India Equities 18 Mar 2011

India

Company Name

Glenn Ho 3I INFOTECH LTD

glenn.ho@apftrading.com ABAN OFFSHORE LTDABB LTD

Jay Ng ABG SHIPYARD LTD

jay.ng@apftrading.com ABHISHEK INDUSTRIES LTDACC LTDACCENTIA TECHNOLOGIES LTD

Website ACKRUTI CITY LTD

www.apftrading.com ACTION CONSTRUCTION EQUIPMEN

www.asiapacfinance.com ADANI ENTERPRISES LTDADHUNIK METALIKS LTD

Notes ADITYA BIRLA NUVO LTDADVANTA INDIA LTDAGRO TECH FOODS LTDAHLUWALIA CONTRACTS LTDAIA ENGINEERING LTDAKZO NOBEL INDIA LTDALEMBIC LTDALFA LAVAL INDIA LTDALLAHABAD BANKALLCARGO GLOBAL LOGISTICS LTALLIED DIGITAL SERVICES LTDALOK INDUSTRIES LTDALSTOM PROJECTS INDIA LTDAMARA RAJA BATTERIES LTDAMBUJA CEMENTS LTDAMTEK AUTO LTDANANT RAJ INDUSTRIES LTDANDHRA BANKANSAL PROPERTIES & INFRASTRUAPAR INDUSTRIES LTDAPOLLO HOSPITALS ENTERPRISEAPOLLO TYRES LTDAREVA T&D INDIA LTDARVIND LTDASAHI INDIA GLASS LTDASHIANA HOUSING LTDASHOK LEYLAND LTDASIAN PAINTS LTDASTRA MICROWAVE PRODUCTS LTDASTRAL POLY TECHNIK LTDATLAS COPCO (INDIA) LTDAUROBINDO PHARMA LTDAUTOMOTIVE AXLES LTDAVENTIS PHARMA LTDAXIS BANK LTD

1. Sectors as defined by Global Industry Classification Standard (GICS).

2. Fair Value Deviation is the deviation of Analysts' Fair Value consensus, from the share price as of the date of this report. Percentages define the extent of this deviation. Expert Opinion summarises whether the stock is under or overvalued based on the deviations. Fair Value Estimates older than 3 months are excluded.

3. Price action is quantified for Daily, Weekly and Monthly Charts using a proprietary algorithm, based on Ichimoku Kinko Hyo analysis. 100% indicates maximum bullishness while -100% indicates maximum bearishness.

4. This column indicates a "Yes" when Fundamental and Technical Indicators all point bullish. As long as any indicator displays bearishness, a "No" is displayed.

5. Stocks with Fundamental or Technical components which are non-measurable have been excluded from this list.

B. L. KASHYAP AND SONS LTDBAJAJ AUTO LTDBAJAJ ELECTRICALS LTD

Using This Report BAJAJ FINANCE LTDBAJAJ FINSERV LTDBAJAJ HINDUSTHAN LTDBAJAJ HOLDINGS AND INVESTMENBALAJI TELEFILMS LTDBALKRISHNA INDUSTRIES LTDBALLARPUR INDUSTRIES LTDBALRAMPUR CHINI MILLS LTDBANCO PRODUCTS (INDIA) LTDBANK OF BARODABANK OF INDIABASF INDIA LTDBATA INDIA LTDBAYER CROPSCIENCE LTDBEML LTDBERGER PAINTS INDIA LTDBGR ENERGY SYSTEMS LTDBHARAT BIJLEE LTDBHARAT ELECTRONICS LTDBHARAT FORGE LTDBHARAT HEAVY ELECTRICALSBHARAT PETROLEUM CORP LTDBHARATI SHIPYARD LTDBHARTI AIRTEL LTDBHUSHAN STEEL LTDBILCARE LTDBIOCON LTDBIRLA CORP LTDBLUE STAR LTDBOMBAY DYEING & MFG CO LTDBOMBAY RAYON FASHIONS LTDBOSCH LTDBRIGADE ENTERPRISES LTDBRITANNIA INDUSTRIES LTDC & C CONSTRUCTIONS LTDCADILA HEALTHCARE LTDCAIRN INDIA LTDCAMSON BIO TECHNOLOGIES LTDCANARA BANKCARBORUNDUM UNIVERSAL LTDCASTROL INDIA LTDCEAT LTDCENTRAL BANK OF INDIACENTURY PLYBOARDS INDIA LTDCENTURY TEXTILES & INDS LTDCESC LTDCHAMBAL FERTILIZERS & CHEMCHENNAI PETROLEUM CORP LTDCINEMAX INDIA LTDCIPLA LTDCITY UNION BANK LTDCMC LTD

1. Sectors as defined by Global Industry Classification Standard (GICS).

2. Fair Value Deviation is the deviation of Analysts' Fair Value consensus, from the share price as of the date of this report. Percentages define the extent of this deviation. Expert Opinion summarises whether the stock is under or overvalued based on the deviations. Fair Value Estimates older than 3 months are excluded.

3. Price action is quantified for Daily, Weekly and Monthly Charts using a proprietary algorithm, based on Ichimoku Kinko Hyo analysis. 100% indicates maximum bullishness while -100% indicates maximum bearishness.

4. This column indicates a "Yes" when Fundamental and Technical Indicators all point bullish. As long as any indicator displays bearishness, a "No" is displayed.

5. Stocks with Fundamental or Technical components which are non-measurable have been excluded from this list.

Our research aims to bridge the gap between fundamental and technical analysis, with the goal of seeking alignment for high probability trades.

For Technical Anlaysis, we designed the system to identify trends, thus the alignment of daily/weekly/month price action is an important consideration. Technical Analysis will certainly be more reactive to current economics, and thus more useful for market timing.

APF Trading's approach is to seek alignment across Fundamental and Technical Analysis. This is indicated in the last column under Alignment.

COLGATE PALMOLIVE (INDIA)CONSOLIDATED CONSTRUCTION COCONTAINER CORP OF INDIA LTDCORE PROJECTS & TECHNOLOGIESCOROMANDEL INTERNATIONAL LTDCORPORATION BANKCRISIL LTDCROMPTON GREAVES LTDCUMMINS INDIA LTDDABUR INDIA LTDDALMIA BHARAT SUGAR & INDUSTDAMODAR THREADS LTDDCM SHRIRAM CONSOLIDATEDDECCAN CHRONICLE HLDGS LTDDEEPAK FERTILIZERS & PETRODELTA CORP LTDDENA BANKDEVELOPMENT CREDIT BANK LTDDEWAN HOUSING FINANCE CORPDHANLAXMI BANK LTDDHANUKA AGRITECH LTDDISH TV INDIA LTDDISHMAN PHARMACEUTICALS & CHDIVI'S LABORATORIES LTDDLF LTDDR. REDDY'S LABORATORIESDREDGING CORP OF INDIA LTDDYNAMATIC TECHNOLOGIES LTDECLERX SERVICES LTDEDELWEISS CAPITAL LTDEDUCOMP SOLUTIONS LTDEICHER MOTORS LTDEID PARRY INDIA LTDEIH LTDELDER PHARMACEUTICALS LTDELECON ENGINEERING CO LTDELECTROSTEEL CASTINGS LTDELGI EQUIPMENTS LTDEMAMI LTDEMCO LTDENGINEERS INDIA LTDENTERTAINMENT NETWORK INDIAERA INFRA ENGINEERING LTDESCORTS LTDESS DEE ALUMINIUM LTDESSAR OIL LTDESSAR SHIPPING PORTS & LOGSESSEL PROPACK LTDEVEREST INDUSTRIES LTDEVEREST KANTO CYLINDER LTDEVERONN EDUCATION LTDEXIDE INDUSTRIES LTDFAG BEARINGS INDIA LTDFEDERAL BANK LTDFINANCIAL TECHN (INDIA) LTD

FINOLEX CABLES LTDFINOLEX INDUSTRIES LTDFIRSTSOURCE SOLUTIONS LTDFORTIS HEALTHCARE LTDGABRIEL INDIA LTDGAIL INDIA LTDGAMMON INDIA LTDGAMMON INFRASTRUCTURE PROJECGANESH HOUSING CORP LTDGARDEN SILK MILLS LTDGARWARE OFFSHORE SERVICES LTGATEWAY DISTRIPARKS LTDGAYATRI PROJECTS LTDGDL LEASING & FINANCE LTDGEI INDUSTRIAL SYSTEMS LTDGENUS POWER INFRASTRUCTUREGEOMETRIC LTDGIC HOUSING FINANCE LTDGITANJALI GEMS LTDGLAXOSMITHKLINE CONSUMER HEAGLAXOSMITHKLINE PHARMACEUTICGLENMARK PHARMACEUTICALS LTDGMR INFRASTRUCTURE LTDGODAWARI POWER AND ISPAT LTDGODREJ CONSUMER PRODUCTS LTDGRAPHITE INDIA LTDGRASIM INDUSTRIES LTDGREAT EASTERN SHIPPING COGREAT OFFSHORE LTDGREAVES COTTON LTDGREENPLY INDUSTRIES LTDGRINDWELL NORTON LTDGRUH FINANCE LTDGTL INFRASTRUCTURE LTDGUJARAT APOLLO INDUSTRIES LTGUJARAT GAS CO LTDGUJARAT INDS POWER CO LTDGUJARAT MINERAL DEV CORP LTDGUJARAT NARMADA VALLEY FERTGUJARAT NRE COKE LTDGUJARAT STATE FERT & CHEMICAGUJARAT STATE PETRONET LTDGVK POWER & INFRASTRUCTUREHARRISONS MALAYALAM LTDHAVELLS INDIA LTDHCL INFOSYSTEMS LTDHCL TECHNOLOGIES LTDHDFC BANK LTDHEG LTDHERO HONDA MOTORS LTDHEXAWARE TECHNOLOGIES LTDHIMATSINGKA SEIDE LTDHINDALCO INDUSTRIES LTDHINDUJA GLOBAL SOLUTIONS LTDHINDUSTAN CONSTRUCTION CO

HINDUSTAN DORR-OLIVER LTDHINDUSTAN NATL GLASS & INDUSHINDUSTAN PETROLEUM CORPHINDUSTAN UNILEVER LTDHINDUSTAN ZINC LTDHONEYWELL AUTOMATION INDIAHOTEL LEELAVENTURE LTDHOUSING DEVELOPMENT & INFRASHOUSING DEVELOPMENT FINANCEHSIL LTDHT MEDIA LTDHYDERABAD INDUSTRIES LTDIBN18 BROADCAST LTDICICI BANK LTDICRA LTDICSA INDIA LTDIDBI BANK LTDIDEA CELLULAR LTDIFCI LTDINDIA CEMENTS LTDINDIA INFOLINE LTDINDIABULLS FINANCIAL SERVICEINDIABULLS REAL ESTATE LTDINDIAN BANKINDIAN HOTELS CO LTDINDIAN OIL CORPORATION LTDINDIAN OVERSEAS BANKINDO TECH TRANSFORMERS LTDINDOCO REMEDIES LTDINDRAPRASTHA GAS LTDINDUSIND BANK LTDINFO EDGE INDIA LTDINFOSYS TECHNOLOGIES LTDINFOTECH ENTERPRISES LTDINFRASTRUCTURE DEV FINANCEING VYSYA BANK LTDINOX LEISURE LTDIPCA LABORATORIES LTDIRB INFRASTRUCTURE DEVELOPERISMT LTDITC LTDIVRCL INFRASTRUCTURES & PROJJ.B. CHEMICALS & PHARMA LTDJ.KUMAR INFRAPROJECTS LTDJAGRAN PRAKASHAN LTDJAI BALAJI INDUSTRIES LTDJAIN IRRIGATION SYSTEMS LTDJAIPRAKASH ASSOCIATES LTDJAIPRAKASH POWER VENTURES LTJAMMU & KASHMIR BANK LTDJAYSHREE TEA & INDUSTRIESJBF INDUSTRIES LTDJET AIRWAYS INDIA LTDJINDAL POLY FILMS LTDJINDAL SAW LTD

JINDAL STEEL & POWER LTDJK CEMENT LTDJK LAKSHMI CEMENT LTDJK PAPER LTDJK TYRE & INDUSTRIES LTDJOCIL LTDJSW STEEL LTDJUBILANT LIFE SCIENCES LTDJYOTHY LABORATORIES LTDJYOTI STRUCTURES LTDKAJARIA CERAMICS LTDKALINDEE RAIL NIRMAN (ENGIN)KALPATARU POWER TRANSMISSIONKAMAT HOTELS (INDIA)KANSAI NEROLAC PAINTS LTDKARNATAKA BANK LTDKARUR VYSYA BANK LTDKARUTURI GLOBAL LTDKAVERI SEED CO LTDKEC INTERNATIONAL LTDKEI INDUSTRIES LTDKESORAM INDUSTRIES LTDKEWAL KIRAN CLOTHING LTDKINGFISHER AIRLINES LTDKIRI DYES AND CHEMICALS LTDKIRLOSKAR BROTHERS LTDKNR CONSTRUCTIONS LTDKOTAK MAHINDRA BANK LTDKPIT CUMMINS INFOSYSTEMS LTDKPR MILL LTDKRBL LTDKS OILS LTDKSB PUMPS LTDKSK ENERGY VENTURES LTDL.G. BALAKRISHNAN & BROS LTDLAKSHMI MACHINE WORKS LTDLANCO INFRATECH LTDLARSEN & TOUBRO LTDLIC HOUSING FINANCE LTDLUPIN LTDMADHUCON PROJECTS LTDMADRAS CEMENTS LTDMAGMA FINCORP LTDMAHANAGAR TELEPHONE NIGAMMAHARASHTRA SEAMLESS LTDMAHINDRA & MAHINDRA FIN SECSMAHINDRA & MAHINDRA LTDMAHINDRA FORGINGS LTDMAHINDRA LIFESPACE DEVELOPERMAN INDUSTRIES (INDIA) LTDMANAPPURAM GEN FIN & LEASINGMANGALAM CEMENT LTDMANGALORE REFINERY & PETROMARG LTDMARICO LTD

MARUTI SUZUKI INDIA LTDMASTEK LTDMAX INDIA LTDMCLEOD RUSSEL INDIA LTDMCNALLY BHARAT ENGINEERINGMERCATOR LINES LTDMERCK LTDMINDTREE LTDMIRC ELECTRONICS LTDMONNET ISPAT & ENERGY LTDMONSANTO INDIA LTDMOTHERSON SUMI SYSTEMS LTDMOTILAL OSWAL FINANCIAL SERVMPHASIS LTDMRF LTDMUNDRA PORT AND SEZ LTDNAGARJUNA CONSTRUCTION CONAGARJUNA FERTILIZERS & CHNATIONAL ALUMINIUM CO LTDNAVA BHARAT VENTURES LTDNAVNEET PUBLICATIONS INDIANELCO LTDNESCO LTDNESTLE INDIA LTDNETWORK 18 MEDIA & INVTS LTDNEYVELI LIGNITE CORPORATIONNIIT LTDNIIT TECHNOLOGIES LTDNILKAMAL LTDNITIN FIRE PROTECTION INDSNMDC LTDNOIDA TOLL BRIDGE CO LTDNOVARTIS INDIA LTDNRB BEARINGS LTDNTPC LTDNUCLEUS SOFTWARE EXPORTS LTDOIL & NATURAL GAS CORP LTDOMAXE LTDONMOBILE GLOBAL LTDOPTO CIRCUITS INDIA LTDORACLE FINANCIAL SERVICESORBIT CORPORATION LTDORCHID CHEMICALS & PHARMAORIENT PAPER & INDUSTRIESORIENTAL BANK OF COMMERCEPAGE INDUSTRIES LTDPANACEA BIOTEC LTDPANTALOON RETAIL INDIA LTDPARENTERAL DRUGS INDIA LTDPARSVNATH DEVELOPERS LTDPATEL ENGINEERING LTDPATELS AIRTEMP (I) LTDPATNI COMPUTER SYSTEMS LTDPENINSULA LAND LTDPETRONET LNG LTD

PFIZER LIMITEDPHILLIPS CARBON BLACK LTDPHOENIX MILLS LTDPHYTO CHEM INDIA LTDPIDILITE INDUSTRIES LTDPIRAMAL GLASS LTDPIRAMAL HEALTHCARE LTDPIX TRANSMISSIONS LTDPOLARIS SOFTWARE LAB LTDPOLYPLEX CORPORATION LTDPOWER FINANCE CORPORATIONPOWER GRID CORP OF INDIA LTDPRAJ INDUSTRIES LTDPRAKASH INDUSTRIES LTDPRATIBHA INDUSTRIES LTDPRISM CEMENT LTDPROCTER & GAMBLE HYGIENEPROVOGUE (INDIA) LTDPSL LTDPTC INDIA LTDPUNJ LLOYD LTDPUNJAB NATIONAL BANKPURAVANKARA PROJECTS LTDPVR LTDRADICO KHAITAN LTDRAIN COMMODITIES LTDRAINBOW PAPERS LTDRALLIS INDIA LTDRAMKRISHNA FORGINGS LTDRANBAXY LABORATORIES LTDRANE HOLDINGS LTDRASHTRIYA CHEMICALS & FERTRATNAMANI METALS & TUBES LTDRAYMOND LTDREDINGTON INDIA LTDREI AGRO LTDRELIANCE CAPITAL LTDRELIANCE COMMUNICATIONS LTDRELIANCE INDUSTRIES LTDRELIANCE INFRASTRUCTURE LTDRELIANCE POWER LTDRELIGARE ENTERPRISES LTDRICO AUTO INDUSTRIES LTDROLTA INDIA LTDROYAL ORCHID HOTELS LTDRSWM LTDRUCHI SOYA INDUSTRIES LTDRURAL ELECTRIFICATION CORPS. KUMARS NATIONWIDE LTDSABERO ORGANICS GUJARAT LTDSADBHAV ENGINEERING LTDSAGAR SYSTECH LTDSANGAM (INDIA) LTDSANGHVI MOVERS LTDSARDA ENERGY & MINERALS LTD

SASKEN COMMUNICATION TECHNOSATYAM COMPUTER SERVICES LTDSELAN EXPLORATION TECHNOLOGYSESA GOA LTDSETCO AUTOMOTIVE LTDSHASUN PHARMACEUTICALS LTDSHIPPING CORP OF INDIA LTDSHIVA TEXYARN LTDSHIV-VANI OIL & GAS EXPLORATSHOPPER'S STOP LTDSHREE CEMENT LTDSHREE RENUKA SUGARS LTDSHRI LAKSHMI COTSYN LTDSHRIRAM CITY UNION FINANCESHRIRAM EPC LTDSHRIRAM TRANSPORT FINANCESIEMENS INDIA LTDSIMPLEX INFRASTRUCTURES LTDSINTEX INDUSTRIES LTDSKF INDIA LTDSML ISUZU LTDSOBHA DEVELOPERS LTDSONA KOYO STEERING SYSTEMSSOUTH INDIAN BANK LTDSPICEJET LTDSRF LTDSTATE BANK OF INDIASTEEL AUTHORITY OF INDIASTEEL STRIPS WHEELS LTDSTERLITE INDUSTRIES INDIA LTSTERLITE TECHNOLOGIES LTDSTRIDES ARCOLAB LTDSUBROS LTDSUN PHARMACEUTICAL INDUSSUN TV NETWORK LTDSUNDARAM CLAYTON LTDSUNDARAM FINANCE LTDSUNDRAM FASTENERS LTDSUNIL HITECH ENGINEERS LTDSUNTECK REALTY LTDSUPRAJIT ENGINEERING LTDSUPREME INDUSTRIES LTDSUPREME INFRASTRUCTURE INDIASURYA ROSHNI LTDSUZLON ENERGY LTDSWARAJ ENGINES LTDSYMPHONY LTDSYNDICATE BANKTAJ GVK HOTELS & RESORTS LTDTAKE SOLUTIONS LTDTAMIL NADU NEWSPRINT & PAPERTATA CHEMICALS LTDTATA COMMUNICATIONS LTDTATA CONSULTANCY SVCS LTDTATA ELXSI LTD

TATA GLOBAL BEVERAGES LTDTATA MOTORS LTDTATA POWER CO LTDTATA SPONGE IRON LTDTATA STEEL LTDTATA TELESERVICES MAHARASHTRTECH MAHINDRA LTDTHERMAX LTDTIL LTDTILAKNAGAR INDUSTRIES LTDTIME TECHNOPLAST LTDTITAGARH WAGONS LTDTITAN INDUSTRIES LTDTORRENT PHARMACEUTICALS LTDTORRENT POWER LTDTRANSFORMERS & RECTIFIERS INTRANSPORT CORP OF INDIA LTDTRENT LTDTRF LTDTRIVENI ENGINEERING & INDUSTT LTDTTK PRESTIGE LTDTUBE INVESTMENTS OF INDIATULIP TELECOM LTDTV TODAY NETWORK LTDTVS MOTOR CO LTDUB ENGINEERING LTDUCO BANKULTRATECH CEMENT LTDUNICHEM LABORATORIES LTDUNION BANK OF INDIAUNITECH LTDUNITED BREWERIES LTDUNITED PHOSPHORUS LTDUNITED SPIRITS LTDUNITY INFRAPROJECTS LTDUSHA MARTIN LTDUSHER AGRO LTDUTV SOFTWARE COMMUNICATIONSV.I.P. INDUSTRIES LTDVARDHMAN TEXTILES LTDVARUN SHIPPING CO LTDV-GUARD INDUSTRIES LTDVIJAYA BANKVIMTA LABS LTDVIPUL LTDVISA STEEL LTDVISAKA INDUSTRIES LTDVOLTAMP TRANSFORMERS LTDVOLTAS LTDVST INDUSTRIES LTDVST TILLERS TRACTORS LTDWABCO-TVS (INDIA) LTDWELSPUN CORP LTDWEST COAST PAPER MILLS LTD

WHIRLPOOL OF INDIA LTDWIPRO LTDWIRE AND WIRELESS INDIA LTDWYETH LTDYES BANK LTDZEE ENTERTAINMENT ENTERPRISEZEE NEWS LTDZENSAR TECHNOLOGIES LTDZUARI INDUSTRIES LTDZYDUS WELLNESS LTD

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India Equities 18 Mar 2011

Price

Sector Last Price Fair Value Deviation

Software & Services 40.25 54%Energy 581.70 35%Capital Goods 749.40 -20%Capital Goods 347.00 14%Consumer Durables & Apparel 13.23 36%Materials 1,021.10 -7%Software & Services 122.55 158%Real Estate 221.55 90%Capital Goods 39.00 69%Capital Goods 600.55 17%Materials 92.20 59%Capital Goods 763.55 30%Food Beverage & Tobacco 295.15 -8%Food Beverage & Tobacco 335.90 25%Capital Goods 123.40 23%Capital Goods 335.00 19%Materials 730.00 22%Pharmaceuticals, Biotechnology 64.55 23%Capital Goods 1,451.00 -21%Banks 207.40 29%Transportation 158.90 22%Software & Services 78.55 144%Consumer Durables & Apparel 20.50 45%Capital Goods 528.70 9%Capital Goods 178.40 20%Materials 132.45 -6%Automobiles & Components 131.30 35%Real Estate 77.15 82%Banks 138.55 25%Real Estate 35.25 155%Capital Goods 190.80 82%Health Care Equipment & Servic 490.85 16%Automobiles & Components 65.05 11%Capital Goods 229.00 22%Consumer Durables & Apparel 52.10 40%Automobiles & Components 83.40 -12%Real Estate 121.20 44%Capital Goods 52.00 45%Materials 2,510.00 15%Technology Hardware & Equipmen 37.00 46%Capital Goods 123.05 59%Capital Goods 2,666.45 -37%Pharmaceuticals, Biotechnology 202.00 76%Automobiles & Components 388.85 24%Pharmaceuticals, Biotechnology 1,889.00 -1%Banks 1,269.20 24%

GICS (1) Fundamental Analysis (2)

Capital Goods 19.35 47%Automobiles & Components 1,358.35 16%Consumer Durables & Apparel 225.30 20%Diversified Financials 630.00 49%Insurance 513.70 19%Food Beverage & Tobacco 68.60 12%Diversified Financials 739.65 41%Media 33.05 21%Automobiles & Components 132.30 82%Materials 32.00 31%Food Beverage & Tobacco 70.55 27%Automobiles & Components 67.70 52%Banks 891.80 21%Banks 435.55 16%Materials 480.30 22%Consumer Durables & Apparel 346.30 21%Materials 832.00 55%Capital Goods 660.05 46%Materials 84.95 24%Energy 440.60 53%Capital Goods 932.00 42%Capital Goods 1,656.70 19%Automobiles & Components 325.20 17%Capital Goods 1,921.50 35%Energy 558.85 17%Capital Goods 144.60 31%Telecommunication Services 318.65 19%Materials 438.60 -2%Pharmaceuticals, Biotechnology 417.10 113%Pharmaceuticals, Biotechnology 326.85 30%Materials 300.00 44%Capital Goods 326.10 23%Consumer Durables & Apparel 353.10 1%Consumer Durables & Apparel 253.15 1%Automobiles & Components 5,951.00 17%Real Estate 90.75 70%Food Beverage & Tobacco 356.50 3%Capital Goods 140.70 108%Pharmaceuticals, Biotechnology 738.80 17%Energy 345.95 2%Materials 108.45 65%Banks 608.20 20%Capital Goods 218.10 27%Materials 421.50 6%Automobiles & Components 102.15 34%Banks 142.50 12%Capital Goods 60.85 41%Materials 315.55 50%Utilities 303.55 43%Materials 68.85 24%Energy 197.00 32%Media 46.20 4%Pharmaceuticals, Biotechnology 293.05 14%Banks 43.80 19%Software & Services 1,971.35 40%

Household & Personal Products 824.35 0%Capital Goods 51.00 24%Transportation 1,187.35 9%Software & Services 314.50 3%Materials 286.10 28%Banks 546.80 28%Diversified Financials 5,928.00 22%Capital Goods 264.05 24%Capital Goods 647.90 17%Household & Personal Products 97.00 10%Food Beverage & Tobacco 25.50 1155%#N/A N/A 44.50 30%Materials 41.40 59%Media 66.35 76%Materials 155.00 41%Consumer Durables & Apparel 70.15 57%Banks 96.20 45%Banks 42.35 60%Banks 241.55 46%Banks 101.60 50%Materials 69.75 45%Media 61.80 12%Pharmaceuticals, Biotechnology 95.00 18%Pharmaceuticals, Biotechnology 621.15 22%Real Estate 219.95 28%Pharmaceuticals, Biotechnology 1,493.75 15%Transportation 325.50 32%Automobiles & Components 1,095.00 11%Commercial & Professional Serv 621.25 28%Diversified Financials 37.10 31%Consumer Services 410.10 50%Capital Goods 1,159.30 31%Materials 209.40 38%Consumer Services 81.05 14%Pharmaceuticals, Biotechnology 357.00 18%Capital Goods 65.60 47%Capital Goods 30.15 58%Capital Goods 90.55 0%Household & Personal Products 361.55 29%Capital Goods 58.95 18%Capital Goods 306.90 13%Media 220.05 24%Capital Goods 190.25 16%Capital Goods 134.15 35%Materials 403.85 42%Energy 118.50 25%Energy 88.25 55%Materials 43.00 51%Capital Goods 135.50 62%Materials 71.55 64%Consumer Services 543.75 31%Automobiles & Components 130.85 23%Capital Goods 774.95 32%Banks 372.85 24%Software & Services 754.05 54%

Capital Goods 46.00 78%Materials 83.40 -8%Software & Services 16.15 85%Health Care Equipment & Servic 149.10 13%Automobiles & Components 43.30 43%Utilities 447.90 18%Capital Goods 105.75 43%Capital Goods 16.85 54%Real Estate 148.55 95%Consumer Durables & Apparel 93.00 69%Energy 111.15 18%Transportation 108.00 17%Capital Goods 217.35 76%#N/A N/A 7.21 1745%Capital Goods 170.40 64%Technology Hardware & Equipmen 15.50 74%Software & Services 59.35 60%Banks 94.75 59%Consumer Durables & Apparel 211.45 61%Food Beverage & Tobacco 2,060.65 18%Pharmaceuticals, Biotechnology 2,039.80 9%Pharmaceuticals, Biotechnology 271.40 34%Utilities 37.05 47%Materials 167.85 50%Household & Personal Products 359.90 19%Capital Goods 84.05 28%Materials 2,435.05 7%Energy 255.50 31%Energy 235.75 60%Capital Goods 84.05 34%Capital Goods 189.00 37%Capital Goods 213.00 10%Banks 324.50 20%Telecommunication Services 36.70 -2%Capital Goods 132.65 51%Utilities 400.50 3%Utilities 86.00 43%Materials 129.65 23%Materials 89.20 60%Materials 49.55 114%Materials 355.25 37%Utilities 98.05 27%Utilities 24.45 91%Food Beverage & Tobacco 80.95 -10%Capital Goods 349.60 34%Software & Services 100.25 18%Software & Services 450.30 24%Banks 2,149.30 12%Capital Goods 213.85 16%Automobiles & Components 1,473.50 14%Software & Services 54.80 2%Consumer Durables & Apparel 32.40 5%Materials 196.80 28%Software & Services 340.00 53%Capital Goods 34.45 61%

Capital Goods 77.40 39%Materials 210.00 55%Energy 332.25 20%Household & Personal Products 269.00 2%Materials 126.15 10%Technology Hardware & Equipmen 2,148.00 23%Consumer Services 36.60 -2%Real Estate 155.50 39%Banks 620.30 16%Materials 133.00 26%Media 131.35 28%Materials 352.30 85%Media 98.00 25%Banks 1,002.55 26%Diversified Financials 1,035.00 32%Software & Services 116.15 33%Banks 132.95 37%Telecommunication Services 60.65 22%Diversified Financials 51.85 51%Materials 91.65 17%Diversified Financials 68.90 32%Diversified Financials 143.75 67%Real Estate 107.55 71%Banks 211.40 44%Consumer Services 77.25 40%Energy 303.50 27%Banks 141.40 12%Capital Goods 146.30 67%Pharmaceuticals, Biotechnology 423.00 27%Utilities 293.90 27%Banks 243.25 22%Software & Services 605.00 8%Software & Services 2,941.10 24%Software & Services 160.40 19%Diversified Financials 143.50 27%Banks 297.05 44%Media 49.00 37%Pharmaceuticals, Biotechnology 289.90 24%Capital Goods 180.50 46%Materials 48.25 70%Food Beverage & Tobacco 167.95 17%Capital Goods 71.85 72%Pharmaceuticals, Biotechnology 133.50 25%Capital Goods 134.00 54%Media 113.90 32%Materials 167.00 83%Capital Goods 183.10 35%Capital Goods 82.30 54%Utilities 38.55 74%Banks 767.00 26%Food Beverage & Tobacco 163.60 25%Consumer Durables & Apparel 164.45 53%Transportation 453.50 64%Materials 426.90 56%Materials 186.10 39%

Materials 649.80 11%Materials 133.00 27%Materials 44.60 52%Materials 46.15 82%Automobiles & Components 90.80 53%#N/A N/A 257.30 73%Materials 894.75 28%Pharmaceuticals, Biotechnology 160.45 72%Household & Personal Products 196.45 43%Capital Goods 77.80 83%Capital Goods 68.35 46%Capital Goods 91.85 80%Capital Goods 111.20 66%Consumer Services 81.80 19%Materials 789.60 11%Banks 99.35 46%Banks 390.45 27%Food Beverage & Tobacco 13.05 191%Food Beverage & Tobacco 318.15 28%Capital Goods 73.25 60%Capital Goods 20.55 138%Materials 189.55 31%Consumer Durables & Apparel 491.10 10%Transportation 39.60 6%Materials 294.60 239%Capital Goods 112.95 90%Capital Goods 102.00 59%Diversified Financials 421.00 9%Software & Services 162.70 21%Consumer Durables & Apparel 166.50 59%Food Beverage & Tobacco 27.75 24%Food Beverage & Tobacco 31.05 77%Capital Goods 485.95 3%Utilities 102.00 54%Capital Goods 239.85 58%Capital Goods 2,087.65 31%Capital Goods 35.85 67%Capital Goods 1,516.20 31%Banks 193.50 9%Pharmaceuticals, Biotechnology 392.35 25%Capital Goods 87.30 89%Materials 94.00 10%Diversified Financials 58.70 66%Telecommunication Services 44.05 1%Materials 326.00 37%Diversified Financials 700.05 16%Automobiles & Components 631.10 23%Automobiles & Components 59.95 129%Real Estate 355.00 33%Capital Goods 59.75 72%Diversified Financials 117.75 30%Materials 108.65 39%Energy 59.30 7%Capital Goods 102.45 225%Household & Personal Products 133.60 0%

Automobiles & Components 1,156.20 23%Software & Services 120.75 33%Capital Goods 144.05 37%Food Beverage & Tobacco 264.65 -1%Capital Goods 218.00 26%Transportation 36.15 57%Pharmaceuticals, Biotechnology 573.00 34%Software & Services 360.10 36%Consumer Durables & Apparel 19.50 -13%Materials 525.00 17%Materials 1,580.00 36%Automobiles & Components 207.40 3%Diversified Financials 120.75 42%Software & Services 384.45 26%Automobiles & Components 6,611.35 11%Transportation 133.95 23%Capital Goods 96.15 53%Materials 25.90 39%Materials 108.45 -24%Capital Goods 223.60 62%Media 54.75 36%Technology Hardware & Equipmen 69.00 384%Capital Goods 460.00 98%Food Beverage & Tobacco 3,532.25 3%Media 141.70 38%Utilities 99.45 38%Software & Services 47.55 55%Software & Services 175.00 61%Consumer Durables & Apparel 291.50 65%Capital Goods 78.30 -14%Materials 281.35 -8%Capital Goods 26.25 -1%Pharmaceuticals, Biotechnology 616.85 15%Capital Goods 43.30 54%Utilities 174.25 19%Software & Services 76.30 98%Energy 270.15 29%Real Estate 130.70 -1%Software & Services 250.75 37%Health Care Equipment & Servic 262.65 24%Software & Services 1,984.95 28%Real Estate 47.95 122%Pharmaceuticals, Biotechnology 280.70 33%Materials 46.60 60%Banks 367.20 21%Consumer Durables & Apparel 1,440.00 18%Pharmaceuticals, Biotechnology 178.30 39%Retailing 239.15 54%Pharmaceuticals, Biotechnology 142.00 258%Real Estate 37.70 20%Capital Goods 134.80 66%#N/A N/A 70.00 51%Software & Services 455.75 6%Real Estate 60.10 18%Energy 118.00 16%

Pharmaceuticals, Biotechnology 1,166.00 10%Materials 135.00 69%Real Estate 177.55 47%#N/A N/A 8.50 1253%Materials 137.00 22%Materials 102.05 78%Pharmaceuticals, Biotechnology 465.25 7%Capital Goods 79.10 107%Software & Services 177.20 28%Materials 190.55 172%Diversified Financials 230.45 54%Utilities 97.95 18%Capital Goods 70.60 22%Materials 73.80 136%Capital Goods 53.45 37%Materials 51.15 -18%Household & Personal Products 1,767.00 -2%Consumer Durables & Apparel 38.85 136%Capital Goods 68.30 88%Utilities 81.25 64%Capital Goods 61.65 17%Banks 1,089.05 26%Real Estate 103.50 28%Media 97.25 71%Food Beverage & Tobacco 132.00 34%Materials 143.25 57%Materials 53.00 51%Materials 1,264.50 30%Materials 103.90 92%Pharmaceuticals, Biotechnology 468.85 11%Automobiles & Components 240.00 74%Materials 76.30 -21%Materials 126.05 32%Consumer Durables & Apparel 290.05 67%Technology Hardware & Equipmen 73.00 36%Food Beverage & Tobacco 28.20 22%Diversified Financials 576.15 20%Telecommunication Services 104.60 15%Energy 993.00 15%Utilities 627.70 57%Utilities 121.35 5%Diversified Financials 489.00 7%Automobiles & Components 16.75 34%Software & Services 135.00 37%Consumer Services 63.50 10%Consumer Durables & Apparel 141.05 64%Food Beverage & Tobacco 100.00 3%Diversified Financials 223.25 43%Consumer Durables & Apparel 51.00 75%Materials 37.80 30%Capital Goods 106.70 51%#N/A N/A 65.00 355%Consumer Durables & Apparel 43.50 22%Capital Goods 107.00 62%Materials 189.30 55%

Software & Services 151.00 19%Software & Services 67.20 5%Energy 330.05 40%Materials 259.75 25%Automobiles & Components 114.70 59%Pharmaceuticals, Biotechnology 50.75 866%Transportation 106.15 20%Consumer Durables & Apparel 43.30 41%Energy 266.95 59%Retailing 334.80 -5%Materials 1,880.00 6%Food Beverage & Tobacco 68.70 51%Consumer Durables & Apparel 76.70 103%Diversified Financials 500.00 60%Capital Goods 147.90 10%Diversified Financials 736.80 19%Capital Goods 869.15 -12%Capital Goods 325.00 27%Capital Goods 143.45 58%Capital Goods 566.00 8%Capital Goods 337.50 26%Real Estate 255.95 49%Automobiles & Components 14.55 37%Banks 20.55 33%Transportation 38.60 78%Consumer Durables & Apparel 310.00 47%Banks 2,590.25 19%Materials 156.55 19%Automobiles & Components 231.00 66%Materials 158.35 33%Technology Hardware & Equipmen 46.85 79%Pharmaceuticals, Biotechnology 336.30 42%Automobiles & Components 31.85 40%Pharmaceuticals, Biotechnology 434.70 8%Media 437.00 24%Automobiles & Components 145.00 68%Diversified Financials 471.00 41%Automobiles & Components 47.50 62%Capital Goods 105.35 20%Real Estate 304.45 97%Automobiles & Components 19.00 50%Materials 142.50 48%Capital Goods 193.25 95%Household & Personal Products 97.10 39%Capital Goods 45.35 22%Capital Goods 416.25 14%Consumer Durables & Apparel 1,263.20 18%Banks 113.25 16%Consumer Services 95.45 61%Software & Services 34.00 62%Materials 122.70 63%Materials 321.95 19%Telecommunication Services 217.05 5%Software & Services 1,082.75 18%Software & Services 237.55 49%

Food Beverage & Tobacco 97.60 13%Capital Goods 1,117.45 32%Utilities 1,222.55 14%Materials 318.45 54%Materials 597.15 25%Telecommunication Services 14.80 -1%Software & Services 704.85 6%Capital Goods 572.50 34%Capital Goods 499.10 57%Food Beverage & Tobacco 54.40 84%Materials 57.20 23%Capital Goods 312.65 74%Consumer Durables & Apparel 3,461.95 16%Pharmaceuticals, Biotechnology 519.80 32%Utilities 246.85 19%Capital Goods 243.50 67%Transportation 97.00 38%Retailing 879.00 5%Capital Goods 459.00 29%Food Beverage & Tobacco 96.55 41%Consumer Durables & Apparel 30.40 38%Consumer Durables & Apparel 1,993.70 -14%Automobiles & Components 128.80 32%Telecommunication Services 139.20 64%Media 61.20 41%Automobiles & Components 57.35 35%Capital Goods 80.20 218%Banks 99.75 16%Materials 1,034.30 -3%Pharmaceuticals, Biotechnology 180.30 39%Banks 332.80 18%Real Estate 37.05 61%Food Beverage & Tobacco 470.60 -16%Materials 136.00 46%Food Beverage & Tobacco 1,024.10 32%Capital Goods 55.10 90%Materials 54.20 44%Food Beverage & Tobacco 89.25 47%Media 530.70 20%Consumer Durables & Apparel 646.80 1%Consumer Durables & Apparel 251.55 69%Transportation 26.50 -9%Capital Goods 158.80 40%Banks 72.30 32%Pharmaceuticals, Biotechnology 21.15 103%Real Estate 14.20 146%Materials 45.00 21%Materials 98.85 40%Capital Goods 550.00 15%Capital Goods 157.65 38%Food Beverage & Tobacco 642.80 27%Capital Goods 430.00 47%Automobiles & Components 922.60 43%Materials 201.15 17%Materials 77.00 62%

Consumer Durables & Apparel 245.25 8%Software & Services 439.90 12%Media 7.80 105%Pharmaceuticals, Biotechnology 817.90 11%Banks 274.25 32%Media 118.90 15%Media 10.80 30%Software & Services 151.15 79%Materials 582.00 54%Food Beverage & Tobacco 577.00 21%

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Expert Opinion Daily Weekly Monthly Yes/No

Undervalued -55% -95% -75% NoUndervalued -15% -85% -75% NoOvervalued 25% -40% -25% No

Undervalued -35% -15% -25% NoUndervalued -60% -70% -50% NoOvervalued 10% 30% 75% No

Undervalued -85% -80% 5% NoUndervalued -5% -80% -70% NoUndervalued -80% -65% -45% NoUndervalued 25% -5% 45% NoUndervalued -15% -45% -20% NoUndervalued -53% -75% -20% NoOvervalued -75% -90% -80% No

Undervalued 5% 35% 50% YesUndervalued -65% -60% -30% NoUndervalued -45% -65% 45% NoUndervalued -35% -35% 80% NoUndervalued -25% 40% 40% NoOvervalued 55% 15% 15% No

Undervalued 5% 10% 50% YesUndervalued 70% -30% -20% NoUndervalued -55% -75% -90% NoUndervalued -80% -50% -50% NoUndervalued -55% -50% -20% NoUndervalued -5% -40% 55% NoOvervalued 15% 5% 65% No

Undervalued 45% -95% -55% NoUndervalued -90% -90% -60% NoUndervalued -10% 0% 60% NoUndervalued -90% -75% -60% NoUndervalued -35% -70% -30% NoUndervalued 5% 40% 65% YesUndervalued 53% -10% 30% NoUndervalued -80% -70% -5% NoUndervalued -90% 40% 0% NoOvervalued -35% 0% -5% No

Undervalued -75% -55% 25% NoUndervalued -30% -50% 20% NoUndervalued -5% 0% 70% NoUndervalued -65% -35% -65% NoUndervalued -55% -10% 50% NoOvervalued 83% 90% 65% No

Undervalued -30% -20% 45% NoUndervalued -10% -30% 10% NoOvervalued 65% 45% 65% No

Undervalued 20% -5% 65% No

Fundamental Analysis (2) Technical Analysis (3) Alignment (4)

Undervalued -90% -90% -60% NoUndervalued 20% 15% 73% YesUndervalued 18% -25% 45% NoUndervalued 5% 25% 50% YesUndervalued 50% 73% 8% YesUndervalued -80% -85% -70% NoUndervalued -60% -5% 45% NoUndervalued -85% -85% -90% NoUndervalued 10% 5% 35% YesUndervalued -5% -35% -40% NoUndervalued -15% -85% -40% NoUndervalued -60% -75% 25% NoUndervalued 45% 55% 65% YesUndervalued 5% 35% 65% YesUndervalued -90% -15% 55% NoUndervalued 15% 28% 55% YesUndervalued 20% -30% 65% NoUndervalued -15% -80% -45% NoUndervalued -45% -15% 50% NoUndervalued -75% -75% -10% NoUndervalued 5% -55% -30% NoUndervalued -68% -50% 60% NoUndervalued -30% -15% 50% NoUndervalued -90% -75% 50% NoUndervalued -85% -55% 50% NoUndervalued -40% -90% -60% NoUndervalued -85% -40% -5% NoOvervalued 40% 40% 40% No

Undervalued -100% -45% -45% NoUndervalued -25% -20% 55% NoUndervalued -90% -55% 55% NoUndervalued -70% -40% 50% NoUndervalued -40% -65% -60% NoUndervalued 80% 15% 30% YesUndervalued -80% 20% 85% NoUndervalued -88% -80% -40% NoUndervalued -15% -70% 65% NoUndervalued -100% -85% -35% NoUndervalued -57% 60% 70% NoUndervalued 65% 80% 78% YesUndervalued -40% -40% 15% NoUndervalued 20% 40% 55% YesUndervalued -85% 45% 75% NoUndervalued 33% -20% 65% NoUndervalued -25% -70% -55% NoUndervalued 5% -30% 30% NoUndervalued 45% -10% 65% NoUndervalued -40% -75% -45% NoUndervalued -20% -80% -50% NoUndervalued -30% 0% 60% NoUndervalued -70% -60% -55% NoUndervalued -33% -100% -50% NoUndervalued -80% -50% 55% NoUndervalued 25% 40% 65% YesUndervalued -55% 50% 40% No

Undervalued 20% 45% 75% YesUndervalued -45% -50% -50% NoUndervalued 15% -35% 70% NoUndervalued 80% 75% 40% YesUndervalued 40% 35% 80% YesUndervalued -50% -10% 50% NoUndervalued -10% 43% 75% NoUndervalued -15% -25% 50% NoUndervalued -30% 15% 50% NoUndervalued 35% 5% 90% YesUndervalued -80% -75% -100% NoUndervalued -40% -65% 50% NoUndervalued -65% -90% -60% NoUndervalued -70% -80% -60% NoUndervalued -60% -5% 55% NoUndervalued 0% 40% 35% NoUndervalued -30% -25% 65% NoUndervalued -55% -15% -60% NoUndervalued -80% -20% 50% NoUndervalued -65% -75% 65% NoUndervalued -23% -25% 80% NoUndervalued 25% 20% 35% YesUndervalued -75% -95% -100% NoUndervalued -30% -55% 30% NoUndervalued -50% -80% -65% NoUndervalued -60% 50% 50% NoUndervalued -85% -95% -70% NoUndervalued -55% 25% 10% NoUndervalued -35% 15% 75% NoUndervalued -70% -65% -40% NoUndervalued -75% -80% -40% NoUndervalued 35% -15% 50% NoUndervalued -35% 15% 50% NoUndervalued -50% -85% -50% NoUndervalued -65% 0% 45% NoUndervalued -35% -80% -45% NoUndervalued -70% -80% -45% NoUndervalued 55% 75% 75% YesUndervalued -75% 5% 65% NoUndervalued -65% -73% -60% NoUndervalued 15% -70% 30% NoUndervalued 55% -60% -25% NoUndervalued -80% -40% 55% NoUndervalued -10% -55% 20% NoUndervalued -75% -60% -5% NoUndervalued 20% -65% -50% NoUndervalued -30% -50% -50% NoUndervalued -60% -35% -10% NoUndervalued -50% -75% -5% NoUndervalued -40% -80% -85% NoUndervalued -30% 5% 0% NoUndervalued -40% -5% 65% NoUndervalued -55% 28% 75% NoUndervalued 10% 25% 50% YesUndervalued -15% -65% -60% No

Undervalued -45% -60% -45% NoOvervalued -40% -5% 40% No

Undervalued -65% -90% -65% NoUndervalued 55% 25% 50% YesUndervalued -10% -55% 30% NoUndervalued -55% 10% 65% NoUndervalued -90% -90% -55% NoUndervalued -95% -75% -25% NoUndervalued -55% -50% -45% NoUndervalued -45% 10% 50% NoUndervalued -70% -85% -45% NoUndervalued 10% -65% 0% NoUndervalued -35% -65% -50% NoUndervalued 0% 0% -45% NoUndervalued -10% 15% 50% NoUndervalued -90% -65% -55% NoUndervalued -90% -35% -5% NoUndervalued -85% -55% 50% NoUndervalued -15% 20% -10% NoUndervalued -60% 30% 90% NoUndervalued -75% 65% 75% NoUndervalued -75% -30% -35% NoUndervalued -30% -75% -55% NoUndervalued -35% -75% -45% NoUndervalued -25% 0% 70% NoUndervalued -45% -45% 30% NoUndervalued 65% 90% 65% YesUndervalued -90% -55% -35% NoUndervalued -55% -90% -75% NoUndervalued -65% 15% 40% NoUndervalued -10% -55% 15% NoUndervalued -55% 45% 65% NoUndervalued -65% 10% 80% NoOvervalued -18% -75% -50% No

Undervalued -40% -65% -15% NoUndervalued 60% 35% 70% YesUndervalued -70% -75% -15% NoUndervalued 45% -50% -15% NoUndervalued -100% -80% -23% NoUndervalued -10% -80% -50% NoUndervalued 30% 55% 80% YesUndervalued 0% -50% 55% NoUndervalued -70% -90% -50% NoOvervalued 45% -50% -35% No

Undervalued 15% -5% 40% NoUndervalued -45% -90% -70% NoUndervalued -35% 65% 65% NoUndervalued -5% 20% 65% NoUndervalued 5% -80% -50% NoUndervalued -55% -65% 60% NoUndervalued 25% 45% 0% NoUndervalued -100% -80% -50% NoUndervalued -80% 55% 55% NoUndervalued 5% -80% -45% NoUndervalued -55% -85% -60% No

Undervalued -80% -75% 15% NoUndervalued -50% 8% 55% NoUndervalued -55% -50% 35% NoUndervalued -75% 10% 90% NoUndervalued -10% 40% 80% NoUndervalued -50% -50% 30% NoOvervalued -75% -65% -55% No

Undervalued -5% -80% -65% NoUndervalued -45% -10% 75% NoUndervalued 35% 50% 65% YesUndervalued -55% -65% -5% NoUndervalued -55% -75% 10% NoUndervalued 45% -60% -30% NoUndervalued -25% 10% 35% NoUndervalued -50% -20% 55% NoUndervalued -65% -75% -55% NoUndervalued -28% -20% 50% NoUndervalued -80% -35% -45% NoUndervalued -15% -40% -20% NoUndervalued -10% -80% -85% NoUndervalued -60% -80% -60% NoUndervalued -40% -25% -40% NoUndervalued -50% -80% -80% NoUndervalued -25% -25% 30% NoUndervalued -90% -70% -40% NoUndervalued -90% -50% 45% NoUndervalued 35% 50% 5% YesUndervalued -75% -100% -90% NoUndervalued -30% -5% 40% NoUndervalued -65% -15% 60% NoUndervalued 20% 10% 50% YesUndervalued 35% 40% 70% YesUndervalued -70% 55% 80% NoUndervalued -65% -35% 35% NoUndervalued -5% -45% 45% NoUndervalued -80% -50% 30% NoUndervalued -25% -75% -60% NoUndervalued -20% 0% 55% NoUndervalued -20% -75% 20% NoUndervalued -65% -50% -35% NoUndervalued 15% 93% 90% YesUndervalued -30% -90% -60% NoUndervalued 30% 45% 50% YesUndervalued -90% -55% 23% NoUndervalued -35% -50% 50% NoUndervalued -70% -55% -50% NoUndervalued -35% -50% 50% NoUndervalued -30% -80% -60% NoUndervalued -75% -90% -60% NoUndervalued 15% 5% 30% YesUndervalued 5% 5% 50% YesUndervalued -40% 25% 65% NoUndervalued -25% -45% -35% NoUndervalued -25% 0% 65% NoUndervalued -50% 0% 50% No

Undervalued -45% -70% 65% NoUndervalued 0% -45% -15% NoUndervalued -40% -95% -35% NoUndervalued -80% -50% 0% NoUndervalued -25% -80% -25% NoUndervalued -95% -60% 57% NoUndervalued -20% -55% 30% NoUndervalued -75% -75% -15% NoUndervalued -68% 0% 50% NoUndervalued -80% -100% -55% NoUndervalued -5% 15% 40% NoUndervalued -75% -90% -90% NoUndervalued -80% -85% -45% NoUndervalued -35% -45% -60% NoUndervalued -5% -5% 55% NoUndervalued -95% -70% -50% NoUndervalued -55% 10% 80% NoUndervalued -85% -60% -15% NoUndervalued 10% 30% 40% YesUndervalued -95% -100% -40% NoUndervalued -100% -80% -60% NoUndervalued -55% -95% -75% NoUndervalued -40% 40% 65% NoUndervalued -60% -65% -60% NoUndervalued -70% -100% 20% NoUndervalued -100% -90% -75% NoUndervalued -75% -55% 5% NoUndervalued 45% -35% 5% NoUndervalued 65% 75% 65% YesUndervalued -10% -10% 50% NoUndervalued -30% -20% 25% NoUndervalued -100% -90% -90% NoUndervalued 0% -45% 20% NoUndervalued -100% -90% -73% NoUndervalued -80% -25% 50% NoUndervalued -75% -35% -15% NoUndervalued -45% -75% -35% NoUndervalued -60% -40% 45% NoUndervalued 45% -20% 65% NoUndervalued -55% 23% 70% NoUndervalued -65% -65% -50% NoUndervalued -25% -80% -55% NoUndervalued -80% -20% 50% NoUndervalued 0% -90% -100% NoUndervalued -85% -60% -20% NoUndervalued -5% 40% 85% NoUndervalued -85% 30% 65% NoUndervalued -80% -100% -75% NoUndervalued 15% -55% -45% NoUndervalued -40% -70% -60% NoUndervalued -15% -10% 55% NoUndervalued -30% -75% -35% NoUndervalued -63% -80% -45% NoUndervalued -80% -80% -55% NoOvervalued 80% 45% 80% No

Undervalued -73% -55% 50% NoUndervalued -100% -90% -85% NoUndervalued -75% -80% -30% NoOvervalued 90% 30% 50% No

Undervalued 0% -45% 30% NoUndervalued -70% -85% -60% NoUndervalued -75% -65% 40% NoUndervalued -80% -100% -45% NoOvervalued -40% -35% -35% No

Undervalued -55% 25% 70% NoUndervalued -55% -75% -15% NoUndervalued 60% 63% 70% YesUndervalued -85% -70% -50% NoUndervalued -65% -65% 20% NoUndervalued 25% -60% 30% NoUndervalued -10% -15% 15% NoUndervalued -75% -90% -60% NoUndervalued -55% -80% -45% NoOvervalued 55% 70% 88% No

Undervalued -90% -70% 35% NoUndervalued -40% 0% 50% NoUndervalued -80% -75% -55% NoUndervalued -35% -55% -35% NoUndervalued 0% 75% 95% NoUndervalued -30% 50% -15% NoUndervalued -40% -75% -20% NoUndervalued -50% -55% -40% NoUndervalued -83% -5% -5% NoUndervalued -50% -30% 45% NoOvervalued 70% 35% -15% NoOvervalued 90% -25% 0% NoOvervalued -65% -90% -50% No

Undervalued -50% 0% 55% NoUndervalued -60% -15% 40% NoUndervalued -50% -80% -20% NoUndervalued -80% -75% -50% NoUndervalued -60% -50% 50% NoOvervalued -85% 10% 0% No

Undervalued 40% -90% -90% NoUndervalued 35% -35% 55% NoUndervalued -70% -30% 40% NoUndervalued -80% -90% -60% NoUndervalued 20% 50% 55% YesUndervalued -70% -50% 40% NoUndervalued 25% -15% 30% NoUndervalued 25% 85% 90% YesUndervalued -50% -55% -45% NoUndervalued -75% -65% -55% NoUndervalued -85% -50% 35% NoUndervalued -30% -65% -60% NoUndervalued -95% -100% -90% NoUndervalued -33% -75% 10% NoUndervalued -35% -30% 30% NoUndervalued 35% -30% -40% NoUndervalued -40% 50% 65% No

Undervalued -50% 65% 85% NoUndervalued 0% -75% -25% NoUndervalued -73% -60% -35% NoUndervalued -95% 15% 20% NoUndervalued -20% 0% 80% NoUndervalued 60% -40% -30% NoUndervalued 25% -30% 45% NoUndervalued 55% -15% 30% NoUndervalued 0% 60% 60% NoUndervalued -70% -35% 45% NoUndervalued -90% -55% 40% NoUndervalued 30% -70% 5% NoUndervalued 0% -65% -55% NoUndervalued -75% -85% -60% NoUndervalued -60% -65% 30% NoOvervalued 15% -20% 40% NoOvervalued 35% -25% 30% No

Undervalued -60% -65% -60% NoUndervalued -60% -95% -90% NoUndervalued -80% -70% -40% NoUndervalued -90% -80% -100% NoUndervalued -15% -25% 65% NoUndervalued -35% -10% -25% NoUndervalued -80% -75% -55% NoUndervalued -70% -45% 30% NoUndervalued -80% -75% -15% NoUndervalued -57% 30% 90% NoUndervalued -35% -15% 80% NoUndervalued -35% -55% -45% NoUndervalued -55% -5% 38% NoUndervalued -90% 10% 60% NoOvervalued -70% -75% 20% No

Undervalued 35% 0% -25% NoUndervalued -5% -50% 0% NoUndervalued -25% -10% 40% NoUndervalued 55% 15% -35% NoUndervalued 35% -80% -65% NoUndervalued -5% -90% -100% NoUndervalued 40% -55% 30% NoUndervalued -40% -80% -55% NoUndervalued -30% -65% -65% NoUndervalued 10% 40% 45% YesUndervalued -85% -75% -45% NoUndervalued -50% -75% -35% NoUndervalued -15% -80% -55% NoUndervalued -93% 30% 20% NoUndervalued -70% -60% 35% NoUndervalued -95% -60% 30% NoUndervalued -100% -60% -15% NoUndervalued -80% -75% 30% NoUndervalued -5% -40% 40% NoUndervalued 0% 0% 0% NoUndervalued 15% 25% -5% NoUndervalued -100% -90% -45% NoUndervalued -55% -45% -50% No

Undervalued -60% -65% -45% NoUndervalued 50% -65% -80% NoUndervalued -40% -25% 65% NoUndervalued -70% -90% 35% NoUndervalued -50% -5% 70% NoUndervalued -70% -50% -50% NoUndervalued -45% -65% -30% NoUndervalued -90% -15% 50% NoUndervalued -20% -60% -35% NoOvervalued -5% 10% 60% No

Undervalued 50% -45% 55% NoUndervalued -75% -15% 50% NoUndervalued -78% -80% -20% NoUndervalued -65% -25% 45% NoUndervalued -85% -65% -40% NoUndervalued 5% 70% 85% YesOvervalued 80% 73% 45% No

Undervalued -55% -100% -35% NoUndervalued -60% -50% 10% NoUndervalued 75% 35% 75% YesUndervalued -75% 40% 45% NoUndervalued -20% -40% -45% NoUndervalued -83% -75% -45% NoUndervalued -8% 10% 40% NoUndervalued -60% -55% -25% NoUndervalued -25% 15% 40% NoUndervalued -25% 10% 65% NoUndervalued -30% -75% 25% NoUndervalued -65% 0% 50% NoUndervalued -50% -75% 20% NoUndervalued -60% -75% 20% NoUndervalued -65% -30% 30% NoUndervalued -100% -85% -50% NoUndervalued 5% 45% 90% YesUndervalued -10% -40% 45% NoUndervalued -75% -35% -40% NoUndervalued -78% -15% 40% NoUndervalued -53% -65% -5% NoUndervalued 5% -65% -75% NoUndervalued -100% -65% 45% NoUndervalued -57% -5% 50% NoUndervalued -50% 50% 65% NoUndervalued -50% -60% 40% NoUndervalued -50% 25% 65% NoUndervalued -55% -85% -90% NoUndervalued -85% 15% 40% NoUndervalued 75% 90% 100% YesUndervalued 15% 10% 50% YesUndervalued -80% -75% -50% NoUndervalued 80% 25% -25% NoUndervalued -20% -5% 50% NoUndervalued -50% -50% 48% NoUndervalued -25% -95% -85% NoUndervalued -55% 75% 75% NoUndervalued -45% -55% 25% No

Undervalued 8% -50% 30% NoUndervalued -20% 30% 70% NoUndervalued -20% -70% 55% NoUndervalued -55% -45% 45% NoUndervalued -60% 10% 45% NoOvervalued -45% -90% -85% No

Undervalued 40% -35% -75% NoUndervalued -90% -60% 30% NoUndervalued -90% -15% 45% NoUndervalued -70% -25% 25% NoUndervalued 50% 60% -20% NoUndervalued -80% -30% -23% NoUndervalued 18% 40% 80% YesUndervalued -55% -5% 55% NoUndervalued 8% -70% 30% NoUndervalued -65% -80% -50% NoUndervalued -45% -55% 5% NoUndervalued 40% -35% 55% NoUndervalued -45% -65% -15% NoUndervalued -10% -60% -20% NoUndervalued -40% -5% 50% NoOvervalued 80% 90% 80% No

Undervalued -50% 5% 50% NoUndervalued -65% -100% 10% NoUndervalued -25% -95% -85% NoUndervalued 15% -25% 35% NoUndervalued -75% -80% -15% NoUndervalued -55% 10% 50% NoOvervalued 13% 28% 60% No

Undervalued -70% 0% 60% NoUndervalued 5% 0% 50% NoUndervalued -40% -80% -70% NoOvervalued 45% 60% 65% No

Undervalued -55% -60% 0% NoUndervalued -60% -55% -10% NoUndervalued -90% -75% -60% NoUndervalued -60% -75% -45% NoUndervalued -75% 45% -5% NoUndervalued 55% 20% -5% NoUndervalued 55% 10% 55% YesUndervalued -70% -35% 40% NoOvervalued -75% -90% -75% No

Undervalued -15% 25% 65% NoUndervalued -85% 5% 50% NoUndervalued -90% -55% -60% NoUndervalued -70% -90% -100% NoUndervalued 65% 60% 40% YesUndervalued -75% -75% -10% NoUndervalued -80% -85% -40% NoUndervalued -55% -70% 30% NoUndervalued 15% 80% 75% YesUndervalued -85% -40% 60% NoUndervalued -45% -25% 57% NoUndervalued 75% -50% -35% NoUndervalued 15% -50% 25% No

Undervalued 25% -25% 65% NoUndervalued -55% 55% 55% NoUndervalued -75% -85% -90% NoUndervalued 5% 45% 40% YesUndervalued 25% -15% 30% NoUndervalued -35% -70% 0% NoUndervalued -70% -80% -90% NoUndervalued -60% -25% 50% NoUndervalued -80% -40% 45% NoUndervalued 0% 45% 75% No

Disclaimer

Data is sourced from but not limited to Bloomberg, Thomson Reuters and relevant stock exchanges. APF Trading does not verify any data and disclaims any obligation to do so.

APF Trading, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither APF Trading nor any of our information providers will be liable for any damages relating to your use of the information provided herein. As used here, "business partners" does not refer to an agency, partnership, or joint venture relationship between APF Trading and any such parties.

You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. All data and information is provided "as is" for personal informational purposes only, and is not intended for trading purposes or advice. Please consult your broker or financial representative to verify pricing before executing any trade.

Either APF Trading or its third party data or content providers have exclusive proprietary rights in the data and information provided.

Disclaimer

Data is sourced from but not limited to Bloomberg, Thomson Reuters and relevant stock exchanges. APF Trading does not verify any data and disclaims any obligation to do so.

APF Trading, its data or content providers, the financial exchanges and each of their affiliates and business partners (A) expressly disclaim the accuracy, adequacy, or completeness of any data and (B) shall not be liable for any errors, omissions or other defects in, delays or interruptions in such data, or for any actions taken in reliance thereon. Neither APF Trading nor any of our information providers will be liable for any damages relating to your use of the information provided herein. As used here, "business partners" does not refer to an agency, partnership, or joint venture relationship between APF Trading and any such parties.

You agree not to copy, modify, reformat, download, store, reproduce, reprocess, transmit or redistribute any data or information found herein or use any such data or information in a commercial enterprise without obtaining prior written consent. All data and information is provided "as is" for personal informational purposes only, and is not intended for trading purposes or advice. Please consult your broker or financial representative to verify pricing before executing any trade.

Either APF Trading or its third party data or content providers have exclusive proprietary rights in the data and information provided.