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Technically Speaking, April, 2006

From the Editor’s Desk

On the cover of this month’s issue, we pay our respects to Jerry Favors. Mr. Favors was an early icon of technical analysis that came onto the financial scene in the mid-1980s. He was known for his respect for and deep knowledge of the works of the old masters of technical analysis like Edson Gould and George Lindsay. His work was widely known and highly respected throughout the financial world. Young technicians should consider picking up where Mr. Favors left off by exploring the works of the old masters that he loved so much. Inside, we present a new addition to Technically Speaking. Meet A CMT. This monthly column interviews a relatively new, up-and-coming CMT for the purpose of introducing him or her to the Membership. Kudos to Contributing Editor Garry Rissman for a job well done on this inaugural column. Also inside is another new addition to TS, our Letters To The Editor column, and also an update on the MTA’s Educational Seminar in New York City this May. Finally, I’d like to announce that this will be

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What's Inside...

From the Executive Director Best of Times

by John R. Kirby

For me, the last year has been the very best of times for the MTA. The SROs made the CMT equal to the CFA. With netFORUM, the MTA now has a world class technology platform used by 10 million...

From the President’s Desk Still Forward

by Jordan Kotick, CMT

This will be my last article as MTA President. While our elections are not until June, I hope to turn the Board over to the new slate well ahead of that. The reason is simple: there is much that...

In Memorium Jerry Favors 1953-2006

In Memorium Jerry Favors 1953-2006

by Jerry Favors & John Kosar, CMT

In late-February, technical analysis and the financial community lost an icon and one of its best-known trail blazers of the past thirty years. Jerry Favors, editor of The Jerry Favors Analysis,...

Meet A CMT

by Garry Rissman

Editor’s Note: This month, we would like to introduce a new column to Technically Speaking entitled Meet A CMT. In this column, one of our Contributing Editors interviews a relatively new,...

Letter To the Editor

by John R. McGinley, CMT

My compliments on an excellent newsletter issue (Feb 2005), containing a most appropriate tribute to my friend and mentor, Arthur Merrill. As the first to actually TEST an indicator and as the first...

From the Executive Director Best of Times

From the Executive Director Best of Times

For me, the last year has been the very best of times for the MTA.

The SROs made the CMT equal to the CFA. With netFORUM, the MTA now has a world class technology platform used by 10 million association members around the world.

With Thomson-Prometric, the MTA now has a world class computerized exam system of the highest quality that is also used by NASD.

The CMT Institute provided top quality online education to 87 CMT applicants in 30 countries. The MTA seminars served a larger proportion of the membership at lower cost than ever in the history of the organization.

The MTA staff provided more services to a larger membership at a cost lower than the previous year.

Since July of 2005, the MTA has added 600 new members and 80 new CMTs (total 383) to the membership.

As of 3-31-06 there are 2596 members including 2058 affiliates, 497 Members, 11 honorary Members, 8

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Contributor(s)

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From the President’s Desk Still Forward

From the President’s Desk Still Forward

This will be my last article as MTA President. While our elections are not until June, I hope to turn the Board over to the new slate well ahead of that. The reason is simple: there is much that needs to be done over the next few months. To be fair to the new officers, I/we need to give them as much of a head start as possible so they can put their stamp on things and delegate as they deem appropriate.

Traditionally, Presidents do a bit of an overview before they turn over the keys so I thought I would keep up with this tradition. Essentially, I would argue that this Board, over the last 18 months-two years, accomplished as much if not more than arguably any Board in the history of our organization.

During this time, our aggressive agenda has seen that monumental decision from the SROs (NYSE, NASD and

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Contributor(s)

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In Memorium Jerry Favors 1953-2006
In Memorium Jerry Favors 1953-2006

In Memorium Jerry Favors 1953-2006

In late-February, technical analysis and the financial community lost an icon and one of its best-known trail blazers of the past thirty years. Jerry Favors, editor of The Jerry Favors Analysis, passed away peacefully at home in his sleep on February 28th. He was 52 years old. 

When I entered the business in the 1980s, Jerry Favors was one of about a handful of technicians that were very prominent at the time. Hearing technical analysts like Mr. Favors speak on financial television (on FNN) and reading about them in the financial press gave me someone to try to model myself after, and a career to chase. I never knew Mr. Favors, but I knew enough about him to know it was important for the MTA and Technically Speaking to recognize his passing and honor his work.

Jerry Favors was a person that young technicians coming up in the business should know about.

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

Jerry Favors

John Kosar, CMT

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Meet A CMT

Meet A CMT

Editor’s Note: This month, we would like to introduce a new column to Technically Speaking entitled Meet A CMT. In this column, one of our Contributing Editors interviews a relatively new, up-and-coming Chartered Market Technician to introduce him to our Membership and to the technical analysis community. In our inaugural column, Contributing Editor Garry Rissman interviews MacNeil Curry, CMT from Barclay’s Capital. Thank you, Garry and MacNeil.

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Contributing Editor: It is my proud honor to introduce the first speaker in a new series dedicated to interviewing less well-known CMT’s working in the field. Please tell us about yourself, sir.

MacNeil Curry: When I first started in college I was working for JP Morgan in the summers. I started to become very interested in the markets at the University of Pennsylvania in 1990 and 1991 when I was a freshman and a sophomore. U Penn is one of the few places as an

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

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Letter To the Editor

Letter To the Editor

My compliments on an excellent newsletter issue (Feb 2005), containing a most appropriate tribute to my friend and mentor, Arthur Merrill. As the first to actually TEST an indicator and as the first recipient of a CMT, he richly deserved it. We all miss him.

I just read George Shade’s excellent article on Garfield Drew in that issue. It contains an inadvertent error, one not the case when Drew did his work: the facts are that not been a single odd lot transaction done by the public has been reported publicly since the 70’s! While it was a great indicator years ago – and for good reasons – it no longer is. Arthur Merrill and I reported this at the time, but it seems to have been lost in the shuffle.

The reason is simple: would you believe that in creating the form specialists use to report transactions to the exchange, they

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Not a member? Join the CMT Association and unlock access to hundreds of hours of written and video technical analysis content, including the Journal of Technical Analysis and the Video Archives. Learn more about Membership here.

Contributor(s)

John R. McGinley, CMT

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New Educational Content This Month

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