"Timer Digest" has Tim Ord ranked #5 for one year ending 6/3/05 and #1 in Gold for one year ending 1/13/06.
For 30 to 90 days horizon: Long Nasdaq on 6/28 at 2111.84. Long SPX on 6/29 at 1272.87.
Monitoring purposes XAU: Long XAU, 129.56 on 12/29/05.
Longer Term Trend monitoring purposes: Short SPX On 3/21/06 at 1297.23.
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What to expect now:
The SPX chart with its “Bullish Percent index” is displayed below, courtesy of www.decisionpoint.com. The “Bullish Percent Index” on the SPX shows the percentage of “Point &Figure” buy signals for all the stocks in that index. Notice on the graph below that the “Bullish Percent index” has had a bullish crossover and is currently on a buy signal.
The McClellan Oscillator also has made bullish divergence as well as the Summation index. Therefore, our studies suggest an uptrend is current in progress and the rally phase should carry into August if not September. Next week is option expiration week. The Wednesday before Option expiration week (today) I call “Weird Wolly Wednesday” in honor of “Don Wolanchuk” (aka Da_cheif on Traders-Talk.com) who first introduced me to this phenomenal. “WWW” is usually a wild energy day that usually goes in the opposite direction of which the market is trending. After “WWW” the market usually goes quite into a narrow trading range for a couple days. The trend normally resumes during Expiration week. The current rally phase could attempt to test the previous highs near the 1325 range. Long SPX on 6/29 at 1272.87. Bought GNBT at 1.74 on 7/10/06, biotech.
Bought Ivan (Invanhoe Energy) 4/13/06 at 2.55. Energy stock. Could go to Gap area (November 2003) near 5.40. We Bought ASTM at 1.92 on April 3. Biotech group.
To learn more on "Ord-Volume" visit www.ord-oracle.com.
Nasdaq Composite:
Below is displayed the Nasdaq daily chart going back three years with its McClellan Oscillator and Summation index, www.decisionpont.com. The Nasdaq has made “Positive Divergence” on the McClellan Oscillator going into the June low as well as the rally from the June low. Notice on the chart that as the June low was approached, the Oscillator made higher lows and Nasdaq made a lower low. This condition shows fewer stocks were declining as the low approached and a bullish sign. On the rally phase from the June low, the Oscillator hit a higher high and Nasdaq made lower low. This condition shows more stock were carry the rally off the June low then the previous rally in late May and a bullish condition.
Near term the Nasdaq Summation index maybe forming a “Ledge”. A “Ledge” is a Summation index pattern that hesitates briefly before continuing its move. The current sideways pattern on the Summation index appears to be a “ledge” and not the start of a down-move. Therefore, once the ledge is complete, another up-move is expecting. We contribute today’s decline in part by “WWW”. Covered Short position on Nasdaq for 8.4% gain on 6/12 and we are long on 6/28 at 2111.84.
"Timer Digest" has ranked Tim Ord as the #1 gold for one year ending 1/13/06.
Gold Market:
Long BGO (4/19/05) at 2.37. This trade is separate from our long-term position in BGO. We bought PMU (5/27/05) at .50 and bring our average price to .81. Long TRE at 2.55 on 11/1/05, sold at 3.39 on 12/3/05 for 33% gain. Long DROOY at 1.27 on 11/9/05, sold at 1.89 on 1/19/06 for 49% gain. Bought AGT at .33 on 2/1/06, sold at .66 for 100% gain. Long TRE at 6.84 on 3/6/06. Bought GRZ at 6.30 on 5/19/06.
The “Rydex Precious Metals Fund and “Cumulative Net Cash Flow” charts is displayed below, courtesy of www.decisionpoint.com.
“Cumulative Net Cash Flow” on the “Rydex Precious Metals Fund” is still in the bullish area near 175 range and suggest gold stock area still in the “Buy range”. Also the “Rydex Precious Metals Fund” may be forming a “Head and Shoulders bottom pattern” and the current trading is forming the “Right Shoulder”. The daily “PMO” is trending up and implies the momentum is still up. Gold stocks in general should move high into the “Seasonally” strong timeframe into Late September. Its starting to look like the XAU may test the previous highs near the 170 range.
We are watching VGZ (gold Issues) for possible buy on any pullback to support. We bought TGB at 1.84 on 3/27 by intraday email report. We bought TRE on 3/6 at 6.84 by intraday email report. We double our positions in BGO on (7/30/04) at 2.34 and we now have an average price at 2.70. Long NXG average of 2.26. We bought PMU (5/27/05) at .50 and bring our average price to .81.
The McClellan Oscillator closed today at +71 and overbought.
The “Percent Volume” Indicator closed .43 and neutral.
The "5 day ARMS" closed today at 6.65 and short term bullish.
Conclusion: Long Nasdaq on 6/28 at 2111.84. Long SPX on 6/29 at 1272.87
Longer Term Trend monitoring purposes: Short SPX On 3/21/06 at 1297.23.
