This research was previous published in Quantifiable Edges, and investment newsletter available at http://www.quantifiableedges.com/ , and published by Rob Hanna, CMT. It is reprinted here with permission. Editor’s Note: The Opening Range Breakout is a classic trading technique employed by many very successful traders. However, very little has been written about it in the literature, perhaps because it works so well. This article provides more than enough detail to allow motivated market students to study the technique and builds on the existing body of knowledge by using pre-market data in the trading strategy. Opening Range Breakouts in tight markets Opening Range Breakouts (ORB’s) were popularized years ago by Tony Crabel. In his work he looked for narrow-range bars to occur as part of the setup. He would then expect an expansion in volatility and attempt to profit from that expansion by trading a breakout of an early morning range. Using slightly different tools

I am pleased to announce the MTA Educational Foundation project of filming the technical analysis lectures, our whole college-level introductory course in technical analysis, is about complete. With the help of a great group of volunteer professionals, the MTAEF filmed and archived 10 of the 11 lectures during my course at Fordham University in New York. One lecture, on Chart Construction, did not transcribe properly and we will do it over. Ken Tower will be kind enough to do redo it. Let me thank the volunteers personally for their help: Ralph Acampora, who did the Introduction; John Hughes, Trend Analysis; Scott Maragioglio, Pattern Recognition; Bruce Kamich, Momentum Analysis; Jonathan Arter, Cycle Theory; Louise Yamada, Relative Strength; and Bob Rossetti, Portfolio Management. I did the others: Volume, Sentiment and Supply/Demand, and Intermarket Analysis. Each lecture consists of two parts: 1) the live presentation by the speaker and 2) the Powerpoint charts we

Great News! The Detroit Chapter of the MTA had their inaugural meeting on September 10th and it was a great success. Ralph Acampora, CMT traveled to Detroit to speak to the new MTA Detroit Chapter. There were about 15 individuals in attendance, consisting of MTA members, investment professionals, and the public. He recounted the founding of the MTA, it’s storied history and cast his vision for the organizations’ future. Ralph did not fail to provide us with multiple gems of market wisdom, incredible stories and his take on the current market environment. Before the evening was out, he took time to answer every question from the audience, and then joined us for dinner afterwards at a local restaurant. The long term goal of this chapter is to help grow and increase the exposure of the MTA, and expand the importance of technical analysis, in the Detroit area. In doing so,

CMT Exam Registration – Level 3 Closes Friday! Registration for the CMT Level 3 Exam closes this Friday, October 2nd! The Fall 2009 testing window will be October 22nd – October 31st. It is our experience that those who wait until the end of registration to sign up encounter difficulty securing their desired time, date, and location as this is available on a first come first serve basis. Sign up today to ensure your preferred time, date, and location! Contact Marie Penza, 646-652-3300, for information on the CMT Program and/or to schedule your exam. For detailed instructions on how you can register online, please click here. MTA Podcast Series – Upcoming Schedule! Monday, October 5th – Larry Williams, renowned author and developer of Williams %R. Thursday, October 8th – Thomas J. Dorsey, President and founding member of Dorsey Wright and Associates. Visit the MTA Podcast Series page to listen to this podcast and subscribe to