Technical Trading Rules in Emerging Stock Markets

Literature reveals that many investors rely on technical trading rules when making investment decisions. If stock markets are efficient, one cannot achieve superior results by using these trading rules. However, if market inefficiencies are present, profitable opportunities may arise. The aim of this study is to investigate the effectiveness of technical trading rules in 34 emerging stock markets. The performance of the rules is evaluated by utilizing White-s Reality Check and the Superior Predictive Ability test of Hansen, along with an adjustment for transaction costs. These tests are able to evaluate whether the best model performs better than a buy-and-hold benchmark. Further, they provide an answer to data snooping problems, which is essential to obtain unbiased outcomes. Based on our results we conclude that technical trading rules are not able to outperform a naïve buy-and-hold benchmark on a consistent basis. However, we do find significant trading rule profits in 4 of the 34 investigated markets. We also present evidence that technical analysis is more profitable in crisis situations. Nevertheless, this result is relatively weak.

Fracture Location Characterizations of Dissimilar Friction Stir Welds

This paper reports the tensile fracture location characterizations of dissimilar friction stir welds between 5754 aluminium alloy and C11000 copper. The welds were produced using three shoulder diameter tools; namely, 15, 18 and 25 mm by varying the process parameters. The rotational speeds considered were 600, 950 and 1200 rpm while the feed rates employed were 50, 150 and 300 mm/min to represent the low, medium and high settings respectively. The tensile fracture locations were evaluated using the optical microscope to identify the fracture locations and were characterized. It was observed that 70% of the tensile samples failed in the Thermo Mechanically Affected Zone (TMAZ) of copper at the weld joints. Further evaluation of the fracture surfaces of the pulled tensile samples revealed that welds with low Ultimate Tensile Strength either have defects or intermetallics present at their joint interfaces.

The Influence of using Compost Leachate on Soil Reaction

In the area where the high quality water is not available, unconventional water sources are used to irrigate. Household leachate is one of the sources which are used in dry and semi dry areas in order to water the barer trees and plants. It meets the plants needs and also has some effects on the soil, but at the same time it might cause some problems as well. This study in order to evaluate the effect of using Compost leachate on the density of soil iron in form of a statistical pattern called ''Split Plot'' by using two main treatments, one subsidiary treatment and three repetitions of the pattern in a three month period. The main N treatments include: irrigation using well water as a blank treatments and the main I treatments include: irrigation using leachate and well water concurrently. Some subsidiary treatments were DI (Drop Irrigation) and SDI (Sub Drop Irrigation). Then in the established plots, 36 biannual pine and cypress shrubs were randomly grown. Two months later the treatment begins. The results revealed that there was a significant variation between the main treatment and the instance regarding pH decline in the soil which was related to the amount of leachate injected into the soil. After some time and using leachate the pH level fell, as much as 0.46 and also increased due to the great amounts of leachate. The underneath drop irrigation ends in better results than sub drop irrigation since it keeps the soil texture fixed.

Perturbed-Chain Statistical Association Fluid Theory (PC-SAFT) Parameters for Propane, Ethylene, and Hydrogen under Supercritical Conditions

Perturbed-Chain Statistical Association Fluid Theory (PC-SAFT) equation of state (EOS) is a modified SAFT EOS with three pure component specific parameters: segment number (m), diameter (σ) and energy (ε). These PC-SAFT parameters need to be determined for each component under the conditions of interest by fitting experimental data, such as vapor pressure, density or heat capacity. PC-SAFT parameters for propane, ethylene and hydrogen in supercritical region were successfully estimated by fitting experimental density data available in literature. The regressed PCSAFT parameters were compared with the literature values by means of estimating pure component density and calculating average absolute deviation between the estimated and experimental density values. PC-SAFT parameters available in literature especially for ethylene and hydrogen estimated density in supercritical region reasonably well. However, the regressed PC-SAFT parameters performed better in supercritical region than the PC-SAFT parameters from literature.

On the Operation Mechanism and Device Modeling of AlGaN/GaN High Electron Mobility Transistors (HEMTs)

In this work, the physical based device model of AlGaN/GaN high electron mobility transistors (HEMTs) has been established and the corresponding device operation behavior has been investigated also by using Sentaurus TCAD from Synopsys. Advanced AlGaN/GaN hetero-structures with GaN cap layer and AlN spacer have been considered and the GaN cap layer and AlN spacer are found taking important roles on the gate leakage blocking and off-state breakdown voltage enhancement.

Stability Optimization of Functionally Graded Pipes Conveying Fluid

This paper presents an exact analytical model for optimizing stability of thin-walled, composite, functionally graded pipes conveying fluid. The critical flow velocity at which divergence occurs is maximized for a specified total structural mass in order to ensure the economic feasibility of the attained optimum designs. The composition of the material of construction is optimized by defining the spatial distribution of volume fractions of the material constituents using piecewise variations along the pipe length. The major aim is to tailor the material distribution in the axial direction so as to avoid the occurrence of divergence instability without the penalty of increasing structural mass. Three types of boundary conditions have been examined; namely, Hinged-Hinged, Clamped- Hinged and Clamped-Clamped pipelines. The resulting optimization problem has been formulated as a nonlinear mathematical programming problem solved by invoking the MatLab optimization toolbox routines, which implement constrained function minimization routine named “fmincon" interacting with the associated eigenvalue problem routines. In fact, the proposed mathematical models have succeeded in maximizing the critical flow velocity without mass penalty and producing efficient and economic designs having enhanced stability characteristics as compared with the baseline designs.

Molecular Epidemiology and Genotyping of Bovine Viral Diarrhea Virus in Xinjiang Uygur Autonomous Region of China

As part of national epidemiological survey on bovine viral diarrhea virus (BVDV), a total of 274 dejecta samples were collected from 14 cattle farms in 8 areas of Xinjiang Uygur Autonomous Region in northwestern China. Total RNA was extracted from each sample, and 5--untranslated region (UTR) of BVDV genome was amplified by using two-step reverse transcriptase-polymerase chain reaction (RT-PCR). The PCR products were subsequently sequenced to study the genetic variations of BVDV in these areas. Among the 274 samples, 33 samples were found virus-positive. According to sequence analysis of the PCR products, the 33 samples could be arranged into 16 groups. All the sequences, however, were highly conserved with BVDV Osloss strains. The virus possessed theses sequences belonged to BVDV-1b subtype by phylogenetic analysis. Based on these data, we established a typing tree for BVDV in these areas. Our results suggested that BVDV-1b was a predominant subgenotype in northwestern China and no correlation between the genetic and geographical distances could be observed above the farm level.

Study of the Glucidic Fraction of Celtis Australis L, Crataegus Azarolus L, Crataegus Monogyna Jacq., Elaeagnus Angustifolia L. and Zizyphus Lotus L. Fruits

In Algeria, some fruit trees produce fruits in free nature. Such trees are Celtis australis, Crataegus azarolus, Crataegus monogyna and Zizyphus lotus. In spite of their appreciable consumption, their nutritional value remains unknown. The objective of this study is the determination of sugars in the pulpe and almond of the above fruits. The biochemical analysis shows that these fruits present interesting contents of soluble sugars which confers significant caloric intakes to them. As well as significant fibres which give them therapeutic and industrial benefits? The analysis of the almonds shows that it contains considerable contents of sugars which enable them to be an energetic food.

On the Construction of m-Sequences via Primitive Polynomials with a Fast Identification Method

The paper provides an in-depth tutorial of mathematical construction of maximal length sequences (m-sequences) via primitive polynomials and how to map the same when implemented in shift registers. It is equally important to check whether a polynomial is primitive or not so as to get proper m-sequences. A fast method to identify primitive polynomials over binary fields is proposed where the complexity is considerably less in comparison with the standard procedures for the same purpose.

From Forbidden States to Linear Constraints

This paper deals with the problem of constructing constraints in non safe Petri Nets and then reducing the number of the constructed constraints. In a system, assigning some linear constraints to forbidden states is possible. Enforcing these constraints on the system prevents it from entering these states. But there is no a systematic method for assigning constraints to forbidden states in non safe Petri Nets. In this paper a useful method is proposed for constructing constraints in non safe Petri Nets. But when the number of these constraints is large enforcing them on the system may complicate the Petri Net model. So, another method is proposed for reducing the number of constructed constraints.

Rapid Urbanization and the Challenge of SustainableUrban Development in Palestinian Cities

Palestinian cities face the challenges of land scarcity, high population growth rates, rapid urbanization, uneven development and territorial fragmentation. Due to geopolitical constrains and the absence of an effective Palestinian planning institution, urban development in Palestinian cities has not followed any discernable planning scheme. This has led to a number of internal contradictions in the structure of cities, and adversely affected land use, the provision of urban services, and the quality of the living environment. This paper explores these challenges, and the potential that exists for introducing a more sustainable urban development pattern in Palestinian cities. It assesses alternative development approaches with a particular focus on sustainable development, promoting ecodevelopment imperatives, limiting random urbanization, and meeting present and future challenges, including fulfilling the needs of the people and conserving the scarce land and limited natural resources. This paper concludes by offering conceptual proposals and guidelines for promoting sustainable physical development in Palestinian cities.

Application of GM (1, 1) Model Group Based on Recursive Solution in China's Energy Demand Forecasting

To learn about China-s future energy demand, this paper first proposed GM(1,1) model group based on recursive solutions of parameters estimation, setting up a general solving-algorithm of the model group. This method avoided the problems occurred on the past researches that remodeling, loss of information and large amount of calculation. This paper established respectively all-data-GM(1,1), metabolic GM(1,1) and new information GM (1,1)model according to the historical data of energy consumption in China in the year 2005-2010 and the added data of 2011, then modeling, simulating and comparison of accuracies we got the optimal models and to predict. Results showed that the total energy demand of China will be 37.2221 billion tons of equivalent coal in 2012 and 39.7973 billion tons of equivalent coal in 2013, which are as the same as the overall planning of energy demand in The 12th Five-Year Plan.

Using Secure-Image Mechanism to Protect Mobile Agent Against Malicious Hosts

The usage of internet is rapidly increasing and the usage of mobile agent technology in internet environment has a great demand. The security issue one of main obstacles that restrict the mobile agent technology to spread. This paper proposes Secure-Image Mechanism (SIM) as a new mechanism to protect mobile agents against malicious hosts. . SIM aims to protect mobile agent by using the symmetric encryption and hash function in cryptography science. This mechanism can prevent the eavesdropping and alteration attacks. It assists the mobile agents to continue their journey normally incase attacks occurred.

En-Face Optical Coherence Tomography and Fluorescence in Evaluation of Orthodontic Interfaces

Bonding has become a routine procedure in several dental specialties – from prosthodontics to conservative dentistry and even orthodontics. In many of these fields it is important to be able to investigate the bonded interfaces to assess their quality. All currently employed investigative methods are invasive, meaning that samples are destroyed in the testing procedure and cannot be used again. We have investigated the interface between human enamel and bonded ceramic brackets non-invasively, introducing a combination of new investigative methods – optical coherence tomography (OCT), fluorescence OCT and confocal microscopy (CM). Brackets were conventionally bonded on conditioned buccal surfaces of teeth. The bonding was assessed using these methods. Three dimensional reconstructions of the detected material defects were developed using manual and semi-automatic segmentation. The results clearly prove that OCT, fluorescence OCT and CM are useful in orthodontic bonding investigations.

Characterization of Acetogenic and Methanogenic Leachates Generated from a Sanitary Landfill Site

Decomposition processes take place in landfill generate leachates that can be categorized mainly of acetogenic and methanogenic in nature. BOD:COD ratio computed in this study for a landfill site over a 3 years duration revealed as a good indicator to identify acetogenic leachate from methanogenic leachate. Correlation relationships to predict pollutant level taking into consideration of climatic condition are derived.

A New Distribution Network Reconfiguration Approach using a Tree Model

Power loss reduction is one of the main targets in power industry and so in this paper, the problem of finding the optimal configuration of a radial distribution system for loss reduction is considered. Optimal reconfiguration involves the selection of the best set of branches to be opened ,one each from each loop, for reducing resistive line losses , and reliving overloads on feeders by shifting the load to adjacent feeders. However ,since there are many candidate switching combinations in the system ,the feeder reconfiguration is a complicated problem. In this paper a new approach is proposed based on a simple optimum loss calculation by determining optimal trees of the given network. From graph theory a distribution network can be represented with a graph that consists a set of nodes and branches. In fact this problem can be viewed as a problem of determining an optimal tree of the graph which simultaneously ensure radial structure of each candidate topology .In this method the refined genetic algorithm is also set up and some improvements of algorithm are made on chromosome coding. In this paper an implementation of the algorithm presented by [7] is applied by modifying in load flow program and a comparison of this method with the proposed method is employed. In [7] an algorithm is proposed that the choice of the switches to be opened is based on simple heuristic rules. This algorithm reduce the number of load flow runs and also reduce the switching combinations to a fewer number and gives the optimum solution. To demonstrate the validity of these methods computer simulations with PSAT and MATLAB programs are carried out on 33-bus test system. The results show that the performance of the proposed method is better than [7] method and also other methods.

Optimization of Distribution Network Configuration for Loss Reduction Using Artificial Bee Colony Algorithm

Network reconfiguration in distribution system is realized by changing the status of sectionalizing switches to reduce the power loss in the system. This paper presents a new method which applies an artificial bee colony algorithm (ABC) for determining the sectionalizing switch to be operated in order to solve the distribution system loss minimization problem. The ABC algorithm is a new population based metaheuristic approach inspired by intelligent foraging behavior of honeybee swarm. The advantage of ABC algorithm is that it does not require external parameters such as cross over rate and mutation rate as in case of genetic algorithm and differential evolution and it is hard to determine these parameters in prior. The other advantage is that the global search ability in the algorithm is implemented by introducing neighborhood source production mechanism which is a similar to mutation process. To demonstrate the validity of the proposed algorithm, computer simulations are carried out on 14, 33, and 119-bus systems and compared with different approaches available in the literature. The proposed method has outperformed the other methods in terms of the quality of solution and computational efficiency.

Application of Biogas Technology in Turkey

The potential, opportunities and drawbacks of biogas technology use in Turkey are evaluated in this paper. Turkey is dependent on foreign sources of energy. Therefore, use of biogas technology would provide a safe way of waste disposal and recovery of renewable energy, particularly from a sustainable domestic source, which is less unlikely to be influenced by international price or political fluctuations. Use of biogas technology would especially meet the cooking, heating and electricity demand in rural areas and protect the environment, additionally creating new job opportunities and improving social-economical conditions.

Photogrammetric Survey on the Natural Gas Pipeline Projects of Iran-Turkey- Europe (ITE)

The ITE Project is a project that has 1800 km length and across the Turkey's land through east to west. The project of pipeline enters geographically from Iran to Doğubayazit (Turkey) in the east, exits to Greece from Ipsala province of Turkey in the west. This project is the one of the international projects in such scale that provides the natural gas of Iran and Caspian Sea through the European continent. In this investigation, some information will be given about the methods used to verify the direction of the pipeline and the technical properties of the results obtained. The cost of project itself entirely depends on the direction of the pipeline which would be as short as possible and the specifications of the land cover. Production standards of 1/2000 scaled digital orthophoto and vectoral maps as a results of the use of map production materials and methods (such as high resolution satellite images, and digital aerial images captured from digital aerial cameras), will also be given in this report. According to Turkish national map production standards, TM ((Transversal Mercator, 3 degree) projection is used for large scale map and UTM (Universal Transversal Mercator, 6 degree) is used for small scale map production standards. Some information is also given about the projection used in the ITE natural gas pipeline project.

A Group Based Fuzzy MCDM for Selecting Knowledge Portal System

Despite of many scholars and practitioners recognize the knowledge management implementation in an organizations but insufficient attention has been paid by researchers to select suitable knowledge portal system (KPS) selection. This study develops a Multi Criteria Decision making model based on the fuzzy VIKOR approach to help organizations in selecting KPS. The suitable portal is the critical influential factors on the success of knowledge management (KM) implementation in an organization.