Archive | December, 2012

Pentagon To “Temporarily” Fire 800,000 If No Cliff Deal

31 Dec

Fiscal CliffFrom the WSJ: “Mandatory federal spending cuts designed to be prohibitively drastic will become a reality on Wednesday if negotiators remain unable to reach an agreement to avert the reductions. Illustrating the gravity of the cuts, the Pentagon plans to notify 800,000 civilian employees that they could be forced to take several weeks of unpaid leave in 2013 if a deal isn’t struck, and other agencies are likely to follow suit. The cuts, which members of both parties have referred to as a “meat ax,” are the product of a hastily designed 2011 law that required $110 billion in annual spending reductions over nine years to reduce the deficit. Their severity, representing close to 10% of annually appropriated spending, was intended to force Democrats and Republicans to come together on a broader package of deficit-reduction measures, which would replace the cuts. That effort failed, raising the prospect of the cuts’ taking place.”

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Asian nations giving enthusiastic welcome to 2013

31 Dec

CANBERRA, Australia (AP) — Fiscal cliff? Recession? Not in Asia, where the first countries to see 2013 dawn will enthusiastically welcome the new year.fireworks

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Exit Strategy

30 Dec

Forex Exit Strategies

Traders often discuss entry strategies but rarely do they talk about how or when to exit a trade.  The exit strategy is without doubt one of the most crucial components of any trading system. This post gives a very basic overview, covering a range of exit strategies, for those who have little previous exposure to this area.   I will start off by showing some of the various forex exit strategies that are utilised by technical traders and follow this with chart examples to run-through a simple exit scenario in action.

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The Psychology of Market Cycles

28 Dec

Market Cycle

Congressional leaders to meet with President Obama tomorrow

28 Dec

Fiscal CliffBarack Obama will meet congressional leaders on Friday as members of the House of Representatives prepare to return to Washington for a last-ditch attempt to head off the year-end fiscal cliff budget crisis.

Republican speaker John Boehner said the House will reconvene on Sunday evening, with less than 30 hours until the US reaches the fiscal cliff deadline. Boehner warned politicians they may be working through next Friday – after the 31 December deadline – to reach a deal to avert massive tax hikes and spending cuts

With five days to reach a political solution, Nevada senator Reid said the deadline would probably be missed. “It looks like that’s where we’re headed”, he said on the Senate floor on Thursday. “The American people are waiting for the ball to drop, but it’s not going to be a good drop.”

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