It’s August already, and life seems to have taken a step backward. Covid made a comeback and all of those “pandemic recovery” stocks took it on the chin. Fortunately, unlike last year, we have potent weapons at our disposal, so this could be just a temporary setback. That means the economic recovery should continue later this year. Could rising interest rates derail it? Did oil just correct and is preparing to break out to the upside again? Take a look at a long-term chart (20 years) of gold, too.
So many cross currents to consider. Will the meme stocks keep meme-ing? Will poorer global economies bounce back after getting more of the vaccine? And just how long can the large-cap indices make new highs when the others are offering no profit whatsoever since the start of the year (look at the Russell 2000)? Of course, these may be famous last words in the limbo period between when I write them and when they are officially published.
On the Association front, the summer, especially another Covid summer, is a quiet time. Chapter meetings are just starting to ramp up again, but CMT testing is going strong. In this month’s edition of Technically Speaking, we’ve taken yet another dive into the past with content poached from newsletters of yore, including a biography of John Magee, of Edwards & Magee, written by George Schade, CMT. If you did not already know, a lot of that famous tome was based on the work of Richard Schabacker, who was not coincidently Richard Edwards’ brother-in-law. We’ve also reprised Donald Mack’s review of Schabacker’s book, Technical Analysis and Stock Market Profits.
This month’s member interview is with Marc Lichtenfeld, a long-time member. Of course, there is member news, the official CMT Podcast announcement with Pamela Yoon, CMT and a page of photos taken at the 14th Annual Seminar in Naples, Fl.
If you have some old photos, please scan them and send them in to firstname.lastname@example.org. We would love to have them. Also, if you would like us to run an interview with a favorite technician, let us know that, too. Any content we run to make your professional and analytical life easier is fair game. And if you have something to say yourself, let’s go. Write that article!
Until next month. Look for a story then about how the organization survived September 11, on the upcoming 20-year anniversary.
Michael Kahn, CMT
President's Letterby Brett Villaume, CMT, CAIA
According to the World Health Organization, during the week of July 26th there were 4.0 million confirmed COVID-19 cases worldwide. Weekly reported cases are up 58% since mid-June. While the Americas...
Book Review: Technical Analysis and Stock Market Profits by Richard Schabackerby Donald Mack
This review originally appeared in in the November 1998 edition Technically Speaking. Richard Schabacker was at his prime in the 1920s and 1930s, not only as a guru of technical analysis but also as...
Member Interview with Marc Lichtenfeld, CMTby Michael Kahn, CMT
Please tell us what you do professionally. I am the Chief Income Strategist at The Oxford Club. I have also been a sell side analyst at Avalon Research Group, a columnist at TheStreet.com and a...
Biography of John Mageeby George A. Schade, Jr., CMT
This story originally ran in the May 2004 edition of Technically Speaking. John Magee is one of the most well-known names in the field of technical analysis and is viewed as the leading authority on...
Fill the Gap Episode 8 with Pamela Yoon, CMTby Tyler Wood
The August episode of Fill the Gap shines a light on the vitality of technical analysis not often on display in broader financial media. Learn how client advisors use technical analysis to improve...
CMT Photo Archiveby Michael Kahn, CMT
This is an occasional series revisiting the Association in pictures, just to offer a glimpse into our past, and in-person events as a reminder of what we aspire to in the future. If you have any...
Membership Newsby Marie Penza
Members on the Move The CMT Association would like to congratulate the following members on their new positions: Akshay Chinchalkar, CMT, Cross Asset Editor – India at Bloomberg LP Youssef El...
New Educational Content This Month
We’re adding new chapter meeting recordings, as well as presentations from July’s European Summit, to our archives. You can watch our most recent additions here.
New Educational Content This Month
October 13, 2021
CMT University Series: Mike Hurley
Presenter(s): Mike Hurley, CMT
September 16, 2021
CMT Program Informational Session
Presenter(s): Stanley Dash, CMT, Tyler Wood
August 19, 2021
Volume Analysis Series (Part 2): Profiting from Trends
Presenter(s): Buff Dormeier, CMT