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IBD Live QA Summary, Stock Lists For Thursday, April 22, 2021

“Til tomorrow” is now today – to the entire IBD International Team Live – a thriving Thursday morning !! (alive in Mpls) Thriving Thursday — I dig it! Mornin, Scott! bitter sweet symphony…. Ed’s great at picking songs. Yes, perhaps the market is more sweet than bitter for now? Ticker of the day VRVE Mark, you called it again! Day lol Love the ticker of the day for the songs 🙂 Margin Debt on IBD Psychological Indicators just shot way past 55%. Can you discuss? Hi Curt! Hope you are well. Given the big drop in the market in Feb/March 2020, we think the low base in which these new year over year comps has a big impact. We think the increase should moderate, but still need to watch the market closely. June 2007 peak in the graph is important history — it marked an upcoming major stock market top, but the Nasdaq didn’t actually peak until October that year. Cheers, Hat Man Dave — https://research.investors.com/psychological-market-indicators/chart?type=margindebt Good morning. Why doesn’t LIVE discuss FFTY as a more correlated index to growth stocks? NAS does not reflect action in growth stocks, and as of late QQQ does not either? Cant use SQQQ or futures to hedge since they are not correlated to a long portfolio of growth stocks IMO… “Typically the Naz does correlate well with growth. You’re right that FFTY is giving a better read on growth right now. I agree we should talk about it more. If you use the beta feature on TOS with deltas added to your portfolio view you can get the generally right level of hedge with SQQQ or shorting the Nasdaq futures. Here’s a clip that shows how I use it to hedge: https://www.investors.com/videos/ibd-live-demo-hedging-with-futures/” Can you explain QFIN going back and forth in Leaderboard? Whats happening with this stock? It’s not Leaderboard per se — it’s in the IBD 50. While Leaderboard a is list of top stocks curated by our team, the IBD 50 list is algorithm-based. There are a number of fundamental and technical factors that could cause a stock to be removed/added to the list. But it’s not us humans doing it! 🙂 Good Morning IBD Live! I’ll be right back. I have to put my leather jacket on and walk down the street! Ha! Happy Thursday from Chicago . . . . We’re going to have a fantastic day of investing! Happy Thursday Peter! Dave Good morning from Long Island. Hi Glenn, thank you for joining us! Dave Good morning! Let’s see how TSLA ‘handles’ itself now that there is a handle! lol I’m not super thrilled with a handle just above the midpoint and with declining 50-day line, but it’s a good time to pause with earnings on the horizon. Hey Ken, your son is with the Twins organization? Would like to follow him. Ken’s son is Ryan Shreve! He was a star pitcher at the Univ. of Pacific, in Stockton. Ken, I and a few others got to see him pitch here in LA a few times during his college days. Hard worker, very dedicated young man. Dave Harold – you still like BRKS? Yes, I like support @ 10 day MA Thank you for inviting Joe Fahmy back – love your guests Yes! Even more great guests to come! IBD Live is a very calming influence on my trading. When I want to panic I wait until you do LOL. Seriousl after decades of trading you guys have helped me immensly, thanks again. Haha this makes a lot of sense — a great community and we’re glad you’re part of it! Harold Morris, Great, very useful presentation on Moving Averages yesterday! Thank you. Thank you for your kind words! I have also had this problem for several days…From yesterday’s Q&A: Ali & Dennis: not a complaint, just a report; Yesterday & Some days I have to constantly go to Zoom prefs, select Video, then toggle Side by side mode off then back on to fix. Can happen every few minutes, maybe as screen changes. Today is not like that, side by side is working fine for me today. Not too much of a problem lately. does seem to depend on who is hosting, and maybe what version of Zoom they have. I updated my Zoom 2x lately, including yesterday. Thanks for all you do! Thanks for reporting, Steve — sounds like a weird Zoom bug… let us know if you’re having the same issue today, too! For a possible poll question, it seems like a lot of our growth stocks are climbing the right side of the base, can you talk about what constructive accumulation looks like on the right side of a base? 3wks tight, gapups, price support, accumulation, DMAs, WMAs etc As a follow up, instead of making an aggressive entry, should we be waiting for signs of constructive action first? When is an aggressive entry more likely to succeed? Thanks, Brian! Adding this to today’s poll Morning. Early question…how do you guys feel about patterns like rising/falling wedges…ex: TRQ? When I looked at the daily, it had the look of an ascending base to me — and sure enough, when I clicked on over to the weekly, the ascending base pattern shows up for TRQ. We view this as a powerful pattern! Let’s see if today’s action keeps the pattern intact Thanks Alissa. Followup, if the stock QFIN keps moving back and forth up and down on IBD 50 and related lists, wouldn’t that mean a lot of volatility in the stock. Better to stay away? Thanks, a lot! Agree that it’s been a very volatile stock. It’s below its 50-day right now, that would be the first hurdle we’d like it to cross before taking a more serious look. Plus, while the RS rating of 94 is good, the RS line is well below highs at this point which is not ideal Harold, Can you send a link to your moving average report.? Here ya go! – https://marketsmith.investors.com/resources/webinars/chartAnalysis?id=3907&node=p what is airline etf? JETS Poll question suggestion – how do you tell what a 10 week decisive break is? Yes, this is a good one! There are straightforward rules, but definitely an “art” component to it as well incertain circumstances. Thanks, Aziz! Can you give instructions on how to get the nasdaq composite chart? In our products, it is 0NDQC (that’s a zero to start) Sold a lot of stocks mon-tues and a lot recovered yesterday – feeling silly. Perhaps best to wait till end of week and see weekly closes? That’s what I’ve been trying to do — trying to follow the lead of Chris in terms of waiting for the decisive break of the 10-week by the end of the week 🙂 I definitely did a little bit of trimming at the beginning of the week like you, just in case things got worse, but trying to not have as much of a knee jerk reaction as I have had in the past. It’s hard! Ken you are AWESOME with the news! Totally agree! 🙂 Thoughts on UPST, pullback to 50dma and now rising above $105 resistance live answered Is the chart cut off at the bottom? I’m seeing the entire chart! Maybe try adjusting the size of your Zoom window? TXG — Just crossed above a Downward slopping line. Looking good. Seems like it’s getting ready to break out. Could we take a look at HZNP today…. live answered Yes, it’s happening now. OK I just changed the setting — how’s it now? how do you see LRCX today with earnings reaction? live answered Please discuss the divergent patterns between IPI & MOS. Both had significant increase revisions of their 2021/2020 EPS estimates. IPI is trading below 50-dma on low volume. Is this an immediate sell signal or wait for the end of the week? The week of 4/9, IPI closed 2.4% below its 10-week line, but above the lows of the prior two weeks. The following week, IPI closed 6% below the 10-week. And as you’re noting, it’s headed lower now. We consider a decisive break of the 10-week a sell signal. We like saying that we buy on fundamentals and technicals, but sell on technicals alone. Even if the fundamental story is still there, it’s in a great group, raised estimates, etc. that shouldn’t outweigh the chart action if the stock is flashing sell signals. In most cases, you can wait til the end of the week for your final sell with the decisive break, but start trimming as you see the stock breaking below the 10-week. A more extreme example of divergence in two hot stocks in a strong group would be what we’ve often seen over the years with NVDA and AMD. They’re often trading punches. Both have great fundamentals, but don’t always have strong stock action at the same time Please include CRCT in today’s discussion…. Crazy outside day to the downside a few days ago! That would’ve made this stock pretty hard to hold — at least for me. Even though it’s technically in the buy zone now, that big red day is pretty glaring, in my view. But the weekly chart looks decent, revenue growth is strong and it’s already profitable. Ali did you just switch settings from side by side view to speaker view in zoom? Hi! I changed it to standard — which should allow you to have more control of your view settings on your end! If you go into settings, click on side-by-side mode and you should get it back. Let me know if that’s the case or not. We are testing this because this theoretically lets our audience have more choice in the view settings. to Ali, Dave & Dark Ops – funny thing on Zoom – I was watching with 4 staff videos on right side in a column; just looked up and now I only get the speaker at the top, and no option to go to side by side view . . . If you go into your Zoom settings, you should be able to change to side-by-side — we are testing a setting that allows more flexibility on adjusting settings from the audience end. Let me know if you’re able to get side-by-side back! Usually I keep Zoom in side-by-side view. Today I dont have side-by-side view and I have no option to get it back. It turned on earlier and then turned off by itself a few mins ago Hey Richard! We are testing something that may allow more flexibility on the viewer’s end in terms of the view options. If you go into settings in your Zoom application, you should be able to check a box for side-by-side mode to get it back. Sorry for the inconvenience — please let me know if this fixes the issue or not! “Thanks Chris, I have investigated TOS for this feature (E*Trade does not have the beta-weighted feature). I choose to stay with E*T due to it better fitting my style/personality – simple! Also TOS seems to be down a lot while I was evaluating it… Thanks for all you guys do…. -Rob” I agree that TOS has had a lot of performance issues over the past 6 months, especially early in the session. That seems to have receded with so many newer traders seemingly stepping away from the market. Okta breakout? Security seems pretty strong live answered Please include tdc in discussion We discussed that soon after the open. We’ll circle back before we finish. Can we look at ALGN – didn’t act when it went on Swingtrader but it’s been behaving and getting close to pivot – though earning soon live answered NVCR- actionable? We talked about it yesterday. You could use the low of the gap as your stop. Also note that earnings are coming up next week. Is it possible to watch IBD live via a smart tv or ipad? would love to watch as I work out. Hi there! For mobile/iPad, download the Zoom app. Then, log into your IBD account from investors.com via Safari on your iPad. When you launch the show, that will automatically open the Zoom application! Instructions also can be found at investors.com/LiveFAQ Ali, YETI over 88! Congrats to all who got in on this one! Looking great so far Candlesticks would be more informative in Marketsmith. Why not convert to candlesticks? In the works. Not sure when they will roll out. OKta breaking out live answered please review 3 stocks mentioned yesterday if you don’t mind. AMAT HZNP PYPL. thanks live answered The change in settings only permits me to swap the shared screen with active speaker, I no longer see a side by side option. There’s a box that you should be able to check for side-by-side mode in the settings window of your zoom application — the place where you go to change your virtual background, video and audio settings, etc. Let me know if you find it! Look at HCA and WST…charts are defying market weakness!!! Medicals are definitely outperforming this week. (From Dave: also, keep an eye on the IBD New Highs list! In IBD Data Tables — Visa == thru the pivot live answered SE – sold my pos in this earlier in the week when it broke the 21d/50d. Still has solid fundamentals. What action should we look for possible re-entry? I always want to see a longer consolidation after a stock makes an almost 10-fold move. I think it needs more time. DXCM moving above $400. been quiet for a while now Don’t like that volume has been lighter the past few weeks compared with the selling in February and March. Also the RS line and rating is lagging. How is UPST looking to you? Retaking 50dma and crossing a short trend line. live answered Is UPST something we can look at live answered The side-by-side view is not available, despite trying to go to the settings, like Ali suggested. Have no option to see the 4 speakers along the side anymore… Thank you for this, Mieke. And thanks to everyone for their patience while we test this out. We were getting a few complaints about our settings, so wanted to see if this would give everyone more flexibility. But it seems like that’s not the case! Also what’s interesting here is that while we think of this rotation between growth and value, or large cap vs small cap, the other rotation has been low vol vs high vol equities. Look at the outperformance of USMV vs SPY Interesting. I’ve never looked at that ETF before. Seems to be just keeping up with SPY but that is a change in character. Unique question- Can you comment on the weight or affect that Barron articles have on a stock? I notice it on the MarketSmith charts and always wanted to ask. Why Barron’s? Thank you all! To be honest, we don’t pay attention to that! I’ve never heard Chris talk about it in the 7 years I’ve worked with him Can we look at OKTA live answered You speak of him a lot. When are you going to have Perbeen on? I’d bet we’d all like to meet him. And I sure hope I spelled his name correctly! Prabin! He’s great 🙂 OKTA LOOKING GOOD live answered Any thoughts on UPST after a good bounce off the 50 day? live answered Would love to hear the experts opinion on FOXF, new to IBD, I liked the chart but still trying to learn all this. We talked about it yesterday. I said it was like the YETI of offroad suspension gear. Fundamentals are solid but since 2018 it has a history of failed breakouts, much like YETI. Whatever setting you just changed ‘fixed’ the side-by-side issue, thanks! Thanks everyone for their patience as we test some stuff out! Ali, Thanks for being on top of this issue. Fixes on your end hold for awhile. Then the side by side mode comes back on its own and the user needs to change the setting in the zoom preferences to get back to full view. It seems to be an overall internal zoom issue that zoom needs to address in an update. Steve live answered Side by side just popped back again! Yeah, I changed it because we were getting people complaining about the change. Sounds like we need to get with the Zoom team and figured out what they changed in a recent update so we can go back to allowing more control of the settings by the attendees Ha! Thank you, Alissa. Also, I know this is a little late, but GREAT show on Monday with Mark. Extend him my thanks and thank you as well for having him. I like the guest on the show. Keep it up! Aw this is great! Thank you so much. Mark was definitely a hit. So awesome having him on!! Hey the view is back. Nice to see y’all again 🙂 OKTA its already extended for this market. live answered Use OKTA every day and really like the product. live answered CMD looks interesting live answered ALGN live answered UPST please live answered Please explain again when a new base resets. Here’s a good story that explains it! https://www.investors.com/how-to-invest/investors-corner/counting-bases-is-a-crucial-skill-in-playing-long-winning-stock-rallys/ and https://www.investors.com/how-to-invest/investors-corner/this-medical-hot-rod-peaked-in-2008-after-5-bases-can-it-lead-stocks-again/ Alissa, I like the way the view looks on my 27 inch display. Good to know! Thanks Ali. In response…Zoom went back to side-by-side mode by itself. I still dont have the menu option to select it myself. I have Zoom version “5.6.1 (617)” Appreciate this feedback! I changed it back because we feel that side-by-side mode is the best viewing experience so we definitely want people to be able to view that show in the way. We were just testing a theory that the other setting provided more flexibility of selecting view options on the viewer end… Guess not! 🙂 Carlyle Group is a good example of 5 weeks blue Hi Jim! Yes, very good point. And the multiple up weeks in a row in Nov 2020 to Jan 2021 was very constructive en route to a breakout. Cheers, Dave Hi!! Can we consider YETI as going on in a constructive accumulation? 4 weeks in a row with positive volume (the first week in low volume but positive, could this be count?) thanks Looking good. Also the red bar before the four blues closed in the upper half of its range, which a sign of support/accumulation. VIPS looks actionable Yes it is getting support at the 40-week, but it is now under a declining 10-week. Too soon for me. ALGN — Is symmetrical . . . Draw a vertical line down the center of the cup . . . . Almost a mirror image. Great point Peter! — https://www.investors.com/how-to-invest/investors-corner/how-to-use-stock-charts-roku-bullish-element-symmetry/ Did Bill consider the closing range on daily or weekly charts? You know a red bar can be a support bar. Absolutely. He always said that a close above 40% in the range on a red week should be considered support. Those were excellent points Justin; I took notes! Love to hear those anecdotes and observations from your time with Mr. O’Neil. Thanks! Totally agree — golden nuggets for sure! What’s the plan for SAM? Earnings this afternoon, not much cushion…looks like an exit from Leaderboard? Hi David, Hat Man Dave here; yeah, the cushion from the entry in SAM is not big enough to justify holding through earnings, IMHO. See how SAM has gone up a lot since that positive reversal on 3/25? Makes me think if there will be a “buy the rumor, sell the news” result. But what an impressive gainer since early 2020. does SQ have any overhead on the left? Hi Urmi, in the near term, yes, you are right. A drop from near 275 to 246, exceeds 10%. Since SQ moves fast, you would think some hot money would be eager to sell into any future strength to cut losses. But I like how SQ is finding 50-day MA support, and it may result in a good handle. Cheers, Dave — https://www.investors.com/how-to-invest/investors-corner/stock-chart-reading-overhead-supply/ Can you comment on ROKU Hitting resistance at a downward-sloping 50-day line at this time. Would love to see it get back above that level and hold it. Fantastic fundamental story and a huge run last year — just taking a bit of a break right now! We’ll keep an eye out for an aggressive entry to develop. Jason Thomson, who’s been a guest on this show, is bullish on Roku and perhaps was buying as it got close to its 200-day. But we like seeing a bit more strength first Good morning. I have a question regarding Stochastic indicator. I have seen that daily and weekly stochastic shows different over bought and over sold conditions. Now is there something like daily is preferred over weekly or vice verse. Thanks A stock may be overbought on a shorter term chart but still looking fine on the weekly. I occasionally look at weekly stochastics, but I find the daily version more helpful in timing reversal buys. Can anyone please explain how Timeliness Rating in MarketSmith is calculated and where to find it in IBD? It’s a very old rating that I don’t think has been updated since the 1970s. No one I know of at IBD or the parent company uses it. Not available on Investors.com. NVDA is a good example of accumulation on right side of base Agreed Can you comment on ATKR?atkr Hi Carolyn, this one is def worthwhile for the watchlist. We featured it in the IBD 50 Stocks To Watch column. After a big run, this sideways action looks bullish to me. Dave — https://www.investors.com/research/ibd-50-growth-stocks-to-watch/ Wanted to get your thoughts what the reason would be for a stock to have huge daily volume spike but no price action?? Appreciate it. Sometimes it is related to options expiration, or perharps a big swap trade. SBLK at new high today. thoughts? live answered “JUSTIN — that is my favorite metric – thx – compare EPS growth rate against EPS stability – great way to search for LT Leaders! That is why P Y P L is one of my biggest positions” That’s great Chet! ENPH is gapping up today. How would you play this stock (what needs to happen before it is actionable) or the solar sector? I wouldn’t touch it until it gets closer to the top of the base. Earnings also next week. That said, you could buy a call or simply size it off the 10-week and see if it can continue to build the right side of the base. to Ali – the option to change view on Zoom screen no longer shows at the top right corner; it only shows at the very top in middle. Also, the only place in Zoom Settings that I found to change between Speaker View and Gallery View is under the Keyboard Shortcuts tab – you can “Switch to Speaker View” using Alt+F1, or you can “Switch to Gallery View” by using Alt+F2. (If you want screen shots sent by email, I can do that. Or if you want my input when you talk to your Zoom Rep, I can do that as well.) Thanks! You’re too kind for sharing this info, Scott! We’ll have our team do some testing. No screen grabs necessary but thank you so much for letting us know! Ali, Steve, when side by side mode comes back on its own, what setting do you change in preferences to get it back to full view? Try this? Switch to Speaker View” using Alt+F1 Thoughts on UPST? MOVING live answered GM looks pretty good rebound Good to see it holding above its 10-week. Can’t say the same for Ford! Would be even better to see GM get back above the 21-day Curious, is the power trend still on? Yes. ‘@justin thoughts on UPST for a swingtrade? live answered where do you find the ATR live answered I don’t see where we can view the ATR? Please point it out. I use thinkorswim for that figure. thoughts today on FOXF live answered DOMO – can you guys look at it.thx Hi Ronaldo, Hat Man here. This is an important week, no doubt, as DOMO is rising back above its 10-week line. Week to week, it is still volatile, but a few more up weeks would help fashion a solid cup base. Within the base itself now, I see four down weeks in heavy volume. But, three of the four showed a good weekly closing range, 40% or higher (as noted in MarketSmith). Any time you’ve got a down week but the stock closes in the upper half of the range, or even the upper 60% of the low-to-high price range, this action indicates institutional buying support. Hope this helps! Dave — https://www.investors.com/how-to-invest/investors-corner/what-is-a-support-week-stock-market-winners/ “Justin Where do you find the ATR ?” live answered ATR also available in MS custom screening. live answered Pool broke out Indeed — garnered some early discussion by the panel! Question would be whether an earnings gap in a stock like POOL will work in this market that’s been marked by a lot of pullbacks/rotation. POOL is a long-term leader, and we typically like buying those as close to their 50-day/10-week as possible. But we are fans of earnings gaps. Let’s see if it can get above its first hour high/have a strong close today FOXF, I make metal parts for their suspension systems and their business is up this year over 40 % and growing Interesting info, Jim! Thanks for sharing Thank you, but all Alt-F1 does for me is to show only the speaker on the right side of the screen but it uses the same amount of screen real estate. Then Alt-F2 returns to all four panelists. The rest of the screen stays the same. I think that’s what Steve said he saw also. Our investigation into this will continue — in the meantime, and maybe you’ve tried this, you can take your cursor between the chart and panel windows and drag the panel windows to make them a bit smaller. Thanks for your patience, Dennis! Thank you Justin for your thoughts on FOXF. New to CANS LIM and I was studying this one last night but was unsure what to do. Love that IBD Live allows us to hear what you think. live answered Ali, Yes, I like side-by-side mode the best. I can see the chart in its largest size and detail. In meetings with other organizations I have the side-by-side option available, but still not here. As long as it is by default I am happy. The other mode (with faces at the top) is not that bad for me either. So just to confirm — you’re NOT seeing side-by-side mode here? What view are you seeing? WOULD you consider SBLK breaking out? volume has been pretty good It’s 18% above the 10-week line at these levels and it’s not quite a proper base. Seems like a great area to get in would’ve been on 4/14 when it cleared that tight area around the 21-day in heavy volume. I’d personally wait for another pullback! RBLX: Please comment on Retaking the Prior 3 Weeks Tight Acting better, but looks like the two up days will be on lower volume than the 3-day sell-off. I’m still holding my original buy, which is postive again. regarding the 21 day lines. do you follow the sma or ema? EMA! Info on all the moving averages we use for daily, weekly and monthly can be found on investors.com/LiveFAQ 🙂 Ken has very clear and straight forward analysis. Very helpful Ken rocks!! TWTR? Back below the 50-day/10-week. I have a trend line drawn on the tops of the base. Waiting for it to break that line. Thoughts on LRCX? Not liking this reversal but at least it’s holding the 21-day SBLK – Way to go Justin live answered Would you consider buying SBLK at this point? live answered Any response to my question on SNAP asked earlier this morning? Hi John! Didn’t see the Q earlier so not sure if you’re holding or looking to buy — if holding, would be great to see it close within 2% of the 10-week. If looking to buy, we’re seeing a handle here forming with a 65.96 buy point. Perhaps aggressive investors may not wait for the handle entry and get in if/when the stock clears its 10-week and the 60 level, sizing their positions off the 10-week MRNA broke out of Cup w/handle with juice. XM had a post earnings breakaway Gap and I added to POOL today am I doing too much today. 3 buys Hey Vincent! RE: MRNA – Not enough days for a proper handle, but perhaps this has the spirit of a Minervini cheat? Either way, definitely clearing that 172 level.. with some “juice” as you say! 😉 Is the plan for Chris to return to the show full time or part time only? Chris likes to get a rotation going and we are generally not on at the same time so that one of us can watch SwingTrader. TXG — Now up 3.43% . . . still no volume, but a nice move above its downward sloping trendline. live answered it was the 7th question of the day Thanks for your patience — we have over 240 unanswered questions in the queue right now, the audience only sees the answered ones! Trying to answer as many as we can 🙂 Thanks for continuing to ask! Maybe check GT ? Still on the Ready List, John, and I do like the tight action lately! Yes, good one to watch closely. Hat Man Dave On GT consider new buyers of used cars? I’m still sitting with it, especially since a handle if formed. TSLA any idea how earnings are going to be? Should I hold through earnings if I don’t have that big of a profit cushion? MS says Monday April 26 after the close. What about sedg It seems to be responding to President Biden’s pledge to encourage the world’s largest economies to cut greenhouse gases. This is def an important week for SolarEdge… getting support near the 40-week MA! Thanks Aniekan for joining us! Hat Man Dave Hatman you are awesome A virtual hat tip to our Hat Man! TDC seems a little extended . . . ha ha ha. live answered AMAT? live answered Think my earlier question was missed? Could you comment on YALA and MELI? Thanks tons Hey Tiffany! Would be great to see YALA get back above its 50-day, trend higher, and form a new base. Stock action was great for this IPO stock until it started plunging from its all-time highs. I think the chart has a bit of repairing to do, even though the fundamentals are definitely compelling. MELI another one that was looking great until mid-Feb – resistance at the 50-day, would be great to see it get back above that level. And since the 50-day is downward-sloping and the stock is 22% off highs, would want to see it climb up the right side of the base and then maybe form a handle! Ed, nice job moderating today. Lots of stocks covered! And a really good poll Q got covered! Thanks for joining us, David! Professional presentation – Many many thanks to the panel Thank you I had asked Marketsmith team to have the ATR be expressed in %, but no change yet. Can you suggest that please? I’ll pass it along! Honored to be with you again, my friends. Thank you so much and have a great day! We’re honored too, Shane! Great day everyone! You too Hat Man II
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