MMA WEEKLY - Financial Astrology commentary, Financial Market Analyst and Market Timer

This year's printed version of Forecast 2026 will also be available in these other languages, as follows :

Go to the sheet for Downloading the video for the Ultimate book on stock market timing.

Note 1 : The purpose of this column is to provide educational insights into the tenets of geocosmic studies as they correspond to economic, political, and socio-psychological matters, as one of several tools that in turn may assist in the practice of financial market timing. This column is not intended, nor should it be used, as an advisory service for trading financial markets, without use of other financial market analysis tools. MMA subscription reports provide that type of advisory service, with specific recommendations for trading.

Note 2 : This week's free weekly column is authored by MMA Analyst Pouyan Zolfagharnia , editor of the MMA Cycles Plus monthly report. Pouyan covers Gold, Silver, NASDAQ, and Crude Oil. The November edition of MMA Cycles Plus will be released on Monday.

Note 3 : There will be no weekly or daily reports issued from December 23 through January 2, 2026. Reports will resume on January 4, 2026.
We may issue an end-of-year open letter during this period outlining the changes ahead in 2026 for all subscribers and followers.
Thank you for your support throughout 2025. It was a year marked by extremes and global uncertainty - conditions we outlined in Forecast 2025 - and we hope you navigated it well.
We look forward to a major turn in the financial markets in 2026 and to working with you as we prepare for what lies ahead. Stay tuned.
P.S. U.S. stock markets will be closed on Thursday, December 25 , in observance of Christmas. Markets will also close early at 1:00 p.m. ET on Christmas Eve.

And Happy Solstice !

Review :

"The BOJ raised its policy rate target to its highest level in 30 years on Friday, another small step back from the world's longest and biggest experiment with ultra-expansionary monetary policy".

- Jason Douglas," The Bank of Japan Raised Rates. Here's Why You Should Care", The Wall Street Journal , December 18, 2025.

The Federal Reserve cut interest rates last week, and the Bank of England followed with cuts this week. The Bank of Japan, however, is bucking the trend by raising rates to combat persistent inflation. Japan's ultra-low interest rates have long attracted sophisticated investors who borrow cheaply in yen and deploy the capital into higher-yielding assets across global financial markets, a strategy known as the carry trade. After several decades, this trade is now under threat as Japanese interest rates rise. We saw a clear example of this in August 2024, when the Nikkei fell by 26%, and the Nasdaq dropped by 17%, illustrating the global reach and systemic impact of the carry trade.

We continue to see a case of intermarket bearish divergence in the American stock markets, with the DJIA recording a new All-Time-High (ATH) last week, while the S&P 500 and Nasdaq failed to take out their respective October highs. It's been a similar picture in all the financial markets across the world, recording an ATH in October-November, and remaining below that high for now.

The precious metals continue to outperform, with Silver extending its parabolic move by another 10% to a new ATH of 6768, whilst Gold also nudged a new ATH of 4409.50. We are now seeing sharp rallies in Platinum and Palladium too. Bitcoin and Ethereum remain within a bearish pattern despite forming a new primary cycle.

Short-Term Geocosmics :

With the Winter Solstice this weekend, we are entering the month of the year when I usually like to see crests forming in markets rising into this time band. This is the period when the Sun transits the sign of Capricorn. The sign for Capricorn is a goat on top of the peak of a mountain, and that has always held a strong meaning for me. Yet, there is something more important taking place this year: we've got the Sun, Venus, and Mercury all hurling towards a conjunction with Mars in January 2026. All four planets will form a conjunction in a short period of time between January 6 and 18.

The last time all four planets formed a conjunction in a short period was August 1987. The planets formed a tight conjunction as part of a grand trine aspect with Jupiter and Neptune, and as the Moon joined them, the DJIA recorded its 18-year crest on August 25, 1987. The DJIA went on to drop 41.2% over 8 weeks, forming the 18-year trough.

Could we see a repetition as the New Moon joins the stellium on January 18 ? The inner planets and the luminaries will be trine Uranus and in sextile to the Saturn-Neptune conjunction. They will form a conjunction with Pluto a few days later. If a crest is to form, history tells us that we could see a very sharp move down. Will the crest form in equity markets, or could we see it transpire in another market ? Other than the equities, which market is rising into its 18-year crest ? Silver !.

In Iran, we celebrate the eve of the winter solstice as the Night of Yalda. The word Yalda means birth. As the longest night of the year, it has long been associated with the rebirth of light. Light itself is linked to the Creator, from whom we are said to have been separated and to whom we shall one day return. This idea is beautifully captured in a poem by Sa'eb Tabrizi :

" On this night of Yalda, the hope of dawn comes to mind,
So my gaze will not falter in the darkness of your absence.
Though this evening of separation is long and hard to bear,
The morning of reunion will come - and this cage will break".

~~Longer-Term Thoughts :~~

To be continued (next week).

Announcements : for Events : see below.

Note A : COMING SOON : THE MMA DAILY OPTIONS REPORT WITH DEREK PANAIA. Starting on January 15, MMA will launch a new daily options service with Derek Panaia. This new service will focus on the S&P, Gold, Copper, T-Notes, Soybeans, and Bitcoin. The service will include intraday updates as necessary, sometimes multiple times per day, depending on market conditions. This is the next step in the evolution of MMA services, from the yearly Forecasts to the monthly and weekly market updates, and to the current MMA daily reports issued each evening after the close. This service will be provided during market hours, as intraday price activity dictates. The focus is on options, but there will also be plenty of commentary on the cyclical and geocosmic conditions currently in effect and those coming up. Ray Merriman will also provide commentary for this new daily service. In fact, this is where Ray will spend most of his time on trading strategies in 2026. For more information on this new service, or to pre-register, click here. If you wish to start now with the beta version, you can sign up for the Options + group, which also includes a recording of the recent options webinar with Derek Panaia, Wyatt Fellows, and Ray Merriman. Here, daily trades and strategies are already underway and performing quite well, with Derek and Ray, at a reduced price. Order now at the special launch price to get in on the action of options trading if you are an active trader !.

Note 1 : FORECAST 2026 IS now out in the mail !!!. Order by December 1 to be included in the first shipment.

MMA's annual Forecast book is an astrological-themed almanac that has served students of cycles and markets since 1976. It provides a cyclical outlook on the collective world psychology, national economy, geopolitical overview, socio-cultural trends, weather and natural calamity potential, as well as financial market projections for the U.S. stock market (DJIA and NASADAQ this year!), the U.S. Treasury market, interest rates, Gold and Silver, currencies (the Euro, U.S. Dollar, Swiss Franc, and Japanese Yen), Bitcoin, Crude Oil, and Grain markets. Its valuable market timing forecasts are based on the historical correlation of market cycles overlapping with geocosmic planetary cycles. Additionally, it provides the three-star critical reversal dates for each market for the year, which have an 80+% accuracy over the years for trading cycle highs and lows when given an orb of three trading days. The book is approximately 250 pages (the largest ever because it's our special 50-year anniversary publication), 8.5" x 11". The price of the Forecast 2026 print edition is $66, and the eBook is $ 55.

MMA is also offering a special bundle discount for those who wish to order both the eBook and printed editions of Forecast 2026 for $86. The eBook typically becomes available one to two weeks before the print edition and avoids delays caused by the postal system - especially for those living overseas. However, many readers prefer the print edition, so ordering both through the Forecast 2026 Bundle makes sense. You will receive the Forecast 2026 eBook on December 15, and your print copy will be mailed in mid-December.

To pre-order this year's special 50th-year edition, click here. It's special! The printed edition is limited. When they sell out, there will be no further printings.

Additional offers : MMA is also offering a special bundle discount for those who order both the eBook and printed editions of Forecast 2026 for $86. The eBook typically becomes available one to two weeks before the print edition and avoids delays caused by the postal system - especially for those living overseas.

There will be 50 autographed copies by Raymond Merriman (no autopen!) of our 50 th -year print edition of the Forecast 2026 book available for $195. Orders must be placed by December 10, or until all 50 copies are requested, whichever comes first.

An audiobook will also be available for only $30.00 if ordered before December 15. The Forecast 2026 Audiobook will include all chapters from the Forecast 2026 book except the financial markets and the calendar/ephemeris pages in the back of the annual book. It provides an excellent overview of what's in store for the coming year(s) for the world and the nation (USA, President Trump, the Federal Reserve Board, the economy, Lunar Nodal Cycles, each outer planet in each sign, and the remarkable "Aries Vortex"). It makes for great listening. Narrated by the silky-smooth voice of Thomas Miller. To order, click here.

This year's printed and eBook versions will also be available in these languages :

German : www.mma-europe.ch or email at info@mma-europe.ch

Japanese : https ://www.toushinippou.co.jp

Chinese : www.nodoor.com

EACH FOREIGN EDITION OF THE FORECAST 2026 BOOK INCLUDES A STOCK MARKET SECTION SPECIFIC TO THAT NATION, WHICH IS NOT INCLUDED IN THE ENGLISH FORECAST BOOK OR IN OTHER INTERNATIONAL EDITIONS. However, we recognize that some readers and investors may be interested in these foreign stock markets without purchasing the entire edition in that nation's language. Therefore, we make those stock market outlooks available in English as a separate service for $35 each or $95 for all three reports. The overseas market reports for 2026 that are available separately in English include Japan's Nikkei , China's Shanghai Composite , and the German DAX and Zurich SMI indices . Readers who prefer to purchase these offerings together may also take advantage of our discounted bundle options, which can be accessed here. Each is available in PDF format and contains monthly charts as of December 1, 2025.

Note 2 : SPECIAL ONE-YEAR ANNIVERSARY SALE ON THE JUPITER REPORT - YOUR MOMENTS OF OPPORTUNITY ! The Jupiter Report was first introduced one year ago, in late September 2024. If you were one of the first to order then, it's now time to update your outlook for the year ahead. The cost of your 14-month Jupiter Report is $69. However, starting this week, we're launching a special one-year anniversary sale at $55 (a 21.5% discount) for those who order their next 14-month Jupiter Report.

The Jupiter Report is written by Raymond Merriman. It is a 30- to 40-page report that all traders (and even non-traders) will find highly valuable. It identifies the times during the year when Jupiter transits are highlighted in your natal chart and explains the meaning of Jupiter's transits to your natal planets and angles over a 14-month period (including one month before your order date and one month after the year ends). As an added bonus, each transit is ranked on a scale from -3 to +3 in terms of favorability for trading. Traders may find this especially valuable! Would you like to know when you are under a +3 transit and therefore most likely to experience trading success ? Or a -3 transit, with a stronger-than-usual potential for misjudgments and losses ?.

The Jupiter Report also makes an excellent holiday or birthday gift.

Here is a recent letter from our options expert, Derek Panaia, to the Options+ group, which closed out exceptional gains on five option trades presented in the July 13 webinar :

On a side note, I started using MMA's Jupiter Report this year, so I only have a few months of history with it. But my first positive Jupiter aspects came in March/April this year. I was trading copper and had made a nice long trade, and started buying puts for a dip. The puts did nothing for a week or so, then copper prices collapsed, and my puts went up sharply in one week. This started exactly on the same day my Jupiter Report showed a positive aspect. Well, fast forward a few months, and I have copper put spreads (the same put spreads you guys bought), and yesterday copper prices collapsed, and the puts made a lot of money. And guess what ? This was one day before my Jupiter aspects started positive again. For me, it is amazing how accurate this report has been. I just wanted to share this, FWIW. The Jupiter Report from MMA is not very expensive, so if you guys use astrology in your trading, you might want to check it out.

Note 3 : The monthly MMA Technology Cycles Report by Wiebke Held was issued last week. The first issue was launched some months ago and prepared readers for an imminent decline in the NASDAQ, which started immediately after that report was released.
Wiebke's excellent two-year research papers were based on extensive studies of long-, intermediate-, and short-term cycles in the NASDAQ spot index (not futures). This report differs in style and substance from the other MMA monthly reports (it is more condensed and less technical). It provides an outlook not only for the NASDAQ but also for the QQQ (ETF) and specific technology stocks such as Microsoft, Google, NVIDIA, TSLA, and Apple. It will also include unique CRDs (critical reversal dates) specific to the NASDAQ, based on Held's meticulous research. Focusing on the NASDAQ is crucial because of the outsized role technology will play in financial markets - especially with Pluto already in Aquarius for the next 20 years and Uranus about to enter Gemini for seven years starting in July 2025. Truly, this will be an exciting report, highlighting many new features of our technology renaissance. This is the future of market timing applications in this "New Aira".
If you want to receive the next issue of this new report, sign up now by clicking here.
Wiebke Held was the special guest on last week's Geocosmic Week in Review and Look Ahead , with Gianni Di Poce. You can view this interview now by clicking here.

Note 4 : The MMA Grain Cycles Report will be issued this week. Written by top MMA Grains Analyst Wyatt Fellows, this monthly report is a must for those who trade or farm Soybeans, Corn, and/or Wheat, as Wyatt himself does. These reports are very important now because of the approaching 36-year synodic (conjunction) cycle of Saturn and Neptune, which has a strong historical correlation to long-term cycles in all grain markets. This is a drought cycle. To subscribe to this excellent monthly report, click here.
If you trade grains or are in the farming business and need an accurate timing and understanding of when to hedge your crop, this report is not to be missed! To order, click here.
With a primary cycle low due in Soybeans, and the Saturn-Neptune signature in effect in 2025-2026, a major move in grains may already be underway, with far more to go!

Note 5 : THE MMA WEEKLY YouTube show Geocosmic Week in Review and Look Ahead, with Gianni Di Poce, is now conducted on Wednesday evenings !. Each 5-15 minute FREE episode reviews the market activity of the past week and offers a preview of the geocosmic signatures in effect for the next week and beyond. You may subscribe to MMA's YouTube Channel today at no cost and get alerted when a new weekly episode is released! Tune in on Wednesday evenings to hear Gianni and his guests update financial markets on YouTube!

Note 6 : The September ISSUE OF THE MMA Monthly Cycles Report Plus+, edited by Pouyan Zolfagharnia, will be released this week. This mid-month addendum to the MMA Cycles Report features Pouyan's outlook on Gold, Silver, NASDAQ, and Crude Oil. It includes stunning graphics and charts (people love it!). The report contains more illustrations and references to geocosmics than most MMA Cycles reports and is available only to subscribers of the MMA Monthly Cycles Report. If you wish to try this month's addendum along with the latest issue of the MMA Monthly Cycles Report, sign up online at the link above. A subscription for a monthly copy of both reports is $55. This includes the most recent June issue of the MMA Cycles Report and the June MMA Cycles Report Plus+ addendum coming out this week. For further information and ordering instructions, please click here.

Note 7 : The MMA Monthly ETF Report by Gianni Di Poce was released last week.
Many have asked about a monthly report on Bitcoin, and the Monthly ETF Report does this via BITO, the ETF on Bitcoin. Written by MMA market analyst Gianni Di Poce, the ETF is a monthly newsletter that everyone trading ETFs is encouraged to read, especially those that seek less risky trading venues than futures. This report covers 8 ETFs on a monthly basis for readers. The ETFs include : SPY (S&P 500), GDX (gold miners), BITO (Bitcoin), TLT (+20-year Treasuries), USO (Crude Oil), XLV (healthcare), XLK (technology), and XHB (homebuilders). This is a report that was requested by popular demand and Gianni's insights and strategies are excellent. For further information, click here.

Note 8 : THE MONTHLY MMA CHINESE SHANGHAI STOCK MARKET (SSE) REPORT was issued last week. It looks like the SSE has completed its 5.5-year cycle low earlier this year with its lowest price since January 2019. And as of last week, SSE has soared nearly 17% in the past month. For information on subscribing to this report and the ETF that follows it, click here.

Note 9 : MMA'S FREE WEEKLY COLUMN IS NOW ON SPOTIFY, APPLE, AND AMAZON PODCAST! Now you can listen to a podcast of this weekly column by Thomas Miller on Saturdays ! Just follow Merriman Market Analyst on Spotify or Apple to listen to all our episodes. New Podcast episodes will be released every weekend. This is a FREE service and is available to everyone. Checkout out our Podcasts on Apple, Spotify, and Apple Music. It makes for great listening!.

Note 10 : The MMA Solar-Lunar App now offers reversal signals on the DJIA, NASDAQ, Gold, and Silver to all subscribers! .

Now there will be four markets with daily weighted values provided, which includes DJIA, NASDAQ, Gold, and Silver.

This app is an ideal tool to have in your back pocket if you are a short-term swing trader looking for high-probability dates that identifies isolated lows and highs in the DJIA, Gold, or Silver markets. Since it was first three months ago, it has been uncannily accurate in identifying swing lows and highs in each market. It is available only on Apple products (iPhone and iPad) at this time, although we are getting close to developing it on Android phones too, maybe by the end of this year.

How does it work ?. Based on historical frequencies, the higher the weighted value, the greater the probability of a swing trade reversal for the next 1-7 trading days (usually 2-5 days). Built into the app are instructions for ideal setups and explanatory FAQs. It's pretty amazing!.

P.S. : The MMA Solar/Lunar App gives each market an average of one trade per week every five trading day. The Solar/Lunar App is designed for "swing trades" looking for 2-5% moves from isolated lows or highs. If you like active trading signals based on solar/lunar combinations, the MMA App is for you!.

To learn more about the MMA App, click here. To order the app, go to Apple's App store and type in Merriman Solar/Lunar Reversals.

SPECIAL ALERT : We are working on a Bitcoin and Ethereum Luar App. Projected release date is late January-February. Stay tuned for information ON HOW TO ORDER.

Note 11 : COMING SOON! EVOLUTIONARY ASTROLOGY : THE JOURNEY OF THE SOUL THROUGH STATES OF CONSCIOUSNESS, by Raymond Merriman, written in 1993, is being released as an audiobook narrated by Thomas Miller. The first edition, originally published in 1977, introduced this remarkable subject to the astrological community, where it has since become one of the field's major branches. Get ready to listen to the original work on Evolutionary Astrology that brought a spiritual perspective to the study of astrology from the late 1970s through today. More information about the availability of this audiobook will be announced in about two weeks.

Note 12 : RECORDINGS OF MMA'S SPECIAL SIX-WEEK COURSE ON "THE BASIC PRINCIPLES OF GEOCOSMIC STUDIES FOR FINANCIAL MARKET TIMING" ARE NOW AVAILABLE!!! Led by Gianni Di Poce and backed up by Ray Merriman, this course is designed to teach students the basic principles of planets, signs, and aspects (including retrograde and direct stations) as used in MMA's market timing methodology - one of its most important tools. The course explains which planets and signs rule the various sectors of the economy and financial markets. In addition, it covers how to use an ephemeris and astrological software (Solar Fire) for important routines such as calculating charts, generating transit "hit lists", and identifying signs, ingresses, planetary stations, and aspects - the essential cosmic features necessary for determining market reversal periods.
The course is especially useful for those interested in taking the MMTA4 program, which begins on September 27, or for anyone who wishes to deepen their astrological knowledge. The cost for these six introductory lessons, which last about two hours each, is $300. This is a great opportunity to learn basic astrology from a master economic astrologer! Click here to order now!.

Note 13 :

Our monthly MMA Cycles Report : The monthly edition of the MMA Montly Cycles Report (ICR) and its companion MMA Japanese Cycles and MMA European Cycles reports was released last week, via posting on our web site, or attachment via direct emails, for subscribers. If you are subscriber to any these monthly reports and did not receive it, let us know at once via our email or our email.

Each issue includes our outlook for the U.S. stock market, Gold, Silver, Copper, Treasuries, the Euro currency, Crude Oil, and Soybeans. The MMA Monthly Cycles Report also provides MMA's original geocosmic critical reversal dates (CRDs) and solar/lunar reversal dates for traders over the next several weeks, as well as trading strategies for position traders.
Late November historically begins a bullish period in U.S. stocks ("Santa Claus Rally"). Will it do so again this year, with Venus forming a grand water trine to the Saturn-Neptune conjunction and Jupiter ? .

- This report covers our long term analysis of the stock market (DJIA and S&P futures), Gold, Silver, T-Notes, Euro and Swiss Franc currencies, grains and crude oil. It also provides the list of geocosmic and solar-lunar reversal zones for the 1-2 months. This report comes out Monday night to subscribers.
- The MMA Japanese Markets Cycles report covers the Nikkei, JGB Bonds, and the Dollar-Yen.
- The new MMA Europe Cycles report covers the German DAX, Swiss SMI, and Netherlands AEX stock indices, each in english only and will be available on Wednesday.
One month trial subscriptions are available for this service for $35.00, which includes the current issue.
For subscription information, please go to our web site, or call us at 1-248-626-3034. If you are not a subscriber, you can check this service out on a one month trial basis for only $35.00, or save by ordering a 30-months or one year subscription.

MMA's annual Forecast Book : see above

Upcoming Events :

JANUARY 15 2026 : The start of the new MMA Daily Options Report with Derek Panaia.

FEBRUARY 22, 2026 : MMA'S ANNUAL FORECAST 2026 WEBINAR WITH RAY MERRIMAN.Details to be announced soon. For now, SAVE THE DATE!!..

MAY 20-24, 2026 : MMA'S NEXT INVESTMENT RETREAT, LAKE BLED, SLOVENIA. Save the date! Registration will open in December. The presentations will also be available via Zoom for those unable to attend in person. The theme will focus more on market timing and trading at this event. It's going to be great !.

SEPTEMBER 3, 2026 : A PRE-CONFERENCE WORKSHOP ON FINANCIAL ASTROLOGY BY RAYMOND MERRIMAN, 1:00-5:00 PM. This workshop will take place at the United Astrology Congress (UAC), the largest astrological conference in the world, which takes place every 4-8 years. More than 150 world-class astrologers will be presenting. The conference will be held at the Marriott Hotel in downtown Chicago. In addition to the workshop, Ray will present two lectures during the six-day event : one on mundane astrology ("What Is Happening in the World from an Astrological Viewpoint") on September 5, and another on "The U.S. Stock Market: Timing Tools and Outlook" on September 7 (Labor Day). Discounts are available to those who register by January 20. For more information, visit www.uacastrology.com.

The newly revised The Sun, The Moon, and Silver Book : Secrets of a Silver Trader, is now out. This is a book that you will use as a reference guide for...many, many years. It identifies all the key Sun-Moon combinations that have a higher (and lower) than expected probability of correlating with 4% or greater reversals in COMEX Silver. It also identifiesBig Range Days - those days in which the range of Silver is most likely to be 3.5% or more of the price of Silver, which is a great tool for day traders. This book fulfills the dream of all traders : high probability winning trade possibilities, with minimal market exposure. It is thatextra edge. And Silver is a great market to trade now. The cost is $125.00. For ordering on line.

The new book titled Solar-Lunar Keys to Gold Prices : Secrets of a Gold Trader, is now out. The long awaited sequel to the Secrets of a Silver Trader is due out in late October (maybe before)!!!
Now, GOLD as you have never seen it by night or day. The studies for the soon-to-be-released book are now completed and the results are now being used in the weekly and daily MMA subscription reports for short-term trading strategies in Gold. That's right... historically tested Solar-Lunar Correlations to trading reversals in the Gold Market - as only available from Raymond Merriman. The studies cover over 40 years of daily Gold, starting from December 31, 1974 through April 2015. The book will change how you approach trading Gold using these leading solar-lunar indicators, with very clear instructions as to whento expect 3%, 4%, or greater reversals in Gold prices and how to trade them. It will be a valuable guide for short-term traders of Gold, GLD, and other ETF's involving Gold prices. You may call 1-248-626-3034 or email ordersmma@gmail.com and place your pre-order now. It is also now available for purchase on the MMA web site at www.mmacycles.com. Order now and get the first printing of this new book on trading Gold!

Disclaimer and statement of purpose : The purpose of this column is not to forecast the future movement of various financial markets. However, that is the purpose of the MMA (Merriman Market Analyst) subscription services. This column is not a subscription service. It is a free service, except in those cases where a fee may be assessed to cover the cost of translating this column from English into a non-English language. This weekly report is written with the intent to educate the reader on the relationship between astrological factors and collective human activities as they are happening. In this regard, this report will often cite what happened in various stock and financial markets throughout the world in the past week and discuss that movement in light of the geocosmic signatures that were in effect. It will then identify the geocosmic factors that will be in effect in the next week, or even month, or even years, and the author's understanding of how these signatures may affect human activity in the times to come. The author (Merriman) will do this from the perspective of a cycles analyst looking at the military, political, economic, and even financial markets of the world. It is possible that some forecasts will be made based on these factors. However, the primary goal is to both educate and alert the reader as to the psychological climate we are in from an astrological perspective. The hope is that it will help the reader understand the psychological dynamics that underlie (or coincide with) the news events and their potential effect on financial markets.

No guarantee as to the accuracy of this report is being made here. Any decisions in financial markets are solely the responsibility of the reader, and neither the author nor the publishers assume any responsibility at all for those individual decisions. Reader should understand that futures and options trading are considered high risk.

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