The Ord Oracle November 15/04
by Tim Ord
November 15/04
Interview
with Ike Iossif on October 28 http://marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
Interview with Leo Leydon For November 17 http://financialfocusadvisoryservices.com/radio.html
-click archive.
"Timer
Digest"
has Tim Ord ranked #4 on returns for the S&P for one year, #3 for
6 month and #2 for 3 months ending 11/12/04. "Timer Digest"
also ranked Tim Ord #1 for GOLD for one year time frame.
For 30 to 90 days horizon:
Long SPX (10/25/04) at 1094.46.
Long Nasdaq (10/21/04)
at 1953.62.
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
What to expect now:
On November 12, 2004, the S&P exceeded the previous high set on January
2002 high on increased volume and imply a valid break to the upside.
When a market breaks to a new high on higher volume, it
confirms the uptrend. Therefore, the intermediate term picture
is bullish. High volume flows
in the direction of the true trend and right now the high volume is coming
in on the current rally. Support
now lies in the 1160 and should hold on any pull back. Today's rally hit a new short tem high
on high volume, which is a bullish development, but was unable to hold
that high on the close, which is a short term negative. Near term the market is extended, but
I would not be concerned on potential pull back because before the year
is out the markets will be much higher. The
best stocks to be in are the lower priced S&P stocks that are selling
below $10 because the S&P 400 (Mid cap) and S&P 600 (Small cap)
are stronger then the S&P 500 (large cap).
We are watching ISON for a purchase at a lower level. We are staying long the SPX that was bought
on 10/25/04 at 1094.23.
To learn more on "Ord-Volume" please visit http://www.ord-oracle.com/.
Long (9/22/04) NEXM at 1.33. Long (11/12/04) EVOL at
3.60. Long LU at 3.45and
sold 11/11/04 at 3.83 for 11% gain. We hold HPC at 13.73. We hold HPC
at 13.73. We bought EGHT at 2.62. Next rally should go to at least 6.00
to possibly 8.00. Long INGP on 10/7 at 5.22.
INGP broke out, upside resistance is the 6.00 range.
Nasdaq Composite:
The Nasdaq is still eating through the highs going back to the January
04 high. Support comes in near 2060 and should
hold on any pull back. Volume
was very good today and the high volume could be in part related to Option
Expiration week, which is this week.
Volume has been picking up for the last several days and implies
money is coming back into the market.
There appears to be a rotation of one sector being strong
for several days and then rotating into another sector and this is the
type of action may continue for a while.
We noticed that the "Internet Stocks" where more or less breaking
even with other sectors having a good day.
We expect the "Internet Sector" is pick up soon. The trend is up
and is expected to go much higher in the weeks to come. We
are long the Nasdaq from 10/21 close at 1953.62.
GOLD Market:
"Timer Digest" has ranked Tim Ord as the top gold timer for the last 12
months ending 11/12/04.
It
is becoming apparent that a strong gold rally is underway. We are expecting this rally to at least
continue to March 2005 and possibly longer. Gold has closed over all the
previous highs going back to 1990 on the continuation contract in Gold. The next upside target on Gold is now
$500.
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. CBJ is on a monthly buy signal from the
May low. Long NXG average
of 2.26. NXG is on a buy signal on the monthly chart that was triggered
in May. We doubled our position in GSS on (7/30/04) at 4.04 and we have an average
price of 5.24. GSS could
be creating a Right Shoulder of a Head and Shoulders bottom where the
Left Shoulder is the 5/10 low at the 3.85 level and the Head is at the
July and early August low at 3.66 range. Long PMU at average 1.12.
The McClellan Oscillator
closed today's at +106 and overbought.
The “Percent Volume” Indicator closed at .61 and overbought.
“Five day ARMS” indicator closed at 4.99 and neutral territory.
Conclusion: Long SPX at 1094.8 on 10/25/04.
Long Nasdaq 1953.62 on 10/21/04.
Longer Term Trend: Long SPX on 8/19/04 at 1091.23.
Tim Ord
ord-oracle.com
17300 Van Dom Street
Walton, Nebraska 68461
402 486 0362