The Ord Oracle March 24/05
by Tim Ord
March 24/05
*Interview
with Ike Iossif on March 17 http://www.marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
"Timer
Digest"
has Tim Ord ranked #5
on returns for the S&P and #2
in Gold for 2004.
For
30 to 90 days horizon:
Short SPX on 3/16/05 at 1188.07.
For
monitoring purposes:
Long XAU, 87.96 on 4/21/04.
Longer
Term Trend monitoring purposes:
Sold long SPX (3/16/05) at 1188.07 (gain of 8.87%) making us flat. Long
SPX on 8/19/04 at 1091.23. Top may form in March 2005.
Secrets from profiting with Price and Volume. 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:
On the graph above the
S&P broke through support near the 1185 range with valid bounce and
implies a valid break to the downside. The previous 1185 support
range should now act as resistance on any rally attempt.
The NYSE McClellan Oscillator has approached the -300 range and
very oversold for the short term. Readings over -230 usually
produce a bounce in the market. Therefore, we are expect
a bounce to begin at any time. The S&P should find
resistance near the 1185 to has high as 1200 (gap
area) before turning back down. Volume has been picking
up to the downside and is a bearish sign for the intermediate term. Our first area of support
comes in near the January lows at the 1165 range. We are holding our (30
to 90 day horizons S&P short position) (short S&P on 3/16 at 1188.07).
On 3/1/05, we bought
IVAN at 2.60, We sold this position at 3.08 for 18% gain. Since this sector may
have trouble near term, we will hold off on new purchases until OIH is
close to support near the 88 range. We are putting on ENG on our watch
list, support near 2.05.
To learn more on "Ord-Volume" please visit http://www.ord-oracle.com/.
Nasdaq Composite:
The Nasdaq may bounce near term also. Resistance lies near
the 2025 to 2035 ranges. This
area could produce a setup for a sell signal level.
The Nasdaq McClellan Oscillator is also oversold but not as much
as the NYSE McClellan Oscillator. Flat for now.
GOLD Market:
"Timer
Digest" has ranked Tim Ord as the #2
gold
timer for 2004.
(BGO and CBJ graphs courtesy of www.decisionpoint.com). On the Gold Mining Index,
we concluded that this index is completing the "Right Shoulder" of a "Head
and Shoulder Bottom" and the "Right Shoulder" is being completed now.
We have included
graphs of BGO and CBJ. Notice
when the RSI is near 30 or below both on BGO and CBJ that important lows
are being made. If you like far right
on each of the RSI graphs, you will notice that both stocks are at the
30 level now and imply that both stocks are near a significant low. .PMU
has support near .65. NXG is filling the gap
that formed between 2/24 and 25 and at support near the 1.45 range.
Gold appears to have completed a "Three Gap Play" to the
downside and the third gap (Exhaustion gap) appeared today. The first
gap appeared from 3/11 to 14, second gap from 3/18 to 3/21 and the third
gap (Exhaustion Gap) formed today. After the third gap appears
the market reverses and heads back up to at least the first gap. The
first gap appeared on Gold at the 445 range.
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 2.75 (added to CBJ on 2/4/05 to bring average price to 2.75). Long NXG average of 2.26. Long PMU at average 1.12.
The
McClellan Oscillator closed today's at -284 and oversold for short term.
The “Percent Volume” Indicator closed .40 & near the buy area of .36.
The
"5 day ARMS" close today at 4.03 and bearish.
Conclusion:
Short SPX on 3/16/05 at 1188.07.00..
Longer
Term Trend: Sold Long SPX 3/16/05 at 1188.07 for gain of 8.87% and now
flat. Long SPX on 8/19/04
at 1091.23.
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