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Technically Speaking, August, 2005

From the Editor’s Desk

I’d like to begin by introducing myself as the new Editor of Technically Speaking. I replace Mike Carr, who is stepping down to make a little more time for himself and his family. I know I have a tough act to follow but, fortunately for me, Mike will continue to contribute to Technically Speaking not only as an Associate Editor, but also as a mentor to me as I assume this new role. Speaking of Associate Editors, we need more of them! If you are looking for a way to get more actively involved in your MTA and like to write, this is a great way to do it. I have been an MTA Member for close to 20 years, and I have to say that THE single best benefit of MTA Membership, at least for me, has been the opportunity to network with other members. Through networking with our Membership, I have been able to find everything from obscure data that no one else had, to a new job. But you can’t network with anyone unless you

To view this content you must be an active member of the CMT Association.
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.

What's Inside...

From the President’s Desk The MTA Snags Greenspan!

by Jordan Kotick, CMT

Among the various MTA endeavours, the annual review of Committee chairs and appointments is a mainstay. I want to thank many of those who have volunteered their time and welcome those who are now...

From the Executive Director’s Desk GOOD NEWS! MTA Embraces Computer- Based Testing

by John R. Kirby

For the fall CMT exams the MTA has moved to a computer based testing system. For several years we have been wanting to do it. Our Members have demanded it. The MTA has promised to do it. Now, we are...

Regions Spotlight - Denver, Colorado Chapter - July 16th, 2005

by Michael Carr, CMT

At the Denver MTA Chapter meeting on July 16th, Tom McClellan presented unique insights into the markets combined with practical applications of those insights. He left the audience with tools to...

Net Forum: Our New Technology Platform From Avectra

by John Kosar, CMT

During the past 25 years the MTA has evolved from a small club of New York-based technical analysts to a national association of market technicians responsible for establishing the professional...

MTA Welcomes... Marisa Chodkiewicz

Hello, I am the newest member to this wonderful MTA staff, and I will be the accounting manager. Over the years, I have been employed in the financial services industry in areas ranging from limited...

2005 Women’s Market Forecast Panel

The Market Technicians Association will be hosting a Women’s Market Forecast Panel to be held from 4:30-6:00 PM on Monday, September 12, 2005. This event will be held at the American Management...

The Foundation For Successful Swing Trading, Part 1.

by Dave Landry

To those new to swing trading, this 3-part introduction contains a brief explanation of my approach to the markets. It is not intended to be a complete methodology. Rather, it’s a base upon which...

Regions Update

by John Kosar, CMT

The Board has recently voted in some new guidelines for Regions. The purpose of these new guidelines is to better clarify the relationship between the Regions and the MTA Board. They are listed...

Accreditation Report On Latest CMT Exam Results

The Accreditation Committee reports the following passing rates for the April 30th, 2005 exams: CMT 1: 77% CMT 2: 85% CMT 3:...

From the President’s Desk The MTA Snags Greenspan!

From the President’s Desk The MTA Snags Greenspan!

Among the various MTA endeavours, the annual review of Committee chairs and appointments is a mainstay. I want to thank many of those who have volunteered their time and welcome those who are now volunteering their time. To begin with, we thank Tim Snaveley for his efforts in Regions and introduce Steve Poser who is now going to head this committee. I think having Steve in this position, given his position on the Board, will help facilitate increased communication between the Board and the Regions. John Kosar has stepped into the chair as newsletter editor, on top of his VP duties, and his ongoing efforts towards the betterment of the MTA are much appreciated. John Bollinger is chairing our Awards committee while Barry Sine, on top of his Board commitments, is going to continue to Chair the seminars committee. There are still a few more chairs to shuffle and I

To view this content you must be an active member of the CMT Association.
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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From the Executive Director’s Desk GOOD NEWS! MTA Embraces Computer- Based Testing

From the Executive Director’s Desk GOOD NEWS! MTA Embraces Computer- Based Testing

For the fall CMT exams the MTA has moved to a computer based testing system. For several years we have been wanting to do it. Our Members have demanded it. The MTA has promised to do it. Now, we are finally able to deliver on our promise.

Here are the details. When MTA contracted with the Chauncey division of Educational Testing Service (ETS) several years ago to administer the CMT exams, they were pencil and paper based. We wanted our tests to be computer based, but we were told by Chauncey that because of our size and our world wide distribution, (35% of CMT exams are given outside the US) it would be too expensive for us to do this.

However, when Chauncey was acquired by Thompson Prometric, new opportunities began to open up. We put out a request for proposals, and Pearson Vu and Thomson Prometric responded. The bidding was very

To view this content you must be an active member of the CMT Association.
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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Regions Spotlight - Denver, Colorado Chapter - July 16th, 2005

Regions Spotlight - Denver, Colorado Chapter - July 16th, 2005

At the Denver MTA Chapter meeting on July 16th, Tom McClellan presented unique insights into the markets combined with practical applications of those insights. He left the audience with tools to forecast the health of the economy, and the ability to profit from the big picture.

Economists can learn a great deal from technical analysts. Traders don’t get to trade very long if they don’t test their hypothesis because they will suffer agonizing real world loss of trading capital if they’re wrong. Economists don’t usually have enough data to test their hypothesis, and when proven wrong can simply modify their theories. Identifying practical applications of economic theory can benefit both academics seeking to explain behaviors and traders who can enjoy more immediate rewards through increased equity in their trading accounts.

Tom began his presentation by demonstrating the reliability of the 40-year cycle in stock markets, real estate bubbles, gold rushes and economic

To view this content you must be an active member of the CMT Association.
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)

Michael Carr, CMT

Michael Carr, CMT

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Net Forum: Our New Technology Platform From Avectra

Net Forum: Our New Technology Platform From Avectra

During the past 25 years the MTA has evolved from a small club of New York-based technical analysts to a national association of market technicians responsible for establishing the professional standard for our profession. We’ve come a long way.

With growth comes the need for a stronger infrastructure. Since the MTA is in many ways an internet-based association, one of our biggest infrastructure-related needs has been in the technology area. Years ago, we started off with a very basic technology platform — that was all we needed at the time. As we grew, we kept adding “modules” to this platform until, ten years later, it resembled a one-room cabin that had 20 additions built onto it at various times, jutting out in all different directions. This presented a variety of problems for us, not the least of which was training someone to run it, and the financial expense involved in having

To view this content you must be an active member of the CMT Association.
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 Kosar, CMT

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MTA Welcomes... Marisa Chodkiewicz

MTA Welcomes... Marisa Chodkiewicz

Hello, I am the newest member to this wonderful MTA staff, and I will be the accounting manager. Over the years, I have been employed in the financial services industry in areas ranging from limited partnerships, due diligence, budgets and analysis with Prudential-Bache (yes Bache!) to Merrill Lynch. I was most recently employed by a HBA manufacturer for 8 years as an assistant to the controller. I have an MBA in Finance with a BS in Marketing. I have been teaching English as a Second Language and Math to adults in a county vocational adult high school. I am a jack of all trades, master of none!

I look forward to working with all of you and feel very fortunate to be part of such an auspicious association. Thanks for having me! 

To view this content you must be an active member of the CMT Association.
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.

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2005 Women’s Market Forecast Panel

2005 Women’s Market Forecast Panel

The Market Technicians Association will be hosting a Women’s Market Forecast Panel to be held from 4:30-6:00 PM on Monday, September 12, 2005. This event will be held at the American Management Association (AMA) at 1601 Broadway, New York NY. Admission is free for all MTA, IFTA, FWA, NYSSA and 100 Women in Hedge Funds members. For all non-members, the cost of admission will be $25. This event will include a panel of prominent and respected market technicians including Louise Yamada, CMT, Gail M. Dudack, CMT, Katie E. Townshend, CMT, and Jeanette Schwarz Young, CMT, CFP. They will share their views on where the market is now and where they believe it is headed in the future.

Louise Yamada was Managing Director and Head of Technical Research for Smith Barney. A perennial in the Institutional Investor poll, she was the top-ranked technician in 2001, 2002, 2003, and 2004. Today, Louise and

To view this content you must be an active member of the CMT Association.
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.

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The Foundation For Successful Swing Trading, Part 1.

The Foundation For Successful Swing Trading, Part 1.

To those new to swing trading, this 3-part introduction contains a brief explanation of my approach to the markets. It is not intended to be a complete methodology. Rather, it’s a base upon which on upon which one can build.

Swing Trading Defined

Swing trading is simply short-term trading. Positions are held, on average, for 2 to 7 days. Under ideal conditions, positions can be held much longer, creating the occasional “home run”. My style of swing trading is momentum based. This means that I first seek to identify a trend and then look for a place to enter. Although I do have some transitional patterns (early trend), I do not attempt to pick tops or bottoms.

Trading Pullbacks

I believe “The Trend Is Your Friend” is the truest market adage. And, the best way to enter trends is on pullbacks. Therefore, momentum pullbacks and variations thereof are my favorite patterns. They consist of

To view this content you must be an active member of the CMT Association.
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)

Dave Landry

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Regions Update

Regions Update

The Board has recently voted in some new guidelines for Regions. The purpose of these new guidelines is to better clarify the relationship between the Regions and the MTA Board. They are listed below.

Region guidelines

  1. For all fees collected by chapters, checks will be made out to the MTA and sent to the MTA office. A separate sub account in our accounting system will identify chapter payments.
  2. A roster of meetings will be kept and transmitted to the MTA office. Attendees will be requested to provide name, address, Employer, e-mail address and member status (or guest) will be included.
  3. All mailing lists and e-mail lists are to be maintained by the MTA office, and all mailings will be done by the MTA office.
  4. All chapters are reminded that personal use of chapter mailing lists is strictly prohibited. The only websites to be maintained are those of the national MTA. A chapter may have a

To view this content you must be an active member of the CMT Association.
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 Kosar, CMT

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Accreditation Report On Latest CMT Exam Results

Accreditation Report On Latest CMT Exam Results

The Accreditation Committee reports the following passing rates for the April 30th, 2005 exams:

CMT 1: 77%
CMT 2: 85%
CMT 3: 56%

To view this content you must be an active member of the CMT Association.
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.

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New Educational Content This Month

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