Today, I am going to bring you up to speed on a few items that should be of interest.
Seminar Thursday August 19
This Thursday, August 19th at 7:30 PM EST the CSTA (Canadian Society of Technical Analysis) is doing an all-chapter Zoom webinar featuring yours truly. I will be walking attendees through the concepts discussed in my new book. As I developed the presentation, I realized that I should have written at least part of a chapter in the book on how to develop a contrarians mindset. As such, I had a bit of fun creating new material surrounding the use of logical questioning techniques when viewing a crowded opinion. This extends beyond the usage of sentiment studies. Hopefully you can join me for – what I expect to be – an eye-opening engagement. Here is the link for more information. I don’t anticipate access to a recording of the webinar for the public – so be there, or be square!
Brooke Thackray seasonal investing newsletter
For those who do not already subscribe to Brooke Thackray’s seasonal investing newsletter, I continue to encourage you to do so. Each month, Brooke covers the sectors that you need to be keeping an eye on for opportunistic buying opportunities – and upcoming periods of seasonal weakness. This month, Brooke also wrote a very kind brief of my new book, Smart Money, Dumb Money. Here is the link to the newsletter. There, I would further encourage you to subscribe to the letter (its free!) if you do not already do so.
Thankyou to all who participated in our survey enquiring about the viability of producing a professionally produced Technical Analysis course. 174 participants who took place in the survey indicated a positive response to taking such a course. Below are the summarized results with my comments.
- Level of sophistication: An Intermediate level of course materials was the prevailing “fat part of the bell curve” when it came to this question. Beginner and Advanced were roughly equally split.
- Topics of most interest: By and far, the two topics with the greatest interest for the course would be how to create a structured approach to trading and investing, and how to identify new and emerging opportunities.
- Length & cost: As far as how many hours participants in such an educational program would be willing to dedicate to the course, the survey came up with a bit of a puzzle. Participants could choose between 3, 5, 7 or 10 hours – and the two overwhelmingly popular choices were 5 and 10 hours. As far as cost, the median cost participants said they would like to see was $110.
Summary: I will likely end up doing two courses, the second one totally depending on the popularity of the first course. My thought, based on the survey results, is that I would start with an intermediate-level course. This course would incorporate a very short segment at the beginning to review basic technical analysis principles such as trend analysis. So it would be appropriate to the people who were interested in a basic level of material. But I want to primarily focus on – as dictated by the participants of the survey -creating a structured trading and investing approach. That would incorporate some ideas on how to uncover prospective trading opportunities. Of course, any structured approach incorporates rules involving position sizing, buy/sell triggers, etc. There’s lots of material in there to cover. As far as the length, I expect that we’d be looking at somewhere near 7 hours total time. This would include the time to answer quizzes and that type of thing.
Finally, the cost. I have been quoted (assuming all of the above) between $4000-$5000 to produce one course. Remember, this is a professionally filmed and produced program with a proven structured protocol. This program would be akin to those training programs offered by corporations when training employees, etc. I expect that we will offer the course for $99. My thoughts are that (assuming $5k cost) I will break even on 50 participants – which seems a reasonable assumption. And truthfully, that’s really all I want to do on the course – if I make a few more bucks past breakeven, that’s great, but the big goal is to help more of you learn Technical Analysis. These days, it is easy to be cynical about people and business. But, in all sincerity, after 32 years in this business, I now focus on leaving a footprint and passing my trade on more than most other things. ‘Nuff said.
Good news for those who participated in the survey– I intend to provide a very hefty discount in return for your kind responses. Give it a while, as I anticipate it will take a few months to create the program, but survey participants will get an advance email notice before the course is released to the public.