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The Ord Oracle 9/16/4


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#1 TTHQ Staff

TTHQ Staff

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Posted 16 September 2004 - 08:09 AM

 

September 2 interview with Ike Iossif http://marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
Interview with Leo Leydon - Wednesday September 15,http://financialfocusadvisoryservices.com/radio.html-click archive for Monday.
[font="Verdana;color:red"]"TimerDigest" has "The Ord Oracle" ranked  [/font]#8in performance for six month time frame for the S&P and #4 for 3 months ending9/10/04.

[font="Verdana"]For 30 to 90 days horizon:  [/font]Long SPX (8/10/04) at 1079.04. 

Short term trades, one day to one-week horizon:
Flat.

[font="Verdana"]Wehave "800" phone update that cost $2.00 a min. and billed to a credit card.  [/font]Call (1-970-224-3981) for sign up. We updateEastern time at 9:45; 11:30; 1:30; 3:30 and 4:00. Question? Call me (402) 486-0362.

What to expect now:

[font="Verdana"]TheS&P has support at the 1115 to 1120 area, so there is not much downside from here.  [/font]There is a trend line connecting the highs goingback to the March 5 high and this trend line comes in the current level near the 1135range.  The S&P may build a sidewaystrading range (building Cause) right below this trend line to build strength to"Jump" through the 1135 range with a "Sign of Strength".  The McClellan Summation Index and the Rydex CashFlow indicator gave major buy signals at the May and August low.  This rally is just in the beginning stages.

[font="Verdana"]Wehold LU at 3.45. Today's volume was big to the downside and suggest the support at the3.25 level will be seen before this stock heads higher. We still hold HPC at 13.73.  [/font]The Gap at the 13.30 level appears will hold asthis stock tested this gap today on lighter volume.  Todaywe bought EGHT at 2.62 (Special email report sent out before today's close on EGHT).  Should go back to old high of 8.00 if not higher.  Support comes in near 2.25.  Today decline tested the minor previous low ofSeptember 9 at the 2.53 on lighter volume and implies this higher support should hold.

Nasdaq Composite:

[font="Verdana"]Nasdaq has support at the 1890 (hit that leveltoday) and 1875 level.  [/font]We are looking for abuy signal to develop near the 1875 level.

[font="Verdana"]GOLD Market:[/font]

[font="Verdana"]Wehave revised and updated the XAU chart (courtesy of decis[/font]ionpoint.com).  We have a trend-line drawn near the 62 levelconnecting the lows going back to 1986.  TheXAU broke below this trend line going into the 2000 low, hitting a low near 45. When a market breaks to new lows theprevious lows (the 62 area) should hold as resistance and the market then should worklower.  However, If the previous lows do nothold then the whole thing turns into a bullish "Shake-out".  A bullish "Shake-Out" implies if the XAUcan not hold the previous low it will try and take out the previous high of the samedegree.  The previous high of the same degreeis the old high of 1987 and 1996 near the 160 level and is our bigger upside target fornow.  Next, one can see the "Head andShoulders" bottom where the "Left Shoulder" bottomed in 1998 and the"Head" in 2000 and the "Right Shoulder" in 2002.  For a valid "H&S Bottom" beconfirmed, a "Sign of Strength" needs to develop through the"Neck-line".  This condition wasconfirmed by the rally from the Mach 2003 low into the high in January 2004.  This "H&S" pattern has an upsidetarget near the 145 level.  The high in 2004at the 112 level broke the previous "Swing High" of 1997 at the 111 area and didso on increased volume.  The increased volumebreak in January 04 breaking the 1997 high confirms the up-trend.  We have mark "A" and "B" onthe graph near the 110 level which we think is now another "Left and RightShoulder" of a bigger "Head and Shoulders" pattern.  Notice at the bottom of the graph, The "PriceMomentum Oscillator" has turned up on the weekly chart and suggests the Momentum isnow up.  This bigger "H&S"pattern has an upside target to the 180 level.  Wehave been pointing out that the September and October time frame is usually the bestperformance for gold issues.  We expect thegold issues to pick up steam to the upside shortly.

[font="Verdana"]Wedouble 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.  [/font]CBJis on a monthly buy signal from the May low.  LongNXG average of 2.26. NXG has support at 1.35.  NXGis 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 of5.24.  Long PMU at average 1.12.

[font="Verdana"]TheMcClellan Oscillator closed at -366 on May 10 and in an area where previous intermediateterm lows has occurred.  [/font]Today's close came inat +83 and overbought for the short term.

[font="Verdana"]The“Percent Volume” Indicator closed at .52 and in neutral territory. [/font]

[font="Verdana"]“Fiveday ARMS” indicator closed at 5.46 and in neutral territory. [/font]

[font="Verdana"]Conclusion: Long SPX on 8/10/04at 1079.04.[/font]

Longer Term Trend: Long SPX on 8/19/04 at 1091.23