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The Ord Oracle 10/6/4


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#1 TTHQ Staff

TTHQ Staff

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Posted 06 October 2004 - 06:15 PM

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Interview with Ike Iossif on September 30 http://marketviews.t...sts/Ord/pg1.htm

**Interview with Leo Leydon For October 4 http://financialfocu....com/radio.html click archive for Wednesday.
"Timer Digest" has Tim Ord ranked #3 in performance for 6 month for the S&P and #6 for 3 months ending 10/1/04.

For 30 to 90 days horizon: Long SPX (8/10/04) at 1079.04.

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

What to expect now:

The trend is up and we expect the S&P to move much higher in the months to come. On the bigger time frames, the S&P could move back to the old highs that were recorded back in 2000 near the 1550 level, that's a run of about 38% from current levels. We have included a graph on the last page of "Ord-Volume" to demonstrate an important point.   The reason we are bullish on the bigger time frames is that "Ord-volume" is higher on the rally phase from the March 03 low then the previous major decline going in to the major lows of 2002.  If the rally phase from the March 03 low was a bounce in a declining market, the "Ord-Volume" should have been less than the major decline going into the July 02 low.  As you can see from the graph, "Ord-Volume" had a slight increase and shows that the current leg up is stronger than the previous leg down and implies the bigger time frame rally is bullish.  Diminishing volume on rallies compared to previous down-leg is bearish.  Equal or higher volume on rallies compared to previous down-legs is bullish and the current rally from the March 03 low has increased volume and is bullish.  Support comes in near 1130 which is very little downside from here. We are long the S&P 500 intermediate term at 1079.04 and long the S&P 500 for long term at 1091.23.  To learn more on "Ord-Volume" please visit  www.ord-oracle.com.

We sent out a special email report (9/22/04) notifying that we bought NEXM at 1.33.  We are long the SPX on 8/10 at 1079.04 and we are holding that position. We hold LU at 3.45. We hold HPC at 13.73.  We bought EGHT at 2.62.  Should go back to old high of 8.00 if not higher.

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Nasdaq Composite:

On Monday's commentary, we said, "Friday's "Sign of Strength" on the Nasdaq suggest this market is becoming more bullish.  Support now lies near the gap area that formed between 9/30 to 10/1 at the 1900 level and at the previous high at the 1920.  Since the Nasdaq has had such a strong run recently, a minor consolidation could start at any time.  We will watch the support areas near the 1900 to 1920 levels for a potential short-term buy signals.  The trend is up for the Nasdaq."  Today's rally had good volume and proves that there may not be a pull back from the current level.  No new trade for the moment.
GOLD Market:

Trend is up on the XAU.  Next resistance area is 106 and support comes in near the 98 level.  Volume in general is picking up on the XAU and that is bullish.  It appears the correction phase of the XAU ended at the May 10 low at 77 and the impulse wave up started from that level.  We are starting to get longer term projection to 180 area on the current impulse wave.

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 has support at 1.35.  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.  Long PMU at average 1.12.

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The McClellan Oscillator closed at -366 on May 10 and in an area where previous intermediate term lows has occurred. Today's close came in at +61 and neutral.

The “Percent Volume” Indicator closed at .65 and in bearish territory.

"Five day ARMS” indicator closed at 4.26 and in bearish territory.

Conclusion: Long SPX on 8/10/04 at 1079.04.

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

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