Posted 03 February 2005 - 10:54 AM
*Interviewwith Ike Iossif on January 20 http://marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
**Interviewwith Leo Leydon For February 2 , http://financialfocusadvisoryservices.com/radio.html-click archive.
"TimerDigest"has Tim Ord ranked #5on returns for the S&P in 2004.
"TimerDigest" hasranked Tim Ord as the #2gold timer for 2004.
For30 to 90 days horizon:Flat.
Formonitoring purposes:Long XAU, 87.96 on 4/21/04.
LongerTerm Trend monitoring purposes:Long SPX on 8/19/04 at 1091.23. Possible target to old high near 1550 level.
Secretsfrom profiting with Price and Volume. Comelearn the trading rules I use that made me #5 in the S&P and #2 in Gold in 2004 (ByTimer Digest). April 9 & 10 at the DenverMarriott tech Center. Clickon www.ord-oracle.com or Call forsign-up (402) 486-0362.
What to expect now:
"Courtesyof www.decisionpoint.com",we have included a monthly graph of the NYSE. Wediscussed this graph in detail in the recent past, we said, "In a nutshell, we said that we areanticipating a pull back to support near the 6800 level over the next week or two. The 6800 level equates to the 1155 range on theS&P 500 and that range should hold as support. Themarket should start a bounce from that level as long as volume is light on the test ofthat support area." Trouble is that theNYSE did not quite get down to support. Thelowest the NYSE got was 6985 area and 185 points short of our target. From the 6985 level the NYSE has started abounce and this bounce may continue to the previous high near the 7250 range because theNYSE McClellan Summation index is now trending up. Whenthe McClellan Summation is trending up the NYSE usually follows. We don't think the market will travel beyond the7250 range however because the NYSE Summation index made a "Triple Top" goinginto the January 3 high. A "TripleTop" on the Summation index implies an intermediate term top was made on the Januaryhigh. Therefore, it appears to us thatconsolidation phase has started where the January high of 7250 on the NYSE is resistanceand at some point the 6800-support area will be seen. We are seeing a lot more neutral to bearish sectors than bullishsectors right now and that tells me that there may be sector rotation going form bearishto bullish back to bearish again before the market starts another impulse wave to theupside. We still anticipate the 6800 well beseen and may be the place where an intermediate term bullish signal gets triggered. However, the 6800 level (time wise) may take several weeks if not months before it's seen. If thing change, we will change with them, but fornow we are anticipating a trading range where 6800 is support and 7250 is resistance. If volume is light on the test of the 7250 area,we may consider a short at that level with anticipated downside target to 6800 level. Weare staying neutral on the Market for now.
The"Oil Service" index appears to be in a bullish mode and we like HOFF at a littlelower price. We'll send a report if a buysignal is triggered on HOFF.
Tolearn more on "Ord-Volume" please visit www.ord-oracle.com.
Sold1/2 eght at 4.20 (60% gain) and 1/2 at 3.50 for 47% gain (stop at 3.50 was hit). On 12/30, we bought SQNM at 1.36. Support near 1.20 target near 4.50.
Nasdaq Composite:
TheNasdaq is running into a "Gap" that formed between 1/19 to 1/20 near the 2070level and volume has shrank going into this gap area and implies the 2070 range may holdas resistance. Next support down comesin near the 1975 range. Staying flat thisindex.
GOLD Market:
"Timer Digest" hasranked Tim Ord as the #2 gold timer for 2004.
Itappears the XAU is close to the bottom of a "Down-Sloping Wedge" pattern. We have had cycles for a low due in late Januaryto Early February and we are in this time zone now. OnFriday, if the XAU can close above 92.59, a buy signal on the weekly time frame will betriggered. We remain bullish on gold issues. The next rally phase may take the XAU to 150to 180 area.
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. Long NXG average of 2.26. We doubled ourposition in GSS on (7/30/04) at 4.04 and wehave an average price of 5.24. Gss is not acting well for the moment. No change for now. Long PMU at average 1.12.
The McClellan Oscillator closed today's at +119 and in overbought.
The “PercentVolume” Indicator closed at .62 and near the bearish level.
The "5 dayARMS" close today at 4.84 and neutral.
Conclusion: Supportnear 1155 on S&P and resistance 1220.
Longer Term Trend: Long SPX on 8/19/04 at 1091.23. Upside target to old 2000 highs near the 1550 level.
Secretsfrom profiting with Price and Volume. Comelearn the trading rules I use that made me #5in 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.comor Callfor sign-up (402) 486-0362.
