"Revelations about After-Hours Trading and Technical Analysis" with Rick Lehman
Most people perceive that after-hours trading in US stocks and indexes is sporadic, light volume activity that is the province of small retail speculators, and therefore relatively unimportant. The truth is that after-hours trading is much more established and important than most people think. Yet, even after 15 years of after-hours trading on the NYSE and NASDAQ, price history for trades executed after-hours are still not publicly disseminated and chart services do not include it. This has significant implications for investors, and particularly market technicians, who rely heavily upon the availability of an accurate and complete picture of price history. Material for this presentation is drawn from Rick’s own research as well as others, and appears in a recent paper submitted to the MTA.
Rick’s financial career spans more than thirty years, beginning with an eleven-year stint on Wall Street with EF Hutton and the New York Stock Exchange, migrating later to California where he worked at CDA/Thomson, Mechanics Bank, and start-up Avenue Technologies. Currently, Rick is a California Registered Investment Advisor and serves as an adjunct finance professor at UC Berkeley Extension and Golden Gate University.
Rick is an avid market technician and a subject expert in behavioral finance and options. He has published two books on Options and a third on the relationship between technical analysis and behavioral finance. In 1984, Rick was named “Top Broker” in the US Trading Championships – Options Division, sponsored by Barron’s Magazine. In addition, he has independently produced the San Francisco Behavioral Finance Symposium for the last three years.
Rick holds a BS in Management Engineering from Rensselaer Polytechnic Institute in Troy New York and an MBA in Finance from the State University of New York at Albany.