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 This is not about outdated clothing from the 1940s, but rather a relatively new analytical technique (at least to me) that has received some attention recently on the Market List email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