Technically Speaking, February 2019

So far, this year has been dominated by the partial government shutdown. Does it affect the markets? Well, maybe indirectly. New issue IPOs are held up due to a lack of resources at the regulators. Tax refunds may be delayed, so investors might be a little cash tight. And most important of all, the shutdown and specter of a second downgrade of U.S. sovereign debt looms large. The deadline to raise or suspend the debt ceiling is just weeks away.

Volatility in stocks remains high, bitcoin seems to be fading from interest, and for the first time in a long while gold shows signs of life. Naturally, the flattish yield curve, Brexit, and slowing global growth made the pundits warn of gloom and doom. Don’t tell Mr. Dow and Ms. Nazzie (or their Brazilian cousin Bovie).

This month, the theme here centers on jobs. No, not jobs in the general economy, but jobs for technicians. We surveyed a group of technicians who took the plunge and went out on their own. After all, the number of direct, salaried jobs on the Street has dwindled – we’ve also got an article about a TA veteran who made that very point and told us what he did about it. The bottom line is that technical analysis is a very valuable skill to have, and where there’s a will, there’s a way to use it to make a living.

Next, Dan Russo, CMT, offers his views on risk management, which is a very important topic for all of us.

Of course, we’ve got news from around the association with chapter reports, CMT information, this month’s interview with George Schade, CMT and a review of the Mike Epstein Award presentation to Dave Lundgren, CMT, CFA by Julie Dahlquist, Ph.D., CMT.

– Michael Kahn, CMT

What's Inside...

Symposium Time: Learn – Connect – Grow

The 2019 CMT Association Annual Symposium will take place April 4-5 in New...

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What the Downfall of LTCM Taught Me About Risk Management

This article was originally published on ChaikinAnalytics.com last November and is reprinted here with permission.

Let me share a cautionary...

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Chicago Chapter Meeting Review

2018 was a year of star-studded events for the Chicago CMT Association chapter, culminating on November 8th with JC Parets,...

Read More

Hanging Your Own Shingle

Far from being a roofer, hanging a shingle means opening an office or business, especially in a profession....

Read More

A View of the TA Business from a Veteran

When asked what he thought about the career path for market technicians, industry veteran Rick Bensignor said, “I wouldn’t in...

Read More

Minnesota Chapter Meeting Review

Fred Meissner, of the FRED Report, presented to our group on January 15, 2019.  Fred has a 36-year career in...

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George Schade, CMT Interview

Please tell us what you do professionally. I am retired now from a 42-year career practicing law and serving as...

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Mike Epstein Award

The Technical Analysis Educational Foundation awarded the 2018 Mike Epstein award to Dave Lundgren. Dave holds both the CMT and...

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2019 CMT Curriculum Texts

The 2019 CMT Program texts are now available from Wiley at https://www.efficientlearning.com/cmt/.

This year, in addition to keeping the...

Read More

President's Letter

Symposium Time: Learn – Connect – Grow

The 2019 CMT Association Annual Symposium will take place April 4-5 in New York City.  We will gather with 250-300 peers and thought leaders from around the world and discuss markets, share ideas about all things technical, and size up the industry.  

Bill Kelleher, Tyler Wood, Alvin Kressler and the staff at the CMT Association 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)

Scott G. Richter, CMT, CFA, CHP

Scott Richter, CMT, CFA, CHP is a senior portfolio manager for Westfield, which manages over $4B in AUM.  He is the lead portfolio manager for alternative assets and is also responsible for investments in the energy and utility sectors.  He was formerly...

What the Downfall of LTCM Taught Me About Risk Management

This article was originally published on ChaikinAnalytics.com last November and is reprinted here with permission.

Let me share a cautionary tale about risk management.

I will never forget the story of the hedge fund, Long Term Capital Management. I was a senior in college and very interested in a career on Wall Street. One of my teammates from the hockey team, a year older...

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)

Dan Russo, CMT

Dan Russo, CMT is a portfolio manager and director of research at Potomac Fund Management. Prior to joining Potomac in March 2021, he was the Chief Market Strategist at Chaikin Analytics. Dan was an institutional sales professional for more than a decade at...

Chicago Chapter Meeting Review

2018 was a year of star-studded events for the Chicago CMT Association chapter, culminating on November 8th with JC Parets, CMT, of All Star Charts. Also presenting at the meeting was Tom Bruni, who is a technical analyst at All Star Charts. As per usual with meetings featuring JC, the house was full with 47 members and guests. Seats were in shorter supply than...

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)

Jim Erdmier, CMT

Jim Erdmier, who holds a Chartered Market Technician (CMT) designation, has been trading privately and institutionally for 10 years in equities, FX, and futures. He is pursuing a degree in Finance and Computer Science at DePaul University. Jim is Co-Chair of the...

Hanging Your Own Shingle

Far from being a roofer, hanging a shingle means opening an office or business, especially in a profession. In the first half of the 1800s, lawyers and later doctors and businesses, used shingles for signboards to advertise that they were open for business.

For many of us, working in the investment arena often means finding a job in a big...

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 Kahn, CMT

Michael Kahn, who holds a Chartered Market Technician (CMT) designation, is a seasoned financial services strategist, analyst, columnist, educator and speaker.  Michael has been working with charts and technical analysis since 1986. He is the author of three books on technical analysis...

A View of the TA Business from a Veteran

When asked what he thought about the career path for market technicians, industry veteran Rick Bensignor said, “I wouldn’t in a million years recommend anyone try to make a living simply doing technical analysis. There is simply no market for it.”

This statement is not as dire as it looks and let’s state up front that Rick believes 100% in technical analysis. He simply...

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 Kahn, CMT

Michael Kahn, who holds a Chartered Market Technician (CMT) designation, is a seasoned financial services strategist, analyst, columnist, educator and speaker.  Michael has been working with charts and technical analysis since 1986. He is the author of three books on technical analysis...

Minnesota Chapter Meeting Review

Fred Meissner, of the FRED Report, presented to our group on January 15, 2019.  Fred has a 36-year career in investment finance spanning a variety of roles.  His talk was about Advances/Declines and related indicators; he told us that the NYSE Composite is a better representation of the economy and marketplace than the narrower S&P 500 index. 

As for specific technical tools, Fred talked...

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)

Mahesh Johari, CFA

Mahesh Johari is an independent investor based in the Minneapolis area. He holds degress in mathematics and economics from the University of Illinois and the University of Arizona.

George Schade, CMT Interview

Please tell us what you do professionally. I am retired now from a 42-year career practicing law and serving as a trial court judicial officer. My involvement in technical analysis has chiefly revolved around the Market Technicians Association (CMT Association) in whose activities I was involved almost from the first day of my first MTA conference in 1987. In my first 20 years 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)

George A. Schade, Jr., CMT

George A. Schade, Jr., who holds a Chartered Market Technician (CMT) designation, has written extensively about the people and innovations that have advanced the field of technical analysis within financial markets. A member of the CMT Association since 1987, he has written about...

Mike Epstein Award

The Technical Analysis Educational Foundation awarded the 2018 Mike Epstein award to Dave Lundgren. Dave holds both the CMT and CFA designations and serves on the Board of Directors of the CMT Association.  In addition, he serves on the CMT Association audit committee, and chairs the organization’s advocacy committee, which works to increase investor awareness of the many advantages of incorporating technical analysis into...

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)

Julie Dahlquist, Ph.D., CMT

Julie Dahlquist, Ph.D., CMT is Professor of Professional Practice in the Finance Department at Texas Christian University (TCU).  Previously, she served on the faculty in the business schools at University of Texas at San Antonio and at St. Mary’s University. Her teaching...

2019 CMT Curriculum Texts

The 2019 CMT Program texts are now available from Wiley at https://www.efficientlearning.com/cmt/.

This year, in addition to keeping the content robust and consistent with the goals of the CMT Program, special attention was given to the learning structure and reading flow of the texts, particularly Levels I and II.  This should make the study process smoother and better support candidates in persevering through...

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)

Stanley Dash, CMT

Stanley Dash is the CMT Program Director at the CMT Association, a global credentialing body. In this role, Mr. Dash works with subject matter experts, candidates, and the Association’s members to maintain and improve the curriculum, the test experience, and the value...