The California Recall effort was soundly defeated in a landslide victory for Governor Gavin Newsom with the “No Recall” vote getting close to a 30 point percentage lead.
The election was so lopsided that it was able to be called less than 45 minutes after the polls closed.
The speed and level of defeat makes it clear that this was a clear waste of time and resources from the start.
The election cost California $250 million to confirm what everyone already knew- California is a solid blue State.
Republicans hoped that the Dems would be apathetic or not aware of the election this year and not participate- those hopes were dashed when Newsom and Dems flooded the airwaves and social media with information about the election and what was at stake.
The GOP front runner Larry Elder along with many other Republican hopefuls campaigned on the following: Ending mask and vaccine mandates, abolishing the minimum wage , removing protections against gender and race discrimination, etc…
Prior to the election the GOP were once again claiming “election fraud” despite no votes having been counted yet. On Larry Elder’s website , there was a page stating that fraud was the reason he lost BEFORE the election. The GOP is degenerating into a cult that will only accept an election as legitimate if they win. This is clearly bad and a growing danger to democracy.
The landslide victory to keep Newsom is a solid confirmation and mandate that voters approve of the Covid mandate protections in place.
It sounds funny when you see a headline like this, but I have to be honest- if I experienced a major earthquake followed by surreal bright color flashes of light illuminating the sky and it didn’t appear to be from electrical transformer short circuits, I could see thinking along the supernatural lines as well.
Fortunately, it’s wasn’t the signal that the “end of the world” was upon us, but a natural but rare phenomenon called “Earthquake lights”.
California has a recall election this month on Sept 14 to determine if Governor Gavin Newsom should remain in office.
Why the recall? Republicans see this as an opportunity to replace a Dem governor to exploit all the problems caused by the State being placed on restrictions last year due to Covid such as only essential stores being open and requiring face masks to be worn when indoors in public areas.
California was the first state to make to call to place stay at home restrictions last year which no doubt saved lives as it slowed the spread of the virus. All states followed with imposing some type of restrictions over the next several weeks and months.
Of course not all were in favor of restrictions, and most of them were Republicans who appeared to be ready to place lives at risk for the sake of commerce not taking a hit.
Even with the stores open, there was also resistance by some to the mask wearing mandate requiring masks to enter businesses.
For the most part Democrats were mostly okay with the restrictions while Republicans mostly opposed them.
California has a “recall” option in government where if one can get 1 million valid signatures, a recall election can be initiated to determine the fate of the current Governor.
The recall option has a serious flaw in that while the choice to recall the Governor requires a majority vote of over 50% to succeed, the vote for the replacement only requires a plurality- meaning only the greatest vote count regardless of percentage of votes which could be well under 50%. There are nearly 50 candidates on the ballot so a person could win with only 10% – 15% of the total vote or even less with the votes spread between so many candidates. This is clearly anti democratic.
Current polls show the “for/against” vote to be close and that Dems are supposedly disengaged for what’s happening and less likely to vote, presenting an opportunity for Republicans to get a win.
Polls during the last few elections have been far less accurate than they have been in the past, so I put little credence in them.
Democrats outnumber Republicans by over 2 to 1 in California, so the only way the recall succeeds if is Dems decide to not vote. If that happens it will be an unforced error by Dems and a reflection of poor responsibility to make sure their vote is counted.
Gavin Newsom being recalled points to a disaster in the making as most Reps running would end all mask mandates and restrictions. That would make California like the red States that are currently being overwhelmed by the Delta Variant of Covid. Florida is breaking records for hospitalizations due to their lax measures.
I believe Cali Dems will pass the test and the recall effort will be voted down.
A group of children and their parents were attending a show where they would see an alligator be fed by its trainer. Well, things stated going south when the alligator started acting aggressively with the trainer. The trainer pushed the alligator back, and things went from bad to worse when the alligator unexpectedly bit onto the trainer’s hand and started pulling her into the pool of water.
The trainer has no choice but to follow the alligator in to keep her arm and prevent the alligator from twisting it off doing a belly roll. She tries grabbing onto the alligator, but the alligator starts doing belly rolls and they both start spinning in the water.
The woman is clearly in trouble and parents start clearing the area with their kids. Mind you, kids are watching all this go down!
A hero dad and good Samaritan in the group of parents calls for help and asks the trainer how he can assist.
This is a good reminder that we need to respect wild animals and give them all due caution.
In life there are many straight forward logical paths that people intentionally ignore/dismiss because they are seen as not as “exciting” as the path they prefer to take.
On example is lessons for building up wealth over time versus “get rich quick” strategies involving riskier routes that have the possibility (however slight) of a faster big payoff without needing to put in any prolonged time and effort.
No one likes to wait. We all prefer to look for shortcuts to obtaining what we want. This of course includes those wanting to learn how to trade.
There are many advertisements that make dubious claims of offering products or services that will shorten the trading learning curve while offering no real verifiable historical or current proof that their information is legitimate, and yet many do good business selling to folks looking to save time and pain.
The painful reality is one is most likely going to have to figure things out for themselves if they truly want to succeed in trading if they don’t have a relative/friend who knows how to trade and is willing to teach them.
So having embraced that reality, there is a path that will cost the least amount of money in the quest for learning to trade and spare you from paying “tuition costs” of blown up accounts that can run into tens of thousands of bucks over time.
The best path is as follows:
Open a real-time paper trading account along with a real money account. You can use a brokerage that offers both services or select them independently.
Use your analysis to construct a trading system model that satisfies and shows the following:
Trend of the market
Profit zone or target
Stop Price to exit early if trade moves against you. Should not be too far from entry zone to limit loss.
3. Once you have your initial model, test away on the paper-trading account. At the end of each day, compare your model to actual market movement. If not profitable, make adjustments to the model as determined by further analysis and continue to test in paper trading account.
4. If your model generates a profit for at least a 2 week run on the paper trading account. Try it out on the real account. If model works, fine. If it doesn’t work and you are stopped out two or three times, go back to the paper trading account to make changes to fix the issues, and wait for at least two weeks of successful trading on the paper account before trying it on the real account. Continue this cycle until you come up with a model that works on the real account.
The above is the ideal method as it will limit your real money losses while you’re working on building an accurate trading model. It is also a very slow and painstaking process and the vast majority of those wanting to trade will avoid it like the plague and just jump to real money accounts because they feel the most excitement there to make make “real” money. In reality, most will just wind up losing more “real” money.
Some people will complain that the paper trading account doesn’t feel the same because real money isn’t on the line. This can be true in that part of the trading process is dealing with fear of loss as well as greed. However, if you’re putting in your entry price, target price and stop loss price in advance according to your model, then you shouldn’t have an issue as the trade is running on automatic at that point- it will either close at your target price or you will get stopped out and all you need to do is exercise self control to not jump in and alter the trade in progress.
One can also inject “fear” into paper trading. If you only allow yourself to trade on the real account if you have majority successful days on the paper trading account during let’s say a two week period, that means you can’t have more than 4 losing days during that period of at least one trade per day. Having four or more losing days means you have to trade the paper account at least another weak until you get a two week stretch with majority profit days. You now have fear of loss in your paper system as you really want to be trading the live account.
The above route will be the least financially painful and allow you get started in placing trades right away with no risk, but the lure or diving right in and trying to beat the odds by making money right away will be irresistible to the majority.
At at time when we are flooded with crisis after crisis with dark news forecasts becoming the norm, it’s refreshing to see people rising above their own concerns and interests and being willing to put themselves in dangerous situations to help those in serious trouble.
There have been two incidents in New York this month where someone as fallen off a station platform onto the tracks below when there was an approaching train nearing the station.
On both occasions some good Samaritans stepped up when it was needed to prevent tragedy and turn things around.
It’s a good reminder that the world isn’t fully consumed by dark and selfish people or forces.
Whenever I see a super overweight cat, I feel bad since it’s clear the cat is being overfed by the owners. Some cats will eat all the food that they receive no matter how much they get. Those type of cats need to have their owners give them reduced portions typical for a normal sized cat so they don’t overeat.
Cats are restricted in their movements when they are obese and it can lead to more health problems down the road.
In this case, an obese cat was adopted by owners who helped the cat drop the pounds and get restored to a much more healthy level.
I’ve read many articles and comments about “starting minimums” required for trading, and was amazed to see such high number requirements stated- ranging from around $50,000 on the low side to over $250,000 on the high side of the scale.
Beginning traders are highly likely to make lots of mistakes and lose money and combining that aspect with a large money account is a recipe for disaster. You don’t have to search hard to find stories about traders that lost tons of money in a short time in a series of bad trades. The last thing a starting traders needs is making it possible to lose tens of thousands of dollars.
Strictly speaking, before one actually starts putting real money at risk in trades, it’s best to start on a sim/paper trade account.
Sim accounts have greatly evolved and most are identical to real money accounts in operation. The trading style and plan should be tested on the sim to verify its success/profitability over time. If it checks out, then the next step is using a real account. If having trouble on a real account, go back to the sim account and repeat the process.
So how much do you need? Since starting traders should not be considering making use of leverage over mastering their trading techniques and emotions, the desired amount should be enough to get up to 200 shares of a stock or 2 futures contracts. A critical mistake starting traders make is buying too many shares/contracts, having the market move against them, then adding to their position increasing their leverage and risk even more.
Best way to start is the initial trade should be no more than 1 contract or 100 shares, then you have the option to add to the position if it traces back to an ideal entry point.
If you KNOW you are only getting no more than 2 contracts or 200 shares, you will focus more on getting in at a good entry point. It will also prevent you from blowing up your account by over leveraging.
Since stocks have a minimum $25K account requirement to allow active trading, the futures market provides a far lower cost of entry as there are no government mandated minimums. Your calculated amount in futures would be how much is needed to open a position of up to 2 contracts with also enough to handle some losing trades. If you choose to only get 1 contract, the amount required will be even lower.