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Articles written by Kase and Company fall into two general categories: mostly hedging related and mostly trading related. The individual articles can be found listed in each window below. Please click the title of the article and a window with the full abstract for that article will appear.

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Primary Trading Related
Daytrader’s Doom
Futures, August 1999 - A whipsaw trade is entered too late or too soon. This article looks at four basic principles used to avoid the whipsaw trade. The first is to select the proper bar length. Enter a trade on a tick bar that is sensitive and then scale up to a larger time bar to let profits grow. The second is to be conservative when entering a market. Use second signals in the direction of the trend, or use a higher less sensitive entry time frame. Third, cut your losses with properly set stops. Range is risk, so set your stops accordingly. Last, exit on turn signals. Momentum indicators such as "overbought" and "oversold" can be used effectively to exit trades and preserve profits.
Managing Trade Risk
Trader's Catalog & Resource Guide, July 1999 - An individual investor may have a good idea how much she is willing to lose on trading in the longer term, that does not necessarily translate into how much to risk in a given transaction. This article outlines a simple system of "risk of ruin" which is amply supported by examples with both hard numbers and charts. This system works well for managing risk on individual investments by placing stops effectively. The article makes use of an indicator called the Kase DevStop which is effective at identifying stop points.
The Best Momentum Indicators
Bridge Trader, May/June 1997 - This article outlines the basic indicators and identifies some of their limitations, which prevent them from being more than cursory tools with which to assess the market. The heart of the article describes new indicators that have been developed and how these indicators function. These are: The Kase Serial Dependency Index (SDI) and the Kase Peak Oscillator. With these Kase indicators are as close as is practical to understanding true market behavior as well as capturing highly valuable insight into market behavior.
Technical Differences and Similarities: Energy and Power
Natural Gas Journal, Jan. 1997 - Addresses how similarities between energy and power may allow traders to effectively trade power. Although the similarities are many there are two main differences that are very important. These are lack of liquidity in power and the inability to store power which makes it more susceptible to disruptions.
Building a Trading Framework
Futures, November, 1996 - Market timing should never take place in a vacuum. This article explains how to construct a "forecast grid" that provides a framework that provides a higher degree of accuracy and confidence in trading. The methods for building a trading framework stand on a foundation of math and keeping things simple while following a clearly outlined step by step format.
Statistics in Action
Futures, June 1996 - This last in a series of three articles dealing with Kase indicators explains how to combine the four indicators introduced in the two prior articles and walks readers through a trade utilizing the KaseCD (KCD), PeakOscillator, Permission Screen and the DevStop. Examples are given on how to utilize these indicators and recognize warning signs based on simplified trade rules.
Multi-Dimensional Trading
Futures, May 1996 - This second in a series of three articles on Kase proprietary trading tools, covers a statistically based momentum indicator, the KaseCD, which supersedes the MACD. A review of the highly accurate stop system, DevStops is presented. Also explained is filtering in a higher time frame and three simple rules for using a new statistical screening system, the Kase Permission Screen, to generate "permission-long" and "permission-short" signals.
New High-Probability Indicators
NYMEX Energy in the News, Spring 1996 - These articles introduce to the reader indicators which are not bound by the limitations of the old traditional indicators. These indicators are the Random Walk Index (RWI) which is more accurate, less lagging and causes fewer late whipsaws than a standard moving average crossover system. The second indicator is the PeakOscillator which is normalized for range, as opposed to the local conditions of the Stochastic, and it has a higher degree of reliability relative to momentum divergence. The third indicator is the Kase CD (KCD) which is essentially an upgrade on the traditional MACD. These indicators have all been shown to be highly effective.
Putting the Odds on Your Side
Futures, April 1996 - This first of a series of three articles explains how statistically based indicators can outperform standard trading tools. An introduction to Kase proprietary trading tools, especially the PeakOscillator, a momentum indicator, and stop system, the Dev Stops, as well as a discussion of basic statistics and probability, including a review of the traditional bell curve is presented.
The Kase Dev-Stop: Accounting for Volatility, Variance and Skew
International Federation of Technical Analysts,  Journal 1994 - This technical article discusses the development process, supporting research, findings and dissatisfaction of volatility and stop systems in use that led to the development of the Kase Dev-Stop. The Kase Dev-Stop uses various corrected* standard deviations above the mean to account for variance and allows the user to quantify the odds of being stopped out based on a normal distribution, and it is based on a 2-bar reversal. The article discusses in great detail variance, 5 steps to calculate the Dev-Stop, an explanation of how to use the three levels of stops and trade entry techniques and methods. The Kase Dev-Stop, unlike previous stop designs, accounts for variance, is tri-level to account for different market conditions, is quantifiable in terms of the percent chance of being stopped out (hitting a stop) and accounts for volatility skew. Also, we find that in using the Dev-Stop with Bollinger bands, appears to assist in automatically defining support in sideways formations, and will assist in confirmation of trends resuming. The Dev-Stop is useful in trending and non-trending markets and can be used in any time frame, down to the tick level.
Simplified Momentum Filters Improve Trading
Futures, December 1993 - This article discusses the slow-stochastic, a sensitive momentum indicator. The stochastic indicator determines price ranges for certain periods of time and then calculates the most recent price's correlation to that range. Proper use of the stochastic is designed to eliminate the need to watch multiple charts and to free the user from rigid and sometimes misleading weekly data. The use of the slow stochastic over longer time frames helps the trader to overcome lag that is inherent when using longer time frames, especially considering research has shown us that momentum signals often precede trend-following signals. The article also suggests employing filtering indicators using the stochastic as the filter and following a set of three conditions that are discussed in detail. These three conditions follow the mandate of keeping things simple, as they do not require much technical know-how to implement.
Momentum Divergence
NYMEX Energy in the News, Fall/Winter 1993 - This article studies the momentum indications that occur prior to reversals in the direction of the market. First the article gives an overview of three common momentum indicators and what they measure; these are the Stochastic, Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) histogram. While each indicator has its entry and exit signals and rules the main signal is momentum divergence. The article examines in detail momentum divergence and uses a case history in heating oil as an example.
Redefining Volatility and Position Risk
Technical Analysis of Stocks and Commodities, Oct. 1993 - Volatility is the key to understanding market behavior. This article builds on this with methods in which volatility is used and how these methods may be made to "breathe" with the market. In addition the shortcomings of using volatility to set stops are brought to light in some detail; these are variance and skew. It is an understanding of volatility that leads to the design of the dev-stop, a stop-loss method explained in the article. The dev-stop idea is well supported both mathematically and graphically in the article.
Choosing a Time Bar Length
Technical Analysis of Stocks and Commodities, August 1991 - Most trading days do not divide evenly into conventional time fractions often used in trading, thus leading to an end of day bar that represents only a fraction of the time desired. This article presents several ways of dealing with this issue, with special emphasis on the use of Fibonacci numbers and weighting the end bar that pertains to the end of day. In addition the article presents graphical evidence of the importance of choosing time bar lengths and how these methods can allow earlier trading signals.
Knowing When to Step Back From the Market
Futures, June 1991 - This article spells out a method to help identify when to step back from a market. This method involves risk assessment using volatility as well as the Average Directional Movement Index (ADX) and Directional Movement Index (DMI). The article provides excellent examples supported by historical data as well as charts.
Using Stochastics to Forecast Market Moves
NYMEX Energy in the News, Spring 1991 - This article focuses on the use of the stochastic for estimating market moves. It begin with the basics of what the stochastic is, basically an expression of the position of the close relative to the high-low range of the market. The article then identifies two stochastic formations helpful in estimating market moves, the double bottom retracement and double money breakthrough. In summary the article illustrates how, by watching the direction and strength of price movements, a firm can determine important buy or sell signals which will ensure efficient trading of energy markets.
The Two Faces of Momentum
Stocks Futures & Options October 2003 - This article covers different aspects of momentum indicators. The article starts by giving a brief review of how to identify momentum exits. The article then covers a study that Kase did on the two faces of momentum. In the study, we compared different indicators based on how often a turn was proceeded by a signal and how often a signal was followed by a turn. These two sides of momentum are necessary to properly compare momentum indicators.
Proof That Technical Analysis Really Works: Momentum Indicators
Commodities Now, March 2005 - This article shows the proof that technical momentum indicators really do works. It covers a published study that was performed by Kase on over 300 years of daily data on a range of commodity markets from grains, energy, currencies and indexes. The article shows the hard fast numbers and shows proof that technical indicators can predict market turns and behavior.
Tools for Technical Analysis
Energy Markets, April 2005 - This article examines the different types of tools that technical analyst use on a daily basis to read the markets. This article is an introduction to technical analysis and how the different types of tools such as momentum indicators, candlesticks and geometric patters can help one to become a better trader on a consistent basis.
Setting Stop-Losses Using Price Volatility
The Technical Analyst, July/August 2005 - This article looks at setting stop-loss orders using range, volatility, and volatility skew. The Kase DevStops, which use this type of analysis are discussed at length in this article. There is also an in depth study of volatility and skew that is discussed in the article. This is a must read article for anyone that is using stop loss orders

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