February 2007

Trading Tip: Modified Schiff Pitchfork

I think I use the modified Schiff about 90% more than the regular one. Here are some links to explain the Schiff and Modified Schiff forms of the Andrew's Pitchfork:

Regular Schiff: http://www.trading-naked.com/andrews_schiff.htm
Modified Schiff: http://www.trading-naked.com/alan_andrews_course_1.htm#ar18
The original from Andrew's is probably not an easy read.

For Modified Schiff Lines, the handle of the fork, rather than being drawn from the mid point the line from A-B, as the Regular Schiff Lines, is drawn from the midpoint of a vertical line draw from the A to B price levels. The modified Schiff lines are most often used in congestion or if the regular Andrew's fork is "too steep". I have found the Mod. Schiff seems to fit price much better than the regular Schiff.

Schiff was apparently one of Andrew's students. He was a floor trader on the NYSE and came up with these versions of the Andrew's Median Lines. I think it was in the early 80's.

This is a modified Schiff Median Line picture. I drew in the vertical to show the Modified Schiff handle location. MP is the mid-point of the vertical segment there. I did not draw the vertical white line all the way to the A point, as it would cover up the price bar. The purple line marks the full length of that vertical.

In Ensign Windows, select the Andrew's Pitchfork draw tool and locate the tool's 3 construction points at A, B and C. On the tool's property form, check the Modified Schiff check box to have the pitchfork handle change to the MP location as shown on the chart example.

Hardware Tip: Daylight Saving Time 2007

Am I affected? How do I tell?

The change in DST impacts many products that rely on automatic date and time settings. Some of the products affected include:

Home electronics, such as VCRs, DVRs, clocks, telephones, PDAs
Computer software calendar and scheduling applications (Outlook, Exchange, or third party calendars)
1. If you use your personal computer to manage a calendar, your meetings may be off by one hour during the extended DST weeks.
2. If you live in the U.S. or Canada, you will need to adjust the devices on your computer.
3. If you live outside the U.S. or Canada, but are planning to travel, you will want to take the changes in Daylight Saving Time into consideration.

A complete list of affected Microsoft software can be found here.

How do I update my computer?

Identify what version of Microsoft Windows you are running on your computer:

Click Start, point to Settings, and then click Control Panel.
In Control Panel, double-click System.
Click the General tab. The name of the current version of your Windows software is displayed on this tab.

Once you’ve determined which version you are running, follow the instructions below:

For Windows Vista: If you have Windows Vista and have Office 2007 system, no action is necessary to update your system. If you have an earlier version of Microsoft Office installed, you should following the directions outlined in Updating Microsoft Office Outlook below.
For Windows XP Service Pack 2: If you have Windows XP Service Pack 2 (SP2), Microsoft can install the necessary updates on to your computer through Automatic Updates to your PC in mid-February. It is important for you to turn on Automatic Updates on to get all of the proper updates. To find out more about using Automatic Updates, please click here. You can also go to the Windows Update site to install the DST update.
For Windows XP Gold or XP SP1: If you have Windows XP Gold or Windows XP SP1, you will need to update to Windows XP SP2 to apply the DST patch. To update your computer, you can visit the Windows XP web site to learn more, or go to the Microsoft Update web site to install Service pack 2 for Windows XP.

You will need to manually modify the system time on your computer before the new Daylight Saving Time rules take effect if you choose not to update to Windows XP SP2, or if you are running one of the following older operating systems: Windows Millennium Edition, Windows 98 or Windows 95. To do this:

Click the Start button and then click Control Panel
Double-click Date/Time in Control Panel
In the Date/Time window, click the Time Zone tab
If checked, click to clear the “Automatically adjust clock for daylight saving changes” checkbox
Click the Date/Time tab and manually adjust the system time to the correct day and time. To finish, click OK

These steps will need to be repeated twice a year, prior to the second Sunday in March and on the first Sunday in November.

Updating Microsoft Office Outlook

If you do not use the Outlook calendar then no further action is needed.

Microsoft recommends prior to installing any automatic or manual DST updates that you print out your calendar. You may also save your Outlook Calendar as a web page (by selecting “Save as a Web Page…” from the File menu) for the extended DST period (the three weeks between the new and old DST change in March and one week in November). Once you have installed the updates, be sure to double check all appointments that you have scheduled during the extended DST period to ensure they are all correct. If an appointment you have scheduled is incorrect, you may move it manually to update it.

Outlook 2007: If you use the calendar in Outlook 2007, no action is necessary because the updates were already applied when you initially installed the product.

Outlook 2000, Outlook 2002, Outlook 2003: If you use the calendar or set reminders in Outlook 2000, Outlook 2002 or Outlook 2003, you can use the Time Zone Data Update Tool for Microsoft Office Outlook to help you transition any existing appointment during these weeks. The tool should be used after applying the Windows update.

Outlook connected to Web-based Calendars: If you use Outlook connected to a Web-based calendaring application (such as Hotmail, Gmail or Yahoo Mail), then you should run the Outlook tool. However, your calendar provider may also need to make an update on their system for your appointments to display correctly in both Outlook and your web-calendar.

For example, if you use a Hotmail Premium account that is connected to Outlook, Hotmail will be updating their systems, but you should also install the Outlook Time Zone Update Tool as well.

Outlook on a Windows Mobile phone: If you have a Pocket PC or Smartphone that uses Outlook, an update will be available to you from the Microsoft Windows Mobile team on February 12, 2007. This update will be provided at no charge. More information is available on the Windows Mobile web site.

If you do not update your device, then your phone system clock will be off by 1 hour for 3 weeks in March and for 1 week in November in the U.S. and Canada.

For more detailed information regarding Windows Mobile daylight saving time updates, please click here.

What if I don’t update my system?

If you choose not to take any action, and you live in the U.S. or Canada, your system clock and calendar will no longer automatically adjust for Daylight Saving Time at the proper time each year. This means that you will adjust 3 weeks late in the spring and 1 week early in the fall.

Where can I go for additional help?

For additional assistance:

If you do not find all your answers on the Preparing for daylight saving time changes in 2007 web site, you can contact Customer Service and Support.

This information represents the current view of Microsoft Corporation on the issues discussed as of the date of publication and is subject to change without notice. Because Microsoft must respond to changing market conditions, it should not be interpreted to be a commitment on the part of Microsoft, and Microsoft cannot guarantee the accuracy of any information presented after the date of publication.

This information is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS, IMPLIED OR STATUTORY, AS TO THE INFORMATION contained herein.