Editor’s note: This is a brief abstract of the 2013 Charles H. Dow Award winning paper. For readers who are not familiar with the indicator, On Balance Volume (OBV) is designed to measure whether there is more buying or selling pressure in the market. It is a cumulative indicator, always adding the current day’s value to the previous value of the indicator. OBV is found by adding the total volume on days when the price closes higher and subtracting the total volume on down days. It can be calculated for major stock market indexes using the total volume for a stock exchange, for example charting the Dow Jones Industrial Average and calculating OBV with the total volume reported by the New York Stock Exchange. It can also be calculated for individual stocks using only the volume in that stock. Using a simplified example, we can consider a stock that closed up

How would you describe your job? Well I wouldn’t really ask the question that way. I would ask, “What do you do professionally?” I don’t really think of myself as having a job, per se, as I have owned and operated my own business, Kase and Company, Inc., since 1992. The company has two foci. One is providing hedging and trading advisory services and software solutions to the corporate and institutional energy sector. In that context we publish two weekly newsletters, one on WTI and Brent, and another on natural gas, NG. In addition we have energy sector hedging services that include quarterly risk management studies and software products delivered via web. One is called the Kase HedgeModel and the other Kase ezHedge. So, I direct, review and edit the forecasts involved with these services, and I still do the hedging recommendation write ups myself. Dean Rogers who’s an MTA member manages

Fundamental data can be charted and analyzed. The chart below illustrates this point. The price-to-earnings (P/E) ratios of the stocks in the Venn Circle Sacred Stock Index are shown. P/E ratios are calculated using forward earnings for fiscal year (FY) 2015 for each company. The multiples for each of the 13 stocks co-exist in the US Stock Market Venn Circles. The average forward price-to-earnings (P/E) ratio, as of July 30 2014, is approximately 16. Federal Reserve Chair Janet Yellen considers the valuations of biotech stocks to be stretched (see her July 15, 2014 testimony to Congress). Perhaps so, but for four biotech stocks in the Venn Circles, the average forward P/E ratio is just over 15, in line with the broad market. The three Dow Jones stocks inside the VENN circle have an average FY2015 forward multiple of 13.5. If any stocks inside the Venn Circles are overvalued relative to the broad

The title of this book, Trading Options Using Technical Analysis to Design Winning Trading Trades, summarizes the book. This is a comprehensive look at what options are and how these trading instruments can be traded. This is a unique work because it provides basic knowledge about the subject along with detailed strategies that can be applied in the markets. Trading Options includes a general overview of technical analysis, options and options strategies. These sections are all comprehensive and useful. The book also includes sections on how to design a trade and how to develop and implement a trading plan based on that design. Options trading is a topic that is widely written about but it is usually addressed in general terms. Greg goes beyond that model of writing and provides specific examples of how to implement different options strategies. The examples use actual stocks rather than notional symbols and contracts. Trading Options

On Balance Volume (OBV) is charted for ETFs tracking several major market indexes from around the world. These charts were created at Stockharts.com. SPDR S&P 500 ETF (NYSE: SPY)iShares Russell 2000 (NYSE: IWM)iShares United Kingdom (NYSE: EWU)iShares Germany (NYSE: EWG)