I think I will write this post (and maybe all future posts in letter format.)
Anyways, this week has been hectic. As many of you know I have had my nose to the books studying for my upcoming CMT Level I exam that is just a few weeks away. I had a few people express curiosity in the subject matter so I figured I would share a couple quick take-aways from my experience thus far.
1. It is an investment.
This means you will be paying $225 for a (new) curriculum text book, $250 to enroll in the CMT program, $325 for an annual CMT membership and $375 registration fee for the exam bringing you to a total of $1175 which is a decent amount of money.
There is of course slight downside risk involved in this investment, failing the exam will require further expenditures of at minimum a repeated registration fee.
You must also invest time. Now, so far, a lot of the content I have gotten through in the text are concepts we utilize every day as traders, but that being said I have been dedicated to reading the text in it's entirety. And again, so far, I have been able to bang out 2 chapters a day giving it roughly 2-3 hours (depending on how much Twitter distracts me) of my time.
There is not a CMT Level I title. It's all 3 levels (which ultimately give you the title of CMT) or bust, which means you will be looking at 2 more rounds of similar costs on top of this first investment before you get to own those three letters. This can be accomplished in approximately a year given the seasonal offerings of exams (Fall-Spring-Fall) or longer if you so choose.
2. This is a PROFESSIONAL certification.
In order to obtain the CMT, along with having met all of the above criteria you must work in a professional analytical or investment management capacity for a minimum of THREE years; you must be regularly engaged in this capacity at the time of passing the final CMT Exam.
Along with this, you also must have 3 current CMTs sponsor you in the process.
So the point is, even if you love technical analysis, have been trading for years, and really want to take the next step - you really must consider ALL of these factors before diving in. Like any smart investment. Do your due diligence.
Okay, now back to the fun. In more interesting news:
I WAS GHOSTED THIS WEEKEND.
Yes, I know I was just as shocked as you, like I mean come on - have you seen my gifs? I found the whole experience to be pretty inhumane, as it occurred mid conversation (and I'm not talking small talk.) If anything this truly speaks to state of our society - the inverse of "I want what I want and I want it now." Or perhaps just another Millennial trait to add to the dumpster fire. Either way, it is clear that this is yet another ill-begot behavior born and bread of social media platforms. The audacity that overcomes someone with a keyboard has reached astounding levels. Hate, love, ego are all being taken to absolute extremes.
It is for this reason (along with a few other more publicly obvious) that I believe the current titans of the industry $FB $TWTR $SNAP $MTCH will need to produce a vast revamping of what we currently know as social media if we are going to escape an all-out implosion. It will be an interesting process to watch, and seeing as we all have front row seats I'm sure you won't miss a thing.
And since I too will be going to Hell in bucket I decided to pick up some shares of $MTCH this week and enjoy the ride. It was completely destroyed on positive earnings, albeit they did announce a ridiculous dividend, which in this sector is really not what I would be doing with the free cash.
Regardless, the market did not like what it heard. I however welcomed the opportunity to get in the name at lower prices. I have been greatly enjoying my time over in the Avocado Money Room on StockTwits where I have access to some of the greatest secret fundamental resources around - @BadaBingCapital and @EdwardRooster (SHHH don't tell my TA friends.) These guys truly know their stuff, and although they are not long the name, they were able to provide some great insight into the company. I like the long term thesis for $MTCH and believe they have a lot of untapped market left to monetize (by long term I mean 5+ years.) Technically speaking, the name has room lower to go and if it does I will probably add some more there. If I am going to be ghosted, I at least would like to be getting paid for it.
If you follow me on Twitter, hopefully some of today's posts have come full circle for you. I won't be boring you with my adventures in dating anymore (today at least).
See you at the morning bell,
The Delusional Trader