From the Editor’s Desk
First of all, I’m very pleased to report that we are starting to see a little more participation from our Membership, in terms of contributions to your Newsletter, Technically Speaking. However, we still have a long way to go. Ironically, the portion of our Membership that has shown the most interest in contributing to TS has been our ever-growing overseas contingent. For example, in this month’s issue, we have an interesting analysis of the Sensex, the Indian stock market index, by Mohan Turaga, who is actually a Contributing Editor from India.
Equally ironic is that, sadly, most of our Regions here in the States have not responded to our repeated requests for a brief article now and then, just to recap their monthly meetings and generally keep the rest of the Association abreast of what they are doing in their particular area of the country. We have even gone so far as to offer to provide digital cameras to any region that would agree to send us a monthly meeting recap now and then and a couple of pictures. The offer still stands, and I continue to hope the Regions will eventually come around and get more involved.
Moving on to this month’s issue, we lead off with an article on Bow Ties by Dave Landry. This is not about outdated clothing from the 1940s, but rather a relatively new analytical technique (at least to me) that has received some attention recently on the Market List email forum, hosted by our own John Bollinger. Inside, we have an interesting article by Mark Thomas on how the first peers to report during earnings season have a tendency to indicate how the rest of the group will react. In addition, we have included some much-needed and long-overdue levity from MTA Member and CFA Sam Levine entitled “Financial Words You Won’t Hear On TV”.
Finally, since I’m the editor, allow me to editorialize for a moment. During the past several years, your MTA Board (of which I am a member) made a series of changes to the infrastructure of the Association. These changes, based on feedback from you, were designed to improve and professionalize the MTA. Our objective was to bring more professional recognition and respect to Market Technicians, with the ultimate goal of creating more jobs and business opportunities for our Membership. As a result, we made a lot of decisions that, at least to some, were very unpopular. Some harsh words were spoken, and a lot of misinformation was circulated.
But now, a few years later, securities regulators have granted a Series 86 exemption to those that have passed the CMT I and II exams, our testing process has been radically professionalized and is now administered by the same firm that administers the NASD exams, educational classes are now being offered to CMT candidates around the world via our new electronic classrooms, the MTA is offering an array of various benefits and discounts to Members that were never before available, we have installed a new internet platform that allows us to service our Membership in ways that were never before possible, and is backed by a company that serves more than 40 million individuals and 750 member-based organizations, and we have installed a new, eager, professional staff that understands our new technology and direction and is capable of making it all work. Objections aside, I think our Association is moving forward, and quickly, in ways that we can all be proud of. I hope you all feel the same.
John Kosar, CMT
From the Executive Director CMT Institute Launchedby John R. Kirby
One of the first events that I had the pleasure of attending shortly after joining the MTA several years ago was a monthly meeting that was webcast to a worldwide audience. I recall the speaker Jeff...
From the President’s Desk Problems at the MTAby Jordan Kotick, CMT
This is a very difficult column to write. The first thing I need to tell you is that there is a major problem with our staff in Woodbridge. It is simply this….I have not had a complaint about them...
Bow Tiesby Dave Landry
My style of swing trading is momentum based. Therefore, in order for me to get excited about a setup, the stock must first trend strongly in the intended direction of the trade. Requiring such strong...
Sensex Crosses 10,000 Mark... Monday, February 13, 2006by Mohan Turaga
Indian stock market index, Sensex which is the 30 share sensitive index of Bombay Stock exchange crossed the 10,000 mark on Feb. 6th 2006 and is closed at 10,173 on Monday, February 13, 2006. The...
Gaps that Give Up the Ghost: Positive Correlations and Covariance with Event-Driven Peer Group Price Reactionsby Mack Thomson
As a measure for sector out-performance, relative strength naturally highlights areas that are doing well in the stock market. When coupled with the fundamental screens that are commonly used by...
New York Region Monthly Meeting
Below are some pictures that were taken form January 17th, during the New York Region monthly meeting. This even featured Jordan Kotick, CMT, the President of the MTA, Steven Poser, Regions Committee...
Financial Words You Won’t Hear on TVby Sam Levine, CMT, CFA
Financial people talk in shorthand to communicate a large amount of information quickly. After twelve years of listening to boring phrases like, “chasing yield”, and “way overweighted in…”,...
John R. Kirby
Jordan Kotick, CMT
Dave Landry has been have been actively trading the markets since the early 90s. In 1995 he founded Sentive Trading, LLC, a trading and consulting firm. He is author of Dave Landry on Swing Trading (2000), Dave Landry’s 10 Best Swing Trading Patterns & Strategies (2003),...
Mohan Turaga is a Chemical engineer and a Petroleum refiner by profession. He worked for 20 years for Indian Oil Corporation (IOC) and voluntarily separated from IOC with a liberal retirement package at the age of 46. Now, at 51 years of age, his retirement benefits are...
Mack Thomson, a dual national of the U.S. and the UK, has been an Affiliate of the MTA since 2000 and a stockbroker since the late 1990s. Based in Miami, Mack’s trading concentrates on set-ups that are both event-driven and technically derived using pullbacks on high RS...
Sam Levine, CMT, CFA
New Educational Content This Month
June 7, 2023
The 5% Canary
Presenter(s): Andrew Thrasher, CMT
May 24, 2023
The Four P’s of Investing
Presenter(s): David Lundgren, CMT, CFA
May 17, 2023
Using Technical Analysis to Develop Options Trade Ideas
Presenter(s): Greg Harmon, CMT