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Emily E.A. Meyer

Emily E.A. Meyer

Emily Elizabeth-Anne Meyer is the Director of Marketing for the CMT Association.

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            [post_content] => As it is for so many people, especially those who worked in downtown Manhattan and the Pentagon, this month holds special meaning as it marks the 20th anniversary of the attacks on 9/11. As the Association, then known as the Market Technicians Association (MTA), had its headquarters in the North Tower of the World Trade Center, we were deeply affected. First and foremost, we had our own people in the building when the events unfolded. Fortunately, everyone working in the office was able to escape to safety. But we did suffer a huge loss as one of our members perished in the Tower collapse, and so did our office, along with our library and a good deal of our written history.



In this month’s edition, we have an updated version of the experience of Shelley Lebeck, our long-time office manager, from first feeling the building shake to her escape uptown. We also are re-running a piece written by Barbara Gomperts, our marketing consultant and production coordinator, about how the Association was able to bounce back so quickly. And Ralph Acampora relates his thoughts; he was President of the Association at the time. The point of all this is to show how the Association was dealt a huge blow, but was able to overcome it and continue to serve our members. That is the power of a membership community who cares and gets involved. Here is but one example: the late Bill Doane, who I thank daily for saving every edition of Technically Speaking, drove down from Boston with boxes of books from his own personal library as a gift to kickstart the library rebuild. Also, as luck would have it, I had a stash of MTA photos at home with me as I was putting together our tradeshow marketing booth. At least we had some of our visual history to seed new memories.

There are, of course, other things happening in the Association as we continue to move forward. This month’s member interview is with Ryan Detrick, CMT, who you may have seen many times on TV and Twitter, as he spreads the word on technical analysis. We’ve got news about the upcoming Asia Pacific Summit virtual event, as well as member news, information on the new Fill the Gap podcast episode and the announcement that our submission period is now open for the 2022 Charles H. Dow Award.

Be a part of this. Join a committee. Share your knowledge with the next generation of technicians. Even just attend the annual symposium. You will be glad you did.

This is the final edition of Technically Speaking in its current form. The Association is combining this newsletter with the Technical Insights newsletter, and I will be handing over the reins to Rashmi Shastry, CMT and the new team. Executive Director Alvin Kressler has more about this initiative below.

Michael Kahn, CMT

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            [post_content] => A lot of talk about the “new normal” of work fills the airwaves (and digital channels). How many companies are bringing employees back to the office? What will happen to all the supporting businesses around offices if people keep working from home? Is the economy heating up? Inflation? Can restaurants even fill out their staffs?

These are all questions for planners above my pay grade. What I do know is that prices for a lot of goods and services are higher now. This is but one factor we all have to keep in mind, even we technicians. As you all know, a falling dollar tends to make commodities more expensive. Lower commercial real estate demand might mean residential demand is growing, and with it, stocks catering to that segment. Do we still need Zoom? I hope not.

While we are not analyzing the market based on these fundamentals, we do use them to point us in the right direction where real analysis (technicals, of course) can take over. So, keep your eyes open and follow the money to see which asset classes will benefit and which will get hurt. Which companies will thrive, which will not and which ones may be on the road to recovery because they already figured out the “new normal.” Just because a style of technical analysis worked in the past does not mean it will always work the same way. Sell in May, anyone?

As editor, this month my heart is full. As you will read below, we have acquired a treasure trove of old newsletters which will provide a lot of materials for the current version. Old photos; yes, we have them. And we will start with a reprint of a piece written by Dr. Van Tharp, a noted trading and investing coach. He goes beyond trading psychology and hits us over the head with the need for money management. It’s long but well worth the read.

We’ll more on to Association business, an announcement of the Euro Summit, and a review of the May virtual meeting of the Mumbai India chapter. Outgoing President Scott Richter has a few parting words as the new slate of officers takes over in a few weeks.

For those of us in the U.S., enjoy the summer as restrictions are lifted. For our colleagues in areas of the world that are still suffering, keep the faith, as this will one day end.

Michael Kahn, CMT

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            [post_content] => Well, it is finally over! Or is it?

What is “it” anyway? It could be the pandemic, as on November 9 we got some excellent news on the vaccine front. Or it could be the election, which looks like a blue win but with a lot of legal challenges on the docket. Or maybe it was the end of ridiculously low T-bond rates? No, I don’t include any Fed changes in that one. Twitter? Zoom?

I’d go with all of the above, which was actually no answer.

So it goes as Halloween morphs into Thanksgiving. One thing is for sure: everyone cannot wait until 2021. Keep your extra hour of sleep as the clocks were changed back.

Fortunately, there is always something good happening in your Association. From a wildly successful India Summit to the upcoming Charles H. Dow Award competition to the next round of CMT exams, the CMT never sleeps. Our CMT Program enrollment numbers, including the cohort of candidates that had to postpone their exam in June, are up dramatically.

In this month’s edition of Technically Speaking, we have some good stuff, too. Our feature article is by Michaael Gayed, CFA, a two-time winner of the Dow Award, on market returns given the current level of the VIX. The result is actually against what we might think and that is what makes it valuable.

Ian McMillan, CMT is our member interview, the old faithful Minneapolis chapter is back with a speaker review, and we’ve got an announcement of the Reuters Investment Summit, for which the CMT Association is a sponsor.

Joel Pannikot gives us a taste of what to expect for the 2021 CMT Symposium, using the India Virtual Summit model to explain what the staff is changing about the Symposium and what's staying the same.

And if you have been procrastinating, this is the last call to submit your paper for the next Dow Award with details inside. There is another entry from the photo archive and news from around the Association.

Enjoy! Just keep your pumpkin spice to yourself.

- Michael Kahn, Editor
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            [post_content] => Dear Members, 

For more than 50 years, the CMT Association has existed to advance the discipline of technical analysis. This core value established by our founders guides us as we face the difficult challenge of responding to the coronavirus (COVID-19), which the World Health Organization has declared a global pandemic. 

Our hearts and thoughts go out to the families who have been directly affected by this unprecedented event and we appreciate the healthcare workers, local communities, and governments around the world who are on the front line working to contain this coronavirus. We also applaud all CMT Members engaged in unselfish acts: caring for family and friends; supporting co-workers and colleagues; aiding those in our communities without the privilege to work remotely or lean on savings to fill their pantries 

As the situation grows, the CMT Association has also been impacted. In the interest and health of our members, the Board of Directors decided on March 14th to postpone the upcoming 47th Symposium. The decision was not make lightly, but we know that the event will come back stronger in the years to come. The Association is closely monitoring the pandemic with an eye on the CMT Program. While it has not been immediately impacted, we are in close contact with Prometric to make sure that we have all the current information.

Compounding the challenges of disrupted travel, uncertain business planning and clear public health threats, we know that all our members are shouldering responsibilities for firms and clients trying to navigate tumultuous and uniquely volatile market behavior. So, in the spirit in which the CMT Association was first forged 50 years ago, lean on us for the resources you need to get through this difficult period. Here are a few quick resources you can access from anywhere. 

Resources

1. Journal of Technical Analysis – 70 issues over 40+ years of research by practitioners for practitioners.  

2. Weekly Webinars –  View the schedule of upcoming live digital presentations 

3. CMT Youtube Channel – share video presentations, podcast interviews and other free content with your network here 

4. CMT on Twitter – Converse with members and stay current with the latest market commentary from CMT charterholders all over the world at https://twitter.com/cmtassociation 

Community Leadership Whether you reside in Mumbai, Milwaukee, or anywhere in between, we all have some difficult times aheadWhile it is challenging to resist getting swept up in the media frenzy or falling victim to our own emotional response to sharp losses and client frustrations, remember that this is a time when the industry is counting on our community to bring calm rational perspectives and disciplined guidance. It is on you to be the leader now. Here’s how you can help in the short-term: 

1. Speak to the media, and let us know when that happens so we can amplify that through our social media networks.  

2. Share resources with colleagues at your firm. Send them links to articles or archived videos at www.cmtassociation.org  

Long-Term Relevancy We are trading through what will be an incredible case study in the future. Here's how you can leverage this for your career and the global recognition of the CMT Charter.

1. Submit your research to the Charles H. Dow Award competition. Use this market environment to track and monitor your strategies. Share your work and help us all advance the discipline of technical analysis. 

2. Advocate within your firm. Does your employer support ongoing professional development? Can all CMT charterholders use the designation on business cards and research reports? Do they have a learning & development team we can speak with about the value we bring to employees and the firm’s clients? Make your suggestions or introductions to Alvin, Tyler, or Joel - @cmtassociation.org. 

3. Do your colleagues or institutional clients want to improve their professional practice? Introduce them to the CMT Program. 

As we have often been told, hope is not an investment strategy. Hope does not lie in a rate cut or a stimulus package. It comes from calm leaders who are experts in their field sharing objective facts and honest recommendations. CMT Association members have a responsibility to the industry right now. Please send your thoughts and recommendations on how you are taking action and how we can engage deeply in that work with you right now, and for the weeks and months to come.  On behalf of all CMT Members and staff around the world, we wish you and your families health and safety in the weeks and months ahead  Sincerely,  The CMT Association Board of Directors   [post_title] => Technically Speaking, March 2020 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2020 [to_ping] => [pinged] => [post_modified] => 2021-04-07 16:20:31 [post_modified_gmt] => 2021-04-07 20:20:31 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47034 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 413816 [post_id] => 47034 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:5:"29946";} ) [4] => stdClass Object ( [ID] => 39344 [post_author] => 35924 [post_date] => 2019-08-06 06:55:21 [post_date_gmt] => 2019-08-06 10:55:21 [post_content] => Once again, we find ourselves dealing with the external market forces of a China trade deal. Will we, or won’t we? But this time, China went into the currency markets and nobody liked that very much. And the internal forces, somewhat internal, anyway, of the Fed dropping rates – giving the market what it asked to get – was not fun either. Apparently, it was not enough. I get that the yield curve almost demands further cuts but the economy is also pretty much at the higher end of possibilities. Why exactly do we need cuts? To appease the bond market? Or is the bond market inverted because it knows the Fed will act? What will the historians say in 20 years? I cannot wait to find out! Gold has a long-term breakout. Copper looks terrible. Oil, too. The Baltic Dry rate is soaring but sources tell me it has nothing to do with demand, rather for ships out under adjustments. And the amount of global debt offering negative yields is at another record. I’ll leave it to you to decide if that is reason enough to shun stocks. But a pundit – one who is not paid to advise investors - said on the tube this morning that a trade deal with China will be good for 5000 Dow points. A different pundit said that there will be a deal before the end of the year. Hold your nose and buy? Again, that’s up to you. It’s a good thing you use charts. In this edition, the summer doldrums have taken hold and there is not much sizzle to report around the Association. However, the meat continues to cook, from CMT testing to international symposium summits. The Association may not be making soundbites, but rest assured things are still happening. For example, Association Executive Director Alvin Kressler reports on not one but two events in the planning stage for our overseas members. We welcome a new crop of freshly minted CMTs. And we are about to start accepting submissions for the Charles H. Dow Award. In chapter news, we have two reviews for presentations by the same speaker in two different cities. It is interesting to see the different takeaways in nuance, although the main points were the same. This month’s member interview is with trading legend and all-around nice guy Larry Williams. Larry is one of the most generous people around when it comes to sharing his accumulated knowledge. And finally, this month's feature from Chis Cain, CMT, about his experiences programming with Python. Python has become the hottest programming language on Wall Street and is now being used by the biggest and best quantitative trading firms in the world. Michael Kahn, CMT Editor [post_title] => Technically Speaking, August 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-august-2019 [to_ping] => [pinged] => [post_modified] => 2021-04-07 16:11:15 [post_modified_gmt] => 2021-04-07 20:11:15 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=39344 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 291302 [post_id] => 39344 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:5:"29946";} ) )

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