From the Editor’s Desk
We start the New Year with a new look for Technically Speaking. Tim Licitra has been working hard to make this newsletter more visually appealing, and in the coming months he’ll continue to lead this effort. If you have any suggestions, don’t hesitate to contact him. As you’ll read throughout this issue, the MTA is trying to actively engage all its members in the business of the Association. This theme is found in articles by Charlie Kirkpatrick, CMT about the MTA Educational Foundation, the letter from Executive Director Tom Silveri, and the short note from our newly appointed Volunteer Czar, Fred Meissner. CMT. I hope you’ll consider contacting Fred and getting more involved – we need your help.
Although we include a lot of MTA news, this month’s issue also presents some practical investment research and a brief article on trading psychology. Larry Connors from TradingMarkets.com recently completed some research on the best trading days of the month, and we are able to reprint that. This work could form the basis of a futures trading strategy or can help you time monthly mutual fund purchases. Without a doubt, it has applicability to all traders. Andy Ratkai, CFA, recently published an article reminding us to rely on our own work, and not to become overly invested in the opinions of others. It seems like a nice way to start trading this year, consciously resolving to ignore the talking heads on CNBC and in the press and doing our own work.
Finally, Dave Aronson, CMT, has written a book asking us to think about raising the bar in our research. Statistical significance would increase the credibility of technical research and should increase your trading profits, a true win-win outcome.
I conclude by quoting an old Wall Street adage, “May your best trade of last year be your worst trade of the New Year.”
Mike Carr, CMT
Editor, Technically Speaking
From the Executive’s Deskby Tom Silveri
Happy New Year to everyone! 2007 will be an exciting year for the MTA, and the Headquarter staff is looking forward to continuing to serve our Members and Affiliates with new and exciting...
Market Technicians Association Educational Foundationby Charles D. Kirkpatrick
Summary The Market Technicians Association Educational Foundation formed as a nonprofit corporation in 1993. Its purpose is to encourage academia and university students into the study and acceptance...
Meet the MTA Staff
Jeanne Farrelly has been with the Market Technicians Association (MTA) since August 2004. She is the Web Presence Manager overseeing the functionality of the internal and external website. The...
The Fox, the Hedgehog, and the Economistby Andre Ratkai, CFA
In a now famous 1953 essay on Russian author Leo Tolstoy, Isaiah Berlin resurrected the idea of dividing the world into people who were more like foxes, and those who thought like hedgehogs....
“Evidence-Based Technical Analysis” By David Aronson, CMTby Michael Carr, CMT & David Aronson, CMT
In this thought-provoking work, David Aronson, CMT tests more than 6,400 technical analysis rules and finds that none of them offer statistically significant returns when applied to trading the...
When Do Money Managers Like to Buy Stocks? Here’s the Answer...by Laurence Connors
Do money managers pile into the stocks at the end of the month in anticipation of 401k and savings money coming in? Well it looks like they do…big time! In 1999, Kevin Haggerty wrote about this...
Market Technicians Association Technical Analysis Internship Program 2007 Applications Now Being Accepted
Currently, we are accepting applications for the next MTA Internship Program – tentatively scheduled for early 2007. The course of study will include Stocks, Bonds, Futures and Options; and...
Internship Testimonialby Larry M. Berman, CMT, CTA, CFA
Early in my career, I heard about the MTA’s internship program. I thought it could be the perfect launching point to my development as a professional technical analyst–as it turned out, it...
Volunteering for the MTAby Fred Meissner, CMT
The new Executive Director of the MTA, and the Board, have asked me to become a “Volunteer Czar” for the membership, which would entail assisting Members and Affiliates who wish to volunteer to...
New Educational Content This Month
December 6, 2023
Marrying Fundamental and Technical Analysis for Independent RIAs
Presenter(s): David Rath
November 22, 2023
Utilizing Trend & Mean Reversion in Breadth Studies to Gauge Market Conditions
Presenter(s): Victor Riesco
November 18, 2023
Beating the Bench
Presenter(s): Scott Brown, CMT