The month of March is said to come in like a lion and go out like a lamb. If we apply that to this January, it was pretty much the reverse. After months of nary a hiccup, the stock market growled its way into the close and in the process wiped out its early gains.
It does seem that the market was set up for a problem, from overzealous sentiment to various valuation comparisons to 2000. Still, the real problem was knowing when. The market needed an excuse to do what it had to do and along came another deadly virus to virtually shut down the world’s second largest economy.
And what better time to think about what we did right and what we did wrong leading up to the top? Did we panic at the first whiff of the Hindenburg Omen? Was the CNN Fear and Greed Index our kryptonite? Did we play along with record unemployment? BTFD? Or panic when the yield curve arguably inverted again? Iran? China (the trade deal part)? Politics? Plunging oil? Plunging copper?
To all that, all the pure technician in me hears is, “blah, blah, blah.”
No, I’m not going to say none of that matters but it does make me appreciate the simply beauty in assessing price action itself. Or, as we say here in my new gig, Supply and Demand.
This month, we continue Bruno DiGiorgi’s History of Wall Street series with installment number five. We’ve also got a piece from a decade ago called The Top Technical Analysts, which answers the question many of us hear – “Where are the rich technicians?” It was written in 2013 so the numbers are off, as are some of the firm names. But it is a timeless story that should make all technicians proud, especially when doubt creeps in that our processes don’t work anymore.
This month’s member interview is with Greg Harmon, of Dragonfly Capital Management. Considering he never heard of the CMT Association until fairly recently, he’s gotten quite involved.
There is chapter news from New York and Minnesota, as per usual, and we once again plead for other chapters to let us know what is going on with their members and programs.
We’ve also got a list of CMT candidate resources, membership news and an invitation to submit a paper to one of our partner organizations. Don’t say there are no places for you to publish your ideas. And as always, we’d love to publish something you wrote right here in this newsletter. Can you think of a better place for beginners to share their ideas? Don’t worry, we don’t bite. In fact, we’ll help you develop your writing style.
Michael Kahn, CMT
President’s Letterby Scott G. Richter, CMT, CFA, CHP
This month, let’s talk about maintaining and improving your personal and professional momentum – “sharpening your tools”. Stephen Covey, the popular and successful self-help author promoted a...
Resources for CMT Candidatesby Stanley Dash, CMT
Many of you are beginning your journey towards earning the CMT charter. Others are moving on to the next step in the process. And we know that there may be some who have experienced a drawdown...
New York Chapter Speaker Summaryby Tom Bruni, CMT
On Wednesday, January 15, 2020, the New York Chapter hosted Larry Connors, Chairman and Principal Executive Officer and Chris Cain, CMT, Senior Quantitative Researcher from Connors Research LLC....
History of Wall Street - Part 5 of a Periodic Seriesby Bruno DiGiorgi
This is the fifth installment of a periodic series rerun chronicling the history of the street. The series originally ran in Technically Speaking beginning in September 2000. It’s Inauguration Day,...
Minnesota Chapter Speaker Summaryby Kyle Lottman, CMT, CFA, CPA
On January 21, 2020, 20 members of the Minnesota Chapter met at Piper Sandler’s headquarters to hear a presentation by John Kolovos, CFA, CMT, Chief Technical Strategist at Macro Risk...
Top Technical Analysts of All Time Share Their Secretsby Derry Brown
This is a blog post first published in 2013 on the New Zealand-based etfhq.com site, led by the author Derry Brown. That site is now inactive. The link for the original story is...
Member Interview – Greg Harmon, CMTby Greg Harmon, CMT
Please tell us what you do professionally. I have a multifaceted career. I manage money for clients in separate accounts using equities and options through a technical approach. I run a...
Chris Cain, CMT And Larry Connors Announced As 2020 Dow Award Winnersby Marianna Tessello
The CMT Association announced on Friday that Chris Cain, CMT and Lawrence Connors, of The Connors Group, are the 2020 winners of the CMT Association’s prestigious Charles H. Dow Award. The pair...
NAAIM Competition Founders Awardby Tyler Wood, CMT
The National Association of Active Investment Managers (NAAIM) invites members of the CMT Association to submit research to their annual Founders Award. The Founders Award is a research competition...
Membership Newsby Marie Penza
Members on the Move The CMT Association would like to congratulate the following members on their new positions: Cody Tafel, CAIA, CMT, Investment Strategist, Strategic Advisory Group at TSW...
Chris Cain, CMT And Larry Connors Announced As 2020 Dow Award Winners
New Educational Content This Month
October 19, 2022
New Horizons on the Relative Strength Index
Presenter(s): Sofien Kaabar, CFA
October 12, 2022
Are The Streets Still Smart? Evaluating Swing Trading Strategies in Modern Markets
Presenter(s): Davide Pandini, PhD, CMT, MFTA, CSTA
September 14, 2022
Candlestick Analysis, Enhancing Portfolio Management Returns
Presenter(s): Stephen W. Bigalow