http://www.iht.com/articles/2008/06/16/america/16midwest.php
NEWHALL, Iowa: Here, in some of the best soil in the world, the stunted stalks of Dave Timmerman's newly planted corn are wilting in what sometimes look more like rice paddies than the plains, the sunshine glinting off of pools of collected water. Although time is running out, he has yet to plant all of his soybean crop because the waterlogged soil cannot support his footsteps, much less heavy machinery.
Monday, June 16, 2008
Flooding in the American Midwest threatens crops
Saturday, June 14, 2008
Thursday, June 12, 2008
Earesults.com released, expert advisor system verification service for fx black box systems
PRESS RELEASE: Earesults.com released, expert advisor system verification service for fx black box systems
Automated trading is growing exponentially, as traders discover the obvious benefits of having a fully automated system that trades without human intervention. The current retail standard for making automated systems is the Meta Trader 4 (MT) platform, and the systems are called "Expert Advisors." There are many other similar platforms, but only MT has become so popular that it is being used by over 100 brokers worldwide, in addition to be popular with clients.
The MetaTrader 4 Client Terminal has a user-friendly front-end trading interface. It provides technical analysis, charting and Expert Advisors to help you develop your own trading strategies.
It is also distinguished for its wide range of functionalities that accommodate the demands of all traders.
Elite E Services (EES), a registered CTA with the CFTC and NFA Member, develops these automated trade robots on behalf of customers, in addition to offering them for lease or purchase. Joe Gelet, the President of EES, has a lot of experience not only developing but evaluating automated systems used by leading hedge funds and CTAs worldwide. He states, "There is no reason for a trader not to use this totally free service. There are many systems out there, it is hard to determine which are really producing good results. In this business, results are really all that matters, so we are asking traders to put their system to the test."
Boston Technologies (BT) develops technology plug-in for the MT platform, primarily for other brokers, traders, and technology providers in the automated FX space. George Popescu, CEO of Boston Technologies said in a statement "Web-technology today is cheap enough not to justify offering such a valuable system for free to the community. This service can only bring benefits and should improve the overall industry. Therefore Boston Technologies is ready to help develop EA Results and maintain it as needed."
Boston Technologies and Elite E Services have therefore collaborated on this joint project called "EA Results" with the website www.earesults.com . EA Results is a secure database system that will collect information from trading systems, direct from the MT terminal FTP function. Traders can upload their account statements automatically to EA Results server, which will display them publicly for all to view. It is not possible to forge or cheat the system, so systems traders can officially display their results for all to view. Since the technology is using MT's built in FTP function, it will not affect trading, and can be used from any terminal. In fact, it is not required that the trader run an EA, they could upload any account statement in MT.
Anyone looking for an FX system lately is overwhelmed with systems. It seems there are more systems than there are FX trading accounts. As a testament to that statement, EES has collected over 10,000 EA's in a few years working with MT4; most of them are useless from a trading perspective. They all have some interesting features, but in this market the only thing that matters is results. That is why traders develop systems, to trade well, not for any other reason. Commonly, groups of traders will exchange account statements and back test reports, but there is no central secure database of results tracking for the EA community: until now.
FX Systems are beginning to mature as a method of trading, yet how do we know what systems are really working and which ones are not? Of course, past performance does not indicate future results, but at least we can verify the past performance as valid.
Searching Google for FX, it seems there are literally thousands of automated systems making consistent returns with almost no risk. But the reality, based on broker provided statistics, do not match this false impression. How does one know that a website is honest? Forums such as FX-Review.com and others have created a way for clients to share their experiences and have done a lot towards exposing frauds like FX Unigma and others, which were complete frauds. However, it is often questionable who the forum posters are, if they represent other interests, and much debate exists on the credibility of the posters. There isn't any easy way to prove if a system is performing or not.
Systems Traders and Developers should have no reason not to upload their account statement to EA Results, and it is free for them to do so. It is important to offer this service free, so there are no excuses, and no conflicts. EA Results may charge in the future for additional services such as auditing or capital allocation services, but we will never charge system vendors for uploading their systems. For the developers, we are doing this for very clear reasons: to find a system that has proven results.
EA Results is NOT a Strategy Runner or an FX Auto. It is for Meta Trader, and trader's who know MT know that you don't need any automation service to use EA's. However, the problem with MT is it is difficult to verify results because until now, there has been no 3rd party verification service for the MT platform. We want to give traders the chance to prove their systems results.
Some statistics claim that 95% of all FX traders lose, however Todd Crosland, CEO of Interbank FX, claims that in the last 24 months, 49% of their accounts are positive. It is not easy to prove this or other claims by other brokers, because they do not run an open book. EA Results is an independent, non-broker account statement auditor, in that we are collecting account statements and saving them so they cannot be edited, modified, or deleted.
We encourage all Expert Advisor traders and developers to upload their account statements for any reason. In addition, if you have capital to invest in trading systems, you should contact us so you are eligible to use systems that are proven once they establish a track record. We will offer a capital allocation service once we have a pool of proven systems. Please visit EA Results at:
EA Results is not an investment advisory service, and does not recommend investing in any systems. Use at your own risk. Past performance does not indicate future results.
For more information, contact Elite E Services at:
2620 Regatta Drive Suite 102
Las Vegas, NV
89128
646-837-0059
Released:
http://www.free-press-release.com/news/200806/1213242453.html
Wednesday, June 11, 2008
Corn Jumps to Record as U.S. Cuts Output Estimate on Heavy Rain
http://www.bloomberg.com/apps/news?pid=20601082&sid=aXc5SbhHaXRE&refer=canada
une 11 (Bloomberg) -- Corn rose for a sixth day to a record in Chicago, leading gains in soybeans, wheat and rice, after the U.S. cut its output estimate by 3.2 percent from a May forecast.
Output will be 11.735 billion bushels, compared with 12.125 billion forecast on May 9, the U.S. Department of Agriculture said yesterday in a report. The estimate is 10 percent smaller than last year. Inventories in the world's biggest producer may drop to the lowest since 1996 by Aug. 31, 2009, the USDA said.
Corn prices have climbed 50 percent this year, heading for a fourth straight annual gain, as demand surged for livestock feed and biofuels. Global inventories are forecast to fall to a 24- year low, the U.S. government said. The price of wheat, rice and soybeans also reached records this year after adverse weather curbed global output, reducing stockpiles amid rising demand.
``No one can stop the corn price's run-up now,'' Hiroyuki Kikukawa, general manager of research at IDO Securities Co., said today from Tokyo. ``Now we have heavy rains in the Midwest and will see a summer heat wave in July and August. We may see the USDA cut further its output estimate next month.''
Corn for July delivery rose as much as 13.25 cents, or 2 percent, to $6.865 a bushel in after-hours trading on the Chicago Board of Trade and was at $6.835 at 11:59 a.m. in London. The new crop December contract climbed as high as to $7.12 after closing above $7 yesterday for the first time.
Shrinking Stockpiles
Estimated U.S. inventories of 673 million bushels before the 2009 harvest, down 53 percent from a year earlier, would represent 5.4 percent of expected annual consumption, or 20 days of use. That's down from 40 days estimated this year and the lowest since 1996 when reserves were projected to last 18 days.
The government cut its yield forecast for corn by 3.2 percent to 148.9 bushels an acre, from 153.9 predicted last month and 151.1 for last year's crop. The reduction reflects ``persistent heavy rainfall across the Corn Belt,'' the USDA said. The crop will be harvested by November.
About 60 percent of the corn crop in the U.S., the largest exporter of the grain, was in good or excellent condition as of June 8, down from 63 percent a week earlier, and 77 percent a year earlier, the USDA said June 9 in a report. An estimated 89 percent of the corn crop had emerged from the ground as of June 8, compared with 98 percent a year ago and the five-year average of 89 percent, the USDA said.
Soybeans Gain
Rainfall across the Midwest was as much as four times normal during the past 60 days, National Weather Service data showed. Midwest fields had as much as 12 inches (30 centimeters) of rain in the past week, it showed. Some areas may get another five inches in the next four days.
Soybeans for July delivery added as much as 22 cents, or 1.5 percent, to $14.685 a bushel, and last traded at $14.63. The contract rose 7.4 percent this month, on track for the third straight monthly gain.
Soybean inventories on Aug. 31 are expected to be 125 million bushels, down from last month's forecast of 145 million and a record 574 million last year, the USDA said. Reserves on Aug. 31, 2009, are expected to be 175 million bushels, down from 185 million forecast last month even with the USDA predicting a 20 percent jump in U.S. production.
China's soybean imports, the world's largest, rose 20 percent to 13.7 million metric tons in the first five months of the year, the customs office said today, citing preliminary data.
EU Corn
Wheat for July delivery was up 8 cents, or 1 percent, at $8 a bushel after gaining 2.6 percent yesterday on speculation that record corn prices may force livestock producers to use more feed wheat.
Still, wheat futures are down 41 percent from a record $13.495 on Feb. 27 as farmers increased seeding of the grain.
``Movements in the corn market are likely to have a growing influence on wheat prices over the second half of 2008,'' Rabobank Group said today in a report.
The European Union almost trebled corn imports in the 2007- 08 season to 13.7 million tons, exceeding forecasts, the French National Crops Office said today.
Milling wheat for November delivery on Euronext in Paris rose 6.25 euros, or 3.3 percent, to 198.50 euros ($308) a ton.
Rice for July delivery rose 53 cents, or 2.7 percent, to $19.95 per 100 pounds after dropping by the daily limit of 50 cents yesterday. Rice is up 82 percent from a year earlier, reaching a record $25.07 on April 24, after some exporters curbed exports to ensure local supplies.
To contact the reporter on this story: Jae Hur in Singapore at jhur1@bloomberg.net
Last Updated: June 11, 2008 08:10 EDT
Tuesday, June 10, 2008
Monday, June 9, 2008
NY Fed chief urges global bank framework
Banks and investment banks whose health is crucial to the global financial system should operate under a unified regulatory framework with "appropriate requirements for capital and liquidity", according to Timothy Geithner, president of the Federal Reserve Bank of New York.
Writing in Monday's Financial Times, Mr Geithner, a key US policymaker throughout the credit crisis and one of the main architects of the rescue of Bear Stearns, says that the US Federal Reserve should play a "central role" in the new regulatory framework, working closely with supervisors in the US and round the world.
http://www.ft.com/cms/s/0/546b1604-3585-11dd-998d-0000779fd2ac.html?nclick_check=1
Saturday, June 7, 2008
US Citizens banned from French Banks
From UrbanSurvival:
Trouble Ahead? Bank on it!
An email from a reader got my attention:
Hi George, reading your site on daily basis; thanks for the common sense and the unfiltered info. Here's my question: recently I was in Europe and I tried opening an account in a European bank (in Paris to be exact), the manager looked straight into my eyes and said that they have a directive from high above not to open accounts for US citizens and actually they have asked every us citizen who has an account with them to leave the bank (banks name is ***), very disappointed I created a havoc about discrimination, human rights etc (with bankers? what was I thinking?), then I lectured my wife (she's French) about the freedoms in our country and rotten values in Europe; a week later I'm in LA in my bank (Bank of ******) where my friend is the manager and he told me that they've just asked all euro pen citizens to clear the bank; plain and simple, to take their money and get lost; what do you thing is going on? something is in works.
Yes. It's warring currencies! What have we been telling you? $139 oil is just the start! First we hy6perinflate and then we collapse. Quite simple. The monetarists mantra "Crack-up Boom" comes to mind, eh? For recent pointers, instead of going to Europe, next time try Argentina or still, Zimbabwe where the currency has become unusable. You see, that's the beauty of digidollars. Just slide the decimal point and keep on printing....
Tuesday, June 3, 2008
Southern California buy one house get a second one free
http://latimesblogs.latimes.com/laland/2008/06/in-escondido-bu.html
In Escondido: Buy one (house), get one free.
In a sign of how difficult it is to sell new homes in Southern California right now, a San Diego developer is offering a "buy one, get one free" deal, pairing million-dollar homes with less expensive homes.
"We thought, 'Why does it just have to be on Pop Tarts and restaurants? Why not buy one home, get one free,'" Dawn Berry of Michael Crews Development told 10 News in San Diego.
More: "Michael Crews Development is offering new, 2000-square foot cityscape row-homes worth $400,000 in Escondido for free -- if you buy one Royal View Estate home in San Pasqual Valley starting at $1.6 million. 'You know it's a straight-up legit deal; no prices have been increased, there are no hidden costs. Michael is just giving away a free home for people that buy at Royal View,' said Berry."
"Adam Rossman of Michael Crews Development added, 'People have been coming in saying, 'How can you do this?' Well, it's our way of dealing with current market conditions to move some inventory.' "
Your thoughts? Comments? E-mail story tips to peter.viles@latimes.com
Photo Credit: Michael Crews Development
Does that make me an idiot that I don’t know about mortgages and banks?
She says she didn't know better and the money-men took advantage of her naivety and ignorance.
"Does that make me an idiot that I don't know about mortgages and banks? That's what you have those for." http://news.bbc.co.uk/2/hi/business/7431310.stm
"It would be disastrous when I sit down and look at the numbers. I'm hesitant to sit down and do it."
Thursday, May 29, 2008
shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel
Two bank economists argue in a report released Tuesday that because of higher fuel costs, shipping a standard 40-foot container from Shanghai to the east coast of North America now costs $8,000 (U.S.), up from $3,000 in 2000 when oil was just $20 a barrel."... http://crudeawakeningaustin.blogspot.com/2008/05/from-reportonbusiness.html
Tuesday, May 27, 2008
U.S. home prices dropped at the sharpest rate in two decades during the first quarter
PRICES DROP MOST IN 20 YEARS
NEW YORK - U.S. home prices dropped at the sharpest rate in two decades during the first quarter, a closely watched index showed Tuesday, a somber indication that the housing slump continues to deepen.
Friday, May 23, 2008
Blame Wall Street for $135 Oil on Wrong-Way Betting
http://www.bloomberg.com/apps/news?pid=20601109&sid=aNpbEqWbUwok&refer=home
May 22 (Bloomberg) -- Oil's rally to a record above $135 a barrel came as traders bought crude to cover wrong-way bets that prices would decline, according to data from the New York Mercantile Exchange.
The number of outstanding futures contracts, known as open interest, fell 8.1 percent in a week to 1.36 million at the same time that prices rose 2.6 percent, the data show. Falling open interest and rising prices are signs that traders are buying to exit so-called short positions that would profit if oil fell, and lose money as they rose.
Thursday, May 22, 2008
Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization
"Expert Advisors Based on Popular Trading Systems and Alchemy of Trading Robot Optimization"
This article dwells on implementation algorithm of simplest trading systems. The article will be useful for beginning traders and EA writers.
Wednesday, May 21, 2008
We need to get prices under control.... We can only conclude that the oil markets have failed
"We need to get prices under control.... We can only conclude that the oil markets have failed," said Sen. Herbert Kohl, D-Wis. http://news.yahoo.com/s/ap/20080521/ap_on_go_co/oil_congress
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