The joke running around the Internet is that this 2020 Leap Year had 29 days in February, 300 days in March and five years in April. It is already a year of biblical proportions, with locusts swarming in Africa, the global plague of COVID-19, and then murder hornets arriving in Washington state. The foot of snow that fell in the Northeast on May 8 seemed mild, but we can just wonder if June is thinking, “hold my beer.”
Yes, it is a different world. Millions are out of work, yet the stock market is on the road to recovery. I hold my tongue when my online friends wonder how that could be. It brings me to a quote from former Association president Phil Roth, who said, “The biggest mistake a fundamental analyst makes is thinking a stock and a company are the same thing. The biggest mistake a technical analyst makes is thinking they are different.”
But wait! There’s more!
Let’s not forget that crude oil traded at negative numbers in April thanks to the destruction of demand in the pandemic and so much supply that there was literally no place to put it. And the government is flooding the market with so much liquidity that negative interest rates seem to be a given in the U.S., as they already are across Europe and the world. The Fed wants to buy junk bonds, for crying out loud!
But again, in a world where many businesses were mandated to close, that fortunately does not apply to most of us in the Association. Our businesses can exist in a no-touch world. And it is our responsibility to keep going, and to be thankful.
In this month’s issue, we are thankful for the time spent with several technicians who have passed away. Tony Tabell, the second Association president is memorialized by Ken Tower, who worked for him long ago. Kenneth Safian, a long-time member and contributor also left us, as did Jim Schmidt, publisher of Timer Digest.
The CMT Association’s own Barbara Terry has a great story about the initiative between the CMT Association and the CFA Association in Minnesota to fight hunger.
Also in Minnesota, that Chapter held its first virtual meeting with speaker Mark Newton, CMT.
This month’s member interview is with Jim Erdmier, CMT, co-chair of the Chicago Chapter. We acknowledge members who were finalists and winners in their categories at the Technical Analyst (magazine) Awards. And, of course, we’ve got a few encouraging words from the CMT Association president and other Association news as we continue to mint fresh new CMTs.
Lockdown, schmockdown! The CMT Association is open for business!
Michael Kahn, CMT
President’s Letterby Scott G. Richter, CMT, CFA, CHP
Greetings All! I hope you are all staying safe and well in this COVID-19 situation. The instability this creates is hard. There is no denying it. Of course, the flip side is true, too. In the wake of...
CMTs Honored by The Technical Analyst 2020 Awardsby Tyler Wood, CMT
The U.K.’s premier technical analysis publication The Technical Analyst recently announced its 2020 Awards celebrating the best in technical analysis, data and trading software. The CMT Association...
Chat with Gautam Shah, TA Award Winnerby Marianna Tessello
The CMT Association reached out to Gautam Shah, CMT, CFTe, MSTA, Founder & Chief Strategist at Goldilocks Premium Research and winner of the Technical Analyst of the Year title in the...
In Memory of Tony Tabellby Ken Tower, CMT
Anthony (Tony) Tabell, 88, founding member and third President of the CMT Association, died peacefully on Monday, April 27, 2020. A lifelong student of the market, Tabell followed in the footsteps...
Remembering Ken Safianby Michael Kahn, CMT
Longtime member Kenneth Safian, president of Safian Investment Research, passed away on April 9, 2020, at age 83. Ken was a graduate of the Wharton School at the University of Pennsylvania. He...
Remembering Jim Schmidtby Michael Kahn, CMT
Jim Schmidt, owner and publisher of Timer Digest, passed away on April 21. Those of us who hail from the southern California area know his voice well, as Richard Saxton at Channel 22 television in...
Minnesota Chapter Speaker Summaryby Mahesh Johari, CFA
The Twin Cities Chapter of the CMT held a virtual meeting on April 21 in accordance with Minnesota guidelines for social distancing during the pandemic. The guest speaker was Mark Newton, CMT,...
Public Service Announcement: Pure Gobbledygookby Michael Kahn, CMT
In the past, I have given seminars on how we technicians should write for and speak to the media. The emphasis was on plain language and, if jargon was required, it should be accompanied by plain...
Member Interview with Jim Erdmeierby Jim Erdmier, CMT
Please tell us what you do professionally. I am a prop trader specializing in equity index futures. I trade on a short-term, intraday basis using technicals and order flow. In addition, I am...
The Sheridan Storyby Barbara Terry
Together, members and friends of the Minnesota Chapter of the CMT Association and the CFA Society of Minnesota are matching all donations to The Sheridan Story, up to $500,000. The Sheridan Story...
Hurst Time Cycle event with Ashish Kyal, CMTby Ashish Kyal, CMT
Ashish Kyal, CMT, held a training event in April on the topic of combining Hurst’s time cycles with Elliott Wave theory for better strategies. Ashish noted Hurst’s principal suggestion that there...
Membership Newsby Marie Penza
Members on the Move The CMT Association would like to congratulate the following members on their new positions: Jay Thakkar, CMT, Vice President & Head of Equity Research at Marwadi Shares and...
New Educational Content This Month
We continue to host a broad range of learning opportunities online, which recently included a presentation on Money Flows by the Brogan Group, as well as other informative discussions, including TradeIdeas and many more. See what’s new in the past month, and visit our archives to continue learning.
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