Lance McDonald, CMT

Lance McDonald, CMT

Lance McDonald, CMT is a technical analyst at Lexington Capital, LLC, which he founded in 2011. Lance has been investing in stocks, futures, and FOREX since 2003, and has been publishing market views since 2006. Prior to the creation of Lexington Capital, LLC, Lance worked for an institutional investment firm where he was responsible for marketing investment strategies and providing technical market research on a $3 billion fixed income investment portfolio. Lance received MBA in Finance from the University of St. Thomas.

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Magazine covers are a widely followed market indicator. Paul MacRae Montgomery first noted the link between covers and markets and explained that popular media can be a contrary indicator of the markets. Covers have also been the subject of academic research that supported their use as an indicator. A 2007 paper by three University of Richmond professors, Are Cover Stories Effective Contrarian Indicators, “study found a statistically significant correlation between appearance on the cover of one of the magazines and the subsequent performance of the company's stock.” This month, Tom Vician provides a survey of the magazine indicator with a number of charts. Technical analysis is built on charts and Tom’s work is helpful for technicians who want to understand this indicator in historical context. We conclude this issue with a classical interpretation of charts prepared by Susan Berger, who learned to analyze charts while working for John Edwards. Her work shows how durable the basic principles of technical analysis are and how ideas contained in books written nearly seventy years ago are still relevant. If you would like to comment on Technically Speaking or share your work with the MTA membership, please email us at Michael Carr [post_title] => Technically Speaking, November 2013 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2013 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:33:23 [post_modified_gmt] => 2020-08-03 15:33:23 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 381574 [post_id] => 45393 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:5:"28223";} ) [1] => stdClass Object ( [ID] => 47280 [post_author] => 2 [post_date] => 2011-03-15 12:00:51 [post_date_gmt] => 2011-03-15 16:00:51 [post_content] =>

Letter from the Editor

This month, we are simply highlighting the success of technical analysis. The MTA remains at the forefront of the field and its general acceptance throughout the investment community. In this issue, the success of another regional seminar is detailed. These one-day seminars play host to over 200 attendees and will undoubtedly continue to be well-attended wherever they are held. We also feature an article highlighting the technical analysis of noted analysts Jeremy Grantham and David Rosenberg. While Grantham may not admit to being a technician, his work is easily recognized to members of the MTA as technical analysis. Rosenberg has a large audience and frequently offers technical analysis, helping to increase the acceptance of technical analysis among institutional investors. It seems obvious now that the widespread acceptance of technical analysis in the investment community took a giant step forward when the CMT exam process was introduced. Two articles detail parts of that process: Lance McDonald describes studying and Brad Herndon describes grading. Academia frequently looks at technical concepts and uses different terms to describe well-know concepts. As one example, academic papers about momentum are easily recognized as relative strength strategies by practitioners of technical analysis. An article by George Rahal bridges the divide between behavioral finance (in academic terms) and technical analysis. Please let us know what you’d like to see in future issues of Technically Speaking. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, March 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 17:55:30 [post_modified_gmt] => 2020-03-11 21:55:30 [post_content_filtered] => [post_parent] => 0 [guid] => [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 411372 [post_id] => 47280 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"28223";} ) )