Buy for May 29

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Buy IFCI Ltd 66,69,70. Stop loss 58

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FY2010 H1B quota

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After many months of little or no movement, we are at last seeing an increasing number of new H1B petitions accepted by the USCIS under the fiscal year 2010 quota. As of November  27 th , the USCIS reported that they had received approximately 58,900 petitions. The annual quota limit is 65,000. The law provides special set asides of up to 6,800 numbers for petitions filed for citizens of Chile and Singapore, under special free trade agreements. Technically, this reduces the overall quota to 58,200. Most of the Chile/Singapore set asides, however, are returned to the main pool and used by "regular" H1B petitioners. Given that this is a relatively small number, however, it shouldn't delay by too long the date on which the quota is finally reached.   Given the increasing number of filings, and the new sense of urgency that will undoubtedly result in more speculative filings by people hoping to get in while visas are still available, we can expect to see the quota r...
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