Bakeries wait for bread ruling
A ruling is expected today on the class action suit against South Africa’s three biggest bread makers. |||
A ruling is expected today on the class action in the Western Cape High Court taken by a group of activist organisations, including Cosatu, against the big three bread makers – two of which have previously been found guilty of fixing bread prices.
Meanwhile, the government made it clear that a special fund set up to house R250 million of the fine on Pioneer Foods broke fiscal rules and the imposed fine of must be directed to the national revenue fund overseen by the Treasury. Economic Development Minister Ebrahim Patel had said that the money would go to an agro-processing start-up fund run by the Industrial Development Corporation, which falls under his department’s domain.
Commenting after the weekly cabinet meeting, government spokesman Vusi Mona said the matter had not been discussed in cabinet. However, Mona said any money owing to the state needed to be directed through the Treasury. It is not clear at this stage whether Patel’s fund – aimed at promoting competitiveness in the food industry – will still be viable.
Another fund to protect the poor may also fail to see the light of day. Should the activist groups lose their case, it is likely to end their hopes of setting up a fund – this time managed by the non-government sector – to benefit poverty alleviation projects.
At the high court yesterday, Acting Judge Francois van Zyl reserved judgment, but is expected to make a ruling today after hearing argument from Cosatu Western Cape, the Black Sash, The Children’s Resources Centre, the National Consumer Forum and five individual consumers, as to why they should be recognised as representatives of the poor in the Western Cape who paid inflated bread prices.
The three major bread producers, Premier Foods, Tiger Brands and Pioneer Foods, have also presented their case.
Yesterday much of the day was devoted to argument from Premier Foods’ legal representative, Anton Katz, who argued that Premier could not be sued. This was because it had not been found guilty of price-fixing, but instead had been granted corporate leniency.
Charles Abrahams for the activist groupings argued that the rights of the people harmed by cartel activity needed to be upheld. He also argued that corporate leniency was a policy of the Competition Commission and was not provided for in terms of the Competition Act.
The commission granted Premier Foods leniency for co-operating with its probe and Tiger Brands reached a settlement with the competition regulator in 2007.
Black Sash advocacy programme manager Nkosikhulule Nyembezi emphasised that it was an urgent application because the class action for damages had to be filed within three years of a judgment for price-fixing. – Business Report
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127 Hours ( **1/2 )
United States (CNS) – 94 minutes
In theaters November 19, 2010
Rating: R, Drama
It should be static. But it’s not. It should be unwatchable. But it’s not. And it should be depressing. But it’s not.
Still, 127 Hours, a nightmarish account of a horrific ordeal, is not for everybody, even though it’s well-made, well-acted, and well worth two hours.
Regardless, recommending a movie that traps you with (nearly) its only character — a mountain climber who is trapped under a canyon boulder and must eventually do something unthinkable that will not be described here even though you probably already know what it is — is not an easy thing to do.
127 Hours pays off so differently than the typical movie experience, and asks so much more of the viewer in terms of patience and fortitude and open-mindedness and commitment, even a proponent feels the need to issue a warning.
And a reminder that not all experiences and writings lend themselves to the movie screen, even those that can be translated in commendable fashion, as this one is.
James Franco plays real-life hiker Aron Ralston, who fell into Blue John Canyon in Utah, where he was pinned under an immovable fallen boulder for an unthinkable five days, a harrowing ordeal he described in his 2004 memoir, Between a Rock and a Hard Place.
Danny Boyle (Slumdog Millionaire, 28 Days Later, Shallow Grave, Trainspotting), who co-wrote the adapted screenplay with Simon Beaufoy, takes on the challenge of filming the unfilmable, and overcomes the problem inherent in this action flick with no action by taking an impressionistic approach, including Ralston’s flashbacks, fantasies, hallucinations, and memories as a hedge against the claustrophobia of the canyon.
And in the film’s most dramatic, excruciating, and inevitable scene, one that involves an act that you fear even as you submit and root for it, you confront the momentous What-would-I-have-done moment. Expect to find it necessary to look away but impossible to stay away.
As the desperate and courageous but undeniably reckless canyoneer, Franco — who obviously carries virtually the entire film with no one else to play off of: even Tom Hanks had more company in Cast Away — is nothing short of spectacular. His tour de force performance not only fulfills but exceeds the expectations he just hinted at in such films as Spider-Man, Pineapple Express, Milk, and Eat Pray Love. Put him on the short list for a Best Actor Oscar nomination.
There’s not much motion in this motion picture, but plenty of emotion. So bring your sense of indoor dread, as well as your belief that you’ll survive this tale of outdoor survival.
An intensely visceral real-life-and-limb drama, 127 Hours is certainly not a movie experience you’re likely to enjoy, but one that provides a vivid view of a mountain of accomplishments by Aron Ralston, Danny Boyle, and James Franco that you’re sure to admire.
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Forward market gears up for heavy action
With huge FII inflows pushing the Sensex to new highs, the domestic currency forward market is witnessing hectic activities in the current fiscal as India Inc seeks to cover its forex exposure.
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Bank Of England Mulls Another Round Of Fiscal Stimulus Action
London, England, United Kingdom (AHN) – The Bank of England is considering another round of fiscal stimulus after the pound dipped and interest rates suffered its largest drop in over 18 months on Wednesday.
Reports said the British central bank may order another round of quantitative easing – or the printing of electronic money. The move would boost money supply and improve the pound’s standing against other currencies.
Some of the nine-members of the Monetary Policy Committee of the Bank of England pushed for more stimulus action because of threats to the recovery of the British economy. The committee, in a 8-1 vote, opted to keep key lending rate at the record-low level of 0.5 percent and not to increase the bank’s $300 billion (200 billion pounds) quantitative easing program for the meantime.
On Wednesday, the business group CBI forecast that the Bank of England would hike benchmark interest rates later than previously anticipated. CBI foresaw key lending rates going up to 1.25 percent by the end of 2011.
CBI said Britain’s tentative recovery will be sustained, but with weaker levels of growth because of massive spending cuts by the coalition government.
Among CBI’s other major predictions are that inflation would remain above the Bank of England’s 2 percent target until 2011, exports would rise by 3.5 percent in 2010 and 6.4 percent in 2011 and unemployment would even grow to 2.62 million jobless Britons by end of next year.
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Japan Forex Market Hours – Japanese Candlestick Patterns
Japanese candlestick charts are the most visually rewarding charts to use when trading the forex market. The clear depiction of price action that they provide is second to none. Japanese candles provide a different aspect to charting in that they allow you to see the force with which either the bulls or bears won for a given period of time. There are numerous forex candle patterns that you can use when trading price action in the forex market. Candlestick patterns are preferable to standard bar charts because they allow you to apply all Western technical analysis techniques used with bar charts and also provide a variety of their own forex candle patterns, not to mention they are just much easier to look at.
Candlestick charts are by far the most popular form of chart used today in the forex market. Using forex candle patterns to navigate the market is a great way to make sure you see all relevant reversal patterns as well as trend continuation patterns. The forex market is open 24 hours a day 6 days a week; this means there are many more price action setups to take advantage of than what other financial markets provide. Japanese candles work great in the forex market largely because there is almost always a trending market somewhere in the forex market. By using candlestick patterns in forex you can easily spot strongly trending markets and find great high probability setups into these trends. Forex candle patterns also allow you to spot market reversals at the earliest possible time. Japan Forex Market Hours
Forex candle patterns visually display the supply and demand situation for whatever currency pair you are looking at on any given time frame. This colorful visual representation of supply and demand makes price action analysis much easier and more relevant. By being able to quickly and clearly see the force with which the bears overcame the bulls or the force with which the bulls overcame the bears you will become a better price action analyst and the discretionary or “art” part of forex price action analysis will become much more accurate for you. This accuracy will spill over to your psychological mindset and make you a more calm and confident forex trader.
Japanese candlestick patterns are just as relevant to the forex market today as they were to the rice traders in Japan who invented candlestick charts back in the 18th century. Traders have been using these charts for hundreds of years to help predict future price movement, just as the rice traders in the 18th century obviously did not have any lagging indicators, you do not need them either. Price action trading via a stripped down and raw price chart combined with forex candle patterns is all you need to become a successful forex trader. Candlestick patterns in forex combined with price action analysis is all you need to develop a simple yet highly effective and profitable forex trading plan that will allow you to maintain clarity and objectivity while trading forex. Japan Forex Market Hours
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STRANGE ‘STALKER’ SCARE (don’t do this)
Since Thursday, my mail box has been inundated with emails from my reading asking for more info regarding Travis Lucas Enlightenment FX.
Here’s the facts: The buzz surrounding Enlightenment Forex has been spreading like wild fire through our forex community.
And unless you’ve been trading under a rock, you’ve probably been hearing a LOT about it too.
Here’s the saga so far:
First, Travis released his amazing profit tripler — The EFX Market Indicator – which many traders hail as the BEST market-condition- identifying indicator EVER.
Then, yesterday, he raised the bar even higher with the release of The MTF Trading Method.
In fact, so many traders got excited about Enlightenment Forex that his website almost “crashed” because of the sheer number of traders visiting at the same time.
The stats are now in: In just the past 48 hours, 35,327 traders have visited the website… and over 11,000 traders have raised their hands and expressed interest in Enlightenment Forex.
And that’s SCARY.
Because he’s only releasing 200 copies of Enlightenment Forex next Tuesday.
The competition will be absolutely CRAZY. Traders will crawl over broken glass to get a copy.
That’s why Travis have to do some RUMOR control.
He decided to pull back the curtains and reveal some cool PREVIEW videos about Enlightenment Forex…. showing you the reliability, effectiveness, and raw power of it.
You’ve got a rare chance to see it in action and witness some of the live trades Travis makes with the system.
See the preview videos here:
==> Visit Official Enlightenment FX Site
Given all the CRAZINESS revolving around this system, I can’t urge you enough to hop right there to the page and put your email in the waiting list, before Travis pulls it down. With this kind of response, nobody knows when he is going to do just that.
So, stop what you are doing AT ONCE, and sign up to the Enlightenment Forex waiting list right NOW
==> Visit Official Enlightenment FX Site
It may take less than 2 minutes of your time, but it’ll be very well the most IMPORTANT action you take in the whole 2009.
Once you are inside, you’ll have the chance to see the powerful Enlightenment Forex system in action, witness some of the live trades Travis makes with the system.PLUS, you stand a chance to win a copy of the Enlightenment Forex system for FREE.
So, this is your call, but I do hate to see you miss out on such an offer.
It sucks!
Article Source:http://www.articlesbase.com/day-trading-articles/strange-stalker-scare-dont-do-this-1603627.html
ES Emini Day Trading: Exponential Moving Averages vs Simple Moving Averages
Moving averages are an integral part of most day traders indicator arsenal, and getting two traders to agree on which indicator is the best, or which configuration yields superior results is an argument that will rage on forever. There is simply no agreement as to exactly what works best-and that is as it should be, because no two traders trade with same mind set and personality.
In the world of moving averages there are two contenders for consideration. The diminutive simple moving average (SMA) and the more complicated exponential moving average (EMA). Because the EMA has a more sophisticated method of calculation, many consider it to be the superior of the two averages, but that would be jumping to unfounded conclusions.
The SMA is a basic arithmetic mean: you add together the closing prices from the last 10 periods then divide the product by 10. As I said, the result is a simple arithmetic mean. Pretty simple? Too simple for some people, especially those who tend to associate complexity with efficiency.
Complexity does sometimes yield superior results, but that is not always the case.
EMA’s are really not that much more difficult to calculate. The formula is simply 2 (n+1), and the result is added to the prior days exponential calculation. With some simple deduction you will see that an EMA emphasizes the most recent days prices, or weights the most recent days prices more than prices early in the exponential sequence. Since any moving average uses historical data, or data that has already occurred to calculate the average, any moving average can be considered a lagging indicator. It should be obvious, then, that the purpose of the EMA is to “speed” up the lag factor that is inherent in all moving averages.
Do EMA’s really speed up the lag factor?
To a certain extent EMA make the lag factor in moving averages less distinct, but like all things, there is a cost. EMA’s are notorious for causing a raft of early buy and sell signals, as the last variables in the sequence overweight the average. For that reason alone, I am not a huge fan EMA’s and prefer SMA’s. Does that mean SMA’s are better than EMA’s? Not at all, all it means is that in my trading mentality I am far more comfortable with the results from an SMA than I am an EMA.
I always strike an 89 period SMA on my charts and watch the price action relative to the price action and the SMA. If the price action in more than 3 or 4 points below the SMA(on the ES contract) I immediately decide that long trades are out of the question until the price action moves closer to the SMA, and visa versa on price action about the 89 period SMA. I can also glean some nearly instant information regarding the trend of the market by looking at the slope of the 89 period SMA, and the sharper, or more pronounced the slope appears, the stronger the trend.
I also use a number of paired moving averages to back up some of my entry and exit points. I generally use Fibonacci numbers starting with 5 and up to form my two moving average lines. I find it best, on short term trading, to use to SMA’s that are within 15-20 points of each other. I will leave to you to discover which set of moving averages intersect at point which best suit your trading style.
So we’ve talked a bit about moving averages today, and seen some applications for the SMA. The EMA’s are also used by many traders and I would encourage you to explore the applications for this moving average.
I endorse a state of the art trading program for beginners at Trading Concepts, Inc It’s an awesome product that will have you well on your way to success. Plus, it has a money back guarantee…you have nothing to lose and thousands to gain.
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