rss

US House passes border bill amid India anger

WASHINGTON — The US House of Representatives on Tuesday passed legislation to toughen US-Mexico border security, amid anger in India at the steep increases in work visa fees proposed to pay for the new measures.

The measure, unveiled 90 days before November mid-term elections, aims to add another 1,500 agents and deploy more unmanned aerial vehicles that scan the frontier for undocumented immigrants or illegal drug runners.

The House, called back from a month-long break to adopt an emergency spending package to help cash-strapped states, passed the border measure by voice vote.

The legislation’s 600-million-dollar price tag would be paid by raising fees on what the measure’s backers called a handful of foreign firms that “exploit” US visa programs to improperly import workers to the United States.

A summary of a Senate version of the bill named Indian firms Wipro, Tata, Infosys and Satyam, which fly thousands of employees each year to the United States to work at their clients’ locations as technicians and engineers.

India’s National Association of Software and Services Companies (NASSCOM) has slammed the bill, warning it would boost annual US visa costs for India’s outsourcing industry by 200-250 million dollars annually.

S. Gopalakrishnan, chief executive of India’s second-largest outsourcer Infosys Technologies, told reporters late Monday he was “saddened and disheartened” by the step and said the sector would lobby strongly against it. (more…)

Reacting versus Predicting in Trading

Most of the best traders I have read about and know of personally do not predict what will happen they trade what is happening. New traders always want to predict, they want to argue about their beliefs and why something must happen or will happen. Most rich traders are rich because they are flexible, they have no strong opinions and are just looking at possibilities and ready to take a set up, buy a break out or short a break down. A new trader believes that ‘conviction’ about a trade is important, holding through an adverse move is usually a bad idea, especially if a key level is reached that is showing the trader that they are wrong. A rich trader is waiting for some price level to trigger their entry then another price level to trigger their exit. A new trader is trading off a belief and has no real exit plan most the time because they are sure that they are right.

The money I have pulled out of the market over the past 10 years has come from trading price action not predicting. I have entered at high probability moments on break outs above resistance levels. I have trailed my winning trend trades with a stop and sold when the trend reversed through key short term support. When I was wrong I stopped out for a small loss, when I was right I let the winner run up for a very big win. I am always trend hunting, always taking my high probability trades, always cutting losses short, and when not seeing a great trade doing nothing and waiting.

Jeff Greenblatt, Breakthrough Strategies for Predicting Any Market-Book Review

JEFFThe first edition of Jeff Greenblatt’s Breakthrough Strategies for Predicting Any Market: Charting Elliott Wave, Lucas, Fibonacci, Gann, and Time for Profit appeared in 2007. Since that time Greenblatt came to embrace the work of W. D. Gann. He also found that Alan Andrews’ median lines served as “an excellent GPS system in order to understand how trends evolve.” The second edition (Wiley, 2013) thus includes new chapters on Gann, Andrews, and median channels. It also addresses market sentiment/psychology.
Greenblatt is the director of Lucas Wave International and editor ofThe Fibonacci Forecaster. And who was Lucas, you might ask. (Well, at least I did.) Edouard Lucas (1842-1891) was a French mathematician who invented the famous (some might say infamous) Tower of Hanoi puzzle. He also studied number sequences, most notably the Fibonacci sequence. The closely related number sequence (2, 1, 3, 4, 7, 11, 18, 29, …) is named after Lucas.
But back to the book. (more…)

Golf Etiquette

Here is an actual sign posted at a golf club in Scotland, UK

1. BACK STRAIGHT, KNEES BENT, FEET SHOULDER WIDTH APART.
2. FORM A LOOSE GRIP.
3. KEEP YOUR HEAD DOWN!
4. AVOID A QUICK BACK SWING.
5. STAY OUT OF THE WATER.
6. TRY NOT TO HIT ANYONE.
7. IF YOU ARE TAKING TOO LONG, LET OTHERS GO AHEAD OF
YOU.< /SPAN>
8. DON’T STAND DIRECTLY IN FRONT OF OTHERS.
9. QUIET PLEASE…WHILE OTHERS ARE PREPARING.
10. DON’T TAKE EXTRA STROKES.

WELL DONE… NOW, FLUSH THE URINAL,  WASH YOUR HANDS, GO OUTSIDE AND TEE OFF.

Go to top