Tuesday, December 13, 2011

History of Christmas

History of Christmas


Until the time of Julius Caesar the Roman year was organized round the phases of the moon. For many reasons this was hopelessly inaccurate so, on the advice of his astronomers, Julius instituted a calendar centered round the sun. It was decreed that one year was to consist of three hundred and sixty-five and a quarter days, divided into twelve months; the month of Quirinus was renamed 'July' to commemorate the Julian reform. Unfortunately, despite the introduction of leap years, the Julian calendar overestimated the length of the year by eleven minutes fifteen seconds, which comes to one day every on hundred and twenty-eight years. By the sixteenth century the calendar was ten days out. In 1582 reforms instituted by Pope Gregory XIII lopped the eleven minutes fifteen seconds off the length of a year and deleted the spare ten days. This new Gregorian calendar was adopted throughout Catholic Europe.




Protestant Europe was not going to be told what day it was by the Pope, so it kept to the old Julian calendar. This meant that London was a full ten days ahead of Paris. The English also kept the 25th of March as New Year's Day rather than the 1st of January. By the time England came round to adopting the Gregorian calendar, in the middle of the eighteenth century, England was eleven days ahead of the Continent. 


A Calendar Act was passed in 1751 which stated that in order to bring England into line, the day following the 2nd of September 1752 was to be called the 14th, rather than the 3rd of September. Unfortunately, many people were not able to understand this simple manoeuvre and thought that the government had stolen eleven days of their lives. In some parts there were riots and shouts of 'give us back our eleven days!'

Before the calendar was reformed, England celebrated Christmas on the equivalent of the 6th of January by our modern, Gregorian reckoning. That is why in some parts of Great Britain people still call the 6th of January, Old Christmas Day.




Christmas is both a sacred religious holiday and a worldwide cultural and commercial phenomenon. For two millennia, people around the world have been observing it with traditions and practices that are both religious and secular in nature. Christians celebrate Christmas Day as the anniversary of the birth of Jesus of Nazareth, a spiritual leader whose teachings form the basis of their religion. Popular customs include exchanging gifts, decorating Christmas trees, attending church, sharing meals with family and friends and, of course, waiting for Santa Claus to arrive. December 25–Christmas Day–has been a federal holiday in the United States since 1870.

Monday, December 12, 2011

Option Bulls Pile Into PetroChina


PetroChina is not a common target for option traders, but bulls were piling into the name at the end of last week.
About 2,200 December 130 calls were purchased on the Beijing-based energy company on Friday, mostly for $0.90 and $0.95. Volume was almost twice open interest in the strike, according OptionMonster's real-time tracking systems.
These long calls , which give traders the right to buy the stock for $130, will expire worthless at the end of this week if the stock remains below that level. But they can also appreciate by double, triple, or more if PetroChina rallies quickly.
PetroChina rose 0.41 percent on Friday to close at $124.58, and has been slowly working its way higher since the summer. Energy has been one of the stronger sectors in the last two weeks, as investors bet that a resolution to the European sovereign debt crisis will boost commodity prices.
Overall option volume in the name was seven times greater than average on Friday, with calls outnumbering puts by a bullish ratio of 10 to 1.

credit : www.cnbc.com

Monday, October 10, 2011

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