V.9:9 (354-360): Steve Shobin Of Merrill Lynch by Thom Hartle

V.9:9 (354-360): Steve Shobin Of Merrill Lynch by Thom Hartle
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Steve Shobin Of Merrill Lynch by Thom Hartle

I'd first like to start off with some information about your background and how you first became interested in technical analysis.

I graduated from the University of Pittsburgh in 1966 as an English literature major; became a cab driver and a social worker and thought that there had to be a better way of making a living. So I joined Merrill Lynch in 1967. I had always had an avocational interest in the stock market but never thought of using technical analysis. Then a gentleman named Mr. Berer from Pittsburgh introduced me to Chart Craft's three-point reversal technique, and I have been a technical person since.

Did you move from straight point and figure to a number of different techniques?

You were almost forced to as a member of Bob Farrell's department. You really have to learn a vast spectrum of techniques; granted, there weren't as many back in 1967-68 as there are now, but to be a complete technician, you had to learn more than just point and figure. So once we were on the job we were introduced to indicators, bar charting and other techniques as well.

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