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Is your forex broker a scam?


If you do an internet search on forex broker scams, the number of results is staggering. While the forex market is slowly becoming more regulated, there are many unscrupulous brokers who should not be in business.


When you're looking to trade forex, it's important to identify brokers who are reliable and viable, and to avoid the ones that are not. In order to sort out the strong brokers from the weak and the reputable ones from those with shady dealings, we must go through a series of steps before depositing a large amount of capital with a broker.


Trading is hard enough in itself, but when a broker implements practices that work against the trader, making a profit can be nearly impossible.


Key takeaways



  • If your broker does not respond to you, it may be a red flag that he or she is not looking out for your best interests.

  • To make sure you're not being duped by a shady broker, do your research, make sure there are no complaints, and read through all the fine print on documents.

  • Try opening a mini account with a small balance first, and make trades for a month before attempting a withdrawal.

  • If you see buy and sell trades for securities that don't fit your objectives, your broker may be churning.

  • If you are stuck with a bad broker, review all your documents and discuss your course of action before taking more drastic measures.


Separating forex fact from fiction


When researching a potential forex broker, traders must learn to separate fact from fiction. For instance, faced with all sorts of forums posts, articles, and disgruntled comments about a broker, we could assume that all traders fail and never make a profit. The traders that fail to make profits then post content online that blames the broker (or some other outside influence) for their own failed strategies.


One common complaint from traders is that a broker was intentionally trying to cause a loss in the form of statements such as, "as soon as I placed the trade, the direction of the market reversed" or "the broker stop hunted my positions," and "I always had slippage on my orders, and never in my favor." these types of experiences are common among traders and it is quite possible that the broker is not at fault.


Rookie traders


It is also entirely possible that new forex traders fail to trade with a tested strategy or trading plan. Instead, they make trades based on psychology (e.G., if a trader feels the market has to move in one direction or the other) and there is essentially a 50% chance they will be correct.


When the rookie trader enters a position, they are often entering when their emotions are waning. Experienced traders are aware of these junior tendencies and step in, taking the trade the other way. This befuddles new traders and leaves them feeling that the market—or their brokers—are out to get them and take their individual profits. Most of the time, this is not the case. It is simply a failure by the trader to understand market dynamics.


Broker failures


On occasion, losses are the broker's fault. This can occur when a broker attempts to rack up trading commissions at the client's expense. There have been reports of brokers arbitrarily moving quoted rates to trigger stop orders when other brokers' rates have not moved to that price.


Luckily for traders, this type of situation is an outlier and not likely to occur. One must remember that trading is usually not a zero-sum game, and brokers primarily make commissions with increased trading volumes. Overall, it is in the best interest of brokers to have long-term clients who trade regularly and thus, sustain capital or make a profit.


Behavioral trading


The slippage issue can often be attributed to behavioral economics. It is common practice for inexperienced traders to panic. They fear missing a move, so they hit their buy key, or they fear losing more and they hit the sell key.


In volatile exchange rate environments, the broker cannot ensure an order will be executed at the desired price. This results in sharp movements and slippage. The same is true for stop or limit orders. Some brokers guarantee stop and limit order fills, while others do not.


Even in more transparent markets, slippage happens, markets move, and we don't always get the price we want.


Communication is key


Real problems can begin to develop when communication between a trader and a broker begins to break down. If a trader does not receive responses from their broker or the broker provides vague answers to a trader's questions, these are common red flags that a broker may not be looking out for the client's best interest.


Issues of this nature should be resolved and explained to the trader, and the broker should also be helpful and display good customer relations. One of the most detrimental issues that may arise between a broker and a trader is the trader's inability to withdraw money from an account.


Broker research protects you


Protecting yourself from unscrupulous brokers in the first place is ideal. The following steps should help:



  • Do an online search for reviews of the broker. A generic internet search can provide insights into whether negative comments could just be a disgruntled trader or something more serious. A good supplement to this type of search is brokercheck from the financial industry regulatory authority (FINRA), which indicates whether there are outstanding legal actions against the broker. And if appropriate, gain a clearer understanding of the U.S. Regulations for forex brokers.

  • Make sure there are no complaints about not being able to withdraw funds. If there are, contact the user if possible and ask them about their experience.

  • Read through all the fine print of the documents when opening an account. Incentives to open an account can often be used against the trader when attempting to withdraw funds. For instance, if a trader deposits $10,000 and gets a $2,000 bonus, and then the trader loses money and attempts to withdraw some remaining funds, the broker may say they cannot withdraw the bonus funds. Reading the fine print will help make sure you understand all contingencies in these types of instances.

  • If you are satisfied with your research on a particular broker, open a mini account or an account with a small amount of capital. Trade it for a month or more, and then attempt to make a withdrawal. If everything has gone well, it should be relatively safe to deposit more funds. If you have problems, attempt to discuss them with the broker. If that fails, move on and post a detailed account of your experience online so others can learn from your experience.


It should be pointed out that a broker's size cannot be used to determine the level of risk involved. While larger brokers grow by providing a certain standard of service, the 2008-2009 financial crisis taught us that a big or popular firm isn't always safe.


The temptation to churn


Brokers or planners who are paid commissions for buying and selling securities can sometimes succumb to the temptation to effect transactions simply for the purpose of generating a commission. Those who do this excessively can be found guilty of churning—a term coined by the securities and exchange commission (SEC) that denotes when a broker places trades for a purpose other than to benefit the client.   those who are found guilty of this can face fines, reprimands, suspension, dismissal, disbarment, or even criminal sanctions in some cases.


SEC defines churning


The SEC defines churning in the following manner:


Churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account chiefly to generate commissions that benefit the broker. For churning to occur, the broker must exercise control over the investment decisions in the customer’s account, such as through a formal written discretionary agreement. Frequent in-and-out purchases and sales of securities that don’t appear necessary to fulfill the customer’s investment goals may be evidence of churning. Churning is illegal and unethical. It can violate SEC rule 15c1-7 and other securities laws.


The key to remember here is that the trades that are placed are not increasing your account value. If you have given your broker trading authority over your account, then the possibility of churning can only exist if they are trading your account heavily, and your balance either remains the same or decreases in value over time.


Of course, it is possible that your broker may be genuinely attempting to grow your assets, but you need to find out exactly what they are doing and why. If you are calling the shots and the broker is following your instructions, then that cannot be classified as churning.


Evaluate your trades


One of the clearest signs of churning can be when you see buy and sell trades for securities that don’t fit your investment objectives. For example, if your objective is to generate a current stable income, then you should not be seeing buy and sell trades on your statements for small-cap equity or technology stocks or funds.


Churning with derivatives such as put and call options can be even harder to spot, as these instruments can be used to accomplish a variety of objectives. But buying and selling puts and calls should, in most cases, only be happening if you have a high-risk tolerance. Selling calls and puts can generate current income as long as it is done prudently.


How regulators evaluate churning


An arbitration panel will consider several factors when they conduct hearings to determine whether a broker has been churning an account. They will examine the trades that were placed in light of the client’s level of education, experience, and sophistication as well as the nature of the client’s relationship with the broker. They will also weigh the number of solicited versus unsolicited trades and the dollar amount of commissions that have been generated as compared to the client’s gains or losses as a result of these trades.


There are times when it may seem like your broker may be churning your account, but this may not necessarily be the case. If you have questions about this and feel uneasy about what your advisor is doing with your money, then don’t hesitate to consult a securities attorney or file a complaint on the SEC's website.


Already stuck with a bad broker?


Unfortunately, options are very limited at this stage. However, there are a few things you can do. First, read through all documents to make sure your broker is actually in the wrong. If you have missed something or failed to read the documents you signed, you may have to assume the blame.


Next, discuss the course of action you will take if the broker does not adequately answer your questions or provide a withdrawal. Steps may include posting comments online or reporting the broker to FINRA or the appropriate regulatory body in your country.


The bottom line


While traders may blame brokers for their losses, there are times when brokers really are at fault. A trader needs to be thorough and conduct research on a broker before opening an account and if the research turns up positive for the broker, then a small deposit should be made, followed by a few trades and then a withdrawal. If this goes well, then a larger deposit can be made.


However, if you are already in a problematic situation, you should verify that the broker is conducting illegal activity (such as churning), attempt to have your questions answered, and if all else fails, and/or report the person to the SEC, FINRA, or another regulatory body that could enforce action against them.



DTI awards P150,000 worth of livelihood kits to former rebels


By merlito G. Edale, jr. Published on january 12, 2021


CITY OF ILAGAN, isabela, jan. 11 (PIA) – former rebels under the custody of 5th infantry battalion can now utilize the livelihood kits recently turned over by the department of trade and industry (DTI).


In an awarding ceremony, DTI isabela provincial director winston singun said the livelihood kits awarded to the former rebels is part of the department’s pangkabuhayan sa pagbangon at ginwaha (PPG) program which aims to provide support to individuals and micro-enterprises affected by man-made and natural calamities, including the COVID-19 pandemic.


Singun said that a total of P150,000 worth of livelihood kits were already given in the form of sari-sari store business kits, gardening and farming kits composed of tools, implements and fertilizers, poultry kits composed of feeds and housing and mushroom spawns for their mushroom production.


Aside from the livelihood kits, singun said that they have also assisted in the packaging of their business plan that was submitted to the labor department to support their request for financial assistance for the establishment of their poultry project.


“DTI is offering its programs and services to frs in support to president rodrigo duterte’s executive order no. 70 or the national task force to end local communist armed conflict,” singun said.


The 95th infantry battalion was represented by its executive officer maj. Oscar blanza. (MDCT/MGE/PIA 2-isabela)



S&P 600 index


S&P smallcap 600 ($IQY)


The information below reflects the ETF components for S&P smallcap 600 SPDR (SLY).


Percentage of S&P 600 stocks above moving average


P150 trading


Summary of S&P 600 stocks with new highs and lows


(597 total components) 5-day 1-month 3-month 6-month 52-week year-to-date
today's new highs (% of total) 107 (18%) 71 (12%) 61 (10%) 57 (10%) 37 (6%) 74 (12%)
today's new lows (% of total) 270 (45%) 33 (6%) 3 (1%) 2 (0%) 1 (0%) 48 (8%)
difference -163 38 58 55 36 26

S&P 600 components



Stocks: 15 20 minute delay (cboe BZX is real-time), ET. Volume reflects consolidated markets. Futures and forex: 10 or 15 minute delay, CT. Market data powered by barchart solutions. Fundamental data provided by zacks and morningstar.


© 2021 barchart.Com, inc. All rights reserved.


This page provides details for the index you are viewing. At the top, you'll find a histogram containing today's high and low price. The histogram shows where the open and last price fall within that range. Below is a histogram showing the 52-week high and low. A chart also shows you today's activity.


Available only with a premier membership, you can base a stock screener off the symbols currently on the page. This lets you add additional filters to further narrow down the list of candidates.



  1. Click "screen" on the page and the stock screener opens, pulling in the symbols from the components page.

  2. Add additional criteria in the screener, such as "20-day moving average is greater than the last price", or "trendspotter opinion is buy".

  3. View the results and save them to a watchlist, or save the screener to run again at a later date.

  4. Running a saved screener at a later date will always present a new list of results. Your saved screener will always start with the most current set of symbols found on the components page before applying your custom filters and displaying new results.



Percentage of stocks above moving average

For the major indices on the site, this widget shows the percentage of stocks contained in the index that are above their 20-day, 50-day, 100-day, 150-day, and 200-day moving averages.


In theory, the direction of the moving average (higher, lower or flat) indicates the trend of the market. Its slope indicates the strength of the trend. Longer averages are used to identify longer-term trends. Shorter averages are used to identify shorter-term trends. Many trading systems utilize moving averages as independent variables and market analysts frequently use moving averages to confirm technical breakouts.


When prices are rising they are usually above the average. This is to be expected since the average includes data from the previous, lower priced days. As long as prices remain above the average there is strength in the market.


Components table

The components table shows you the stocks that comprise the index.


Barchart data table

Data tables on barchart follow a familiar format to view and access extensive information for the symbols in the table.


Pages are initially sorted in a specific order (depending on the data presented). You can re-sort the page by clicking on any of the column headings in the table.


Views

Most data tables contain multiple standard "views", and each view contains "links" to each symbol's quote overview, chart, barchart opinion, and technical analysis page. A view simply presents the same symbols with different columns. Site members can also display the data using any custom view. (simply create a free account, log in, then create and save custom views to be used on any data table.) standard views on the index page include:



    Main view: symbol, name, last price, change, percent change, high, low, and time of last trade.



Technical view: symbol, name, last price, today's opinion, 20-day relative strength, 20-day historic volatility, 20-day average volume, 52-week high and 52-week low.



Performance view: symbol, name, last price, weighted alpha, YTD percent change, 1-month, 3-month and 1-year percent change.


Data table expand

Unique to barchart.Com, data tables contain an "expand" option. Click the "+" icon in the first column (on the left) to "expand" the table for the selected symbol. Scroll through widgets of the different content available for the symbol. Click on any of the widgets to go to the full page.


Horizontal scroll on wide tables

Especially when using a custom view, you may find that the number of columns chosen exceeds the available space to show all the data. In this case, the table must be horizontally scrolled (left to right) to view all of the information. To do this, you can either scroll to the bottom of the table and use the table's scrollbar, or you can scroll the table using your browser's built-in scroll:



  • Left-click with your mouse anywhere on the table.

  • Use your keyboard's left and right arrows to scroll the table.

  • Repeat this anywhere as you move through the table to enable horizontal scrolling.



Flipcharts

Also unique to barchart, this feature allows you to scroll through all the symbols on the table in a chart view. Flipcharts are a free tool available to site members.


Download

This tool will download a .Csv file (compatible with many spreadsheet programs) for the view being displayed. Download is also a free tool available to site members.



UT17 IF trading guide


Comments


P150 trading


P150 trading


P150 trading


P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


P150 trading


Didn't realise he was that cheap!


Might be worth a shot yeah

P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


Didn't realise he was that cheap!


Might be worth a shot yeah

P150 trading


P150 trading


So now that the TOTW is over I'm gonna share my weekly results.

P150 trading

Last wednesday my transfer profit was somehting around the 1.4m mark, and right now I just reached 2m.


P150 trading


Done this 600k transfer profit from this week basicly investing HARD in some stancius IF (that I give the tip right here 2 weeks ago) and getting 7-9k profit on each card. Bought around 15 modestes sunday/monday for anything around the 15k mark. All of them sold already for 22.5k each (idk what happened, but he just rose in price in the last 2 days). And got lucky right now when the TOTW was announced I managed to pick a kante (already inflated) for 290k and sold IMEDIATELY for 400k.
Most of my money right now is invested, still has around 30-40 IF to sell (tons of mandzukic that are actually selling sometimes, manolas that wont sell and berezutsky that I'm making around 4-5k profit each card).
Also I invested this sunday in TONS of schalke, borussia, saudi el classico, and olympiacos v panathinaikos players. Got most of the players in my club and 30-35 in my watch list, just waiting for the SBC.
I plan to get to the 3m mark right after black friday if possible, and this method is helping me alot.


I can't thank you guys enough, this thread is on another level!



S&P 600 index


S&P smallcap 600 ($IQY)


The information below reflects the ETF components for S&P smallcap 600 SPDR (SLY).


Percentage of S&P 600 stocks above moving average


P150 trading


Summary of S&P 600 stocks with new highs and lows


(597 total components) 5-day 1-month 3-month 6-month 52-week year-to-date
today's new highs (% of total) 107 (18%) 71 (12%) 61 (10%) 57 (10%) 37 (6%) 74 (12%)
today's new lows (% of total) 270 (45%) 33 (6%) 3 (1%) 2 (0%) 1 (0%) 48 (8%)
difference -163 38 58 55 36 26

S&P 600 components



Stocks: 15 20 minute delay (cboe BZX is real-time), ET. Volume reflects consolidated markets. Futures and forex: 10 or 15 minute delay, CT. Market data powered by barchart solutions. Fundamental data provided by zacks and morningstar.


© 2021 barchart.Com, inc. All rights reserved.


This page provides details for the index you are viewing. At the top, you'll find a histogram containing today's high and low price. The histogram shows where the open and last price fall within that range. Below is a histogram showing the 52-week high and low. A chart also shows you today's activity.


Available only with a premier membership, you can base a stock screener off the symbols currently on the page. This lets you add additional filters to further narrow down the list of candidates.



  1. Click "screen" on the page and the stock screener opens, pulling in the symbols from the components page.

  2. Add additional criteria in the screener, such as "20-day moving average is greater than the last price", or "trendspotter opinion is buy".

  3. View the results and save them to a watchlist, or save the screener to run again at a later date.

  4. Running a saved screener at a later date will always present a new list of results. Your saved screener will always start with the most current set of symbols found on the components page before applying your custom filters and displaying new results.



Percentage of stocks above moving average

For the major indices on the site, this widget shows the percentage of stocks contained in the index that are above their 20-day, 50-day, 100-day, 150-day, and 200-day moving averages.


In theory, the direction of the moving average (higher, lower or flat) indicates the trend of the market. Its slope indicates the strength of the trend. Longer averages are used to identify longer-term trends. Shorter averages are used to identify shorter-term trends. Many trading systems utilize moving averages as independent variables and market analysts frequently use moving averages to confirm technical breakouts.


When prices are rising they are usually above the average. This is to be expected since the average includes data from the previous, lower priced days. As long as prices remain above the average there is strength in the market.


Components table

The components table shows you the stocks that comprise the index.


Barchart data table

Data tables on barchart follow a familiar format to view and access extensive information for the symbols in the table.


Pages are initially sorted in a specific order (depending on the data presented). You can re-sort the page by clicking on any of the column headings in the table.


Views

Most data tables contain multiple standard "views", and each view contains "links" to each symbol's quote overview, chart, barchart opinion, and technical analysis page. A view simply presents the same symbols with different columns. Site members can also display the data using any custom view. (simply create a free account, log in, then create and save custom views to be used on any data table.) standard views on the index page include:



    Main view: symbol, name, last price, change, percent change, high, low, and time of last trade.



Technical view: symbol, name, last price, today's opinion, 20-day relative strength, 20-day historic volatility, 20-day average volume, 52-week high and 52-week low.



Performance view: symbol, name, last price, weighted alpha, YTD percent change, 1-month, 3-month and 1-year percent change.


Data table expand

Unique to barchart.Com, data tables contain an "expand" option. Click the "+" icon in the first column (on the left) to "expand" the table for the selected symbol. Scroll through widgets of the different content available for the symbol. Click on any of the widgets to go to the full page.


Horizontal scroll on wide tables

Especially when using a custom view, you may find that the number of columns chosen exceeds the available space to show all the data. In this case, the table must be horizontally scrolled (left to right) to view all of the information. To do this, you can either scroll to the bottom of the table and use the table's scrollbar, or you can scroll the table using your browser's built-in scroll:



  • Left-click with your mouse anywhere on the table.

  • Use your keyboard's left and right arrows to scroll the table.

  • Repeat this anywhere as you move through the table to enable horizontal scrolling.



Flipcharts

Also unique to barchart, this feature allows you to scroll through all the symbols on the table in a chart view. Flipcharts are a free tool available to site members.


Download

This tool will download a .Csv file (compatible with many spreadsheet programs) for the view being displayed. Download is also a free tool available to site members.



UT17 IF trading guide


Comments


P150 trading


P150 trading


P150 trading


P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


P150 trading


P150 trading


Didn't realise he was that cheap!


Might be worth a shot yeah

P150 trading


P150 trading


P150 trading


Na none at all. Can't read them!


If i was gonna get any it will be tonight/tomorrow though during weekend rewards.


P150 trading


Didn't realise he was that cheap!


Might be worth a shot yeah

P150 trading


P150 trading


So now that the TOTW is over I'm gonna share my weekly results.

P150 trading

Last wednesday my transfer profit was somehting around the 1.4m mark, and right now I just reached 2m.


P150 trading


Done this 600k transfer profit from this week basicly investing HARD in some stancius IF (that I give the tip right here 2 weeks ago) and getting 7-9k profit on each card. Bought around 15 modestes sunday/monday for anything around the 15k mark. All of them sold already for 22.5k each (idk what happened, but he just rose in price in the last 2 days). And got lucky right now when the TOTW was announced I managed to pick a kante (already inflated) for 290k and sold IMEDIATELY for 400k.
Most of my money right now is invested, still has around 30-40 IF to sell (tons of mandzukic that are actually selling sometimes, manolas that wont sell and berezutsky that I'm making around 4-5k profit each card).
Also I invested this sunday in TONS of schalke, borussia, saudi el classico, and olympiacos v panathinaikos players. Got most of the players in my club and 30-35 in my watch list, just waiting for the SBC.
I plan to get to the 3m mark right after black friday if possible, and this method is helping me alot.


I can't thank you guys enough, this thread is on another level!




I went to a nearby vegetable store this morning in quezon city and was shocked to find out the seven items I bought—1 small cauliflower, 1 small broccoli, 2 medium sized carrots, 1 pc. Red bell pepper, 1 pc. Ampalaya and 1 pc. Upo—amounted to P481. I was bewildered and had to ask the tindera, “sure ka?” she handed me a small sheet of paper with the computation. Her math was correct.


Apparently, the prices of vegetables started soaring around december, after the typhoons devastated farms in many parts of the country.


PJ haight, a farmer from atok, benguet, attributes the high prices of vegetables to typhoon ulysses, which hit the country in november. “ang dami nyang sinirang gulay. Hindi pa nakaka-recover ang mga farmers hanggang ngayon,” he says.


He estimated that his team of 15 farmers were only able to save about 40% of the crops in the ten-hectare farm he’s managing. “yung 60% nasira,” he sadly shares. Other veggies planted on their farm are radish, cabbage, wombok (or chinese cabbage), potatoes, and celery.


Most affected among their crops, he says, were the potatoes, which are sensitive to extreme weather conditions (“nasira ang leaves niya ng bagyo, kaya hindi na lumaki”), chinese cabbage, and radish. PJ sent me photos of their potato plants that were uprooted and left wilted by typhoon ulysses. “yung ibang vegetables, two months old na nung dumating si ulysses. Sinira niya ang 50%,” he says.


Blessing in disguise


Nevertheless, while they’ve been harvesting lesser crops now, they are able to sell the produce at a higher cost. They are also able to slowly recover their losses from the early months of the pandemic, when they almost had to give away all their produce as donation.


ngayon lang talaga pumalo ang presyo ng gulay ng ganito, na medyo tumagal,” he says, noting that the prices of vegetables doubled or even tripled over the past couple of months. One of the highest priced vegetables is the cabbage, which sold in their trading post yesterday at P110 per kilo.


The price monitoring sheet released by the department of agriculture yesterday indicates that the retail price of cabbage can go as low as P150 to as high as P220. Carrots can sell as high as P180, pechay (baguio) at P180, potato at P150, tomato at P160, ampalaya at P200, eggplant at P200—per kilo. (check prices of other commodities on this list)


noong mga nakaraang taon, sobrang mura ng presyo ng gulay. Kawawa ang mga farmers,” he says. “so ngayon lang kami medyo nakakabawi.”


But he says prices of vegetables will most likely go down by february or march, when the supply of produce goes up again on their next harvest.



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So, let's see, what we have: in search of a manufacturer of p150? Check out panjiva for extensive details on manufacturers of p150. At p150 trading

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