From the Executive’s Desk
The spring CMT examination “window” is from April 25 – May 5, 2007. The entire MTA Staff would like to wish all of the CMT Exam test takers the best of luck. During this tough and stressful time, feel free to contact us with any questions or concerns.
This month we have a very special event, the Annual Education Seminar. Being held in New York City from May 18th-19th, we have some of the finest technicians presenting on a wide array of topics. We strongly urge our membership to try and attend, especially those in the NY area. I would also like to thank our sponsors, TradeStation, ProShares, Fidelity, Bloomberg, and eSignal for contributing to what is shaping up to be a sensational event.
I would also like to thank those of you who have mailed back your proxy cards for the Board vote. For those of you that have not done so, please try and have your proxy mailed to us by May 17th. Your input is important to the MTA! The voting proxy cards will be counted at the MTA’s Annual Meeting, held on May 20th, at 10:15 AM EST. All of you are invited to attend this meeting, and to join us at the MTA Headquarters for an open house and breakfast earlier that morning (9:00 AM – 10:15 AM).
I look forward to the opportunity to seeing you at these two important MTA events.
Sincerely,
Tom Silveri
MTA Executive Director
What's Inside...
Technical Analysis of Stock Trends, Ninth Edition By Robert D. Edwards, John Magee and W. H. C. Bassetti
by Michael Carr, CMT & Robert D. Edwards & Charles BassettiIf Edwards and Magee wrote the bible of technical analysis in 1948 when they first published “Technical Analysis of Stock Trends,” then why do we need a Ninth Edition of their classic? This...
JOHN MAGEE
by George A. Schade, Jr., CMTThis article was originally published in “Technically Speaking” in April 2005 and is being reprinted this month as part of our focus on Edwards & Magee. John Magee is one of the most well...
W. H. C. Bassetti
by Michael Carr, CMTBefore reading the ninth edition of Technical Analysis of Stock Trends, I asked myself what type of person would take on the task of updating the bible of technical analysis? This daunting task was...
Meet the MTA Staff
When you call the MTA Headquarters in New York City, chances are the first person who will answer the phone is Cassandra Townes. Cassandra joined us in January 2003, and, along with handling our...
HOW THEY DO IT WILLIAM O’DONNELL Technical Analyst UBS US Interest Rates Strategy Group
by Molly SchillingUBS built their USA Headquarters in Stamford, Connecticut – just 45 minutes by train out of New York City. The architecture is stunning – a contemporary design with huge 5 story windows across...
If Edwards and Magee wrote the bible of technical analysis in 1948 when they first published “Technical Analysis of Stock Trends,” then why do we need a Ninth Edition of their classic? This question was foremost in my mind as I began reading this recently released version of a book I spent many hours with as I prepared for the CMT exams. After reading all 832 pages, I realized that in many ways, the financial markets, and technical analysis, are finally maturing to the point where we can fully grasp the significance of what was first written almost sixty years ago. With a focus on pragmatic portfolio theory, editor Charles Bassetti significantly contributes to the technical analysis body of knowledge especially related to tactics, and has created a book worth a space on every technician’s bookshelf. In this edition, Bassetti delivers much more than an update – it’s actually a new
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 Carr, CMT
Mike Carr, who holds a Chartered Market Technician (CMT) designation, is a full-time trader and contributing editor for Banyan Hill Publishing, a leading investment newsletter service. He is an instructor at the New York Institute of Finance and a contributor to various...

Robert D. Edwards
Robert D. Edwards and John Magee wrote the original edition of Technical Analysis of Stock Trends. Magee is considered the “father of technical analysis,” while Edwards was a pioneer in pattern formation and trend

Charles Bassetti
WHC Bassetti is the Editor and Coauthor of the classic reference, Technical Analysis of Stock Trends, 9th Edition, first written by Robert D. Edwards and John Magee in 1948. Mr. Bassetti traded as a student and client of John Magee in the 1960s, beginning a long, distinguished...
This article was originally published in “Technically Speaking” in April 2005 and is being reprinted this month as part of our focus on Edwards & Magee. John Magee is one of the most well known names in the field of technical analysis and is viewed as the leading authority on classical charting. All chart readers know the phrase “Edwards and Magee,” and John Magee is rightfully famous as the coauthor of Technical Analysis of Stock Trends, originally published in 1948. Magee graduated from MIT in 1923 and worked in a variety of sales and marketing jobs, including a position as a Fuller Brush salesman, until he met Robert D. Edwards in 1942. Edwards was the brother-in-law of Richard W. Schabacker, a Forbes financial editor in the 1920’s and later a New York Times financial columnist. When Schabacker died in 1935, Edwards took over Schabacker’s papers and the operation of the Schabacker Institute.
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...
Before reading the ninth edition of Technical Analysis of Stock Trends, I asked myself what type of person would take on the task of updating the bible of technical analysis? This daunting task was accepted by Charles Bassetti, a highly qualified technician who considered it an honor when the publisher asked him if he would update the work of his mentor and friend, John Magee. Charles began trading in 1960. In his own words, he did ‘some stupid things’ in the market, before a colleague introduced him to the work of Edwards and Magee. By 1963, he became of a client of Magee’s advisory service, and was fortunate enough to be able to spend many hours discussing chart patterns and trading tactics with Magee. Charles benefi ted from the expertise of Magee even after Magee retired in the late 1970s, as their friendship continued until Magee’s death in 1987. As a professional,
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 Carr, CMT
Mike Carr, who holds a Chartered Market Technician (CMT) designation, is a full-time trader and contributing editor for Banyan Hill Publishing, a leading investment newsletter service. He is an instructor at the New York Institute of Finance and a contributor to various...
When you call the MTA Headquarters in New York City, chances are the first person who will answer the phone is Cassandra Townes. Cassandra joined us in January 2003, and, along with handling our receptionist and office services matters, she is primarily responsible for the following key functions: Cassandra assists our Affiliates with the important accreditation process to become a full time Member of the MTA. As part of that process she directs applicants to the required application documents, assists in the gathering of required sponsorship recommendations and assists our Admissions Committee and the Board in the administration of this process. She is also responsible for fulfilling all requests for the MTA products, whether quiz cards, practice exams or our collection of DVDs. All materials are shipped immediately upon request. Cassandra is responsible for the oversight of the MTA library (now over 4,000 books in total) which includes the cataloging of all
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.
UBS built their USA Headquarters in Stamford, Connecticut – just 45 minutes by train out of New York City. The architecture is stunning – a contemporary design with huge 5 story windows across the façade of the building, and an interior stairscape that leads up to the fifth story all in one sweep – landings on each floor. Above the fifth story of executive offices, you come up (by elevator and through intense security) to what looks like an airplane hanger of wide open space with a four-story high ceiling complex of beautifully interwoven lighting and air-circulating equipment. This gigantic trading floor is built without columns or interior supports – there is no interference with a view to every periphery of the room twinkling with multicolored numbers and symbols. I met with Bill O’Donnell at his computer in this very exciting environment… William O’Donnell [WOD]: I’m William O’Donnell — I run
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)

Molly Schilling
Molly Schilling is an independent trader and freelance writer. Molly has been a member of the MTA since
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