Posted 22 July 2005 - 09:36 AM
*Interviewwith Ike Iossif on July 8 http://www.marketviews.tv/freeservices/archives1/Guests/Ord/pg1.htm
"TimerDigest" has Tim Ordranked #5 for oneyear ending 6/3/05 and #2 in Goldfor 2004.
For 30 to 90 days horizon: Flat.
Short term Trade: Long Nasdaq At 2138 on 7/13/05. Sold on 7/14/05 for gain of .70%.
For monitoring purposes XAU: Long XAU, 87.96 on4/21/04.
Longer Term Trendmonitoring purposes: Flat.
We have "800" phone updatethat cost $2.00 a min. and billed to a credit card. Call(1-970-224-3981) for sign up. We update Eastern time at 9:45; 11:30; 1:30; 3:30 and 4:00.Question? Call me (402) 486-0362.
Whatto expect now.
OnTuesday report, we said, "On July 14 the S&P ran into the previous high set onMarch 7 and than closed below that high triggering a warning sign that this market may betopping. However, volume was higher on July14 than the previous high set on March 7. Marketdo not make tops on high volume, the high volume top is always tested on lighter volumebefore a bearish signal is triggered. Therefore,since July 14 had higher volume than the previous high of March 7, we are expecting the July 14 high to be tested onlighter volume and than close below the July 14 high before a bearish signal setup iscreated." Yesterday the July 14 high wastested as expected but volume again was higher and suggest yesterday's high will be testedagain. Today's rally did not touchyesterday's high and therefore nothing was proven. Itappears a top is not far off but no signal has been triggered yet.
Check out our article in the July Issue of Stock and Commoditiesmagazine, page 76 Or click here http://www.ord-oracle.com/pdffiles/Stock%20and%20commodities%20July%202006.pdfIt's a good explanation how I look at the market.
NASDAQMarket:
Wehad an upside target to the 2190 level, which is the January 3, 2005 high. The volume on January 3rd came in at2.16 billion shares. Today the Nasdaq touchedthat level, hitting a high today of 2193.19. Howevertoday's volume was 2.05 billions shares, only 5% less. For a bearish signal to be triggered, a test of a previous high should be on volumethat is at least 8% less than the previous high. Today'stest came on reduced volume of 5% and not enough shrinkage for a bearish signal to betriggered. There may more tests of theJanuary 3 high before a bearish signal is triggered. The "Price Relative to SPX" is still in an up-trend and has not generateda bearish signal yet. However, this indicatorusually lags. The Nasdaq McClellan Summationindex is still trending up and no bearish signal triggered here. For the moment, we have to say the trend is stillup.
GOLD Market:
"TimerDigest" has ranked Tim Ord as the #2 gold timer for 2004.
Shortterm trade, Long BGO (4/19/05) at 2.37. Thistrade is separate from our long-term position in BGO. We bought EGO (gold Issue)at 2.23 (5/26/05). We bought PMU (5/27/05) at .50 and bring our averageprice to .81.
The XAU foundsupport at the 90 gap level that was created between June 15 and 16 and has started torally. On the XAU graph below (courtesy www.decisionpoint.com)the "Price relative to Gold" is displayed. "Price Relative to Gold" broke above the downtrend line connecting thehighs going back to the November high. Thiscondition triggered a bullish intermediate term signal. The recent pull back did not negate this bullish signal. It still appears the XAUis building "Cause" for the breakout above the 94 level. The next resistance is the 104 range, which is theMarch high. September through December is thestrongest part of Seasonality for Gold and will most likely be the strongest time for goldIssues.
We double ourpositions in BGO on (7/30/04) at 2.34 and we now have an average price at 2.70. Long CBJfor an average of price of 2.75. Long NXG average of 2.26. We bought PMU (5/27/05) at .50and bring our average price to .81.
Forexamples in how "Ord-Volume" works, visit www.ord-oracle.com.
