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WILL THE CAMEL GO OFF THE CLIFF INTO THE


‘SPLAT ZONE’? I have always found it bizarre that buy side Asset Managers only care that you know your fundamentals and hold a CFA. Technical analysis is largely either unknown or regarded as some sort of wizardry or cosmic skill - or worse still, just drawing random lines on charts.


I recently asked a Portfolio Manager from a large well-known Asset Manager if he employed any technical analysis to make decisions when investing in stocks. “Oh no, not at all, we only use fundamental analysis”  replied, “of course, we do that to help with the entry!” I then asked “isn’t 


Frustratingly there is so much confusion about what technical analysis is and what it should be used for. I think things are probably not helped  nonsense.


USING TECHNICAL ANALYSIS IN CONJUNCTION WITH FUNDAMENTALS CAN GIVE YOU THE MUCH-NEEDED ALPHA THAT EVERY PORTFOLIO MANAGER SEEKS.


Source: FT - https://ftalphaville.ft.com/2018/04/19/1524110400000/The-Vomiting-Camel-has- escaped-from-Bitcoin-zoo/


Source: STA Market Technician No.85 Chart 2


Recently FT journalist, Katie Martin for a joke tweeted out some charts with crude pictures of a camel vomiting on them. Unbelievably CNBC picked up this as a technical ‘pattern’, called it a VCP (Vomiting Camel Patten) and applied it to a Gold chart. “Will the camel  CNBC anchor. See the ‘charts 1 and 2.


FT Bitcoin ‘VCP’ Chart 1 and CNBC Gold ‘VCP’ Chart 2.


Whilst this didn’t help the cause of technical analysis much, it is still quite amusing and is more of a tale about human behaviour. We recently presented Katie Martin with a toy vomiting camel at the 50th birthday of the Society of Technical Analysts (STA).


Chart 1


34 | ADMISI - The Ghost In The Machine | March/April 2019


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