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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Cactus Jack who wrote (3606)	7/31/2002 4:24:14 PM
From: Mannie	Read Replies (2) \| Respond to of 89467

It's a wild world out there these days, jp. Hard to know who and what to believe. Things are great with me, I am quite busy with work. And we had a really fine law firm pick up our Vietnam work as a pro bono project. We are getting ourselves up and running as a 501(3)(c) nonprofit organization. We have a lot of momentum that we need to keep going in the right direction. we have already identified our next project in Vietnam, and are currently laying the groundwork. Many fine people are showing up to help us along the way...it is quite interesting. I'll keep you informed. Scott

To: Cactus Jack who wrote (3606)	8/1/2002 1:18:58 AM
From: stockman_scott	Respond to of 89467

Ord Oracle: What to expect now. A bullish candlestick pattern called a "Gapping two White Candles" formed on July 29 and 30th. This pattern is a continuation pattern and predicts higher prices. What normally happens with this pattern is that the market will pull back and fill the gap that formed this bullish pattern and then head higher. To fill this gap, the S&P would need to pull back near 855. A "Selling Climax" did form on July 24 and an up-trend has begun that may last several weeks. The Summation index on the NYSE is now trending up and implies the trend is now up. We will look to go long near the gap at the 855 area on the S&P. Our upside target will be near the 935 level. The 935 level is near where the 1998 and 2001 lows are and should provide stiff resistance. The 935 level may be where the next intermediate term sell signal gets generated. But first things first, we will watch the 855 area for the next potential buy signal. A source to get put/call ratios and VIX readings on many index’s including the QQQ is an excellent site called hamzeianalytics.com. The NDX also drew the bullish candlestick pattern called "Gapping Two White Candles". The same prediction implies in that the NDX should pull back and fill the gap that created this pattern and the gap should act as support. To fill this gap the NDX would need to pull back near the 920 level. The "Summation Index" on the Nasdaq has turned up also and implies the trend is now up. We will watch the 920 area on the NDX for signs of a short-term bottom. Our upside target will be near the 1060 level, which is the 1998 and 2001 lows and should provide stiff resistance. We covered 1/2 of our QQQ short position today at 23.60 and 1/2 at 23.65 for an average gain of 1.6%. We are now flat. The 22.80 on the QQQ is where the gap is left open and may be the next area for a reversal back up. We could get a buy signal near the 23 level on the QQQ. The monthly charts imply Gold is in a powerful "wave 3" up in Elliott Wave terms. Short term the XAU surprised us by going lower then expected. The HUI Gold index hit it's 200 DMA (which is trending up) and bounced off, which is a bullish sign. With the 200 DMA moving up in most gold stocks, this implies the gold stocks are still in an up trend. We think that we are ending Wave (2) of a massive Wave 3 up that started at the November 2001 low. The 200 DMA should provide good support on most gold stocks. HL has its 200 DMA near 2.30. We are long from 1.04. BGO has 200 DMA near .75. We are long at 1.03. ECO is below its 200 DMA, which is at .79. We are long at .92. ASA has its 200 DMA at 26.25. Drooy has its 200 DMA at 2.80. We are long Drooy from 1.06. We remain bullish on gold stocks. Tim has traded the OEX index options since their inception in the early 1980's. In 1988 he entered The United States Trading Championship competition in the option division using his own account and placed fourth nationally. A contributing editor of Technical Analysis of Stocks and Commodities Magazine in which he presented a new technical trading tool using the N.Y.S.E. tick index called "uptick" and "downticks" He was one of the speakers on technical analysis at the Dow Jones Telerate Seminars in Las Vegas in 1995. His market opinions are featured regularly on Reuters America along with weekly on WCIU TV in Chicago and biweekly on TFNN radio, (radio station in Florida). At the helm of a trading advisory called The Ord Oracle, Tim Ord makes specific S&P index and NDX index recommendations (along with intermediately QQQ or OEX option trades) via hotline updates and email & fax service. "Timer Digest" had ranked The Ord Oracle #3 in performance for 1999. ord-oracle.com