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George A. Schade, Jr., CMT

George A. Schade, Jr., CMT

George A. Schade, Jr., who holds a Chartered Market Technician (CMT) designation, has written extensively about the people and innovations that have advanced the field of technical analysis within financial markets. A member of the CMT Association since 1987, he has written about the origins of the Stochastic Oscillator and Advance-Decline Line, Edson Gould’s Three Steps and a Stumble Rule, and the Decennial Pattern. His research includes an extensive addition to the biography of Ralph Nelson Elliott.  He has also written a biography of the financial writer Richard W. Schabacker. His research has appeared in books, professional journals, and financial magazines. In 2013, George received the Charles H. Dow Award for his paper, Origins of the On Balance Volume Indicator.  In 2017, George received the Service Award of the CMT Association.

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            [post_content] => It's August already, and life seems to have taken a step backward. Covid made a comeback and all of those “pandemic recovery” stocks took it on the chin. Fortunately, unlike last year, we have potent weapons at our disposal, so this could be just a temporary setback. That means the economic recovery should continue later this year. Could rising interest rates derail it? Did oil just correct and is preparing to break out to the upside again? Take a look at a long-term chart (20 years) of gold, too.

So many cross currents to consider. Will the meme stocks keep meme-ing? Will poorer global economies bounce back after getting more of the vaccine? And just how long can the large-cap indices make new highs when the others are offering no profit whatsoever since the start of the year (look at the Russell 2000)? Of course, these may be famous last words in the limbo period between when I write them and when they are officially published.

On the Association front, the summer, especially another Covid summer, is a quiet time. Chapter meetings are just starting to ramp up again, but CMT testing is going strong. In this month’s edition of Technically Speaking, we’ve taken yet another dive into the past with content poached from newsletters of yore, including a biography of John Magee, of Edwards & Magee, written by George Schade, CMT. If you did not already know, a lot of that famous tome was based on the work of Richard Schabacker, who was not coincidently Richard Edwards’ brother-in-law. We’ve also reprised Donald Mack’s review of Schabacker’s book, Technical Analysis and Stock Market Profits.

This month’s member interview is with Marc Lichtenfeld, a long-time member. Of course, there is member news, the official CMT Podcast announcement with Pamela Yoon, CMT and a page of photos taken at the 14th Annual Seminar in Naples, Fl.

If you have some old photos, please scan them and send them in to editor@cmtassociation.com. We would love to have them. Also, if you would like us to run an interview with a favorite technician, let us know that, too. Any content we run to make your professional and analytical life easier is fair game. And if you have something to say yourself, let’s go. Write that article!

Until next month. Look for a story then about how the organization survived September 11, on the upcoming 20-year anniversary.

Michael Kahn, CMT

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Letter from the Editor

November proved to be an interesting month for the markets. Just before the market burped up a post-Thanksgiving 2% pullback, the Russell 2000 finally broke out from its 2019 range. False hope? Recession time? Once again, the sloth (look it up) of bearish economists was out with the utterly useless prediction that a recession was coming by the end of 2021.  Thanks for the heads up, fellas. Have you seen a price chart? I keep a collection of equally dim-witted headlines. Last month’s favorite was “Don’t Time the Market, but If You Do, Here’s When the Bear Might Come Knocking.” Do as I say, not as I do. Gold is still correcting, Oil showed a little stealthy increase, the dollar looks a little shaky and apparently Europe is still so bad that the ECB is dipping back in the QE well…Because it worked so well the last time.  Again, have they ever seen a price chart? This month in Technically Speaking, we’ve got part three of Bruno DiGiorgi’s History of Wall Street, and George Schade, CMT, continues the history theme with a story about preserving the technical analysis of legend Edmund W. Tabell. This month’s member interview is with Stanley Dash, Program Director of the CMT program and a well-established technician in his own right. You may know him as a technical educator at TradeStation, where he spread the gospel. New York, Minnesota and Richmond chapters weigh in with reviews of their recent speakers. Hey other chapters who are not Northern Ohio and Chicago, can you help a TA brother out with reviews of your own? In addition to all this, you can find Association news, congrats to new CMTs and another job posting all inside. If you’ve got a book out, let us know so we can tell everyone. Also, if you are hiring technicians, we can post that here. And one more time, I ask members to submit articles they’ve written (not forecasts but methods) or write something new to share your knowledge with the group. If you are new, this is a great way to develop your chops as an analyst and a writer. Yes, I am begging for content! It’s your Association. Get involved. To all, a joyous and profitable end of the year. See you back here in 2020. Michael Kahn, CMT Editor [post_title] => Technically Speaking, December 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2019 [to_ping] => [pinged] => [post_modified] => 2021-04-07 16:22:10 [post_modified_gmt] => 2021-04-07 20:22:10 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=43422 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 346299 [post_id] => 43422 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [2] => stdClass Object ( [ID] => 37317 [post_author] => 2 [post_date] => 2019-01-31 23:17:10 [post_date_gmt] => 2019-02-01 04:17:10 [post_content] => So far, this year has been dominated by the partial government shutdown. Does it affect the markets? Well, maybe indirectly. New issue IPOs are held up due to a lack of resources at the regulators. Tax refunds may be delayed, so investors might be a little cash tight. And most important of all, the shutdown and specter of a second downgrade of U.S. sovereign debt looms large. The deadline to raise or suspend the debt ceiling is just weeks away. Volatility in stocks remains high, bitcoin seems to be fading from interest, and for the first time in a long while gold shows signs of life. Naturally, the flattish yield curve, Brexit, and slowing global growth made the pundits warn of gloom and doom. Don’t tell Mr. Dow and Ms. Nazzie (or their Brazilian cousin Bovie). This month, the theme here centers on jobs. No, not jobs in the general economy, but jobs for technicians. We surveyed a group of technicians who took the plunge and went out on their own. After all, the number of direct, salaried jobs on the Street has dwindled - we’ve also got an article about a TA veteran who made that very point and told us what he did about it. The bottom line is that technical analysis is a very valuable skill to have, and where there’s a will, there’s a way to use it to make a living. Next, Dan Russo, CMT, offers his views on risk management, which is a very important topic for all of us. Of course, we’ve got news from around the association with chapter reports, CMT information, this month’s interview with George Schade, CMT and a review of the Mike Epstein Award presentation to Dave Lundgren, CMT, CFA by Julie Dahlquist, Ph.D., CMT. - Michael Kahn, CMT [post_title] => Technically Speaking, February 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2019 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:15:27 [post_modified_gmt] => 2020-08-03 15:15:27 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=37317 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 259489 [post_id] => 37317 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [3] => stdClass Object ( [ID] => 44811 [post_author] => 35924 [post_date] => 2014-08-15 12:00:54 [post_date_gmt] => 2014-08-15 16:00:54 [post_content] =>

LETTER FROM THE EDITOR

Technically Speaking includes an interview with a practicing technical analyst almost every month. This month, we feature Amber Hestla-Barnhart’s exchange with Cynthia A. Kase, CMT, MFTA. Cynthia’s interview is striking for several reasons. A standard question in each interview is “What advice would you have for someone starting in the business today?” The answers to this question are always interesting. This month, Cynthia provides a list of what every technician should consider as they strive for success. All readers, new and experienced analysts, should consider spending a few hours working through this list. Cynthia lists 13 short pieces of advice in her answer. Each one of them is important. Technical analysts, and any other professional, will need to “be realistic about the “cost” of meeting your goals. Be prepared to “pay the price.” The other twelve items on the list are equally succinct but could require hours of thought to understand. If you find these interviews and our other content to be valuable, or if you would like to be the subject of an interview, please email us at editor@mta.org to provide your thoughts. Sincerely, Michael Carr [post_title] => Technically Speaking, August 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-august-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:23 [post_modified_gmt] => 2020-08-03 15:31:23 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44811 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 372026 [post_id] => 44811 [meta_key] => newsletter_content_0_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [4] => stdClass Object ( [ID] => 45140 [post_author] => 2 [post_date] => 2014-03-15 12:00:20 [post_date_gmt] => 2014-03-15 16:00:20 [post_content] =>

LETTER FROM THE EDITOR

The MTA’s Annual Symposium will be held next month in New York City and this month we are previewing the work of two of the speakers. Ned Davis has been completing some of the most original and useful research in the field for decades and we can see several of his charts and studies included in a short article. He will provide many more charts to study in New York. In a separate article, Dr. Tucker Balch provides insights into how we can turn volatility into profits and he will be providing additional practical insights during his presentation. In the next few months we will be presenting summaries of speaker presentations but these will capture only a small part of the information available at the Symposium. If you haven’t made plans to attend yet, there is still time. It’s actually not too early to start planning for next year either. The Symposium Committee is already preparing for next year’s Symposium and it is their year-long planning efforts that result in a successful Symposium every year. I look forward to meeting many MTA members at the Symposium and I will be asking what you’d like to see in Technically Speaking. You can also email your thoughts on how we’re doing and what we should include in future issues to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, March 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:21 [post_modified_gmt] => 2020-08-03 15:31:21 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=45140 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 377165 [post_id] => 45140 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [5] => stdClass Object ( [ID] => 46670 [post_author] => 2 [post_date] => 2012-03-15 12:00:23 [post_date_gmt] => 2012-03-15 16:00:23 [post_content] =>

LETTER FROM THE EDITOR

This issue starts with a small preview of the upcoming Annual Symposium.  Michael Covel will be the keynote speaker and we are presenting a small sampling of his philosophy. Covel is an expert on trend following and is able to explain the strategy along with its rich history. His writings are a valuable source of information for traders and his talk will certainly be valuable for traders and those interested in market psychology and history. Also in this issue, Scott Hathaway offers another insightful article with another technique that he has developed. Last month he presented pentagonal analysis with detailed examples and a complete explanation of how you could apply the ideas to any chart. Scott recently explained his investing philosophy to me. He believes that “the mechanism behind the market is the collective unconscious of the trading community is a whole entity existing in our universe conforming to mathematical properties like everything else. Geometry of price and time helps to reveal these underlying fundamentals of this collective energy.” We are just beginning to see what is in Scott’s fertile mind, but his work seems to be in the tradition of Gann and Elliott. Market historians will also enjoy the article by George Schade who details the origin of the Schultz AT indicator. As always, we hope you’ll tell us what you think about Technically Speaking by sending an email to editor@mta.org Sincerely, Michael Carr [post_title] => Technically Speaking, March 2012 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2012 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:21:14 [post_modified_gmt] => 2020-03-25 17:21:14 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=46670 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 401288 [post_id] => 46670 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [6] => stdClass Object ( [ID] => 47060 [post_author] => 2 [post_date] => 2011-11-15 12:00:02 [post_date_gmt] => 2011-11-15 17:00:02 [post_content] =>

LETTER FROM THE EDITOR

Our Ethics Corner feature has generated some feedback, and this month we are revisiting the first case study we presented. As expected, there is room for differences of opinion on ethics questions. In part, the growth of international membership in the MTA should guarantee some discussion on ethics. Laws differ among countries and cultural differences are greater than many assume. Perhaps the only undeniable truth in ethics is that people are not all alike. Different people hold different opinions, which is the underlying reason we have a market to trade. While cultural differences must be considered in any situation, the Standards defined in the MTA Code of Ethics are mandatory for all members and affiliates. While there may be a less strict requirement defined in local laws at times, the Code of Ethics requires that the stricter rules of the Code must be the guide. Obviously if the law is stricter than the Code of Ethics, the Code does not offer an excuse for breaking the law. We look forward to continuing discussions on ethics. It is important to our profession to hear as many opinions as possible. By understanding why some scenarios present “grey zones” we can make professional ethics stronger. Please send any comments to editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, November 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-25 13:23:13 [post_modified_gmt] => 2020-03-25 17:23:13 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47060 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 406056 [post_id] => 47060 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [7] => stdClass Object ( [ID] => 47227 [post_author] => 2 [post_date] => 2011-05-15 12:00:13 [post_date_gmt] => 2011-05-15 16:00:13 [post_content] =>

Letter from the Editor

This issue covers several basics of technical analysis. It’s often helpful to step back from the complexity we create in our field and review the time tested ideas that technical analysis has been built on. George Schade, CMT, offers a historical perspective on the widely used stochastic oscillator. He has painstakingly researched the origin of this indicator and shows us how it was developed and explains the history of the indicator. We often forget that there was time before computers and data was difficult to obtain, and very expensive when it was found. This article takes us back in time to those simpler times, which in many ways required deeper market analysis and a greater understanding of how prices moved. Phil Roth, CMT, details his recent experience of teaching technical analysis at a university. Phil is a major contributor to the course developed by the MTA Educational Foundation, and those wanting to learn more about the Foundation’s work can stop by their workshop at the Annual Symposium, or they can contact the Foundation directly. The ready-made course is a comprehensive summary of technical analysis, and is a tribute to Phil and those he worked with on its development. I am hoping to meet many of our readers at the MTA Symposium this month. My opinion is that this annual event is one of the most valuable benefits of membership, and judging from the fact that the event has sold out, I am not alone in that assessment. Please let me know when we meet what articles you’d like to see in upcoming issues of the newsletter, or email me at editor@mta.org. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, May 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 16:41:09 [post_modified_gmt] => 2020-03-11 20:41:09 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47227 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 410454 [post_id] => 47227 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [8] => stdClass Object ( [ID] => 48165 [post_author] => 2 [post_date] => 2008-12-15 12:00:35 [post_date_gmt] => 2008-12-15 17:00:35 [post_content] =>

Letter from the Editor

The content in this month’s newsletter is similar to what you’ve come to expect from us. We present very brief summaries of technical perspectives offered by expert technicians Ken Tower, Ken Winans, and Jeff Lay at a recent Trader’s Expo. A link to a video of the entire panel discussion is available on your member  homepage. Other articles include a couple book reviews and the Nominating Committee and Dow Award Committee have also provided important information. This issue of Technically Speaking represents the end of an era, and the beginning of a new one. It is the last one which will be delivered as a hard copy. Beginning in January 2009, we will be using electronic delivery to serve you better.  Initially we will be delivering the same information in a different format. Once a month, we will email a newsletter similar to the other electronic newsletters many of you now receive.  Links to each article will take you to the full text, and there will be an option to print anything you’d like to study in more detail. As soon as we can, we will add more timely updates. Interim emails will deliver short-term analysis. We will also be able to expand the quantity of material we deliver, including more reviews of books, software, and the latest products supporting technical analysts. We are excited about the changes that will come over the next few months. The quality of Technically Speaking will increase, and the value to you, the members, will be enhanced. Please feel free to offer any feedback to us as we craft your new newsletter. Email me at editor@mta.org with any ideas, requests, or articles you’d like to have published. Sincerely, Mike Carr, CMT Editor [post_title] => Technically Speaking, December 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-23 13:46:43 [post_modified_gmt] => 2020-03-23 17:46:43 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48165 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 428826 [post_id] => 48165 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [9] => stdClass Object ( [ID] => 48189 [post_author] => 2 [post_date] => 2008-11-11 12:00:53 [post_date_gmt] => 2008-11-11 17:00:53 [post_content] =>

Letter from the Editor

We had to add two more pages this month to fit all the content that we think you want and deserve as members of the Market Technicians Association. Technical analysis is a dynamic field and we all struggle to keep up with new developments. We read a lot of research and MTA news and as we prepare Technically Speaking each month, we struggle to fit in all the content that we would like to print while being constrained by our format limitations. I am working closely with the MTA staff to find the best way to deliver high-quality content, and we want to make it more timely, as well. Our goal is to deliver more value for your membership, and the staff has been very responsive in trying to do this. Their efforts are not limited to the newsletter – they look to improve the organization and our benefits as they work for us every day. So we can’t say when we’ll have a solution, but as soon as possible we will expand the information we deliver to you monthly. This month’s newsletter focuses on quantitative techniques. A few investment techniques are presented in great detail, along with back-tested results. You should be able to work with these ideas immediately and make them your own. Profitable trading ideas are one membership benefit that we hope you find among the most valuable. But in bringing you this type of research, we quickly identify the limits of our ability to present readable graphics. The charts need to improve, and that is one of the things we will accomplish as we look at different formats. Sincerely, Mike Carr, CMT Editor [post_title] => Technically Speaking, November 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-23 14:44:04 [post_modified_gmt] => 2020-03-23 18:44:04 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48189 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 429673 [post_id] => 48189 [meta_key] => newsletter_content_5_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [10] => stdClass Object ( [ID] => 48285 [post_author] => 2 [post_date] => 2008-09-15 12:00:15 [post_date_gmt] => 2008-09-15 16:00:15 [post_content] =>

Letter from the Editor

This newsletter offers an opportunity for the best technical analysts in the world to showcase their work. While we usually feature the work of experienced technicians, Technically Speaking would appreciate the opportunity to review the writings of novice analysts for possible publication. Our newsletter is distributed to about 3,000 market professionals around the world, providing a great deal of exposure for your ideas. However, lately we have had to reject several excellent articles because they provided short-term analysis. Due to the production time required for print publications, it is not possible for us to publish these types of articles. Those seeking an outlet to showcase their tradable insights should consider blogging which allows for immediate publication. Several well-known analysts have used this approach and developed large audiences. Novice analysts, as well as experts, can blog on sites like Market Education (http://www.marketedu.com/) which already has developed a community of readers. Those with the best ideas will get the most hits, and can develop their business model from there. MarketEDU even allows video blogging, which will help you prepare for that first appearance on Bloomberg or CNBC. For those within the MTA attempting to demonstrate their trading skills, many brokerages offer trading contests for futures or foreign exchange. Stock-picking prowess can be demonstrated at web sites such as Marketocracy (http://www.marketocracy.com) where traders compete in real time. Of course we’d be happy to print articles about your success and your thoughts on these competitions in this newsletter. The MTA exists to benefit it's members. Technically Speaking is one of those benefits. Hopefully we deliver research articles of interest to you. But an overlooked benefit of this publication is that it can help new members get samples of their research published. I hope more analysts will take advantage of this. Sincerely, Mike Carr, CMT Editor [post_title] => Technically Speaking, September 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-24 13:49:03 [post_modified_gmt] => 2020-03-24 17:49:03 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48285 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 430503 [post_id] => 48285 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [11] => stdClass Object ( [ID] => 48451 [post_author] => 2 [post_date] => 2008-01-15 12:00:07 [post_date_gmt] => 2008-01-15 17:00:07 [post_content] =>

From the Editor

This year marks my tenth year of involvement in MTA activities. Within months of becoming an Affiliate, I asked if I could help with the newsletter. Mike Kahn, then the editor, agreed to give me an opportunity, and that single email exchange helped me to become a market professional and CMT. I feel that writing for the newsletter was the best study tool available for CMT preparation. There are twenty committees in the MTA, and I have served on eight of them and been involved with two regional chapters. With all of those activities, the newsletter has taught me the most and allowed me to develop more technical skills than any other. But, those other commitments require time, and I need to find more of that precious commodity to  effectively serve the MTA. To do that, we need a new editor of this newsletter. The job takes about 20 hours a month, on average. Someone with excellent time management skills might be able top schedule an hour a day – that was not my experience as I usually spent all the time over several days at the last minute each month. If you are interested in helping the MTA by taking over as editor of technically speaking, please send me a note (mraketstrategist@gmail.com). We will work a smooth transition, so that you will not suffer through a steep learning curve. And, the reality is that Tim Licitra does all the hard work required to create a nice document. Sincerely, Mike Carr, CMT Editor [post_title] => Technically Speaking, January / February 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-january-february-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-24 20:09:51 [post_modified_gmt] => 2020-03-25 00:09:51 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48451 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 434633 [post_id] => 48451 [meta_key] => newsletter_content_5_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [12] => stdClass Object ( [ID] => 48464 [post_author] => 2 [post_date] => 2007-12-15 12:00:08 [post_date_gmt] => 2007-12-15 17:00:08 [post_content] =>

From the Editor

While the MTA continues to grow, the need for volunteers grows as well. All committees need more help, and there are several positions on the Board of Directors to fill in the next election. (more information on the call for nominees on the insert). Many organizations seeing the growth that we enjoy would be desperate to find enough volunteers. The MTA is not facing desperate times, we are very fortunate to have a large number of active volunteers.  Hopefully no one will think we have enough volunteers, because there is always room for more. But, we are able to maintain the same amazing level of activity that we always have even as membership has grown.  If you’re not involved, look at the web site and see if there is anything that interests you. Many committees and chapters could use more help, and with more help they can deliver more high quality services. It’s your MTA, help make it even better. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, December 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 12:03:35 [post_modified_gmt] => 2020-03-25 16:03:35 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48464 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 434979 [post_id] => 48464 [meta_key] => newsletter_content_5_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [13] => stdClass Object ( [ID] => 48612 [post_author] => 2 [post_date] => 2007-09-15 12:00:37 [post_date_gmt] => 2007-09-15 16:00:37 [post_content] =>

From the Editor’s Desk

Traders enjoy instantaneous feedback - seconds after placing a trade they know whether or not it’s working. Traders also have the ability to review their performance at any time just by checking their equity curve. In most other professions, an annual employee performance review is the only feedback available. In large corporations, it is possible to spend 364 days in a delusional bliss, only to learn on appraisal day that they have failed miserably at supporting corporate objectives. As editor of your newsletter, I must admit it would be great to receive constant feedback on whether or now we are meeting your needs. But, we rarely hear from the more than 2,600 recipients of Technically Speaking, and we are wondering if we are doing well or enjoying an extended period of delusional bliss. This month, we thought we’d ask for feedback, and we hope to hear from everyone. Feedback of any kind is welcome: just send an email to editor@mta.org. For those thinking they have nothing to say, consider answering any, or all, of these questions: Thanks! We’ll report back on what we learn and will incorporate all constructive feedback that we receive. Sincerely, Mike Carr, CMT Technically Speaking Editor [post_title] => Technically Speaking, September 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 19:42:57 [post_modified_gmt] => 2020-03-25 23:42:57 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48612 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 442020 [post_id] => 48612 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [14] => stdClass Object ( [ID] => 48684 [post_author] => 2 [post_date] => 2007-05-15 12:00:16 [post_date_gmt] => 2007-05-15 16:00:16 [post_content] =>

From the Executive’s Desk

The spring CMT examination “window” is from April 25 - May 5, 2007. The entire MTA Staff would like to wish all of the CMT Exam test takers the best of luck. During this tough and stressful time, feel free to contact us with any questions or concerns. This month we have a very special event, the Annual Education Seminar. Being held in New York City from May 18th-19th, we have some of the finest technicians presenting on a wide array of topics. We strongly urge our membership to try and attend, especially those in the NY area. I would also like to thank our sponsors, TradeStation, ProShares, Fidelity, Bloomberg, and eSignal for contributing to what is shaping up to be a sensational event. I would also like to thank those of you who have mailed back your proxy cards for the Board vote. For those of you that have not done so, please try and have your proxy mailed to us  by May 17th. Your input is important to the MTA! The voting proxy cards will be counted at the MTA’s Annual Meeting, held on May 20th, at 10:15 AM EST. All of you are invited to attend this meeting, and to join us at the MTA Headquarters for an open house and breakfast earlier that morning (9:00 AM - 10:15 AM). I look forward to the opportunity to seeing you at these two important MTA events. Sincerely, Tom Silveri MTA Executive Director [post_title] => Technically Speaking, May 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 15:17:52 [post_modified_gmt] => 2020-03-26 19:17:52 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48684 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 443383 [post_id] => 48684 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [15] => stdClass Object ( [ID] => 51962 [post_author] => 2 [post_date] => 2006-11-15 12:00:39 [post_date_gmt] => 2006-11-15 17:00:39 [post_content] =>

From the Editor’s Desk

As always, the MTA is busy. Staff and volunteers are continuing with preparations for the upcoming Seminar. Graders are preparing to review the growing number of CMT tests. Daily operations continue to increase at an ever quickening pace. This issue of the newsletter reflects that activity and presents some interesting research on techniques of technical analysis. On the cover, Rob Brand, CMT, takes a new look at volume and analyzes institutional fund flows. He concludes that studying this data is useful, and provides a viable framework to incorporate the data into your own market studies. Looking inside the newsletter, on page 8, we publish a short study by Lawson McWhorter, CMT, looking at the volume generated by retail investors. He uses data recently made available by the New York Stock Exchange that was announced in the June Issue of Technically Speaking. His conclusion is that the usefulness of retail data in the current market environment is limited. I hope you’ll read both studies, and maybe consider doing your own work in this area. We are always happy to publish the results of your studies. I hope you enjoy this issue, and look forward to hearing about what you’d like to see in upcoming issues. Cordially, Mike Carr, CMT Editor, Technically Speaking [post_title] => Technically Speaking, November, 2006 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2006 [to_ping] => [pinged] => [post_modified] => 2020-08-04 13:48:54 [post_modified_gmt] => 2020-08-04 17:48:54 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=51962 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 532367 [post_id] => 51962 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) [16] => stdClass Object ( [ID] => 52524 [post_author] => 2 [post_date] => 2005-02-15 12:00:44 [post_date_gmt] => 2005-02-15 17:00:44 [post_content] =>

From the Editor’s Desk

Last month’s newsletter included an article by William Sarubbi, MBA, CMT entitled, “First-ofthe-Month Bias Continued.” This short research piece updated some work originally done by Arthur Merrill, CMT. Shortly after that issue was sent to the publisher, Arthur Merrill passed away. We are fortunate that he left us with a lifetime of work to update, and due to the statistical rigor he applied to indicators, we should expect to find that his work is just as valid today as it was when he undertook his efforts. In this month’s newsletter, we present some  insight to the great life Arthur lived. Next month, we hope to be able to publish a very small amount of his original work. Arthur tested more ideas than most of us will have in our lifetimes. Robert Colby, CMT, is an authority on indicators, having written an extremely detailed book on the subject, The Encyclopedia of Technical Market Indicators. In that book, Arthur Merrill is cited 23 times in the index, more than twice as often as any other individual, and second only to Ned Davis Research, an entire company dedicated to market research. We also have a summary of the recent brainstorming session in San Diego and a biography of Garfield Drew along with examples of several indicators and their applications to the stock market. We hope you enjoy this issue. Cordially, Mike Carr, CMT Technically Speaking Editor [post_title] => Technically Speaking, February, 2005 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2005 [to_ping] => [pinged] => [post_modified] => 2020-08-17 13:06:47 [post_modified_gmt] => 2020-08-17 17:06:47 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=52524 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 548518 [post_id] => 52524 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:4:"1574";} ) )

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