public

Molly Schilling

Molly Schilling

Molly Schilling is an independent trader and freelance writer. Molly has been a member of the MTA since 2005.

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On the Campus

This month, instead of A Letter from the Executive Director and from the Editor, we have decided to provide you with an update from the MTA Educational Foundation. This new column is one we are looking to run frequently in upcoming issues of Technically Speaking.

The MTA Educational Foundation at Howard University

Fred Meissner, Charlie Kirkpatrick, and I, Phil Roth, all lectured at Howard University this spring. Prof. William Barbee, in the business school at Howard University, has been conducting a course in technical analysis for a number of years. The MTAEF has been assisting him with guest speakers. I have been giving a lecture in sentiment and supply/ demand indicators for four years. I spoke this year on April 22, using a Powerpoint presentation that the MTAEF developed. I have made presentations at many colleges and universities, including, among others Tulane, Cornell, Georgia Tech, Baruch, and the University of Texas, and have been conducting my own course in the Graduate School of Business at Fordham University in New York for six years. I am always impressed by the caliber of students at Howard, and their interest in the markets and technical analysis. Prof. Barbee helps generate the interest by asking questions about the indicators and the sources of the data. Fred Meissner: A couple of week’s ago, I had the pleasure of teaching at Howard University. I have been teaching a class at this school for several years, and really enjoy Dr. Barbee and the students. The class is scheduled for the end of the day and I almost always run over time because the interest level of the students is so high. I usually teach the Intermarket analysis module of the course, but as always we had a fairly wide ranging discussion – Dr. Barbee’s students are almost always well prepared and are interested both in the material as well as the markets themselves. Because they are well versed in the fundamentals they keep me on my toes! It is tremendously rewarding to teach a class in Technical Analysis. When I started in the business back in 1983 there were no such classes, and unless one was lucky enough to find the right books, or find a mentor, knowledge was almost impossible to come by. One of the reasons that I became involved in the MTA way back when was to help others learn and to spread the word. Readers may recall that my first big job with the association was as Regions Chair. It still excites me to see chapters I helped to form going strong, and now providing teachers for the MTA course. All CMT’s, and older, experienced members, should consider volunteering as a teacher. It is a great way to give back to the community, and to spread the knowledge that has been so rewarding to all of us. Charlie Kirkpatrick: Professor William C. ‘Kip’ Barbee has taught technical analysis for many years as a full credit course in the Howard University School of Business. Kip is known for several research papers on relative earnings, value, and price strength and has been published frequently in academic journals. Howard University is the premier African-American university and is located in Washington DC. As part of the MTA Educational Foundation effort to help universities in teaching technical analysis, I had the privilege of lecturing to Professor Barbee’s class this spring on the subject of price patterns. Approximately 30 students attended the class, the full number enrolled. The students were asking numerous questions and showed extreme interest in how to use patterns to profit. Indeed, the enthusiasm was so high, I didn’t get to finish the talk but ran out of time. Professor Barbee was thrilled, as was I, to see such excitement over technical analysis. [post_title] => Technically Speaking, May 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-24 17:59:35 [post_modified_gmt] => 2020-03-24 21:59:35 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48383 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 432788 [post_id] => 48383 [meta_key] => newsletter_content_7_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"1253";} ) [1] => stdClass Object ( [ID] => 48410 [post_author] => 2 [post_date] => 2008-04-15 12:00:12 [post_date_gmt] => 2008-04-15 16:00:12 [post_content] =>

From the Editor

This is an interesting time for technicians and we try to present some examples of that in this month’s newsletter. The collapse of Bear Stearns took its chairman by surprise, according to the testimony he delivered to Congress. Could the charts have provided a clue to the stunning events that impacted that company? We reproduce two charts and ask for your input on that question. If you had an indicator that warned of the carnage in that stock, please let us know and we will publish the details in coming issues. A chart of housing prices is as bearish as the chart of Bear Stearns. We also have a chart of an index to track that market created by MTA Member Ken Winans. Can technical analysis be applied to this market? If so, perhaps an argument can be made that we are oversold. Again, we’d like to know of any analytical tools that you’ve applied in housing, or other nontraditional markets. We also have an interview with Dave Keller, a few other articles and some MTA business included in this month’s newsletter. Details for the Annual Meeting and one-day Symposium in New York are still being finalized, but the Seminar Committee is working to bring the best minds in the business to the Bloomberg Building. In coming issues, more information about speakers will be available. Tentatively, Ralph Vince is scheduled to be the keynote speaker. For those unfamiliar with his work, the December 2007 issue of Technically Speaking including an interview with Ralph and a review of his comprehensive book on money management. Sincerely, Mike Carr, CMT Editor [post_title] => Technically Speaking, April 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-april-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-24 19:02:58 [post_modified_gmt] => 2020-03-24 23:02:58 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48410 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 433014 [post_id] => 48410 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"1086";} ) [2] => stdClass Object ( [ID] => 48431 [post_author] => 2 [post_date] => 2008-03-15 12:00:18 [post_date_gmt] => 2008-03-15 16:00:18 [post_content] =>

From the Editor

Just like every other function within the MTA, the newsletter is poring over the results of the Member Survey and will be changing to meet the needs of the membership. Two trends that jump out in the initial review are the growing international membership and the increased number of younger members. We intend to respond with more articles about markets outside the US and increasing the variety of technical analysis topics we cover. As we do this, we will keep in mind the fact that our readers are professionals. You aren’t reading Technically Speaking for articles like “What is RSI?” We think you want actionable information that builds on the basics. Advanced topics, requiring detailed explanations, are covered in the Journal of Technical Analysis. That leaves intermediate-level topics for the newsletter, and we will strive to deliver them in the months ahead. Often, as in this month’s issue, we will include charts, the tool that has been a staple of technical analysis for decades. Knowing that you are professionals, we print charts that provide a general idea of the topic. Cost prevents us from printing high resolution graphics and we realize that the vast majority of our readers can call up any chart on their computer terminals in seconds. As we work to bring you more TA, and more charts, we ask that you recognize our purpose is to provide research ideas, not specific trading tactics. I look forward to the improvements we have planned in coming months and, as always, appreciate your feedback. Cordially, Mike Carr, CMT MTA Newsletter Editor [post_title] => Technically Speaking, March 2008 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-march-2008 [to_ping] => [pinged] => [post_modified] => 2020-03-24 19:44:48 [post_modified_gmt] => 2020-03-24 23:44:48 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48431 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 433705 [post_id] => 48431 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:3:"956";} ) [3] => 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] => 434459 [post_id] => 48451 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"1121";} ) [4] => 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] => 434836 [post_id] => 48464 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"2518";} ) [5] => stdClass Object ( [ID] => 48587 [post_author] => 2 [post_date] => 2007-11-15 12:00:01 [post_date_gmt] => 2007-11-15 17:00:01 [post_content] =>

From the Nominating Committee

Dear Members, Honorary Members and Emeritus Members, Every year, the Nominations Committee chooses the slate for the Board of Directors that everyone eventually votes on at our MTA Annual Meeting (next Annual meeting in May-June, 2008). While thanking previously members who have served, the Committee is now totally open and I therefore need to hear from Members, Honorary Members and Emeritus Members who would like to serve on this important committee. It is not too cumbersome a job but it is a key one since you will chose potential Board members that ultimately drive and lead the MTA in the future. For a more detailed explanation of the MTA Nominating Committee and its processes, please refer to the MTA By-Laws, Section BL 7.02 E. (Can be found in the “Mission” Section of our web-site). I encourage all Members to apply, especially those Members outside the USA. I would really like to see this Committee reflect the diversity of the MTA membership. Would all those interested please drop me an email with a very brief explanation of why you would like to serve and just a little about your background. Please contact me at nominations@mta.org Thank you, Jordan Kotick, CMT Nominating Committee Chair & Board Member [post_title] => Technically Speaking, November 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 17:44:46 [post_modified_gmt] => 2020-03-25 21:44:46 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48587 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 441431 [post_id] => 48587 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"1890";} ) [6] => stdClass Object ( [ID] => 48598 [post_author] => 2 [post_date] => 2007-10-15 12:00:38 [post_date_gmt] => 2007-10-15 16:00:38 [post_content] =>

A Letter from the MTA Seminar Chair

This month, instead of A Letter from the Editor’s Desk, we have decided to provide you with an update on the MTA’s upcoming Mid-Winter Retreat by Seminar Chair Tim Snavely, CFA, CMT. MTA Membership: I am pleased to invite you to join us this year for our 2008 MTA Mid-Winter Retreat - a high quality, advanced topics, learning and networking event set on the gorgeous Florida Gulf Coast. This year’s Retreat will be held January 25th and 26th at the fabulous Don CeSar, a Loew’s Hotel, and it will feature: Please stay tuned for more information, and be sure to review the itinerary. There is no better place to be this January 25th and 26th than St. Pete Beach, Florida - so plan ahead and act now to take advantage of this opportunity, and the low pre-registration rate available for only a short time. For more information or to register, go to www.mta.org, or contact Tim Licitra, MTA Marketing Services Coordinator, at (646) 652-3300. Sincerely, Tim Snavely, CFA, CMT MTA Board Member & Seminar Chair [post_title] => Technically Speaking, October 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-october-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-25 18:37:36 [post_modified_gmt] => 2020-03-25 22:37:36 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48598 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 441783 [post_id] => 48598 [meta_key] => newsletter_content_3_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:5:"48606";} ) [7] => stdClass Object ( [ID] => 48644 [post_author] => 2 [post_date] => 2007-07-15 12:00:22 [post_date_gmt] => 2007-07-15 16:00:22 [post_content] => * Due to time sensitive submissions, there will not be a letter from the Executive Director or Editor this month. * [post_title] => Technically Speaking, July 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-july-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 13:06:08 [post_modified_gmt] => 2020-03-26 17:06:08 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48644 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 442688 [post_id] => 48644 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:4:"2544";} ) [8] => stdClass Object ( [ID] => 48667 [post_author] => 2 [post_date] => 2007-06-15 12:00:16 [post_date_gmt] => 2007-06-15 16:00:16 [post_content] =>

From the Executive’s Desk

I am pleased to report that we had one of our most successful Education Seminars (May 18-19, 2007) to date! Our Seminar was well attended and from the results of the surveys, it was well received by the participants. We are always anxious to make constant improvements to our Seminar experiences and we will be reviewing all suggestions carefully and adjusting our Seminar formats to provide the best experience for our participants. Two things you will easily see as adjustments recently made by the MTA: Lastly, we are working hard “behind the scenes” on seeing what we can do to expand member knowledge concerning the current job market environment. We have randomly  conducted some surveys (selectively so as not to overload members with e-mail), explored possibilities for adjustments and will be executing some activities in this area within the next quarter. Sincerely, Tom Silveri MTA Executive Director [post_title] => Technically Speaking, June 2007 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-june-2007 [to_ping] => [pinged] => [post_modified] => 2020-03-26 13:40:53 [post_modified_gmt] => 2020-03-26 17:40:53 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=48667 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 443023 [post_id] => 48667 [meta_key] => newsletter_content_3_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:5:"48674";} ) [9] => 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] => 443475 [post_id] => 48684 [meta_key] => newsletter_content_4_contributor [meta_value] => a:1:{i:0;s:5:"48405";} ) [10] => 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] => 443585 [post_id] => 48698 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:3:"904";} ) [11] => 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] => 443838 [post_id] => 48706 [meta_key] => newsletter_content_4_contributor [meta_value] => a:2:{i:0;s:5:"48405";i:1;s:3:"904";} ) [12] => 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] => 532186 [post_id] => 51962 [meta_key] => newsletter_content_2_contributor [meta_value] => a:2:{i:0;s:5:"48606";i:1;s:5:"48405";} ) [13] => stdClass Object ( [ID] => 51998 [post_author] => 2 [post_date] => 2006-09-15 12:00:05 [post_date_gmt] => 2006-09-15 16:00:05 [post_content] =>

From the Editor’s Desk

This month we introduce Contributing Editor Molly Schilling, an MTA affiliate. In this issue, you’ll find Part 1 of her In-Depth interview with Josh Rosen. Molly did an outstanding job providing insight into the mind and work of a New York Stock Exchange Specialist with Kellogg Group. As a market maker on the floor of the NYSE, Josh is one of the people responsible for ensuring traders can trade. What and how he thinks may lead to insights that help us trade better. During the May Seminar in New York I had the chance to ask Josh why the floor at every exchange is always gunning for my stops. He had a very Michael Corleone-like expression as he told me it was nothing personal, just business. Stops tend to be clustered and it’s his role to provide liquidity. He must assume that we want trades to occur at the stop prices, and he is only doing his job when he allows me to exit my long at the low of the day. He also pointed out that in the very short term, stop points usually represent good buy or sell prices. When you think about it, stops are support and resistance and as traders, we expect bounces at these levels. From that conversation, I learned to place wider stops. The losses are bigger when they are hit, but they are hit less often. Overall, that short talk with Josh has helped me to become a little more profitable. And, conversations like that represent the largest part of the value of my MTA membership. In coming months, Molly will be offering more insights into the minds that make the markets. Hopefully we can all learn a little from each of her skillful interviews. As always, I hope you learn a great deal from this issue of Technically Speaking. Sincerely, Mike Carr, CMT Editor, Technically Speaking [post_title] => Technically Speaking, September, 2006 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2006 [to_ping] => [pinged] => [post_modified] => 2020-08-04 16:13:36 [post_modified_gmt] => 2020-08-04 20:13:36 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=51998 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 533089 [post_id] => 51998 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"48606";i:1;s:5:"48405";} ) )

Contributions