*Interview with Ike Iossif on July 21
"Timer Digest" has Tim Ord ranked #5for one year ending 6/3/05 and #2 in Gold for 2004.
For 30 to 90 days horizon: Short SPX (S&P cash) 8/5/05 at 1226.42. Short Nasdaq 7/29/05 at 2184.83.
Short term Trade: Flat
For monitoring purposes XAU: Long XAU, 87.96 on 4/21/04.
Longer Term Trend monitoring purposes: Flat.
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What to expect now.
The NYSE McClellan Summation index is trending down and implies the trend has turneddown. The Bollinger Bands have contracted and are now starting to spread apart on today'sdecline and suggest volatility will be increasing. On today's decline the S&Pdid break the previous low, but not on increased volume and may suggest the break isinvalid for the short term. Therefore, there could be a bounce for short term. However, the intermediate term trend remains down. Our intermediate termdownside target is the April low near the 1140 range. We are short the S&P at 1226.42.
Check out our article in the July Issue of Stock and Commodities magazine, page 76 Orclick here:
NASDAQ Market:
Last Thursday we displayed a daily graph of the Nasdaq with "Price relative toSPX" indicator. It is said when the Nasdaq is leading the way higher than thatis bullish for the market. When the Nasdaq is leading the way down than that isbearish for the market. "Price relative to SPX" measures this ratio. Last Thursday the "Price Relative to SPX" ratio says that the Nasdaq isweaker than the S&P and has broken the trend line and has generated a sell signal bythis method on the Nasdaq. The Nasdaq McClellan Summation index is also trendingdown and suggests the trend is down. On the graph below, we have drawn a trend lineup from the April low and the Nasdaq appears to be breaking this trend line now. Volume was not huge to confirm the break but never the less the market did close belowthis support zone. Upside resistance is 8/10 high near the 2186 range. Ourdownside target for the intermediate term is April low near the 1890 range. We are shortthe Nasdaq at 2184.83.
GOLD Market:
"Timer Digest" has ranked Tim Ord as the #2 goldtimer for 2004.
Short term trade, Long BGO (4/19/05) at 2.37. This trade is separate from ourlong-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 average price to .81.
Below we have displayed the long term price chart of the XAU with "Price relativeto Gold" indicator (courtesy of www.decisionpoint.com). The bull run on thebigger time frames is still in the early stages. We have labeled what we believe isthe correct Elliott wave count. The current wave count is a little different thanwhat we had previously, though it would not made a difference. The top of wave (1)impulse wave ended in December 04 and the 1 1/2 year corrective wave (2) ended at the May2005 low. We know wave (2) ended at the May 2005 low because "Price Relativeto Gold" went below .20 which is what happens been a larger degree wave up is aboutto begin. The next worthwhile high may come in near 125 on the XAU. The 125range "Jumps" above the Previous high of December 04 at the 110 range and willconfirm the uptrend. Normally after a market does a "Jump" above aprevious high, it will pull back to that high before heading higher. Thereforeafter 125 is seen on the XAU, a pull back to 110 (previous December 2004 high) range willbe likely. The 125 range could appear between December 05 to January 06. Thepull back to 110 support could take to March to May 2006. After that, we expect theXAU to become very strong and rally to 180 range. The current rally in the XAUshould be the strongest rally that we have seen thus far. EGO appears to be thestrongest gold stock in our holdings with BGO the second strongest. We willevaluate our positions at the 125 range on the XAU.
We double our positions in BGO on (7/30/04) at 2.34 and we now have an average price at2.70. Long CBJ for an average of price of 2.75. Long NXG average of 2.26. We bought PMU(5/27/05) at .50 and bring our average price to .81.
For examples in how "Ord-Volume" works, visit
