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Rob,
I find your Fork charts very insightful - often accurate in
terms of predicting market direction. Please keep up your work and
sharing it with us.
PeteNa
At 09:15 AM 4/3/98 -0500, Rob wrote:
>I really can't belive this message that was posted last night. All I wanted
>to do is try to give a trading idea to the rest of the group. I took my
>valuable time to post these charts so we all could learn some thing. You
>can call the forks whatever you want. I am just getting sick of getting so
>many post that only complain about system vendors and bad data.
>I came onto this group to learn how to be a better trader, not to complain
>about some guy that is posting a tool that may help someone trade. Instead
>of complaining why don't we all start posting things that may help our
>fellow RealTraders to trade.
>
>Well, now I sound like the people I am complaining about. If anyone still
>wants to see The "SATAN'S FORKS" or "ANDREWS FORKS" FOR FREE could you
>please post yes or no to the group. I will stop posting these charts if you
>want me to.
>
>Thanks for your time. We all have better things to do with our lives than
>read lots of messages like this.
>
>Rob
>
>
>At 05:53 PM 4/2/98 -0600, you wrote:
>>>>>
>I always find it amusing when an old original technical study is renamed.
>The posts on 'Satan's Pitchfork' are the latest example. The technique was
>pioneered by Dr. Alan Hall Andrews through the
>'Foundation for Economic Stabilization'. Dr. Andrews made millions in the
>market using this technique. He made his first million in his first three
>years of trading. (That was 70 years ago.....real money)
>Dr. Andrews was a graduate of Harvard and MIT, and he taught his methods in
>his 60 page 'Action-Reaction Course'. He charged up to $5,000.00 for the
>course over 60 years ago! He also published weekly course updates that
>showed new ways of applying the technique. Needless to say, many of the
>applications of the technique are not used today. The 'Pitchfork' or
>'Median Lines' are only a fraction of the course. By the way, his
>newsletter typically showed a paper profit of over 100% per month on margin
>required.
>These studies also relate and tie in with the work of Roger Babson the
>founder of 'Security Research Charts' and the 'Babson Business College'.
>When Mr. Babson used his forecasting techniques to predict the crash of
>1929 he was ostracized by the investment community.
>
>My point is this. When someone makes a major contribution to the field of
>technical analysis, let's at least give them credit. To my knowledge Satan
>did not contribute to Mr. Andrews work. Of course, we could rename all of
>the classic indicators. I have lately started using the Cattani Wave
>Theory, FiboCattani numbers, and Cattani Angles and Fans.......anyway
>friends, that's my view, and now back to work.
>A great evening to all.
>Denis Cattani
>
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petena9090@xxxxxxxxxxxxxx
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