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.

Association of the p53 Codon 72 Polymorphism with Colorectal Cancer in South West of Iran

The p53 tumor suppressor gene plays two important roles in genomic stability: blocking cell proliferation after DNA damage until it has been repaired, and starting apoptosis if the damage is too critical. Codon 72 exon4 polymorphism (Arg72Pro) of the P53 gene has been implicated in cancer risk. Various studies have been done to investigate the status of p53 at codon 72 for arginine (Arg) and proline (Pro) alleles in different populations and also the association of this codon 72 polymorphism with various tumors. Our objective was to investigate the possible association between P53 Arg72Pro polymorphism and susceptibility to colorectal cancer among Isfahan and Chaharmahal Va Bakhtiari (a part of south west of Iran) population. We investigated the status of p53 at codon 72 for Arg/Arg, Arg/Pro and Pro/Pro allele polymorphisms in blood samples from 145 colorectal cancer patients and 140 controls by Nested-PCR of p53 exon 4 and digestion with BstUI restriction enzyme and the DNA fragments were then resolved by electrophoresis in 2% agarose gel. The Pro allele was 279 bp, while the Arg allele was restricted into two fragments of 160 and 119 bp. Among the 145 colorectal cancer cases 49 cases (33.79%) were homozygous for the Arg72 allele (Arg/Arg), 18 cases (12.41%) were homozygous for the Pro72 allele (Pro/Pro) and 78 cases (53.8%) found in heterozygous (Arg/Pro). In conclusion, it can be said that p53Arg/Arg genotype may be correlated with possible increased risk of this kind of cancers in south west of Iran.

Effect of Real Wastewater on Biotransformation of 17α-ethynylestradiol by Ammonia-Oxidizing Bacteria in Nitrifying Activated Sludge

17α-ethynylestradiol (EE2) is a synthetic estrogen used as a key ingredient in an oral contraceptives pill. EE2 is an endocrine disrupting compound, high in estrogenic potency. Although EE2 exhibits low degree of biodegradability with common microorganisms in wastewater treatment plants (WWTPs), this compound can be biotransformed by ammonia-oxidizing bacteria (AOB) via a co-metabolism mechanism in WWTPs. This study aimed to investigate the effect of real wastewater on biotransformation of EE2 by AOB. A preliminary experiment on the effect of nitrite and pH levels on abiotic transformation of EE2 suggested that the abiotic transformation occurred at only pH

Adaptive Car Safety System

Car accident is one of the major causes of death in many countries. Many researchers have attempted to design and develop techniques to increase car safety in the past recent years. In spite of all the efforts, it is still challenging to design a system adaptive to the driver rather than the automotive characteristics. In this paper, the adaptive car safety system is explained which attempts to find a balance.

An Efficient Method of Shot Cut Detection

In this paper we present a method of abrupt cut detection with a novel logic of frames- comparison. Actual frame is compared with its motion estimated prediction instead of comparison with successive frame. Four different similarity metrics were employed to estimate the resemblance of compared frames. Obtained results were evaluated by standard used measures of test accuracy and compared with existing approach. Based on the results, we claim the proposed method is more effective and Pearson correlation coefficient obtained the best results among chosen similarity metrics.

Local Image Descriptor using VQ-SIFT for Image Retrieval

In this paper, we present local image descriptor using VQ-SIFT for more effective and efficient image retrieval. Instead of SIFT's weighted orientation histograms, we apply vector quantization (VQ) histogram as an alternate representation for SIFT features. Experimental results show that SIFT features using VQ-based local descriptors can achieve better image retrieval accuracy than the conventional algorithm while the computational cost is significantly reduced.

Towards Finite Element Modeling of the Accoustics of Human Head

In this paper, a new formulation for acoustics coupled with linear elasticity is presented. The primary objective of the work is to develop a three dimensional hp adaptive finite element method code destinated for modeling of acoustics of human head. The code will have numerous applications e.g. in designing hearing protection devices for individuals working in high noise environments. The presented work is in the preliminary stage. The variational formulation has been implemented and tested on a sequence of meshes with concentric multi-layer spheres, with material data representing the tissue (the brain), skull and the air. Thus, an efficient solver for coupled elasticity/acoustics problems has been developed, and tested on high contrast material data representing the human head.

Simulation of Series Compensated Transmission Lines Protected with Mov

In this paper the behavior of fixed series compensated extra high voltage transmission lines during faults is simulated. Many over-voltage protection schemes for series capacitors are limited in terms of size and performance, and are easily affected by environmental conditions. While the need for more compact and environmentally robust equipment is required. use of series capacitors for compensating part of the inductive reactance of long transmission lines increases the power transmission capacity. Emphasis is given on the impact of modern capacitor protection techniques (MOV protection). The simulation study is performed using MATLAB/SIMULINK®and results are given for a three phase and a single phase to ground fault.

SPH Method used for Flow Predictions at a Turgo Impulse Turbine: Comparison with Fluent

This work is an attempt to use the standard Smoothed Particle Hydrodynamics methodology for the simulation of the complex unsteady, free-surface flow in a rotating Turgo impulse water turbine. A comparison of two different geometries was conducted. The SPH method due to its mesh-less nature is capable of capturing the flow features appearing in the turbine, without diffusion at the water/air interface. Furthermore results are compared with a commercial CFD package (Fluent®) and the SPH algorithm proves to be capable of providing similar results, in much less time than the mesh based CFD program. A parametric study was also performed regarding the turbine inlet angle.

Assessment of Risk of Ground Water Resources for the Emergency Supply in Relation to Their Contamination by Metals

The contamination of 15 ground water resources of a selected region earmarked for the emergency supply of population has been monitored. The resources have been selected on the basis of previous assessment of natural conditions and the exploitation of territory in their surroundings and infiltration area. Two resources out of 15 have been excluded from further exploitation, because they have not met some of the 72 assessed hygienic indicators of extended analysis. The remaining 13 resources have been the subject of health risk analysis in relation to the contamination by arsenic, lead, cadmium, mercury, nickel and manganese. The risk analysis proved that all 13 resources meet health standards with regard to the above mentioned purposefully selected elements and may thus be included into crisis plans. Water quality of ground resources may be assessed in the same way with regard to other contaminants.

Methods of Estimating the Equilibrium Real Effective Exchange Rate (REER)

There are many debates now regarding undervalued and overvalued currencies currently traded on the world financial market. This paper contributes to these debates from a theoretical point of view. We present the three most commonly used methods of estimating the equilibrium real effective exchange rate (REER): macroeconomic balance approach, external sustainability approach and equilibrium real effective exchange rate approach in the reduced form. Moreover, we discuss key concepts of the calculation of the real exchange rate (RER) based on applied explanatory variables: nominal exchange rates, terms of trade and tradable and non-tradable goods. Last but not least, we discuss the three main driving forces behind real exchange rates movements which include terms of trade, relative productivity growth and the interest rate differential.

Fuzzy Controlled Hydraulic Excavator with Model Parameter Uncertainty

The hydraulic actuated excavator, being a non-linear mobile machine, encounters many uncertainties. There are uncertainties in the hydraulic system in addition to the uncertain nature of the load. The simulation results obtained in this study show that there is a need for intelligent control of such machines and in particular interval type-2 fuzzy controller is most suitable for minimizing the position error of a typical excavator-s bucket under load variations. We consider the model parameter uncertainties such as hydraulic fluid leakage and friction. These are uncertainties which also depend up on the temperature and alter bulk modulus and viscosity of the hydraulic fluid. Such uncertainties together with the load variations cause chattering of the bucket position. The interval type-2 fuzzy controller effectively eliminates the chattering and manages to control the end-effecter (bucket) position with positional error in the order of few millimeters.

Demand and Price Evolution Forecasting as Tools for Facilitating the RoadMapping Process of the Photonic Component Industry

The photonic component industry is a highly innovative industry with a large value chain. In order to ensure the growth of the industry much effort must be devoted to road mapping activities. In such activities demand and price evolution forecasting tools can prove quite useful in order to help in the roadmap refinement and update process. This paper attempts to provide useful guidelines in roadmapping of optical components and considers two models based on diffusion theory and the extended learning curve for demand and price evolution forecasting.

Integrating Agents and Computational Intelligence Techniques in E-learning Environments

In this contribution a newly developed elearning environment is presented, which incorporates Intelligent Agents and Computational Intelligence Techniques. The new e-learning environment is constituted by three parts, the E-learning platform Front-End, the Student Questioner Reasoning and the Student Model Agent. These parts are distributed geographically in dispersed computer servers, with main focus on the design and development of these subsystems through the use of new and emerging technologies. These parts are interconnected in an interoperable way, using web services for the integration of the subsystems, in order to enhance the user modelling procedure and achieve the goals of the learning process.

Radioactivity of the Agricultural Soil in Northern Province of Serbia, Vojvodina

During the year 1999, Serbia (ex Yugoslavia) and their northern province, Vojvodina, has been bombarded. Because of that general public believe is that this region was contaminated by depleted uranium and that there is a potential contaminant of agricultural products due to soil radioactivity. This paper presents the repeated analysis of agricultural soil samples in Vojvodina. The same investigation was carried out during the year 2001, and it was concluded that, based on the gamma-spectrometric analysis of 50 soil samples taken from the region of Vojvodina, there haven-t been registered any increase of radioactivity that could endanger the food production. We continue with the monitoring of this region. The comparison between those two sets of results is presented.

Effects of Discharge Fan on the Drying Efficiency in Flat-bed type Dryer

The study of interaction among the grain, moisture, and the surrounding space (air) is key to understanding the graindrying process. In Iran, rice (mostly Indica type) is dried by flat bed type dryer until the final MC reaches to 6 to 8%. The experiments were conducted to examine the effect of application of discharge fan with different heights of paddy on the drying efficiency. Experiments were designed based on two different configurations of the drying methods; with and without discharge fan with three different heights of paddy including; 5, 10, and 15 cm. The humid heated air will be going out immediately by the suction of discharge fan. The drying time is established upon the average final MC to achieve about 8%. To save energy and reduce the drying time, the distribution of temperature between layers should be fast and uniform with minimum difference; otherwise the difference of MC gradient between layers will be high and will induce grain breakage. The difference of final MC between layers in the two methods was 48-73%. The steady state of temperature between the two methods has saved time in the range of 10-20%, and the efficiency of temperature distribution increased 17-26% by the use of discharge fan.

A First Course in Numerical Methods with “Mathematica“

In the present paper some recommendations for the use of software package “Mathematica" in a basic numerical analysis course are presented. The methods which are covered in the course include solution of systems of linear equations, nonlinear equations and systems of nonlinear equations, numerical integration, interpolation and solution of ordinary differential equations. A set of individual assignments developed for the course covering all the topics is discussed in detail.

Histological Structure of the Thyroid Gland in Duck: A Light and Electron Microscopic Study

The present investigation aimed to study the histomorphometric characterizations of the thyroid gland of the duck. Five adult male and five adult female ducks were used in the experiment. Results showed that the overall histological structure of the thyroid gland of the duck were similar to those of the other vertebrae. The gland consisted of roughly spherical randomly distributed micro and macrofollicles with very little interstitial tissue between them. Each follicle is lined by a single layer of epithelial cells enclosing a cavity, the follicular cavity, which is filled with colloid. Ultrastructural findings showed that the apical surface of the follicular cells bears a variable number of short, irregularly distributed microvilli which are apparently more numerous on the columnar cells than on the lower, relatively inactive cells. Mitochondria and rough endoplasmic reticulum occupy the subnuclear region of the follicular cell, whereas the Golgi complex, free ribosomes and colloid droplets were found in the apical cytoplasm. At light or electron microscopic levels, there was no sex difference in histomorphometric characteristics of the thyroid glands.ls.

Experimental and Numerical Study of the Effect of Lateral Wind on the Feeder Airship

Feeder is one of the airships of the Multibody Advanced Airship for Transport (MAAT) system, under development within the EU FP7 project. MAAT is based on a modular concept composed of two different parts that have the possibility to join; respectively they are the so-called Cruiser and Feeder, designed on the lighter than air principle. Feeder, also named ATEN (Airship Transport Elevator Network), is the smaller one which joins the bigger one, Cruiser, also named PTAH (Photovoltaic modular Transport Airship for High altitude),envisaged to happen at 15km altitude. During the MAAT design phase, the aerodynamic studies of the both airships and their interactions are analyzed. The objective of these studies is to understand the aerodynamic behavior of all the preselected configurations, as an important element in the overall MAAT system design. The most of these configurations are only simulated by CFD, while the most feasible one is experimentally analyzed in order to validate and thrust the CFD predictions. This paper presents the numerical and experimental investigation of the Feeder “conical like" shape configuration. The experiments are focused on the aerodynamic force coefficients and the pressure distribution over the Feeder outer surface, while the numerical simulation cover also the analysis of the velocity and pressure distribution. Finally, the wind tunnel experiment is compared with its CFD model in order to validate such specific simulations with respective experiments and to better understand the difference between the wind tunnel and in-flight circumstances.

Accurate Time Domain Method for Simulation of Microstructured Electromagnetic and Photonic Structures

A time-domain numerical model within the framework of transmission line modeling (TLM) is developed to simulate electromagnetic pulse propagation inside multiple microcavities forming photonic crystal (PhC) structures. The model developed is quite general and is capable of simulating complex electromagnetic problems accurately. The field quantities can be mapped onto a passive electrical circuit equivalent what ensures that TLM is provably stable and conservative at a local level. Furthermore, the circuit representation allows a high level of hybridization of TLM with other techniques and lumped circuit models of components and devices. A photonic crystal structure formed by rods (or blocks) of high-permittivity dieletric material embedded in a low-dielectric background medium is simulated as an example. The model developed gives vital spatio-temporal information about the signal, and also gives spectral information over a wide frequency range in a single run. The model has wide applications in microwave communication systems, optical waveguides and electromagnetic materials simulations.