Sand Spring Advisors LLC
April 17, 2003
by, Barclay T. Leib
One of the joys of Sandspring.com is to occasionally make the acquaintence of a subscriber who really knows how to technically analyze markets. Among the cadre of subscribers that I have met and now know well, one can find a UCLA professor of medicine who loves cycles, a wind-surfing private Swiss investor savvy in particular about dollar trends, several U.S-based hedge fund managers, a specialist in medieval astrology, and a gold miner from Nevada. All have had their moments of brilliance in thinking about the markets, and suggesting ideas to us.
But today, let us share a single chart perspective from one young fellow named Dimitri. Dimitri is a young guy who has previously worked for a prestigious hedge fund manager as a technical strategist, but currently finds himself searching for a new hedge fund venue with which to partner. Dimitri is dedicated to using a variety of technical tools to find compelling risk-reward set-ups where the "weight of the technical evidence" all lines up in one direction. He loves Elliott, Fibonacci, and cycles. In short, he is a man close to my own heart. Whoever eventually seeds Dimitri with some capital to trade (or at least puts him in a position to advise a more fundamental approach) within the hedge fund world will likely do well. In the right environment, he could easily be the next Steve Cohen.
All of that said, Dimitri is also a man of few words. Today he sent me the above chart of Motorola that shows a clear Head & Shoulders formation within a general continuation pattern. With the chart file attachment, there was just a short note: "MOT...on it's way."
Under traditional Edwards & Magee H&S measurement rules, of course, such a Head & Shoulders would suggest that MOT is headed under $5. Our own Fibonacci band rhythm suggests an initial $6.29 target.
Perhaps if we get down into that region, someone with more capital than I will want to meet Dimitri to discuss career opportunities. If so, Sand Spring would be happy to make such an introduction.
Non-subscribers are invited to access our March 23rd article, "Dealing with Irrationality & The New Age of Aquarius: Malkiel Out; Sornette In," together with other past articles, by signing up for a quarterly Sandspring.com subscription below.
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Sand Spring Advisors provides information and analysis from sources and using methods it believes reliable, but cannot accept responsibility for any trading losses that may be incurred as a result of our analysis. The opinions expressed are not intended as specific investment advice, and simply represent our personal views offered here under our right of free speech. Sand Spring Advisors is a NFA registered CTA/CPO, but is not a Registered Investment Advisor. We do not directly trade any client funds. Individuals should consult with their broker and personal financial advisors before engaging in any trading activities, and should always trade at a position size level well within their financial condition. Principals of Sand Spring Advisors may carry positions in securities or futures discussed, but as a matter of policy will always so disclose this if it is the case, and will specifically not trade in any described security or futures for a period 5 business days prior to or subsequent to a commentary being released on a given security or futures.
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