The Ord Oracle February 04/05
by Tim Ord
February 04/05
Interview
with Ike Iossif on January 20 http://marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
Interview
with Leo Leydon For February 2 , http://financialfocusadvisoryservices.com/radio.html
-click archive.
"Timer
Digest"
has Tim Ord ranked #5
on returns for the S&P in 2004.
"Timer
Digest" has
ranked Tim Ord as the #2
gold timer for 2004.
For
30 to 90 days horizon:
Flat.
For
monitoring purposes:
Long XAU, 87.96 on 4/21/04.
Longer
Term Trend monitoring purposes:
Long SPX on 8/19/04 at 1091.23. Possible target to old high near 1550
level.
Secrets from profiting with Price and Volume. Come learn the trading rules I use that made me #5 in the S&P and #2 in Gold in 2004 (By Timer Digest). April 9 & 10 at the Denver Marriott tech Center. Click on www.ord-oracle.com or Call for sign-up (402) 486-0362.
What
to expect now:
"Courtesy
of www.decisionpoint.com",
we have included a monthly graph of the NYSE. We discussed this graph
in detail in the recent past, we said, "In a nutshell, we said
that we are anticipating a pull back to support near the 6800 level over
the next week or two. The 6800 level equates
to the 1155 range on the S&P 500 and that range should hold as support.
The market should start a bounce from that level as long as volume
is light on the test of that support area."
Trouble is that the NYSE did not quite get down to support. The lowest the NYSE
got was 6985 area and 185 points short of our target. From the 6985 level
the NYSE has started a bounce and this bounce may continue to the previous
high near the 7250 range because the NYSE McClellan Summation index is
now trending up. When the McClellan Summation
is trending up the NYSE usually follows. We don't think the market
will travel beyond the 7250 range however because the NYSE Summation index
made a "Triple Top" going into the January 3 high.
A "Triple Top" on the Summation index implies an intermediate term
top was made on the January high. Therefore, it appears
to us that consolidation phase has started where the January high of 7250
on the NYSE is resistance and at some point the 6800-support area will
be seen. We are seeing
a lot more neutral to bearish sectors than bullish sectors right now and
that tells me that there may be sector rotation going form bearish to
bullish back to bearish again before the market starts another impulse
wave to the upside. We still anticipate the
6800 well be seen and may be the place where an intermediate term bullish
signal gets triggered. However, the 6800 level
(time wise) may take several weeks if
not months before it's seen. If thing change, we will
change with them, but for now we are anticipating a trading range where
6800 is support and 7250 is resistance.
If volume is light on the test of the 7250 area, we may consider
a short at that level with anticipated downside target to 6800 level.
We are staying neutral
on the Market for now.
The
"Oil Service" index appears to be in a bullish mode and we like HOFF at
a little lower price. We'll send a report if
a buy signal is triggered on HOFF.
Sold
1/2 eght at 4.20 (60% gain) and 1/2 at 3.50 for 47% gain (stop at 3.50
was hit). On 12/30, we bought
SQNM at 1.36. Support near 1.20 target
near 4.50.
Nasdaq
Composite:
The
Nasdaq is running into a "Gap" that formed between 1/19 to 1/20 near the
2070 level and volume has shrank going into this gap area and implies
the 2070 range may hold as resistance.
Next support down comes in near the 1975 range. Staying flat this index.
GOLD Market:
"Timer
Digest" has ranked Tim Ord as the #2
gold
timer for 2004.
It
appears the XAU is close to the bottom of a "Down-Sloping Wedge" pattern.
We have had cycles for a low due in late January to Early February
and we are in this time zone now. On Friday, if the XAU
can close above 92.59, a buy signal on the weekly time frame will be triggered.
We remain bullish on gold issues. The next rally phase may take the XAU
to 150 to 180 area.
We
double our positions in BGO on (7/30/04) at 2.34 and we now have an average
price at 2.70. Long CBJ for an average of price of 2.89. Long NXG average
of 2.26. We doubled our position in GSS on
(7/30/04) at 4.04 and we have an average price of 5.24. Gss is
not acting well for the moment. No change for now. Long
PMU at average 1.12.
The
McClellan Oscillator closed today's at +119 and in overbought.
The
“Percent Volume” Indicator closed at .62 and near the bearish level.
Secrets
from profiting with Price and Volume. Come
learn the trading rules I
use that made me #5 in the S&P and #2 in Gold in 2004 (By Timer Digest).
April 9 & 10 at the Denver Marriott tech Center.
Click on www.ord-oracle.com
or Call
for sign-up (402) 486-0362.
Tim Ord
ord-oracle.com
17300 Van Dom Street
Walton, Nebraska 68461
402 486 0362