Industries, Inc. (MLI)
NYSE; Optionable
First Trade Date: 02/25/1991; 09:30 a.m.
Trading Strategy: Things got underway significantly for this stock in early August, when MLI bounced off a natal Admetos line (G,43.9,N,0) and moved up sharply, gapping up above the next increment of that line and breezing past the line for first-harmonic Saturn (G,360,N,-2) before establishing a new trading range. Since then it has found support on the first-harmonic Jupiter line (G,360,N,-2) and is currently flirting with the opposition of Venus (G,180,N,-2) and Uranus (G,180,N,-2). Our plan is thus to add a long position in MLI this week, setting our initial stop at 41.40.
Overseas Shipping Group (OSG)
NYSE; Optionable
First Trade Date: 08/09/1973; 10:00 a.m.
Trading Strategy: Even though transiting Saturn is currently conjoining the OSG First-Trade Mercury, there are a couple of very strong positive factors at work as well, namely Jupiter crossing the First-Trade Ascendant and Kronos crossing the First-Trade Midheaven. That has us interested in a long position in this stock. Throughout this year, OSG has found repeated support on a second-harmonic Venus line (G,180,N,-2), on May 10, May 17, May 25, June 25, July 17, July 22, August 13, August 31, and September 17. With Venus making an opposition to Uranus this week, we expect the support action to be even stronger. We’ll add a long position this week, setting our initial stop at 48.30.
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FINANCIAL CYCLES WEEKLY (ISSN 1055-8527) is published by Taylor-Bost Consulting and edited by Tim Bost at 2132 Beneva Road, Sarasota, FL 34232 USA. Phone: 941-921-2588. Fax: 941-927-5798. Web: http://www.TimBost.com. Entire contents copyright 2004 Timothy L. Bost. No portion of Financial Cycles Weekly may be reproduced without the publisher's written permission. Subscriptions to FINANCIAL CYCLES WEEKLY are $39.00 per month for weekly issues sent by email, payable by monthly billing to a major credit card. Advance payment options (by credit card, check, or money order) are $228 for 6 months, $432 for 1 year or $815 for two years. All subscriptions are payable in US funds only— Visa, MasterCard, American Express, Diners Club, and Discover/Novus accepted; please make checks or money orders payable to Taylor-Bost. PayPal is also accepted for online orders; to subscribe go to http://www.TimBost.com/newsletter/subscribe.html.
By providing a source of independent market analysis, the purpose of FINANCIAL CYCLES WEEKLY is to foster the growth of person-centered business and investment astrology; to enhance the development and dissemination of financial literacy and prosperity consciousness; and to explore the use of technical analysis and financial astrology in promoting an esoteric spiritual understanding of economic trends, geocosmic cycles, geopolitical events, and market movements. FINANCIAL CYCLES WEEKLY is a general interest publication which is prepared from astrological information, news reports, cycle projections, and market observations which are believed to be accurate and reliable, but which cannot be guaranteed. Portfolio and trading reports in this publication do not include taxes and transaction fees, which should be taken into consideration by prospective traders and investors. Even with accurate information, past performance is no guarantee of future results. Speculation in securities and commodities involves considerable financial risk, and readers who plan to invest or speculate in securities or commodities mentioned in FINANCIAL CYCLES WEEKLY have the complete responsibility for making themselves fully aware of all the risks involved before they invest. The editor may or may not have positions in the securities and commodities discussed in this newsletter, and the information in FINANCIAL CYCLES WEEKLY should in no way be understood or construed as a solicitation or an offer to buy or sell any products or securities, nor should the material published in this newsletter be considered buy/sell advice.
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