Jordan Kotick is one of the key people that early in my career inspired me to be more intermarket oriented. They would ask Jordan about the S&P500 and he would go into a tangent about bonds. They would ask him about Emerging Markets and he’d whip out, what he refers to as, “Chinese Dow Theory”. For over a decade, Jordan was the Managing Director of Macro Strategy at Barclays and then Managing Director of Cross Asset Strategy at RBC Capital Markets. He is the first person to have ever been president of both the CMT Association (then called the MTA), and the Canadian Society of Technical Analysts (CSTA). In this podcast episode we talk about some of the great lessons Jordan learned over the years and what sorts of markets and charts investors should be paying attention to in the current environment. This was a really fun conversation and was great to catch up!
I can’t believe I’m publishing the 100th Episode of this podcast that I started in the summer of 2017. My first guest ever was Ralph Acampora! I mean, how could it not be right? Since then I’ve had the privilege of interviewing Portfolio Managers, Traders, Analysts, Best Selling Authors and even a World Series of Poker Champion! People all over the world have approached me how much they’ve learned from listening to the podcasts. It’s been an amazing experience for me all around.
Since it’s Episode 100, how can I not invite Ralph back on the show to talk markets? In this episode Ralph describes the recent trip that him and I took to India. We both had an awesome time and are blown away by the interest out there for Technical Analysis. It really is incredible. He thinks we’re going to see breakouts in Gold and Silver soon but that’s not necessarily bad for stocks. Both can rise together.
I always enjoy my conversations with Ralph. He has great old stories about technicians that we’re too young to remember or even know about. He’s good with giving credit to some of his predecessors that probably don’t get the recognition these days that they deserve. Louise Yamada for example gets a lot of credit for the phrase, “The bigger the base, the higher in space”. But she’ll tell you that she got that from her boss and mentor Alan Shaw. And Alan will tell you that he learned it from his boss.
So I think it’s important to remember the ones who came before us. I would argue that over 95% of what you see me do, say and talk about comes from something I learned from my colleagues and/or predecessors. I didn’t make any of this stuff up. The credit goes to all of them and in most cases they have all been guests on this podcast. I want the world to be able to learn from the people that I learned from and continue to learn from every day. Ralph is a great example, obviously!
This week on the podcast I’m thrilled to have Quint Tatro join me as our guest. I’ve been following his work for a long time and have always appreciated his technical approach to managing portfolios at his advisory firm Joule Financial. This was a great conversation where Quint walks us through how he got to Technical Analysis in the first place and how he applies those methods on a daily basis. We went over the overall stock market and how he wants to overweight International Stocks and Emerging markets heading into 2020. He also likes Gold bigger picture here and the mining stocks that come a long with it. I really enjoyed this one. Give it a listen!
Walter Deemer has been a Technical Analyst for 57 years, after starting his career at Merrill Lynch working for legendary Technician Bob Farrell. He is a founding member and past president of the CMT Association and coined the phrase, “When the time comes to buy, you won’t want to!”,which is the title of one of the books he’s authored. We’re lucky to have someone on the podcast who was in the business at a time when interest rates were NOT in a downtrend! In this episode, Walter talks to us about what it was like charting in the 1960s and 70s and what sentiment was like as we entered the 1980s and one of the greatest economic expansions in America history. “Watch their feet, not their mouths”, is what Walter Deemer says when he encourages us to look at what investors are doing, rather than their opinions. This was a great conversation where we discuss what he calls our “Shoulda Fund” and what the Breakaway Momentum Strategy (breadth thrusts) means to him. I really enjoyed this one!
This is a mashup of 3 live conversations I had with market experts at the CMT Symposium last month. Andrew Thrasher joins us to talk about market breadth. David Keller and I discuss how hard it is for people, especially market participants, to say “I don’t know”. And Rob Koyfman, the founder of Koyfin Charts, explains how investors all over the world are using his groundbreaking data analytics tools.
This week we have a special guest on the podcast: Eddy Elfenbein of Crossing Wall Street and PM for the $CWS Exchange Traded Fund. This is a show about Technical Analysis so I think it’s important to also include some of the masters of Fundamental Analysis to tell us how they find charts and technicals helpful in their process. Eddy is one of the original Financial Bloggers and I have a ton of respect for him and his work. He is a pioneer in both social media and portfolio management. I love how he explains his appreciation for Intermarket Analysis and Relative Strength as useful tools throughout his process. As many of you know, these two are near and dear to my heart so it’s cool to see the Fundamental community embracing them in similar ways. This was a fun conversation!