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Matthew Caruso, CMT

Matthew Caruso, CMT

Matthew Caruso, CMT is a senior pro equity trader for National Bank financial as well as president of the Canadian Society of Technical analysts. He is past adjunct professor and co-creator of Canada’s first fully accredited technical analysis course at Concordia University located in Montreal.

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Letter from the Editor

Technical analysis has a rich, and little studied, history. MTA members are doubtlessly aware of this and understand that their membership helps them unlock a great deal of the available history. Thousands of books fill the shelves of the MTA library, some of them are the original works in their field of study. This is one of the most popular benefits of membership. As technology changed, the historical archive of any field has expanded to include videos as well. Taking advantage of the leading edge of technology, the MTA has captured the thinking of some of the leading technicians in the world and provides videos of these presentations. In recent issues of Technically Speaking, we have been featuring video presentations that are available in the archives section of the member’s section of the MTA web site. We believe there is great value in reviewing these and find that the true principles of technical analysis are timeless. Spending an hour looking at the current thinking of technicians from the time of a market bottom or top shows not only how they thought then, but with the advantage of hindsight you also know if it worked. That allows you to adapt that thinking to the market, learning from both what worked and what didn’t work. We’ve long recognized that these resources help us to become better technicians. Recently, the MTA Board of Directors adopted a voluntary Continuing Education program that formally recognizes the role of the library and the video archives. You can now earn CE credits for reading the classic works in our field and studying the video presentations of some of the best minds in our industry. Most members will easily meet the goals of this program without making any changes in their professional development program. There are many benefits of MTA membership, and the chance to learn so much about technical analysis from a variety of tools is only one of them. As always, we hope you consider this newsletter to be another valuable benefit of membership. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, February 2011 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2011 [to_ping] => [pinged] => [post_modified] => 2020-03-11 18:28:32 [post_modified_gmt] => 2020-03-11 22:28:32 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=47295 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 411979 [post_id] => 47295 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:5:"47303";i:1;s:4:"7251";} ) [1] => stdClass Object ( [ID] => 48120 [post_author] => 2 [post_date] => 2009-03-15 12:00:58 [post_date_gmt] => 2009-03-15 16:00:58 [post_content] =>

Letter from the Editor

In this issue of Technically Speaking, we provide a great deal of information on market breadth. An interview with well known technician Dick Arms provides insight into the work and current thinking of an industry legend. Several articles detail a small part of the work of Dr. Humphrey Lloyd, unknown to the majority of technicians. Although trained as a pathologist, he has written widely on technical analysis and has developed unique and useful indicators. In learning about Dr. Lloyd’s work, I personally was struck by the similarity to the life of a technician who came to the field late in life but produced more than many others who spend their whole lives researching market action – Arthur A. Merrill, CMT. Both enjoyed great success in their original profession. Both brought the skills they employed in that profession to the markets. Both men were prolific authors, sharing their knowledge with all who wished to learn. But the most defining characteristic of both is that they can best be described as “gentlemen.” This is an adjective that few aspire to in the current environment. Wall Street is more associated with greed than anything else today. But there are still gentlemen and gentlewomen in our field, and I strongly urge the young technicians to reach out to them and learn about technical analysis, and life, from these examples of the life well lived. Sincerely, Mike Carr, CMT [post_title] => Technically Speaking, March 2009 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2009 [to_ping] => [pinged] => [post_modified] => 2020-03-21 17:59:42 [post_modified_gmt] => 2020-03-21 21:59:42 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48120 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 428371 [post_id] => 48120 [meta_key] => newsletter_content_9_contributor [meta_value] => a:1:{i:0;s:5:"47303";} ) [2] => 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] => 441987 [post_id] => 48612 [meta_key] => newsletter_content_1_contributor [meta_value] => a:1:{i:0;s:5:"47303";} ) [3] => stdClass Object ( [ID] => 48698 [post_author] => 2 [post_date] => 2007-04-15 12:00:34 [post_date_gmt] => 2007-04-15 16:00:34 [post_content] =>

From the Editor’s Desk

In recent months, this newsletter has included articles about volunteering and highlighted the benefits you’ll see from being involved. Michael Kahn, Fred Meissner and Larry Berman have written about how much they enjoyed being involved in the MTA. These three talented individuals would have doubtlessly succeeded in this business even without the MTA. But, I certainly would not have been able to attain my career goals without the MTA. A month after I joined the MTA, nearly ten years ago, Michael Kahn, then-editor of Technically Speaking, allowed me to prepare one page summaries of the New York MTA meetings. Each month, I forced myself to learn enough about the speaker’s area of expertise to write a concise review, making me a better technician. I would not have passed my CMT tests without this exposure to all aspects of technical analysis. Another benefit of this writing came when the newsletter arrived in my mailbox each month, and I analyzed each of Michael’s helpful edits. If you’re reading this, Michael, thanks for making me a better writer. Eventually, I became your editor, and that has allowed me to call and email many of you to see if you can submit something. If I haven’t gotten to you yet, please feel free to send me your articles at any time. I have also had the opportunity to serve on the Nominating Committee and the Journal Committee. Committee work requires a small amount of time and a great deal of interaction with fellow members. In other words, I’ve enjoyed talking to the best and brightest in the field and learned an incredible amount by listening to their decades of accumulated wisdom. I firmly believe that experience is the best teacher. I have just found that sometimes it’s less expensive to learn from someone else’s experience. My involvement in the MTA has allowed me to learn from the experience of true giants in the field of technical analysis. I urge you to look at what you can do within our organization. The MTA will be stronger with your help, and you’ll grow as a technician through your work alongside fellow volunteers. Sincerely, Mike Carr, CMT Editor, Technically Speaking [post_title] => Technically Speaking, April 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-april-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 17:05:19 [post_modified_gmt] => 2020-03-26 21:05:19 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48698 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 443605 [post_id] => 48698 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:5:"47303";} ) [4] => stdClass Object ( [ID] => 48706 [post_author] => 2 [post_date] => 2007-03-15 12:00:09 [post_date_gmt] => 2007-03-15 16:00:09 [post_content] =>

From the Executive’s Desk

The primary objective of any successful Association is to ensure its membership receives value. The MTA is off to an excellent start in 2007 to providing that value. Over the course of the last month, the MTA has provided free seminars to its membership on the following topics: In addition, through a combination of collaborative agreements with trade publishers, additional MTA purchases and ongoing donations from Members, we have considerably added to the depth and current nature of our library material. See some of the new additions in this publication or check in the library section of our MTA.org website. And, of course, we continue to provide local chapter meetings (with an increasing number on our website, our annual Journal and our monthly Newletters. In this publication you will see information from 3 MTA Presidents - Current President Phil Roth, CMT, Former President Ralph Acampora, CMT, and Former President Phil Erlanger, CMT. Finally, we are in the process of planning for the May Annual Education Seminar, which will take place on May 18-19th in NYC. We are planning an Education Track and Advanced Lecture Track, a market forecast panel, etc. with some of the industry’s most notable speakers. Be on the lookout for information regarding this seminar and please join us. I am confident it will be a worthwhile event for all who attend. Sincerely, Tom Silveri MTA Executive Director [post_title] => Technically Speaking, March 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 19:26:49 [post_modified_gmt] => 2020-03-26 23:26:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48706 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 443785 [post_id] => 48706 [meta_key] => newsletter_content_3_contributor [meta_value] => a:2:{i:0;s:5:"47303";i:1;s:3:"819";} ) [5] => stdClass Object ( [ID] => 48717 [post_author] => 2 [post_date] => 2007-02-15 12:00:44 [post_date_gmt] => 2007-02-15 17:00:44 [post_content] =>

From the Executive’s Desk

The month of January traditionally sees the start of many initiatives as attention turns to the New Year. The MTA is no different. This past month saw the culmination of several initiatives that was in process and the start of some exciting new initiatives. Let me describe them for you. On the completed side This month, we “kicked-off” several initiatives On the Horizon

Be on the lookout for announcements on these sessions and please sign-up early.

Be on the lookout for announcements on these sessions as well and again, please sign-up early. Sincerely, Tom Silveri MTA Executive Director [post_title] => Technically Speaking, February 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2007 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:01:27 [post_modified_gmt] => 2020-08-03 15:01:27 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48717 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 443935 [post_id] => 48717 [meta_key] => newsletter_content_0_contributor [meta_value] => a:2:{i:0;s:5:"47303";i:1;s:3:"819";} ) [6] => stdClass Object ( [ID] => 51942 [post_author] => 2 [post_date] => 2006-12-15 12:00:27 [post_date_gmt] => 2006-12-15 17:00:27 [post_content] =>

From the Editor’s Desk

In recent issues I have repeatedly asked for input from the membership, and this month you see that the response has been very positive. On the cover, we present a rather detailed piece by Joe Russo in which he analyzes several world markets. For many, the most interesting part of this article will be his comparison of arithmetic versus logarithmic scaling on charts. Joe raises several interesting points, and supports his ideas with examples. It’s exactly the kind of work that needs to be done in technical analysis. For reasons I have never understood, chart scaling can become an emotional topic among technicians. Joe simply presents facts with charts, the essence of technical analysis at it’s finest. Kim Husebye, CFA, CMT, also combines facts and charts in a shorter piece, fully exploring the Kondratieff Wave, an interesting theory familiar to most technicians. Kim’s short analysis should lead to some tradable insights with only a little thought. After entering a trade based upon your interpretations of one of those articles, Matthew Caruso presents some thoughts on when to exit a trade. His work also combines well-written theory with charts illustrating his ideas. Finally, from the membership, we received a book review from Scott Richter, CFA, CMT. There is also a lot happening within the MTA, and that is covered in this month’s newsletter. I hope that you’ll enjoying reading Technically Speaking, and we all hope that you will enjoy the upcoming holiday season. Cordially, Mike Carr, CMT Editor [post_title] => Technically Speaking, December, 2006 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-2006 [to_ping] => [pinged] => [post_modified] => 2020-08-04 13:00:26 [post_modified_gmt] => 2020-08-04 17:00:26 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=51942 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 531962 [post_id] => 51942 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:5:"47303";} ) )

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