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David Waggoner, CMT

David Waggoner, CMT

David Waggoner, CMT, is the founder of TheMarketDetective.com and uses the Elliott wave principle and Fibonacci ratio analysis to uncover clues about the direction of the market. He then uses other forms of technical analysis to corroborate his findings in such a way as to assign a probability factor to them.

Waggoner has been a trader/investor full-time since 2000. He manages personal equity and provides professional market opinion to private and commercial clients. Prior work history includes a successful career in information technology with AOL, KMPG, and the USMC.

Waggoner lives in San Diego, California, with his family. He spends his free time in the desert with a motorcycle

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Letter from the Editor

The MTA Annual Award recognizes significant accomplishments in the field of technical analysis. It has been bestowed for pioneering work, an insightful innovation, or an extraordinary career. This year’s winner offers an example of an extraordinary career. Robert Peirce, the 2010 Annual Award winner is discussed briefly in this issue, and his story illustrates that technical analysis can be applied to investment management. All too often we hear that technical analysis is not widely accepted in the finance world. Nothing could be further from the truth, and Bob Peirce is but one  example among many where technical analysis was applied professionally. One problem that does damage the reputation of professional technicians is that many people attempt to apply technical analysis without possessing great skill or applying sound techniques. The best defense against the misconceptions inspired by poor analysis is quite possibly your MTA membership. We discuss that idea elsewhere in this issue and hope that all members will let potential employers and clients know that they are bound to follow the industry’s highest professional and ethical standards. Your MTA membership is proof of professionalism. As usual, we also offer examples of excellent analysis in Technically Speaking. Tom McClellan is advancing the work of his parents, and Sherman McClellan is another example of an individual who has enjoyed an extraordinary career in technical analysis. Their work is highlighted this month. We hope that the articles in this issue will inspire you to achieve greatness in your career as Robert Peirce and Sherman McClellan have. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, August 2010 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-august-2010 [to_ping] => [pinged] => [post_modified] => 2020-03-19 19:08:34 [post_modified_gmt] => 2020-03-19 23:08:34 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47721 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 418457 [post_id] => 47721 [meta_key] => newsletter_content_3_contributor [meta_value] => a:1:{i:0;s:5:"47731";} ) [1] => stdClass Object ( [ID] => 47737 [post_author] => 2 [post_date] => 2010-07-15 12:00:48 [post_date_gmt] => 2010-07-15 16:00:48 [post_content] =>

Letter from the Editor

Little has been written about Ichimoku Clouds, which were first used in the 1930s. They are visually compelling, yet little used in the world of technical analysis. In recent months, two books have been published exploring this topic. We have reviews of both in this month’s issue of Technically Speaking. Prior to the publication of these books, one of the most authoritative pieces on Ichimoku Kinko Hyo may be an article written by Véronique Lashinski, CMT, and published in the Journal of Technical Analysis (http://www.mta.org/eweb/dynamicpage.aspx?webcode=journal2008#section05). MTA members have always produced groundbreaking researching. Lashinski’s paper is just one example of the type of work that our members produce. In the newsletter this month, we offer another example of cutting edge technical analysis with David Waggoner’s article exploring the May Flash Crash. While regulators are still looking at what happened and how to prevent, Waggoner offers a practical insight into the crash. Finally, High Growth Stock Investor recently released a new version of their software. They did this almost at the same time we published a review of the older version last month. We are fortunate to be able to offer details on their product. This company is a long-time supporter of the MTA. They offer a 60 day trial to High Growth Stock Investor for free. This includes the software and daily EOD updates to a database of over 8,000 (NYSE,NASDAQ,AMEX) securities, major market indexes, mutual funds and commodities. After the trial period, they will offer a discount from our $59/month rate to $49.00/month for the first 12 months plus a 6 month free subscription to the Woodward and Brown Newsletter and Video, normally a $200.00 annual subscription. For the 60 day free trial, go to www.highgrowthstock.com/MTA. Many other companies support our organization. Please take a moment to look at them by visiting http://www.mta.org/eweb/dynamicpage.aspx?webcode=membership-discounts Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, July 2010 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-july-2010 [to_ping] => [pinged] => [post_modified] => 2020-03-19 19:56:46 [post_modified_gmt] => 2020-03-19 23:56:46 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47737 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 418659 [post_id] => 47737 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:5:"47731";} ) [2] => stdClass Object ( [ID] => 47821 [post_author] => 2 [post_date] => 2010-03-15 12:00:00 [post_date_gmt] => 2010-03-15 16:00:00 [post_content] =>

Letter from the Editor

The goal of Technically Speaking is to deliver timely and useful research to MTA members. Since switching to our electronic format, we do feel that we improved our ability to meet these goals. We have significantly expanded our use of charts, and we introduced full color charts. This format also means that we are now able to publish longer research pieces alongside shorter articles. All of these changes make Technically Speaking more of a benefit to our members as a source of ideas and as an avenue for being published. That first benefit is obvious - ideas are always welcome to traders and investors alike and serve as a starting point for individual research. In today’s job market that second benefit may be overlooked but even more valuable.  Being published in a professional publication is a great addition to any resume. It demonstrates that you can not only analyze the markets using technical analysis, but also that you can detail this analysis and present it in an understandable manner. Many positions require the ability to communicate strategies to traders, sales staff, or clients and a published article offers proof that you have this skill. I hope you’ll consider sharing your research and analysis with the members of the MTA, whether you’re a seasoned professional or new to the field. As always, we are looking for longer term work – we can’t publish short-term market forecasts although these are perfectly suited for the Technical X-Change section of the Knowledge Base that is maintained on the MTA web site (http://knowledgebase.mta.org/). Some great examples of the diverse topics we’d like to publish are in this month’s issue, which we hope you’ll enjoy reading. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, March 2010 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2010 [to_ping] => [pinged] => [post_modified] => 2020-03-20 12:45:27 [post_modified_gmt] => 2020-03-20 16:45:27 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47821 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 420869 [post_id] => 47821 [meta_key] => newsletter_content_5_contributor [meta_value] => a:1:{i:0;s:5:"47731";} ) )

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