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Tom Bruni, CMT

Tom Bruni, CMT

Tom Bruni, CMT is a Technical Analyst at All Star Charts and the founder of BruniCharting. In May 2016 Tom graduated Magna Cum Laude from Molloy College’s Business Honors Program where he spent the majority of his four years exploring career paths in the fields of Accounting and Finance through internships and pro-bono work. He founded BruniCharting.com during his freshman year to record his experience of learning about Technical Analysis and markets by trading his own capital.

After graduation, Tom spent eighteen months with Ernst & Young as a consultant in their Risk Advisor Program before leaving to join All Star Charts in early 2018. In addition to this position, he maintains his blog, BruniCharting, where he shares his experiences as a twenty-four-year-old building a career in Finance and pursuing his CPA, CFA, and CMT designations. Tom also serves as a co-chair of the New York Chapter of the CMT Association and has spoken at several conferences including the Trade Ideas Summit, Chart Summit, and Stocktoberfest.

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            [post_content] => The Dog Days are upon us, yet the animal ruling the roost is the bull. That is, if you are in the stock market and most of the metals. Not so much if you own U.S. dollars. With the world still upside down due to the pandemic, whole swaths of the economy are likely to change; that means rethinking portfolio allocations.

But you don’t need me to tell you about the new world, as we are all living in it. I do, however, have confidence that this time next year things will be mostly back to normal. We’ll still probably look at each other as if everyone has got a secret case of the cooties, which, by the way, is a real word in the dictionary. I had no idea.  But that, too, will pass with time.

In this month’s edition, we interview Jeanette Schwarz Young, options trader and educator extraordinaire. The feature article by a recent new member, John Letizia, looks at the FAANG stocks with a new spin. For most of them, the big gains have happened after hours, but that could be changing. He also introduces us to an index that tracks an expanded version of these stocks that we can actually chart.

Of course, we’ve got some Chapter meeting summaries from NY, Minnesota and Chicago, as we proceed with virtual-only meetings for the foreseeable future.  We've also got another first, as the Singapore and Hong Kong Chapters held a joint virtual meeting with three speakers and several attendee polls. Check this out and see that our Asia presence is alive, well and growing.

Membership news and a message from the President round it all out. Don't forget, pricing for the CMT exams increases on September 1, so register now to get the current (Standard) price.

The post-Labor Day period typically sees activity of all sorts pick up. When we add the Presidential election drawing near, these should be “interesting times” ahead. Stay safe.

Michael Kahn, CMT

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            [post_content] => The summer doldrums are upon us but given the slowdown in economic activity, it is hard to tell the difference. The pandemic remains topic one, while politics is creeping higher up the list. How will stocks do if Red wins? Or if Blue wins? Or if the rapper is actually serious?

As technical analysts, fortunately we don’t have to worry too much about all that. The market will sniff it out for us and it will be our job to read the signals it provides.

How have you all been coping with the socially distanced, everybody has cooties, world? We’d like to know so send in a few notes to us here at editor@cmtassociation.com. What are your clients doing differently? What are their views? Are you working from home? How has your business changed? And what can the Association do to help you?

Our President, Scott Richter, offers up some resources in his note within. However, due to last minute editing issues, we are without a feature article this month. Perhaps you, dear member, would like to submit something? As long as it is not a sales pitch or a black box, we’d love to read about an analysis or technique you use.

Have you read a good book on trading or analysis? Why not send in a quick half-page review?

What about software? Are you using something that is really helpful or unique? Tell us about it.

Otherwise, we’ve got Association news inside here, reviews of the June NY, Northern Ohio and India virtual chapter meetings and our member interview with Robert Peirce. Bob is retired now after a long career but still offers up his excellent long-term analysis to various chat rooms. We also have an exciting update on some new additions to our Academic Partner Program.

Don’t let the new world order get you down! And don’t let that be an excuse not to participate in your Association.

Michael Kahn, CMT

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            [post_content] => Happy Equinox, shut ins. Yes, as the seasons change, all over the globe we are staying inside and away from each other. Does that affect your mental state? You bet it does. And does it affect your market analysis and trading? Probably, but maybe not as much as it might have done a few bear markets ago when technology was still finding its way.

The coronavirus (COVID-19) situation is quite fluid so I won’t comment. However, as markets try to find their footing and our day-to-day lives are different, we’re here to provide resources for you to make the best of it. Most importantly, we can tell you that the CMT Association is still up and running, having planned for an emergency situation months and years ago. Remember, back in 2001 our headquarters were in Tower 1 of the World Trade Center, so we know a few things about preparation and resilience.

This issue of Technically Speaking will feature an article by Rob Hanna about how he operates using quantitative analysis alongside technical indicators. Our member interview is with Patrick Hennessey, a trader who has a story many members likely mirror.

Everything else touches on resources available to members, even as the office downtown is closed. Association CEO Alvin Kressler offers a few words letting us know that we are alright and will come out of this just fine. And finally, I offer up a few words about my own situation working at home, which perhaps is what so many of us are now doing. Personally, I find it a step up.

That’s all. Be safe, stay home, wash your hands and stay connected by voice or digital. Think of all this as a story you can tell your grandchildren and don’t forget to laugh about toilet paper hoarders. 

Michael Kahn, CMT

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            [post_content] => The month of March is said to come in like a lion and go out like a lamb. If we apply that to this January, it was pretty much the reverse. After months of nary a hiccup, the stock market growled its way into the close and in the process wiped out its early gains.

It does seem that the market was set up for a problem, from overzealous sentiment to various valuation comparisons to 2000. Still, the real problem was knowing when. The market needed an excuse to do what it had to do and along came another deadly virus to virtually shut down the world’s second largest economy.

And what better time to think about what we did right and what we did wrong leading up to the top? Did we panic at the first whiff of the Hindenburg Omen? Was the CNN Fear and Greed Index our kryptonite? Did we play along with record unemployment? BTFD? Or panic when the yield curve arguably inverted again? Iran? China (the trade deal part)? Politics? Plunging oil? Plunging copper?

To all that, all the pure technician in me hears is, “blah, blah, blah.”

No, I’m not going to say none of that matters but it does make me appreciate the simply beauty in assessing price action itself. Or, as we say here in my new gig, Supply and Demand.

This month, we continue Bruno DiGiorgi’s History of Wall Street series with installment number five. We’ve also got a piece from a decade ago called The Top Technical Analysts, which answers the question many of us hear – “Where are the rich technicians?”  It was written in 2013 so the numbers are off, as are some of the firm names. But it is a timeless story that should make all technicians proud, especially when doubt creeps in that our processes don’t work anymore. 

This month’s member interview is with Greg Harmon, of Dragonfly Capital Management. Considering he never heard of the CMT Association until fairly recently, he’s gotten quite involved.

There is chapter news from New York and Minnesota, as per usual, and we once again plead for other chapters to let us know what is going on with their members and programs.

We’ve also got a list of CMT candidate resources, membership news and an invitation to submit a paper to one of our partner organizations. Don’t say there are no places for you to publish your ideas.  And as always, we’d love to publish something you wrote right here in this newsletter. Can you think of a better place for beginners to share their ideas? Don’t worry, we don’t bite. In fact, we’ll help you develop your writing style.

Michael Kahn, CMT

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Letter from the Editor

Well, another year is in the books and unless you were a short-only equities trader, you probably did well. I’m not going to give you the typical year-in-review in the markets because you all have your own charts. Rather, let’s look at where we are as an organization and all we need to know is that we are growing. We’re global. We’re recognized by the regulators. And we’re actually kind of fun. Yes, that fun is in a nerdy sort of way - but through chapter meetings, online presentations and the annual symposium, we do get together quite a bit. Of course, we also hoist a few cold ones after the serious stuff is over. I joined the organization in 1994, if memory serves. At first, I was just an associate member before I became a professional member. At the time, my membership was a bit unusual because I was not officially trading, advising or managing money with technical analysis. Rather, I was the technical analysis product manager for a vendor called Tradecenter, which was owned by Knight-Ridder Financial at the time. It was my job to identify new analyses to add to the service, define it for programmers, test it with real and simulated data and then teach the customers how to use it. From that starting point, I got more involved in the Association, first as a committee member, then a committee chair, then newsletter editor for the first time, and eventually as a member of the Board of Directors. There is plenty of diversity in what we do and plenty of opportunity in how you can contribute to the Association. I encourage you to find your angle of interest and simply join that committee. As a largely volunteer-powered organization, we need you! This month, we’ve got the latest installment of Bruno DiGiorgi’s History of Wall Street series, in which we learn more about how Wall Street got its name. The very reliable New York and Chicago chapters have speaker reviews for your enjoyment. And this month’s member interview is with David Keller, CMT. Toss in the usual Association news and there you have it. Michael Kahn, CMT Editor [post_title] => Technically Speaking, January 2020 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-january-2020 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:14:23 [post_modified_gmt] => 2020-08-03 15:14:23 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=44360 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 362542 [post_id] => 44360 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"39991";} ) [5] => stdClass Object ( [ID] => 43422 [post_author] => 35924 [post_date] => 2019-12-10 10:05:33 [post_date_gmt] => 2019-12-10 15:05:33 [post_content] =>

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] => 2020-08-03 11:14:29 [post_modified_gmt] => 2020-08-03 15:14:29 [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] => 346342 [post_id] => 43422 [meta_key] => newsletter_content_3_contributor [meta_value] => a:1:{i:0;s:5:"39991";} ) [6] => stdClass Object ( [ID] => 41398 [post_author] => 35924 [post_date] => 2019-11-07 10:06:12 [post_date_gmt] => 2019-11-07 15:06:12 [post_content] => As the leaves finally turn here in the New York area, the stock market has once again reached new highs, at least according to the big indices. But just when you stopped looking, the Russell clawed back to the top of its year-long range and the NYSE composite – the average Joe index – is at a two-year high. Could it be that the converse to “sell in May” is finally going to work? The answer is, of course, who knows?  The usual suspects still hold us hostage: China and the Fed. The latter seems to be on hold after the last rate hike. There are a few things of note, namely the resurgence of retail stocks and banks. The dollar may be breaking down, too. Copper may still be comatose, but look at platinum soar! This month in Technically Speaking, we’ve got part two of Bruno DiGiorgi’s History of Wall Street and a twist on an old, less-well-known indicator by David Steckler. New York and Minnesota Chapters weigh in with speaker reviews, and our member interview is with Ken Tower, CMT, a past president of the Association. We’ve also got a similar interview with CMT Association Executive Director Alvin Kressler. It is easy to think of him as just an administrator, but when you look at his career, he is truly one of us.  Of course, we’ve got Association news, including the announcement of 27 new CMTs. 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 as usual, 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. Michael Kahn, CMT Editor [post_title] => Technically Speaking, November 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-november-2019 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:14:47 [post_modified_gmt] => 2020-08-03 15:14:47 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=41398 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 320619 [post_id] => 41398 [meta_key] => newsletter_content_2_contributor [meta_value] => a:1:{i:0;s:5:"39991";} ) [7] => stdClass Object ( [ID] => 40215 [post_author] => 35924 [post_date] => 2019-10-03 15:49:34 [post_date_gmt] => 2019-10-03 19:49:34 [post_content] => Forget March. October came in like a lion as the news cycle and economic reports stomped on the bulls. Considering that September was rather tame, it was a big wake-up call for stock jocks. But September did have its moments. The U.S. dollar soared and the UUP bullish dollar ETF nearly hit all-time highs (set in 2008). Gold, which still holds a long-term breakout, faded all month, not surprisingly. Bitcoin barfed (my opinion embedded there). The long Treasury yield recovery failed while the curve inverted and un-inverted again. And crude oil gave up its gains and then some after the Saudi oil field attack. There are fun markets to trade everywhere! Lest we forget, after peaking in 2014, the number of UFO sightings dropped this year to date to a 19-year low. I don’t quite see the correlation to any market, and especially not cannabis. So, while we sip our pumpkin spice (barf again) and watch this October’s volatility, remember that the “good part” of the year is upon us. No, not the seasonal strength for stocks but the CMT Association’s rolling out of all sorts of good stuff to make your work life better and easier. In this issue, we’re re-running a series from Technically Speaking’s past on the history of Wall Street, written by Bruno DiGiorgi. Did you know how the term “broker” came about? It had nothing to do with investors getting broker the more they traded. And since we’re in the rerun spirit, we’ve got an article from Adam Koos that ran last May in Proactive Advisor magazine. In it, Adam details his CMT journey and how it helped him in his advisory business. It’s a testament to the value of the designation and the process of getting it. I’ve also included a short piece on the “spirit of technical analysis.” Basically, it asks the question, “Does your precise analysis make sense in the real world?” We have an interview with the legendary Louise Yamada, whose work decades ago helped shape the analysis we practice today. Of course, we’ll round it off with Association news, updates from the CMT program, members in the media and chapter speaker reviews from New York, Chicago and Minnesota. The latter two are my total favorite chapters because they share frequently. The rest of you, well, bless your hearts. Michael Kahn, CMT Editor [post_title] => Technically Speaking, October 2019 [post_excerpt] => [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => technically-speaking-october-2019 [to_ping] => [pinged] => [post_modified] => 2020-08-03 11:14:58 [post_modified_gmt] => 2020-08-03 15:14:58 [post_content_filtered] => [post_parent] => 0 [guid] => https://cmtassociation.org/?post_type=technically_speaking&p=40215 [menu_order] => 0 [post_type] => technically_speaking [post_mime_type] => [comment_count] => 0 [meta_id] => 304978 [post_id] => 40215 [meta_key] => newsletter_content_6_contributor [meta_value] => a:1:{i:0;s:5:"39991";} ) )

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