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,With 28% of exports related to the petroleum industry, the country's export performance is largely dependent on the price of oil and favorable regional tailwinds.In regards to the past year, the decline in the price of oil has been beneficial for consumers as the drop in prices helps support consumer purchasing power; however, from an export perspective, the decline has been negative.I expect that in the short term, as the price remains low, the export accounts related to the petroleum industry will experience headwinds that could limit trade growth, but in the longer term, I am confident that trade will continue to be a major component of Indonesia's economic growth.
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,In terms of tai chi, this translates into the most powerful and aggressive force.When coupled with the creativity associated with heaven, it becomes the epitome of intelligently applied force.This is the trigram of roll back, the complement to ward off.True to theory, rollback is denoted by three broken lines.Rather than seeking to confront, this move indicates a retreat.It is signified by two broken lines with a solid line between.Its complement, push, symbolized by fire, is found in the east.Mountain is located in the northwest.Its movement is the shoulder stroke.Lake, its complement, is in the southeast.
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,The second quarter of 2015 did not disappoint either.For the six months ended June 30, 2015, the company had operating income of $152.4 million and interest expense of $54.4 million for an interest coverage ratio of 2.8x.The company has had a banner year so far, with increasing margins and impressive year-over-year increases in adjusted EBITDA.The organic growth projects currently underway are slated to add significant annual adjusted EBITDA, and the company has established a healthy record of distribution payments to its shareholders.When oil prices begin rising again, Calumet's margins will certainly be affected.
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,Interestingly, there was a major sell-off in NWBO shares on October 16.This time around though, the company immediately issued a statement that there was no fundamental reason to explain the sell-off.Woodford bought nearly 5.5 million shares of NWBO at $5.50 per share.In my Real Trade Alert Service, I had noted that NWBO was ripe for a short squeeze and any positive news related to the DCVax-L trial will spark a rally.Well NWBO shares did rally last week but it was due to the Woodford funding.I believe that with the Woodford funding, NWBO has sorted out a near-term concern.The company now has sufficient cash to fund its operations at least until early next year.
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,Let's look at monetary policy first.Ben Bernanke has provided an unprecedented amount of monetary support since the onset of the financial crisis in 2008.His first Quantitative Easing efforts were much welcomed and needed by the market and the economy.However, each successive program has been less effective and it has reached the point where they are preventing the market and the economy to returning to a normal equilibrium.I believe the Fed chairman's heart is in the right place, but his lack of non-academic background makes him naive on two fronts.First, the chairman misread how his efforts would play out with the banks and with companies.
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