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Ron Meisels

Ron Meisels

Ron Meisels is Founder and President of Phases & Cycles Inc. with over 50 years of stock market experience.  He specializes in the independent research of Canadian and U.S. securities and market using Behavior Analysis.  Institutions ranked him among the top three analysts for six consecutive years (Brendan Wood Survey).  He is a frequent guest on the Business News Network (BNN) and is frequently quoted in major financial media such as Barron’s, The Globe & Mail, The National Post, Les Affaires, Bloomberg, Canadian Press, etc.  He is the Founder, first President and Honorary Lifetime Member of the Canadian Society of Technical Analysts (CSTA); founding Secretary and past Director of the International Federation of Technical Analysts (IFTA); first Canadian recipient of the A. J. Frost Award; and developer of the “Meisels Index”, an overbought/oversold indicator based on daily closings.  It is featured on the Metastock system. To learn more, please visit Phases-Cycles.com.

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LETTER FROM THE EDITOR

In recent issues, we have been highlighting content from the Annual Symposium. As I noted last month, “That meeting lasts just a few days but it truly does provide months’ worth of ideas for attendees.” In this month’s issue of Technically Speaking we highlight how local Chapter meetings can also provide ideas to improve your analysis.  The Denver Chapter recently hosted a meeting on back testing and the discussion included best practices related to data. A summary of that presentation kicks off this month’s issue. In researching this topic further, I discovered the value of using data free from pre-inclusion bias. Testing by Cesar Alvarez is included in this issue to quantify that problem. As Cesar notes, “People often write about systems they have developed using the current Nasdaq 100 or S&P500 stocks and have tested back for 5 to 10 years. Looking at this table shows that one should completely ignore those results. The difference between the two results is scary. Using the current list would make one think that they had a great system but actuality it was much worse.”  Histest results are included in the article. This month’s also issue also includes some quantified data about the best time of day to trade ETFs along with some articles making a convincing bearish case for U.S. stocks. For those wondering where to turn in a bear market, the answer could be in preferred stocks as data from Global Financial Data shows in another article.  We hope you find some valuable information in this month’s magazine.  Please send any comments on Technically Speaking to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, October 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-october-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:21:15 [post_modified_gmt] => 2020-08-03 15:21:15 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=43959 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 354855 [post_id] => 43959 [meta_key] => newsletter_content_13_contributor [meta_value] => a:2:{i:0;s:5:"42693";i:1;s:5:"42695";} ) [3] => stdClass Object ( [ID] => 44248 [post_author] => 35924 [post_date] => 2015-05-15 12:00:41 [post_date_gmt] => 2015-05-15 16:00:41 [post_content] =>

LETTER FROM THE EDITOR

Ethics is the lead story in this month’s magazine. The MTA is adopting a large body of knowledge related to all areas of finance through a licensing agreement with the CFA Institute. All finance professionals, whether they analyze fundamental, quantitative or technical data, share common goals (finding profitable opportunities) and share a common operating environment. Given all of the commonalities, it’s not surprising we share the same ethical requirements. This new body of knowledge will not require members of the MTA to change anything they do professionally. The original MTA Code of Ethics was comprehensive and covered all of the important standards of professional behavior. The shortcoming was a lack of case studies and examples of how to apply the Code. This licensing agreement makes all of the CFAI’s Code and Standards developed over several decades available to MTA members. For CMT candidates, this licensing agreement provides clear readings which will make studying for the exam a more efficient process. In short, there are no changes required of MTA members to meet the requirements of the new Code and Standards. One benefit is that there are now examples of how to apply ethics in everyday situations. Another benefit is the clear material that CMT candidates will have to study ethics so that there will be no surprises on the exam related to ethics. In short, we have found a risk-free opportunity to partner with the CFA Institute and we are excited to begin the next stage of the MTA’s growth. We also have articles related to the tools technicians use to analyze the markets and the techniques they apply to find profitable trading opportunities. As always, we welcome your feedback on what you would like to see in future issues of Technically Speaking. Please let us know by emailing us at editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, May 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-may-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:41 [post_modified_gmt] => 2020-08-03 15:31:41 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44248 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 360877 [post_id] => 44248 [meta_key] => newsletter_content_14_contributor [meta_value] => a:1:{i:0;s:5:"42695";} ) [4] => stdClass Object ( [ID] => 44447 [post_author] => 35924 [post_date] => 2015-02-15 12:00:44 [post_date_gmt] => 2015-02-15 17:00:44 [post_content] =>

LETTER FROM THE EDITOR

This year marks the 42nd anniversary of the MTA. We tend to ignore anniversary years unless they end in 0 or 5 but each year is important to the organization. Each of the past 42 years has presented the MTA with opportunities for growth along with occasional challenges that have to be met. The fact that we are now nearly 42 years old as an organization is a tribute to the volunteers who have led the MTA. Most of us rarely think about the leadership of the MTA. That fact indicates that they are doing an outstanding job because we tend to worry only about major problems. No major problems means no worries about the MTA. This month, I’d like to join Dave Keller, CMT, and Past President of the MTA in asking you to think about our organization’s leadership. In particular, as Dave notes, it’s time to nominate individuals to serve on the Board of Directors. Individuals in these positions will help set the pace for growth in the next 42 years. If you know of the right person to meet that responsibility, please nominate them. Getting the best people involved in the MTA has allowed most of us to ignore the problems that the Board solves effortlessly while keeping us on the right path. Please submit your recommendations to nominations@mta.org and help us to continue growing the MTA. Sincerely, Michael Carr [post_title] => Technically Speaking, February 2015 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-february-2015 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:30:26 [post_modified_gmt] => 2020-08-03 15:30:26 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44447 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 365360 [post_id] => 44447 [meta_key] => newsletter_content_11_contributor [meta_value] => a:1:{i:0;s:5:"42695";} ) [5] => stdClass Object ( [ID] => 44747 [post_author] => 35924 [post_date] => 2014-09-15 12:00:58 [post_date_gmt] => 2014-09-15 16:00:58 [post_content] =>

LETTER FROM THE EDITOR

This month we are including a number of charts. As technicians, it is a relatively simple matter to generate charts. The challenge is to create meaningful charts. We think the authors of the charts in this month’s newsletter accomplished that. Each of the charts presented in this issue can be studied to develop new insights into the markets. Many members enjoy obtaining information on career opportunities. We try to include that information in the newsletter when we can and will be including more information in the next few months about the QGLDX Trading Strategy Contest. This contest has a rigid, quantified process that allows money managers to demonstrate their skill and to obtain a oneyear exclusive contract to trade at least $1 million in assets. We also have a news release from a company that has created a platform designed to help financial services firms launch new technology applications. The cost and time dedicated to software development can be daunting to professionals focused on the financial markets. New innovations in technology are creating new opportunities for professionals to expand their product offerings. If you are aware of similar opportunities, please let us know by sending an email to editor@mta.org. Sincerely, Michael Carr [post_title] => Technically Speaking, September 2014 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2014 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:31:12 [post_modified_gmt] => 2020-08-03 15:31:12 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44747 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 370786 [post_id] => 44747 [meta_key] => newsletter_content_3_contributor [meta_value] => a:1:{i:0;s:5:"42695";} ) [6] => stdClass Object ( [ID] => 45291 [post_author] => 2 [post_date] => 2013-12-15 12:00:19 [post_date_gmt] => 2013-12-15 17:00:19 [post_content] =>

LETTER FROM THE EDITOR

In this month’s newsletter, we are presenting a diverse group of articles to show the breadth of the work being done within the field of technical analysis. While each article offers a different viewpoint, all of the authors use a number of charts. This is an unchanging feature of technical analysis, even in a time when there is an increased ability to quantify data. Complex analysis can be clarified with a chart.  In this note, is an example of how Kirk Northington, CMT, and Carson Dahlberg, CMT, of Northington Dahlberg Research have developed a method to visualize risk and reward. They have converted the potential gains and losses on a trade to MACD-style histogram and found an effective way to visualize the data. Technical analysis is changing, but it also remaining true to its roots and using visual tools to explain complex analysis. If you would like to share your work in this area, please email us at editor@mta.org. Michael Carr [post_title] => Technically Speaking, December 2013 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-december-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] => https://cmtassociation.org/?post_type=technically_speaking&p=45291 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 379570 [post_id] => 45291 [meta_key] => newsletter_content_1_contributor [meta_value] => a:2:{i:0;s:5:"45305";i:1;s:5:"42695";} ) [7] => stdClass Object ( [ID] => 45748 [post_author] => 2 [post_date] => 2013-10-15 12:00:42 [post_date_gmt] => 2013-10-15 16:00:42 [post_content] =>

LETTER FROM THE EDITOR

Like every other field of study, technical analysis has a history that is important to study. The history of technical analysis includes research related to charts and indicators. This history also includes the stories of the people who advanced the field. This month we look at one of those individuals in detail. Joe Granville rose to fame as a technical analyst in the 1960’s and 1970’s. In the future, it might not be possible for any other analyst to achieve his level of popularity. Markets are larger now and the time when one individual’s forecasts can move markets has likely passed. But Joe lived when that was possible and he did move the market on several occasions. In addition to the past, articles in this issue of Technically Speaking also cover the present state of technical analysis with several pieces of applied analysis. You can always email us at editor@mta.org to share your perspectives on the past, present and future of technical analysis. Michael Carr [post_title] => Technically Speaking, October 2013 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-october-2013 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:33:49 [post_modified_gmt] => 2020-08-03 15:33:49 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=45748 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 388103 [post_id] => 45748 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:5:"42695";} ) [8] => stdClass Object ( [ID] => 45792 [post_author] => 2 [post_date] => 2013-09-15 12:00:06 [post_date_gmt] => 2013-09-15 16:00:06 [post_content] =>

LETTER FROM THE EDITOR

Traders around the world are reacting to what they think the Federal Reserve might do in the coming months. Fed officials have repeatedly tried to calm the markets by explaining they have no firm plans for managing the end of their latest Quantitative Easing initiative. For some reason, traders seem to be nervous about assurances. No one really seems to know what will happen next. In this month’s newsletter, we have the insights of technicians from around the world. We are able to feature assessments of markets in the U.S., Canada, and the Philippines. We also have several charts showing the recent activity in India. Hopefully in the future we can provide analysis of markets in other countries. There are now MTA Members in 85 countries. We have no way of knowing where the next global hot spot will be but we can be fairly certain an MTA member will be providing analysis on that market. If you prepare reports on some of the less widely covered markets, or on the more popular markets, please consider them sharing them with the MTA through Technically Speaking. You can email us at editor@mta.org. Michael Carr [post_title] => Technically Speaking, September 2013 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-september-2013 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:34:19 [post_modified_gmt] => 2020-08-03 15:34:19 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=45792 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 388626 [post_id] => 45792 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"42695";} ) )

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