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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (38160)4/3/1998 10:47:00 AM
From: Patrick Slevin  Read Replies (1) of 58727
 
Ever hear of Andrew's Pitchfork?

Some one had been sending me intraday .gifs on it, so I set it up on an S&P futures screen. Perhaps it's just been reliable for the past few days and this is a co-incidence. I never had call to use it before, but it has been very reliable on 5 minute tick charts for the past few days....since I started to plot it.

I suppose it's a good short-term timing tool, as I've noticed whenever the market strays too far from the tine on the fork it reverses and heads back. In essence, providing entries and exits, short and long.

I was tempted, even while on painkillers (which is why I did nothing) to get long around 1129.00 on the SP8M, noting the extreme the market had traveled from the tine which was then at 1132.40

It then bounced to 1136.30, which was now at the other extreme, the tine being at 1133.70

And then the market came back and is now "on" the tine.

I don't know if I'll ever use it, just thought I'd put it out as an observation.
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