Thank you, Lee, and welcome, everybody, to Outlook 2016. We'll be focusing on investment in agriculture over the next couple of days and the role of investment in underpinning future growth. And I think we'll be addressing some of the issues that were at the heart of the minister's comments this morning. We know improving productivity will be critical to the success of agriculture on world markets, and that's going to require investment, both on-farm and off-farm. We also know that there are increasingly diverse sources of capital and financing models available to agriculture, and that they're providing new opportunities for the sector. And to help explore some of those themes, we have a great lineup of domestic and international speakers, including bankers, institutional investors, and analysts, as well as producers from across the sector. What I want to do this morning is a bit of scene-setting for that discussion. I'll try to put some context around the scale and sources of investment in Australian agriculture and consider whether the corporate sector, in particular, is likely to become a more significant source of capital for Australian farms and whether that's likely to have implications for the traditional family farm. But firstly, I'll run through a medium-term outlook for commodities, which takes us out to 2020-21. Now, the details of the outlook are in the agricultural commodities publication that you would have received this morning, and they're going to be discussed by our analysts at sessions today and tomorrow. Economic growth is a key assumption that underpins the outlook, and we're forecasting a slow recovery in world growth over the medium term from 3.1% last year. That was the lowest level of growth since 2009. We expect a gradual strengthening to around 3.7% by 2019, and then coming back a little to about 3.5% by 2021. Lower oil prices will continue to support the global economy in the short term. On the upside, they have positive impacts on household demand and on business costs, but they're also straining the fiscal positions of some oil exporters and reducing investment in oil and gas extraction. In OECD countries, we're expecting that growth in the US will continue to strengthen in the short term, mainly on the back of consumer spending and some investment in housing and business. There's some support for growth in Europe from the lower value of the euro and accommodating monetary policy, as well as some export growth that's underpinned so far by demand from the US. In Japan, conditions remain weak. Growth last year was well under 1%. We expect that to increase a little, partly because of the fiscal stimulus package that comes into play this year, and also because the lower yen will increase demand for Japan's exports over the medium term. China will remain a driver of world economic growth over our outlook period, but we're assuming that growth will slow to less than 6% over the medium term. Even at that level, the absolute increase in demand in China is sufficient to drive output in other economies, and that will be especially important in the emerging economies of Asia. But downside risks in China around equity markets, the potential devaluation of the currency, and the ongoing economic reform program do add an element of fragility to the overall global outlook. In terms of the exchange rate, we assume the dollar will average 71 cents in 2015-16. It's been 72 cents up to this point, and that compares with an average of 84 cents last year, and it's been driven down largely by the terms of trade decline that's reflected weaker prices for energy and minerals commodities on world markets. We're assuming that the dollar will average about 71 cents again in 16-17, probably dipping below that in the early part of the year, and then start to strengthen slowly over the medium term to average around 74 cents by 2020-21. That's still below the 30-year average of 76 cents, and it's well below the 10-year average of around 89 cents. And it's that assumption about a slow appreciation that will have implications for the value of our commodity exports over the medium term. We're expecting the value of agricultural production to increase in 15-16 to about $59 billion. That compares with about $54 billion in 14-15. It's a positive story for crops. We've had increases in the volume of production on the back of good seasonal conditions in most areas, and that's offset falling prices because of generally abundant world supplies. And for livestock, high prices have offset a fall in the volume of production, as herd numbers have contracted over the past few years. We're expecting a similar value of agricultural production overall in real terms in 2016-17 if seasonal conditions remain favourable. The weaker dollar has increased average export prices in Australian dollar terms across the board, and we're forecasting a rise in farm export earnings to more than $45 billion in 15-16, and that compares with about $43.5 last year. Most of that increase in export earnings has come about because of the depreciation of the dollar. We're then forecasting export earnings to remain at around $45 billion in real terms in 16-17 as the assumed exchange rate effect weakens, and there's some softening in international prices. Some of the specific commodity movements we see over the next year are increases in the value of dairy products and sugar because of higher export volumes and higher world prices as demand firms. Export earnings for wool are also expected to increase as a result of limited growth in global supplies and moderate growth in demand. Lower export value is a forecast for beef following a decline in the national herd that's affected the volumes available for export, but prices are expected to remain high because of strong international demand and the relatively weak Australian dollar, and it's much the same story for lamb. In the case of wheat, we're forecasting a similar value of exports as higher volumes largely offset lower world prices. As we look further ahead to 2021, we expect that the value of crop exports will be stable as higher volumes largely offset lower world prices. Short of significant drought or other unforeseeable impacts on production, we expect that world supplies will be plentiful, and that will put some downward pressure on crop prices over the medium term. And our forecast for the value of livestock exports is also for similar levels. Increasing turnoff as the herd expands and more competition in export markets is also likely to put some downward pressure on prices. On top of that, we're assuming that the exchange rate support that's boosted export earnings recently is unlikely to continue, and we're forecasting the real value of exports to remain relatively flat over the medium term. So as I said, speakers in our commodity sessions this afternoon and tomorrow are going to expand on those forecasts and look at some of the issues that will drive production and exports out to 2021. Now I want to look very quickly at farm performance and the current story is largely positive. Farm cash incomes at the national level are estimated to be the highest for more than 20 years at almost $180,000 a farm, and that's been quite a broadly spread geographically. Grains incomes have increased to a more than 20 year high because of increased winter crop production in most states, except Victoria, and higher prices for pulses and oil seeds. Beef industry incomes also rose sharply in 15, 16, they're double their 10 year average, and that's because of the increase in sale yard prices. Part of the increase in incomes in the beef sector has been achieved through reduction in the cattle herd as turn off increase to take advantage of those high prices. The reduction in the herd may have implications, of course, for incomes next year as herd rebuilding reduces the availability of cattle for sale. Dare is the only sector where farm incomes are projected to decline at the national level in 15, 16, and that's because of reductions in farm gate milk prices and slightly lower production in most states, and that's been compounded by increased expenditure on fodder in states where seasonal conditions have been poor. Looking at the medium term, there are a number of issues, domestic and international, that are going to have an impact on the commodity outlook and the prosperity of agriculture, and one of those might be water availability. Over the past few years, there've been reduced inflows to the Murray-Darling Basin and declining storage levels. As you can see here, water prices have increased substantially over the past 12 months. Even with average seasonal conditions over the next few years, we're unlikely to see storages increase significantly, and that will maintain pressure on water prices. There's been enormous change in the MDB recently with progress on water reform, including the implementation of the Basin plan and the development of the water market. We've seen significant shifts in the irrigation sector with expansion of some crops such as tree nuts and contraction of others such as grapes. To some extent, the relatively high storage volume since 2011 have masked the full effect of these changes, but the recent rise in prices is a reminder that managing our water resources effectively to balance environmental, economic, and social objectives remains as important as ever, and that's an issue that will be discussed in the water session tomorrow. Another issue that will affect commodity outlook is the international competition landscape, and that's changed positively as a result of the recent free trade agreements and the market access arrangements that we've negotiated, and we'll see the benefits of those flowing through for some time. But on the other hand, we're seeing potentially accelerated competition coming from other exporters into some of our key markets, and that includes a competition from Latin America. Brazil's a good example. Between 2000 and 2014, the value of Brazil's beef exports rose by about a factor of six, and that compares with about two and a half times for Australia. For Brazil, that's been the result of significant investment in the beef industry to reduce costs and boost productivity, as well as successful market access negotiations, including with China and the EU. Argentina's also likely to expand its exports to world markets following significant policy changes by the new government. Export taxes have been removed on grains and beef, quantitative restrictions on grains exports have been lifted, and the exchange rates depreciated by about 25% since the currency was floated. If those measures meet their objectives to stimulate investment in the sector and expand export growth, then competition in some of our export markets is likely to intensify. We've been working in A-Bears on Latin American supply issues over the past year, and Jamie Penn's going to be presenting the results of that in the global agriculture session tomorrow. If we're going to benefit from increasing global food demand, these issues highlight the need to keep our focus on improving productivity and expanding production to maintain our international presence over the medium to longer term. And to come back to our theme, that's going to require increased investment. We can expand production from existing land through productivity gains, or we can expand the land that's being farmed, for example, in the North, and all the development that that would entail. By investment in this context, I mean net increases in productive assets on the farm, for example, through the purchase of new machinery or breeding livestock or the development of land. I'm not speaking about purchases of additional land here as they simply transfer ownership without adding to the asset base. And I'm also not speaking about investment off the farm in infrastructure or processing or other parts of the supply chain. And the scale of investment on farm is significant. More than $2 billion is added on average every year to the assets of the farm sector. This shows the average investment by broadacre and dairy farms over the past 25 years. It's closely related to profitability, and it's also highly correlated with the size of the farm. Large farms, or those that have receipts of a million dollars or more, are making the majority of investments. These farms account for about 10% of the farm population, and they contribute around 50% of total investment. Although there's no hard data, we're seeing reports of an increasing number of transactions in Australia by corporate investors, private equity firms, funds managers, sovereign wealth funds. And that's led to debate about the future of the traditional family farm. But information from our farm survey shows that the sources of investment in Australian agriculture have been very stable over a long period. Around 60 to 70% of investment has been provided directly by the owners of family farms. Debt fundings accounted for about 14%, and the remaining roughly 20% is other forms of equity. We can't break that equity category down any further, but it includes investment by family members other than the owner and their spouse, and through company structures that are used by the family farm. If you remove those, it means that investment by the genuinely corporate sector is significantly less than the 20% included in that category. And the relatively constant share of those categories over time suggests there's been little transfer of farm assets from families to corporate investors, despite all the reports of corporate acquisitions. Suggest instead that farms have mostly been traded between corporate entities rather than from families to corporates. Increasing corporate investment in agriculture has the potential to bring some significant advantages. Their threshold investment levels tends to be high and investment is focused on large farms where we know that rates of return are better on average. Their access to capital can increase the capacity to invest in technology to drive productivity, and their capital backers are sometimes willing to take risks that family farms can't afford. And that can be important in the establishment of new industries or new regions. Cotton's a past example of that, and development of Northern Australia might be another. The corporate sector can provide new operating models. For example, the greater reliance on hired labour and leased land can provide easier access to farming for a younger generation. Aggregation of farmland by corporates could also provide an exit strategy for older farmers or help in succession planning. And there's often a focus on skills development to take advantage of technology on farms and to build better business practices. So a reasonable question might be why aren't we seeing more corporate activity? And the answer might lie in the rates of return being achieved by corporate investment in agriculture. In general, operating returns for the best-performing farms have been relatively stable over the past 20 years. Capital growth's been more volatile, but total returns have been quite strong. Last year, we showed that returns to investment in commercial scale farm businesses in Australia were competitive with investments in other asset classes and that they were commensurate with their risk profile. Returns vary by sector and by region, but there's also a difference in performance between family farms and the corporates. If you're looking at broad acre and dairy, except in the case of beef, family farm structures have outperformed the corporate sector in terms of operating returns, and that's especially the case in cropping. The beef results probably reflect the greater exposure of corporate farms to Northern Australia, where the average farm is much larger than in the South. And those differences between family farms and corporates are similar in Canada and the US. It's not just an Australian story. It's been this way for a long time, and it's one of the main reasons that family farms continue to dominate agricultural industries around the world. And it's the reason that we don't expect to see corporate agriculture transform the family farm model in Australia any time soon. For the corporates, there's probably something to think about why these rates of return are lower than family farms. It may be that the incentives for managers of farms to contain costs, invest in productivity improvements and manage risks aren't as sharp as they are for owners with direct equity in their farms. And overheads are probably lower for family farms. They don't tend to run large offices or maintain investor relations to the same extent. They can defer wage costs when returns are low, and they probably have lower staff turnover and recruitment costs. And some corporate investors may have longer-term objectives, such as food security, in the case of sovereign wealth funds, that reduce the imperative to maximize their short-term returns. And we'll hear more in the next session this morning about the strategies that different types of corporate investors are taking to manage their exposure to Australian agriculture. I've only touched on a couple of issues that will drive the outlook for agriculture. There are obviously many others, both within and beyond the control of farm businesses. The immediate outlook is reasonably stable, but the medium to longer-term will require a focus on improving productivity to grow our position in world markets in the face of increasing competition. Capturing the benefits of innovation will be critical, as will ensuring efficiency along the whole supply chain, managing our natural resource base sustainably, and maintaining the resilience of our farm businesses and communities as they manage multiple risks. These are just some of the topics that will be on the table today and tomorrow, so I hope you have the time to consider them and enjoy the discussions they'll generate. Thank you, and welcome again to Outlook 2016. Thank you.


Bonjour et bienvenue, this is Lama Delist and today we are all about pattern drafting for the menswear bodice block and sleeve blocks so get your materials ready and let's dive in. These are the required measurements for the basic menswear. I've prepared a chart and calculation cheat sheets on Canva and please do check it out at the description box. Chest circumference. Place a tape around the widest part of the chest. Natural waist circumference. Place a tape around the smallest part of the torso between the chest and the hip. Hip circumference. Place a tape around the widest part of the buttocks and keep it parallel to the floor. Waste the hip. Place the tape vertically from the waist until the hip level. Front waist length. Place a tape at the base of the front neck then measure down to the waist level. Back waist length. Place a tape at the nape, base of the back neck then measure down to the natural waist level. Neck base is circumference. Place a tape around the neck and insert the finger for ease. Across back weave. Measure from point to point where the crease is formed by the armpit. Across front weave. Measure from point to point where the crease is formed by the armpit. Shoulder length. Place a tape from the high point of the shoulder until the shoulder tip. Sleeve length. Measure from the shoulder tip towards and over the elbow and towards the wrist with the arm hanging naturally but slightly bent. Wrist and hands circumference. Measure around the wrist joints where the bone protrudes. Measure around the widest part of the hand. Arm hull side depth. This measurement is taken from where the bicep is touching the underarm side seam. To do this, ask your model to place three fingers at the armpit and from the bottom finger trace a horizontal mark towards the center back. And these are the measurements needed to draft the menswear block or sloper. Four menswear chart and calculations. Again, please check the description box for the Kenville link.


The following is a presentation of TFNN. The Trader's Edge with Steve Rhodes. Toll free at 1-877-927-6648 or internationally at<PHONE_NUMBER>. The Trader's Edge. Now, Steve Rhodes. Good afternoon from TFNN. Welcome to the May 23rd. The terrific Thursday edition of today's Trader's Edge show. I'm your host, Steve Perseverance Rhodes, who absolutely knows that each of us should always be pioneers of our future versus prisoners of our past. Hope everyone out there is having a great day. Let's make sure we have an extraordinary one. And of course, the easiest way to do that is to always remember that life is happening for us, not to us. That's right, when you and I make that one little two-by-four shift, it means we can find the gift. In every set of circumstance, that life is going to toss at us. Today, you and I, we get to go check on the circumstance of these markets. We get to go figure out what the bulls and the bears, what the buyers and the sellers are communicating to you and I just passed one o'clock in the afternoon. I want you to know that I'm absolutely grateful for your presence here, but most importantly, during this next hour, I'm here to serve you. So feel free to pick up that phone. We'd love to hear from you. You can dial on in at<PHONE_NUMBER>. If you can't dial in, we've got you covered there, too. Just let those fingers do the walking. Send me an email, Steve at tfn.com. Inside the subject heading, please put radio show question and in the tiger's den, well, any ping, we'll do. So let's go ahead and get this show started on terrific Thursday. Of course, this is Tiger Financial News Network. I'm Steve Rhodes. Welcome to less show. Right now, the Dow trading down 415 points. That's one in six tenths percent, printing out at 25361. The S&P off one in six tenths percent, 45 points. Trading out at 2810, Nasdaq 100 off nearly 2%, 144 points. Russell off nearly 2% or 30 bucks. Semi's down two and a half percent. So it's mean and red across the board, meaning green. When we take a look at that spot volatility index, trading up 20.54%. You know the drill. You know the drill. Come the end of the day, do not ignore the drill. Come the end of the day if the spot volatility index is trading above a one day rate of change of greater than 10%. You've got gold up 10 bucks. Speaking of tens, Silver's up 13 pennies. Light speed crewed back 376. Lead in the charge to the upside. It is universal Corp. Up $7 or 13% UVVs. The ticker symbol, Mercado Libre up five. Co-part is up four, six percent. Our Genix is up three bucks. Two and a half percent to the downside. Amazon off 48. Chipotle down 41. That's only 6%, 9 out of 67,000 shares to the downside. Booking off 37. Google 18, AutoZone 17. So things to look at, but we are going to look at what you guys want to look at. The first request coming in from Mike M. Mike M. in Sarasota says, please look at the gold contract and royal gold. When we get to the gold contract, that will be for Peter as well who wants to take a look at it. But Mike's question goes on to say, well first let's pull up royal gold. Got those symbols already in here. RGLD, you can see it's trading out at 86.59 right now. And Mike goes on to say royal gold. Please look at royal gold for targets as the TAS daily point of control was 84.19. 84.14 was the top of the box. Never saw the top of the daily box. So that's where it was. By the way, the point of control on the daily time frame, left hand panel of the chart for those of you watching, if you look at that little data box, you'll see that the center is at 81.52, which is the point of control that Mike is referring to and the bottom at 81.52. Just tells you strong support. Resistance was the top at 84.14. Price is broken through that. Mike is looking for a price target to the upside. So Mike, that becomes pretty easy because when we take a look at our market profiles or at least the first target that it would provide to you is going to be the bottom of the weekly profile. And that's 87.83. We're at 86.61 out here as we speak right now. So nothing else from a profile standpoint that suggests anything different. 87.83. Now, let's stick with the weekly chart as we go over to Stevie's other charts out here and tools just to see what it signals to you and I because that's a TAS profile. I don't have the TAS profiles on this weekly chart here. I purposely do that. So I don't know why I purposely do that. I just do. But here, Mike, the level that you're looking for as possible resistance, bottom of the weekly, we looked at that. We're looking at Stevie's green line. Now, it's priced at 87.68. That number is going to change up or down over the next several sessions or what have you. But that too is resistance. Now, closing up of Stevie's green line, 87.68, closing back into side the box of the weekly profile, 87.83 would be very promising. Promising to what? Well, Mike, here's, let's just stick with the weekly chart is the one providing the best signals. And I'm assuming at this stage here, because you've asked several times, you're actually in this trade out here. If price breaks above that, well, we know what price did here on a weekly basis inside Royal Gold. We know that when it made its most recent top, I did it with that TD setup nine count. We do always recognize that the high or low, in this case here, the high can come up bars eight, nine, or the bar following bar nine, that little bearish and gulping session. That was the day that was the high. It drove price down to where? To support. It drove it down to support basically to the T, to the tick almost, and support being the breakout area. That red horizontal line, yes, I refer to it as support, but the reality is it's really the breakout area. So the breakout area held, prices moving higher. Your really next target, assuming price can get through those two areas we looked at, is going to be where resistance was, the breakdown. And that breakdown was not to hide that shooting star the week of July 6, instead it was the week following. A lower high out there, but there you go, that's your resistance level 9318. So there you've got it. No real reason for us to look at the daily or the monthly timeframe to provide you with the information that you are looking for. Hope that helps you out. No other questions at this stage, we get to gold out there, and so Peter had asked about gold. So now let's go try to figure out Goldilocks. What do we know about gold? Well, let's put up the daily timeframe chart. Let's go ahead and put up our profiles. Let's go ahead and punch them in. We're looking at the June contract for gold. We're going to take a look at the daily and the weekly. Gold is at this stage of the game, sticking its head back above the daily profile. It had been trading below the bottom of that box, 1281. A close above, we'll say 128380, which is the point of control which suggests that price is ready to make a run for the top of that box at 1300.30. That's what the daily timeframe chart is suggesting to UNI. Do we have any other calls or signals? I'm just searching around out here. Yes, we do. We most certainly do. What is that other signal? Well, that other signal is PS date resistance. When we take a look at resistance out here, that number is clear as a bell. That's 1292. That's on a weekly basis. That is on a closing basis also. Where's gold likely? Headed to, as long as it stays above 128380, you've got the number. 1300.30 or 1292, even Stephen. That's really where price needs to close above on a weekly basis in order for that TD9 count on the weekly to really call it a bottom. 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We'll be back with more of the new TFNNN.com educating investors. Call now. Toll free at 1-877-927-6648. Internationally at<PHONE_NUMBER>. Stow's off for 24 S&P 46. Ian writes in and asks the question, is the S&P a good buy now with a 2800 stop? The S&P is trading at 2809. So let's try to answer that question for Ian. Ian Miller. No, I know that's not your last name out there, but that's from my big bat Greek wedding and it just happens to be a movie that I love for many reasons out here. But let's get back to the Ian's question. First, Ian, let's take a quick peek at the equity futures contracts and try to understand where price is trading in relation to support. Now, here in the case of support, we're using our daily and weekly profiles, really daily, weekly, monthly and quarterly, and looking at the ESMini specifically, that's your question, here's what you know right now. And that is that price is trading below a key level of support. That key level of support is the daily profile. Now, it's by the hair of its chinny chin chin. Nonetheless, it is still below. 281360 is the number where it's 2809 in the June contract for the ESMini. You'd really like to see a close back above that price level if you were to take that trade. So that's what the daily timeframe chart for the ES shows. As long as we're over here looking at time at instruments, let's look and try to understand and get a general picture of the market entirely. The NQ trading below, the NQ making a lower low from last week or something, whereas the ES has not made a lower low, always something to think about. In the case of the NQ, it's made a lower low. And it's trading below the bottom of its daily profile, that number is 7342. The Dow Equity Futures contract right on the number. Pretty close. 25333 is the print right now. Bottom of the box, 25338. We'll give it the five bucks. The Russell 2000 is trading at the bottom of its consolidation area. That's 149740. Has it made a lower low, slightly above the low from the trading day of March 25th out there, something to watch, something to watch. So how do we sum this up right now? You have the Russell 2000 on a daily basis at support, bottom of the consolidation. If you're going to buy the market, where do you want to buy it? Bottom of the consolidation. Want to sell it? Where do you want to sell it? Top of the consolidation. Dow Equity Futures contract at support. ES mini, in essence, at support. NQ not there. But you know what, Ian, I know you want to ask the question, and you did ask the question about the ES mini, but when I take a look at charts like this and see things at support, yes, we can go focus on those intraday charts, and we will, but what really peaks out at me is the NQ. Because the NQ, well, maybe not so much at support. So what are the signals inside the NQ? That is what I would pose to myself as a question. So since I've posed that to myself, I'm here. Well, then why don't we go take a look at the NQ. Let's start by looking at the 30-minute timeframe out here. What's the 30-minute timeframe show us? Well, the 30-minute timeframe shows us the following things. Price is in Wave 7, letter G to the downside. By the way, the last time we saw high out here was Wave 7, letter G to the upside. Probably just a coincidence. If we take a look at what Price is doing, it's been stretching its Lonely Hearts Club band to the downside without strength to the downside. In fact, weakness to the downside. Looks like this current bar, the one that ends at 130, could be bar number 8 of a TD set up 9 count. We don't know for sure, but right now, that's what it looks like. We know that the market's instruments can make a top or bottom of bars 8, 9 or 10. So yeah, Ian, you should be paying attention to this. No bullish reversal signal out here. No signal to suggest that now is the time, but there's potential there with regard to the short-term timeframe chart for the NQ. Let us not stop there. Let us double. Let us go for double the fun out there and go to the 60-minute timeframe chart. Well, now this is a coincidence too. The coincidence is it also is in Wave 7. 30-minute was. The 60-minute is. So we pay attention. No TD set up 9 count patterns. There is an A to B equal CD. And so Ian, this is why, before we get any type of reversal, you would not step into some type of long trade, or Stevie would not be suggesting for you to do that. Do what you wish. You may be right. But here what I'd like to see is some type of confirmation from the cavalry. And knowing now I take a look at a 60-minute chart that there's an A to B equal CD to the downside, that could easily take price to 7205. It's just, it's completion level out here. I say you've got to be careful. Yes, you're in Wave 7. Below all kinds of resistance. 7310 is the current number. That's Stevie's red line. It's really acted as resistance all evening, all morning. Now the afternoon, I'd say you'd have to see a close above that in order to get your skirt in a tizzy. To the upside, so to speak. So that's a 60-minute timeframe chart. But let's not stop there. Instead, let's double it one more time. Let's go to the 120-minute timeframe chart. The two-hour chart. And if we take a look at it, what is its signals out here? I don't see a bottom. Yes, it's got that same A to B equal CD. No reason for me to have to redraw that in here. But I don't see a bottom signal on the two-hour chart. But now let's go over and take a look at the daily chart. Let's just speed things up a tad. And what's the daily timeframe chart? Because what are we looking for out here? Well, the one thing we're looking for when you get below a swing point and look, prices are below that support line. It has been below that TD setup support line. That always opens the door for the next support area. Or what I mean is the breakout level, not number 7188. So 7188 probably not too far away from that 7205 on the completed A to B equal CD pattern order. But here's the deal, Eon Miller. That is that prices started to move lower on a daily timeframe with less relative energy. Now that's just a warning shot. A warning shot to say that the NQ on a daily basis could be forming. It's next bottom. Yeah, it's next bottom. That could just simply take price up to Stevie's Greenland of 7533. Are we there yet, Ian? Everybody else? I don't see it in the NQ. We're focused on the NQ even though the question was about the ES because it's the NQ that to me is breaking through key levels of support and so we're looking to see if there's some kind of signal there. For example, if we do the same thing, come take a look at the ES meaning on a 30 minute basis, what are we going to see? I don't know. We're going to see we are now, looks like forming a TD setup nine count out there. We're at the 1 to 2.6188 to B equal CD based on a set of swing points out here. So it says, OK, stay tuned, pay attention. If you're short, be paying attention to this stuff. Adjust your stop appropriately. Let's go take a look at the six, but Ian, no signal yet to go. Take that long side of the trade. You can see here it's more clearly on the 60 minute, the 1 to 1 A to B equal CD. We do have a bullish candle right now, but this chart doesn't complete until 2pm. But if you did get it, it could be a bottom would be a bottom signal out there. That's the 60 minute timeframe. What else are we going to look at out here? Well, with about four seconds, let's pull over the daily. What's the daily chart? Tell us if it doesn't find support where support would be where the breakout would be is the March 28th low and that low out here that number that price point. Come on. Come on. Work for us, folks. Work for us. Referring to my chart. Come on. Do this. Do this while we're still on the air. Looks like I'm not going to get there, folks. Oh, here we go. 2795. That would be the ultimate support level for the Yes. I'm certain you are or strive to be one of the best of the best at everything you do in life. It's the most common trade that we tigers and tigers share. If you're looking to become the best of the best when it comes to managing your money, let me teach you to do what most wealth managers tell you can't be done, which is how to time the markets. I'm Steve Rhodes, author of Mastering Probability. And for the last 12 months, Timer Digest has been tracking my newsletter signals, which have earned me the ranking as their number one market timer in the nation for the S&P 500 for the last 12, 6, and 3 months. Timer Digest also ranks me as the number one market timer for gold as well. The fact is markets can be timed. And I'll teach you the exact set of tools that I use that is transforming me into one of the best at what I do. Sign up for Mastering Probability today by clicking on the newsletter tab on the homepage of TFNN.com and get immediate access to workshops where I take you step by step how to use an extraordinary set of tools as well as provide great market calls too. Sign up today. The path of least resistance is David White's daily trading newsletter. And if you're looking for active trading ideas, then now is a perfect time for a 30-day free trial to this powerful daily trading advisory service. David uses his years of trading experience to offer his subscribers his trading ideas each morning in his path of least resistance newsletter. Using a combination of equity trades along with options, David keeps his subscribers up to date with all pertinent market information with intraday afternoon updates when warranted. 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It automatically provides you with Gartley and Confluence areas, expansion targets, and the power law vector indicator with just the click of a mouse. The scanner searches thousands of stocks each day and delivers a list of every Gartley and Butterfly pattern it finds automatically. Just enter the promo code BOOK at checkout. This sale ends Memorial Day May 27th, so don't let it pass you by. For all the details and to save 25% and get your free book shipped today, check out The Art of Timing the Trade charts on the front page of TFNN.com. This segment is brought to you by Think or Swim. For more information, just click the Think or Swim banner on the front page of TFNN.com. Welcome back, folks. DOWS.402, so we're still taking a look at the equity markets themselves and really trying to answer, answer Ian's question out here. And so Ian, I'm just suggesting that you continue to watch the shorter term timeframe charts for the EES, the NQ, looking for a potential bottom signal there. Now, the reasons why Ian would want to do that, we already discussed, we looked at the daily timeframe charts, so three of the four were at support out there, so that's a stronger than one of the four. And what we also want to do, and Peter wanted to take a look at the New York Stock Exchange Advanced Decline Line. We can see we're at minus 150, 470, so minus one, when you get below minus 150, Peter knows the drill. What's the drill? Yes. The drill is that that is an oversold level. What's more important than the mere fact that it's an oversold level, and you should anticipate a bounce or bottom, is really the mere fact that back on the trading day of May 13th, there was a lower closing low of that Advanced Decline Oscillared Reading, which was minus 182.99. Now, we can also see here is a New York Stock Exchange is making a lower low.  And this is really, so Ian is looking to buy the bottom. And Ian, the better outcome for you today is to keep that powder dry. I don't know if this will happen, but let me give you the better outcome. Let me tell you what typically would happen. The market closes at its lows out there. Coming into the close, you've got people that say, okay, I missed the short. I'm going to go ahead and get on that short train. I'm going to buy that ticket only to get run over by that railroad, so I'm definitely suggesting you do not do that. And we get a lower low in the New York Stock Exchange price-wise on a closing basis, but we don't get that same lower low in the Advanced Decline Oscillared Reading. That alone is not going to be your signal that that's time to get long. But what you will do is then start looking at those short-term charts. Those patterns that we just took a look at. Now, again, it may not come to fruition. I don't know what the next couple of hours of trading, two and a half hours, is going to look like, but that would be your better bet. It would also be your, so you can look at the other times where we've seen that pattern. It's basically the red lines here for bottoms, green lines at the highs out here. And you're certainly on the right track. And for those of you that are perma bears, just close your ears and don't listen to this stuff and ignore these patterns that call and identify bottoms out there. So what else is it? Well, Peter knows, Peter knows that the other element associated with this is what? You can see the spot follow till the end of the day. And that's what we're going to look at. We're going to look at a little detail about the 50-day, 1535 year, 1748. Sounds like the bears or sellers ought to celebrate. However, that's really bad news for the bears. That's bad news bears. I know there's a movie out there called Bad News Bears. It really is bad news bears. Why? Because we see those one-day rates have changed greater than 10%. What do we typically see on the following session? We see some type of ES mini countertrend rally out there.  Whereas you wake up the next morning, if you've taken the trade at the end of the day and you got everything just simply nothing worked out here, you've screwed so to speak. And especially so when we're so close to support the bottom of a box or the breakout area using the TD Setup 9 cone. But let me just summarize this for everyone right now. The more bullish thing is that the market ends poorly today. The spot volatility index stays well above the 50-day and has a one-day rate of change greater than 10%. The New York Stock Exchange advance the client oscillator at a higher low while price makes a lower low. And then the whammy is the ES mini. The ES mini on its short-term timeframe charts make and confirm a bottoming pattern. You got an A to B equals CD. You've got price moving lower doing less relative energy out here. These are things that are in place right now and so it's really going to be those patterns that will generate the signal. Now that may have been the long answer but I don't know any way to give you a different answer out there.  Okay, no other questions that we've gotten to you. Pete, did I cover everything you were looking for? You wanted, I don't know, did you? I'm trying to go back here and see what you were to ask for. A-D-E-S-N-Y-S-E, yeah. Hey, we got everything up there. Okay, so who else wants to ask a question? Please. This is your time out here and your direction really helps me to kind of stay focused. So I don't know how hard it is for me to stay focused. Okay. So what are we going to look at next? That T-bonds. Let's go look at T-bonds. We don't look at them enough to go see what in the heck they're doing. Well, first here's what we know about Treasury bills. The one thing we know is the global flow of capital wants the U.S. dollar index. Now I know in breakout city out here. Breakout city. Yeah, breakout city. How do we know that? All we have to do is see how Treasury bonds are trading in their local currency because that's, let's go, went down. Oh, Skype is down. Okay. So Skype is down. Okay. We're back. So we're back. Okay. I guess we're back in here in the last 30 seconds. I don't know what I said during the last 30 seconds. So let me just start over here when we take a look at Treasury bonds. When we take a look at this chart. Thanks, Jose. Thanks, Peter. We take a look at this chart. Here's what we know by looking at it. We know that traders in their local currency, those folks sitting in London, those folks sitting in Paris, those folks sitting in Japan, we know when they look at their screens out here, we know where they're making money today. We know where they're making money today. They're making money on their portfolio of 30-year Treasuries that they hold. Whether it's the futures, whether it's a TLT, whatever it is, everything has broken out, including in US dollars, broken above a prior swing point, which was 150, 21 out here. What's happening here? What is happening here? This is how folks in euros and pounds in yen say, I want to own the US dollar. Because if they're owning these Treasuries, they're going to, when they sell them, they're getting back US dollars. Yes. This is how you get into US dollars. It's another way. You don't just look at the US dollar index and say it's trading lower at 97.71 and say nobody wants the dollar. I beg to disagree. Substantially. Substantially. So what's that mean? Where are US Treasuries headed to? Isn't that really the question out here? Well, other than saying they're headed to the moon, Alice, I think what we have to do is take a look at the quarterly. See if we can do this here quickly. Can we do it quickly? Where's the top of that quarterly box? 151. Really, where we're trading right now. 151.07. We'll be right back. The TFNN Memorial Day Tiger Dollar sale is here. From now through Memorial Day, you can get up to a 40% bonus on your Tiger Dollar purchase. Tiger Dollars never expire and can be used for any TFNN good or service. Whether you're a current subscriber looking to add instant savings or you're a new listener or viewer that is considering signing up for any product in the near future, now is a great time to get your Tiger Dollars and lock in dramatic savings for all TFNN products and services. We only have a sale like this a couple times a year, so don't let it pass you by.  Once you purchase your Tiger Dollars, you'll be able to apply them to your TFNN account and then they are automatically used for all your recurring subscriptions going forward, making it as easy as possible. 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Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV for the latest market information. Welcome back, folks. So the question that came into the den I don't know if it really poses a question, but we're going to approach it anyways. No, it actually does. So the question is, what price does silver need to exceed to tell us that this is the start of a bigger rally? Well, the first place, John, that you and I would go look at would be the daily profile for silver. I don't recall if it was yesterday or the day before. I do recall us talking about it. It must have been yesterday where we had noticed that the bar had turned the orange. Let me get rid of a couple of these lines out here. Those were swing point levels that had been previously tested. It's now rejected those levels. But there was a new profile that formed late yesterday. I didn't see it actually until we just put up this chart here today. And that new profile, again, this is one of those unique profiles where the center happens to also be at the bottom, 1440, which tells you that should be a strong level of support. Turns out that the low today was 1440. Really? Okay, so strong support is held, but resistance is also failed on a daily place. That was 1450. But John, as you can see on this chart out here, in essence, what price has done 50, so it's proven itself to you. Has it proven itself that the greater rally is underway? And then I suppose the answer there is really no, right? And the reason why I say right is because price is traded up to, towards the bottom of its weekly profile, and that's 1465. We've been up to 1464, basically. So we're a penny away. So that penny is really important to you. You really want to see gold by the end of the week, that's tomorrow, not gold, silver, close back inside the range of the weekly profile at 1465. If it does that, then I think you have your answer that the rally will continue, but just continue. Because there is further resistance that it has, certainly those profile levels, but also in the weekly basis out here, we'd also say that it's red line at 14.85 is a real key level. Just like we looked at gold and the weekly oscillator and change line, Stevie red line has contained any price advance by the end of the week. I would say that is also what you are looking at. So if you're asking me what you were about the rally in silver, it has probably spent its juice today. It's probably spent it. It's been able to get up. It's been able to take out support resistance, I should say, the top of its daily box. It's gotten up to the weekly resistance level and maybe it just needs to pull back to try to take that on. But 14.85, that would really be the so-called magic number that I would say silver needs to close above to prove to you that the longer-term rally that you're looking for would be in place. I hope that helps you out. Our next question coming in from it doesn't say. But we'll go with why. We'll go with why. Why isn't the letter of this individual's first name? It says what do you think of platinum? So let's go take a look at platinum out here. Let's try to pull the platinum chart up on our screen. And when we do that, we're looking also at the July contract. And the question goes on like this, especially when you're looking at gold and silver. Why is platinum not catching a bit? Well, now that I can't tell you. I mean, not that I can't tell you. I can't tell you because I can't tell you. I don't know the answer. It's just simply what buyers and sellers have decided to do out here. But let's still try to type something in here. That would have been wrong to do that. Let me try this. But you're absolutely right about it's not catching a bid out here. And it really does look like platinum may want lower price. Now it's below daily, below weekly why it's trading into the swing point out here. It's actually tested a swing point. Maybe it's about to catch a bid. There was a swing point from the trading week, trading day. It's daily chart, February 14, Valentine's Day. That was at $7.95, today. $7.96, $6.60 out here. Really close enough for me, but maybe not close enough. But hey, no bullish reversal candle or anything. On the daily timeframe, any other patterns that might be out here, certainly there's an A to B equal CD. So we can see that that would look like this if Steve is going to draw that in. I'm going to draw on the conservative one. So we see here it's completed the one to 1.272 today. And so why if you're looking to go ahead and make a purchase of platinum ETF futures contract, wait for a bullish reversal candle to then signal that it's okay to buy the D point. Otherwise, what I'll be looking for on a daily basis, the actual breakout or one of the breakouts inside of platinum took place on February 15th. And that low out there see if I can give you that number. That low is $7.85. That's your downside target. You don't have an upside target yet because we don't have any kind of bullish reversal signal on the daily timeframe. And we're below all profiles daily and weekly out here. If I look to the weekly timeframe charts for platinum, I don't have any good news. The news there is that price wants to pull back to September 14th, 2018. And that level is $7.7670. So that's another what $30, $33 or so to downside. So that would be an area that you could look at targeting for a potential buy as long as a bullish reversal candle doesn't come in and confirm that by the D point of that A to B equals CD to downside. But I really have no idea why traders are buying one and not the other. I don't really know. And yeah, Peter, you're right on a 60 minute basis prices right at a TD resistance level out here at $12.8740. So kudos to you. Price has not taken that area out. We don't really have the topping pattern per se other than an A to B equal CD that it did, but no bearish reversal signal doesn't mean price won't pull back, but you're absolutely right that there was a resistance level that was $12.8740 out there in the case of gold. So why I hope that helps out with regard to that. Platinum, I'd probably just be more focused on Platinum and its chart if that's what you want to trade out there. And I hope that that helps you out. So thanks for writing in. Hey, by the way, folks, before we get to the end of the show, I'm inviting you to a special engagement. It's early bird. Early bird catches the worm and tomorrow we're going to go catch a lot of worms out there because I'm going to do the show from 8am. Yes, 7am to 8am live. So it can be recorded. So you'll be listening to the show if you're just listening at the normal time between 1 and 2, but I'd love for you to join me live. I'd love for you to have some questions in the morning specifically because this way you'll see how futures are trading, how anything's trading. We'll go take a look at the chart patterns at that time. So tune in for a wonderful live version of the show tomorrow at 7. That would be 4am on the west coast there. So if that's what you're going to do, get to sleep early. For all of you folks in Australia and Asia, that's a wonderful thing because it's Friday evening, 7 o'clock. You'll be out at the Barbie, so to speak out there. But in any event you can, hey, plug us into the screens at the bar that you might be at and display at TFNN. We would like that. Let's get to Phil's question here already. Phil writes in a Steve interview. What's your outlook for HDB? HDB It's an Indian bank and so there's a bunch of gaps out here certainly because of currency conversions, but let's try to answer Phil's question. What is HDB doing? Be right back Since 1984, Basil Chapman has been using the Chapman Wave methodology to advise traders of his expert market opinion Originally hand drawing charts from the late 1970s into the 1980s, Basil noticed that prices under most circumstances virtually always had a certain number of legs to the upside before declining sharply. Later Basil found that computer software which included the standard market technical indicators enhanced the degree of accuracy in calling price turns as well as market trend calls. Thus was born the Chapman Wave sequence. Using the Chapman Wave methodology along with other indicators, Basil Chapman advises his subscribers of his expert market opinion each market day with his opening call newsletter. Right now you can get a two week free trial to the opening call Basil's daily trading newsletter by visiting the front page of TFNN.com. Cancel at any time during that trial and pay absolutely nothing. Get your two week free trial to Basil's newsletter the opening call today by visiting TFNN.com It's amazing to think that Tom O'Brien started his weekly gold report 17 years ago with the first issue published April 7th, 2002 when gold was trading at under $300 per ounce. Gold peaked at more than $1,900 in 2011 and after spending many years consolidating at lower prices, gold may be poised for its next big run. Tom O'Brien publishes his weekly gold report every Monday morning for subscribers consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, South African Rand as well as 25 different mining equities with specific buy sell recommendations. As of April 1st of this year, the gold report currently has 8 active positions with an average unrealized profit of almost 8% for each open trade. New subscribers get a 30 day money back guarantee so you have nothing to risk. For all the details and to start your gold report subscription today, visit the front page of TFNN.com.  Sign up today. You know what's cool? Taking something that's good for you. Something specifically formulated to help with weight loss, better sleep, stress reduction and the need to detox. Niko, our hunter and gatherer ancestors found all their nutritional requirements for health in their wild environment. But today our food sources no longer contain the vitamins, minerals and nutrients our bodies need to stay healthy and strong. That's why we need primal edge daily nutrition. It includes a special blend of ionic, soil based vitamins, minerals, fatty and amino acids in an easy to use liquid form. Primal edge is powered by highly concentrated folic and humic acids. Nature's preferred delivery system. They have been called miracle molecules because like sunlight, air and water, life cannot exist without them. That's right Paige, they ensure we receive all the nutrition we need to be healthy and thrive. We take it every morning. Primal edge formulated and approved by Niko and Paige of living a primal lifestyle. Buy it today for just $89. Click on the primal edge banner on the front page of TFNN.com. This is David White.  Welcome back folks. Dow's off 414 SNP 46. So back to the Indian bank HDB HDFC bank limited. And as Phil pointed out to us folks we're going to ignore the gaps on the daily time frame chart. We're going to ignore the temptation to say hey, isn't that an island top out there because of the currency conversions. It's not really appropriate to even look at those gaps and try to identify support resistance things of that sort. But in taking a look at HDB one thing we do know if we just look at market profiles this says bullish across the board. Why? It's above the top of a daily a weekly monthly and a quarterly profile out here. But we don't stop there right because what we know about market profiles is they are not leading indicators. They are great tools to help us identify levels of support or resistance that we wouldn't ordinarily see. They provide us with those boxes that allow us to understand where that point of control is. Is it in the center is it closer to the top or the bottom the proximity of that center line is very important in helping us understand the power of a breakout or a breakdown. But there's never going to be a leading indicator tool. We use it in combination with other tools so speaking of those other tools and this is what Phil was asking for what are the other tools really tell us out here. Well if we look at the daily time frame what the other tools tell us in and by the way this made a new all time high did this a couple of days ago May 21st out here. But when you make a higher high that's never the problem. The problem is when you do it with less energy and you just have to think of it like this you're kidding yourself you're kidding yourself if you're at the gym and you're doing curls and normally you know your max out I don't know you folks out there you probably curl like 60 pounds in one arm you know and you're probably doing reps of 15 but you don't want to kid yourself when you get up to that 15th one and you've got to shift your body all around you think it's hey Phil the answer is this is giving yourself signals it's as simple as that it was yesterday's bearish engulfing not today's gap to the downside looks like this one slower price probably targeting the top of the daily profile 1395 folks will see you tomorrow 7 a.m. or the archive show you'll hear from one to two have a great day take care


Hi, welcome to the presentation about section translation. My name is Amira Aroni. I'm the senior strategist in the language team of the Media Foundation. And this presentation will also be shared by me with Paul Genere, who is the designer and the product manager, and by Nick Goudas, who is one of our software developers. So we'll talk about section translation, which is a new feature, but we first need to understand why I'm doing this at all and what is the history of this feature. So language is a very simple thing in the Wikimedia movement. We have a lot of languages. We are one of the most multilingual sites online. And language is in a way, knowledge itself. That's how we communicate to each other in a lot of languages, but it can also be a gatekeeper. It can be a blocker because if knowledge is encoded in a language you don't speak and it's not translated to your language, it's not available in your language, then you don't have it. So just as a very simple example, which should be familiar to a lot of you, the English Wikipedia is the largest. It has way over six million articles. The second biggest is German. German has more than two million articles, even though much fewer people speed the German language than, for example, Indonesian. Indonesian is spoken by more people than German, but it has just over half a million articles. Bengali, which is also world's top 10 language, has even fewer than 100,000 articles. So that's a bit of a problem, which we are trying to address. And our way to address this since 2015 is a feature that many of you may have heard of, and that's content translation. Content translation is an extension for Wikipedia, which allows people to create articles by translating them from another language. So this is how content translation currently looks like on desktop computers. You see an article in the source language on one side of the screen, and then you see initially empty space for writing a new article in your language by translating this article from another language. What content translation gives you is you see both languages at once. It's convenient for translators to see and compare each paragraph. It also helps you adapt images and links and templates and categories and several things. So it's fairly successful. We have more than 900,000 articles created in all the languages. And we even think that it's quite high quality. I'm trying to be modest here. As a very simple measurement of quality, we can see that around 3% of articles created by content translations are deleted, which is compared to an average of 12% of new articles deleted if they are not created using content translation. So for a tool that creates articles, how many articles are deleted is a simple measure of quality. By this measurement, we think that we're pretty good. However, we also have some limitations. Content translation is far from perfect. So a big issue in content translation is that it only allows you currently to create complete new articles. However, it's only for the first revision of the article. Content translation currently doesn't help you very much in expanding or improving or correcting the article. And you can see that the length and the quality of articles is quite different from one language to another. This is for example, the article about the T-Rex in Hindi. Hindi is one of the biggest most spoken languages of the world. And you can see that it only has two paragraphs of text and an info box and four references. That's not much. Because info boxes, it's nice, but the English Wikipedia article, it has much, much more. The Russian Wikipedia is also much longer. So this is not enough. It would be nice to have a longer, more complete, better reference, better illustrated article in Hindi. And another big issue is that content translation is very much built for desktop and laptop computers, not so much for mobile phones. And we used to say that the future is mobile, but it's not the future. It's already the present. Already now we know that in all the languages, most of the reading is done on mobile phones. More in some languages, less in some others, but in pretty much all the languages, all the reading in Wikipedia is done on mobile phones. And that's why we need something new to support mobile phones better. And this is where I transfer to speak about the present and the future to the designer, Paul Giner. Thanks, Henry. And yes, Henry was mentioning some of the current limitations of content translation inspired the next phase of the project, which we call section translation, which is not as much a new tool, but more of an expansion of the capabilities of content translation. If we think of the initial scope of content translation being focused on desktop and being used for creating articles, with section translation, we want to expand those capabilities to support mobile for both creating and expanding articles, but also support that expansion of articles on desktop. Or initial scope. Here, the initial scope will be on expanding articles on mobile. And now we are also covering creating articles on mobile and that's what can be tested right now with the current implementation. But before we go there, I wanted to cover a bit on the journey of what we have done so far because the tool started in the process of being designed and researched before we started in demanding it. So there was a process of research that was led by Eli, or researcher working with the language team that started to validate that the concept of translating sections on mobile was a successful and valuable concept, making proof of concept and evaluating all that work, getting feedback with the initial implementations and finally releasing into a real Wikipedia, in this case, when value Wikipedia, an early version that we did also usability testing to learn from. Some of the details of the learning from the early concept testing was about validating the core assumptions and we realized that editors were perceiving valuable, the possibility of expanding articles by adding objections and doing that on mobile was perceived as an easy and fast activity. And we also identify areas to keep researching and learning from your agency on the right side. Some quotes about some of the participants, how they validated some of our assumptions about users that are mobile only that were previously left out of these processes. Additional research was based on the proof of concept and early feedback on the initial technical implementation and we were also getting both positive feedback and ideas to improve the tool. And more recently, after having an initial version available in the Wikipedia, we were doing usability testing on it to validate that those ideas that were testing positive were, in fact, received also positively when applied to real articles and real data. Obviously, as an early implementation, we identified aspects to improve like supporting search, better placing the sections that were published in the right place in the article and some other aspects that we have been improving since and most of them are already available in the new version. And talking about the future, we are also thinking of the next steps for section translation. An immediate one is to enable the tool on more Wikipedia's. So if this seems an interesting tool for your Wiki because there's a lot of mobile editing or mobile activity on the Wiki, you can give it a try at test.m.wikipedia.org and special content translation. It's the mobile version of content translation is where we are surfacing this new version of section translation. And yeah, if that's interesting, you can contact the team and we will consider your Wiki as one of the next ones. And we are also exploring the possibility of enabling more entry parts so that people can find the tool. Obviously remembering the previous URL is not the best way to find the tool and currently there are not many more but we will start as we improve the tool making it easier to find. And we will be expanding existing possibilities to translate like better suggestions or translating an article when you identify that it's missing on a specific language to more experimental ones where we can surface some of these missing sections and let people create them when they are missing in stop articles, for example. We're also exploring further the matching translation field. And we want to learn more about how users edit matching translation and which is the perception of quality and the need for improving it in order to support really good quality, the creation of really good quality translations based on how editors improve the initial matching translation. And we also experimented in a few languages to integrate an open source newer matching translation system to provide matching translation to underserved languages that didn't have matching translation before. This is experimental. It's not a high quality translation service right now. Because it depends on open data available, but it does an interesting thing which is closing the loop with content translation where the more translations you produce the more content is shared in this open corpus of knowledge and it helps to train better the system. And yeah, finally we have time for a demo if you were curious to see how section translation works in practice for that, Nick can show you. Thank you Pao. So now it's time for a little demo and together we'll try to translate a section and publish it to a target article. So let me share my screen and here as you can see this is the dashboard of our application this is the section translation application and here are some suggestions for the users to either create new articles or expand already existing articles by translating sections and all these suggestions are perfectly valid but I'm going to choose an article of my preference and I have to click at this button but before that I'm about to change the target article here is the language selector where user can update the source or the target language and I'm planning to select Bengali language as the target language because this is the only wiki that section translation has been deployed as of now and I'm continuing to search for my preferred article and this is the sun article so I'm clicking on it and this is a screen where the user can confirm that they are going to translate an article from this section, from this specific article and here are some information about the missing sections and the availability of this article in Bengali language. I'm going on to click on this button and this is the screen where users can select the section that they are going to translate and publish and I'm going to go with the first one course and it's the general characteristics and this is a screen where user can compare the contents between the section in English and the full article in Bengali language and as you can see here are the contents of this section and on the other hand we have the whole article in Bengali language somewhere at the bottom of this page we can check just above the first appendix title appendix section sorry this is where our new section will be published and this placeholder is here to indicate it so I'm going to go to the translate button and this is a quick tutorial users can see and with some quick information about how it works I'm just going to skip it for now I'm quite familiar with it by now so here is the actual screen where users can translate sentence by sentence the whole section and starting from the section title here is this card is where the suggestion translation is provided and we can even select a different machine translation provider like Google Yandex or even start with an empty sentence for now Google it's fine for me and I'm going to go just by apply the proposed translation for the title as you can see the untranslated sentences are highlighted with a yellow color while already translated segments are highlighted with a light blue color and here are some statistics about our translation since I didn't do any change no edits made by me so I'm going on here and try to edit this translation but I'm not really familiar with the background language so I'm just going to remove some of the content and again I can check that 47% edited by me at this point I'm going on to apply the suggested translation for a few more sentences and once I feel that I am ready to publish this section and the translation is complete I'm just clicking on the done button so this is the last screen where user actually confirms the publication and has the chance to review for the last time the contents of the section and I'm going to publish the section as it is for now and you can see that Google cannot do that because the translation contains too much unmodified text and this is something that is expected to me because machine translation is never perfect and the user should always modify it a little bit so I'm going to modify the section this is the last opportunity and after doing this I can continue with publishing it again and this time I expect it to be successful let's see there is... yeah it was successful and now we are redirecting to the target article where the new section is going to be published this is the target article here is the new section highlighted with the yellow color to indicate that this is a new and also this indicator and at the bottom of the screen here are the contents that I have translated and at the bottom of the screen we can see these two banners that indicate that the new section was added and also here is an invitation for the user to go on and translate more sections for this article I'm going to click it and we are redirecting back to section translation application and specifically to the sun article and this is again the confirm the translation screen and that would close the loop so I could go on and translate another section here so this is it I hope you enjoyed back to you Pao yeah thanks Nick if anyone is interested in learning more about section translation there is... there is a weak-medium page where you can learn about the project track the progress and basically learn more about what's going on with it and this is just one of the different projects that the language team has been working on so if you are also interested in learning more about the work of the team which part of it is in the picture but we have even some more folks joining since the picture was taken feel free to contact us at Media Weekly with Media Language Engineering and yeah thanks for your attention and we are looking forward always for feedback and questions


Socap is a great place with all these folks in the room to make some exciting new announcements and Calvert Foundation, which has been a long-time partner of Socap and is always coming out with new ways to democratize impact and reach new Populations is here with an announcement Jennifer Price Thank You Lindsay and thank you Socap for taking this time to be with you to make this Short announcement but really very deeply connected to what we're witnessing at Calvert Foundation as this field Moves into the mainstream. I share this vision or this View from where I'm witnessing it at Calvert Foundation We are an impact investing fund. We've raised over a billion dollars, but we've done it in a very special way What we have done is enable us retail investors to engage in this movement So that means everyday people like you and I being able to invest for as low as twenty dollars We also have investors as large as 20 million and all that capital We aggregate and then invest in social entrepreneurs around the world So connected to yogic breathing. I was going to take you on just a short journey this morning To kind of drive home the reason why We're creating this new product in the market. So if you could close your eyes, don't fall asleep Just kind of ground your feet on the floor and you might start to understand that I opened a yoga studio before I came into this World as leading Calvert Foundation.   This is the opportunity. This is our future Latinos women Millennials will be transforming our investment landscape These are groups that perhaps have not been activated now even into the traditional investing market Simply because there's not the on ramps. So people don't feel empowered Perhaps they're not aware because it's not culturally resonant how we're communicating Things as simple as language English Spanish or Because perhaps they don't have the assets yet the wealth to really invest and be part of a movement But this is the future the future investments in the future of The social capital markets we need them involved in the work that we are doing We at Calvert Foundation has spent the last few years engaging these groups of people women individuals Millennials and It's so kept 15. We're proud to announce a new initiative Rises which means roots in Spanish in English and roots symbolizes what we've learned from our market research That Latinos both see their roots here in the US and in their countries of heritage This initiative will invest 25 million predominantly Hispanic regions in the US and Latin America targeting education health care and financial services Latinos are a powerful economic social and cultural force One that is poised to expand dramatically over in the next 40 years If impact investing is go become mainstream practice that means Latinos need to be involved So come visit us at our booth go visit vested org and Just a quick moment as I wrap up to acknowledge the people that made this partnership this initiative possible IDB MacArthur and Kellogg Foundation as well as the State Department at USA So this is your opportunity to broaden the impact investing movement go make an investment and join us Thank you


When you look at the global greenhouse gas problem, what happens in the developing world really matters. Switching from coal to natural gas over the next couple of decades is something we can do quickly and basically cut emissions by about a factor of two. And it would be wonderful to see us get off of coal as quickly as possible. So the conversion from coal to natural gas is a relatively easy thing to do and is already happening big time in the United States. And the potential is for countries like China, for example, to stop using so much coal, to stop increasing the amount of coal they're using, switch to natural gas. The natural gas revolution gets its name from two related factors. One is the ability using horizontal drilling and multi-stage hydraulic fracturing, fracturing every horizontal well multiple times. To extract gas from what are the traditional source rocks for all hydrocarbons, these are called shale formations. So this cheap and abundant natural gas has been a quite remarkable resource. Now that doesn't mean there aren't problems and there are plenty of problems. But hydraulic fracturing is really not the origin of the problems. The origin of most of the problems we have is due to poor well construction. The toxic chemical part of it is actually when you finish hydraulic fracturing and you flow the water back out of the shale. You wanna get the water out of the way so that the gas can flow. The water that comes back picks up a lot of salt and things like selenium and arsenic and iron. And the water that comes back then has to be dealt with. You can't discharge it at the surface. You have to dispose of it properly. Natural gas is not a perfect fuel. I mean it produces CO2. If methane leakage occurs, methane's a potent greenhouse gas. But it's a far superior tool to coal. The amount of gas available to the global community is just enormous. And we talk about hundreds of years of natural gas. Now of course, we don't want to use natural gas for hundreds of years. We want to decarbonize our energy system. But it's certainly an energy source that we can use as we transition from a fossil fuel based energy system to a non fossil fuel based system. It's very important that as we switch the natural gas away from coal, as we provide more energy for the world's growing population, provide more energy for a population that's getting richer and needing more energy that we do so by doing less harm than we've done in the past. But at the same time, we can't lose sight of the need to decarbonize the energy system over the next, say, half century. And so fear of being complacent, of being locked into the investments made with pipelines and facilities for natural gas is a real fear. And it's a justified fear. The other fear of committing to natural gas is that it would be a disincentive to invest in renewables. And renewables are far better than natural gas. So we need more wind, we need more solar. But we're no longer burning wood, we're no longer burning peat. Energy systems have evolved and they've evolved to cleaner and more efficient energy systems since the dawn of man. And switching from coal to natural gas is just part of that process. And switching from natural gas to decarbonized energy sources is our future.


Pretty much all of my early adulthood, late teens, I felt like there was like two different parts of me.  And I had to feel like I put it in a cage all the time and keep it controlled. And then I had my logical brain, which was in my mind, it was the best brain. It was, you know, it makes sense. You know, I don't want to do things that don't make sense. I don't want to do things that that don't aren't productive to me. And I think that that disconnect between my emotions and the actions and the things I did and the things I thought really made it hard for me to understand how other people worked.  They just run around and do stuff that makes them feel good. It's like, like they scared me. Your typicals were really sort of hard to emotionally based rather than logically based. Yeah, yeah. Yeah, well, it's, yeah, it led to me, led to me having a lot of thoughts of superiority when I was when I was you and go, I was like, well, you're going and doing this stuff because you feel good. Well, I don't do that, you know. I'm, I'm a logical being. I'm an adult. I know what I'm doing. And obviously it's, it's, you know, I had a lot of work to do in terms of integrating my emotional side, but that exact attitude is one of the reasons I started my emotional intelligence training course online is because I noticed that attitude a lot. I noticed it in myself. I noticed it in my colleagues in my engineering office. The one that basically put intellect and logic above emotions. And it's like, haven't, haven't we kind of evolved out of emotions? Do we really need them anymore? And actually the answer is, the answer is, yeah, we do actually. And for anyone listening who is thinking, yeah, but isn't logic actually significantly better. I would recommend a book called Thinking Fast and Slow. It's a really good way to understand how we have two brains that do very different things. One of them is the logical brain.  It is incredibly painfully heavy and slow. And it does some things really well. But if you try and use it to do everyday tasks, you're going to run out of executive functioning resources and you're going to be overwhelmed by social situations and you're going to feel like there's a lot of anxiety and stress in your life because you don't have enough resources to do what everyone else seems to be doing really easily. And one of the reasons for that is because we don't use the other part of our brain very effectively or efficiently. So when you start thinking about it like that, all of a sudden it's not emotional intelligence, it's brain training. I am training my emotional brain to do what I want it to do and serve me. And it's like having a personal assistant or something where I just delegate all of the non-important tasks, the ones that can be done really quickly that don't need a super amount of precision and they just all get done. Things like small talk, things like other social interactions and figuring out what I feel and things like that. Just the fast emotional brain does them in an instant without any effort whatsoever, without draining my intellectual capacity on Monday and everyday things. Yeah. So I mean like one of the things that really separates us from animals is our ability to have that sort of higher cognition. But it actually it does, as you said, it requires a lot of energy. Like a lot of the reasons why we have things like routines and habits is so that we don't have to think about things, that we just act. Like we just this is what we do and we do this and we feel this way and then we go and feel that way. And you know, you need the bathroom. You don't have to think, hmm, should I go to the bathroom? You just go because it's like an emotional sort of habit kind of thing. Yeah, I think that's that's really worth highlighting to a lot of people because as you said, I've heard that from a lot of people as well. You know, like whether it's from close friends, whether people are doing it sort of cognitively like they actually, you know, actively trying to push emotions to the side or whether they just don't really think about that side of them.


In terms of the National Democratic Party, I'm curious what your take on this is because Bernie Sanders lost the nomination Unfortunately, as we all know and I think that he would have been a really great motivator for younger people to turn out and I think that Him not being at the top of the ticket is going to affect turnout for lower races such as yours So how are you able to make sure that turnout in your district is high? If you have someone at the top of the ticket who doesn't necessarily motivate young people, you know Joe Biden, so how are you kind of offsetting that because I think that it would have been easier for candidates to win Had we had Bernie as the nominee but now since Joe Biden is nominee I feel like you know, maybe enough anti-Trump voters will come out and choose to support down ballot Democrats But it's tough to say so. What are you guys looking at in terms of upping turnout in your district? You know, I think I mean fortunately Washington State already has Automatic voter registration that started this year and we already do mail-in ballots as well So that's something that helps give us more increased voter turnout than most places But it's the same thing where like I said, you know, we can't expect anyone to come in and win it for us A president Sanders wouldn't have been able to get everything he wanted done without a supportive Congress And that would have been probably his main battle even with largely public support for his policies And the same goes for President Trump if he does things that people don't like it's not going to be able to break rules without a complicit Congress and so Really, I think it's about rethinking the whole model that we approach our electoral system in We should be focused on having members of Congress congressional representatives senators City council members who we're proud of we know who the heck they are We're paying attention to that and so we're gonna increase voter turnout just like we are now when the people who are watching this Decide to step up and be the leaders that we've been waiting for because we are the leaders you me and the people watching this We're the leaders we're waiting for not Bernie not Biden not Trump Nobody comes in it's up to us to decide that we're gonna take a personal role in the outcome of how things go and when someone who's a text banker or a phone banker or one day again a canvasser knocks on a door and It's clearly passionate about a candidate or that candidate does it themselves That has an impact that that that beats MSNBC that beats Fox When you get that face-to-face with someone who can have a real conversation with you break down the straw man and Actually talk about a candidate and who their representative is