From the Editor’s Desk
Although September is seasonally a weak month for the stock market, it looks like a pretty strong one for the MTA and Technically Speaking. On the cover, long-time MTA Member and cycles expert Peter Eliades pays tribute to James M. Hurst, who passed away on August 18th at the age of 81. Mr. Hurst is one of the founding fathers of technical analysis. His classic book, “The Profit Magic of Stock Transaction Timing”, was the reason Peter chose technical analysis as his life’s work.
Inside, there are some terrific educational articles by Dave Landry on swing trading (Part 2 in a 3-Part series), by Larry Connors on up days in a row versus down days in a row in the stock market, and on inflation-adjusted stock market trends by Dr. Brett Steenbarger.
In addition, our Executive Director John Kirby gives us a progress report in the MTA’s transition to our new technology platform, Net Forum by Avectra. Early this year, fellow MTA Board Member Duke Jones and I were personally involved in the process of evaluating our then-current platform, and deciding whether the Association needed to make a change. Although change is always difficult and this situation was no exception, Duke and I determined that it was imperative for the MTA to move to a platform that could accommodate its recent growth, and handle the additional growth expected in the years ahead. Duke and I believe this platform will be the gift that keeps on giving to the MTA in the years to come, and would like to thank John Kirby and his staff for all their hard work during this transition period.
Please take a look at the line-up of speakers and agenda for the 18th Annual IFTA Conference in Vancouver in early November, hosted by the Canadian Society of Technical Analysts (CSTA), and the MTA’s 2005 Mid-Winter Retreat in mid-January in Miami Beach. Two great locations, and two great opportunities to learn from and network with other technicians. Check them out.
Finally, Technically Speaking would like to welcome four new Contributing Editors; Matt Blackman, Mohan Turaga, Jeannette Young, CMT and Garry Rissman. We look forward to reading articles and reviews by these MTA Members in future issues. The MTA still needs more Associate Editors. If you are interested in getting involved with Technically Speaking, by writing an article, covering a regional meeting, whatever, please contact me at firstname.lastname@example.org. All Contributing Editors will be sent a digital camera with all the accessories so we can include more photos in futures issues. We all know technicians like pictures!
Hope everyone enjoys this issue.
John Kosar, CMT, Editor
From the President’s Desk The Men Behind the Curtainby Jordan Kotick, CMT
It will come to no surprise to anyone that I am bullish on the CMT. I am bullish on the growing global interest we are receiving, especially from Europe and India, I am bullish on our SRO success and...
From the Executive Director’s Desk Training Training Trainingby John R. Kirby
Have you ever had dental surgery? Ever had it for three days? As I write this column your staff at the MTA, Marisa, Marie, Cassandra, Jeanne, and Tim are all going through three days of intensive...
In Memory of James M. Hurstby Peter Eliades
J. (James) M. Hurst was born in Salina, Kansas on September 2nd, 1924 and died in his sleep on August 18th, 2005 in Roseville, California, just weeks short of his 81st birthday. It is safe to presume...
Regions Updateby John Kosar, CMT
The Board has recently voted in some new guidelines for Regions. The purpose of these new guidelines is to better clarify the relationship between the Regions and the MTA Board. They are listed...
Don’t Miss the International Technical Analysis Event of the Year! - Digging for Gold Vancouver – November 3, 4 & 5, 2005by Matt Blackman, CMT
The Canadian Society of Technical Analysts (CSTA) is hosting the 18th Annual IFTA Conference this year in beautiful Vancouver, British Columbia, Canada. Entitled Digging for Gold Vancouver 2005, it...
A Long-Term Look at the Marketby Brett N. Steenbarger, Ph.D.
Below we have a long-term chart of the Dow Jones Industrial Average from January, 1950 through early August, 2005. Note that the Dow has been adjusted for the Consumer Price Index (CPI) to reflect...
The Foundation For Successful Swing Trading, Part 2.by Dave Landry
Placement of the initial protective stop is as much of an art as it is a science. Too close and you will almost surely guarantee yourself a loss as the “noise” of the market will stop you out....
Up Days in a Row vs. Down Days in a Rowby Laurence Connors
What does the market do after it rises or falls consecutive days in a row? Common wisdom states that a market that rallies a few days in a row is strong and a market that drops a few days in a row is...
MTA Welcomes... Mohan Turagaby John Kosar, CMT
I would like to introduce and welcome new Technically Speaking Contributing Editor Mohan Turaga. Mohan, who is from India, adds a little international perspective to our Newsletter, which I think is...
New Educational Content This Month
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
October 25, 2023
Equity Risk & Potential – Q4, ’24 & Beyond
Presenter(s): Timothy Hayes, CMT