NOT INDIVIDUAL INVESTMENT ADVICE. The personal opinions and forecasts expressed herein are those of Mr. David Moenning alone, which may not actually come to pass, and which do not necessarily represent those of Heritage Capital Advisors, LLC dba Heritage Capital Research or its affiliates. The opinions and viewpoints regarding the future of the markets should not be construed as recommendations. The analysis and information in this report is for informational and educational purposes only. No part of the material presented in this report is intended as an investment recommendation or individual investment advice. Neither the information nor any opinion expressed constitutes a solicitation to purchase or sell securities or any investment program.

Any investment decisions must in all cases be made by the reader or by his or her personal investment adviser. Do NOT ever purchase any security without doing sufficient research or speaking with an investment professional. There is no guarantee that the investment objectives outlined will actually come to pass. All opinions expressed herein are subject to change without notice. Neither the editor, employees, nor any of their affiliates shall have any duty to update the included information, or assume liability for any loss sustained by anyone who has relied on the information provided.

Mr. Moenning is a dual-registered investment adviser representative of Capital Advisors 360, LLC and Heritage Capital Advisors, LLC, both registered investment advisers that are otherwise unaffiliated with one another.

Mr. Moenning may at times have positions in the securities referred to and may make purchases or sales of these securities while publications are in circulation. Positions may change at any time, or even directionally reversed.

The analysis provided is based on both technical and fundamental research and is provided “as is” without warranty of any kind, either expressed or implied. Although the information contained is derived from sources that are believed to be reliable, they cannot be guaranteed.

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