Tim Ord: GDX Breaking Above $31 is the Biggest Bull Signal of the Year
Tom welcomes back veteran investor Tim Ord, and he is the President, Editor, and Publisher of the Ord-Oracle.com. Tim finds similarities in the current market to the 2008 period. The VIX is an excellent leading indicator for the markets right now. He expects a re-test of the March lows, although be believes that 90% of the decline has occurred.
Once the bottom is in, different sectors will shine, particularly gold, gold stocks, and silver. For silver, the RSI is indicating that we should be headed for a new bull cycle.
GDX is breaking above $31 on the weekly chart, which breaks a seven-year trend line, and that is a powerful signal.
Time Stamp References:
0:40 – Similarities to 2008
2:20 – Final lows are not quite in yet.
4:20 – Sectors to watch for gold/silver.
6:00 – VIX and the S&P 500
8:30 – Cycle theories with gold.
11:00 – GDX and 7-year breakthrough
Talking Points From This Episode
• Most of the decline is over, but this isn’t the final low.
• Expectations for silver
• Gold cycles and inflation.
• GDX is breaking out of a seven-year trend.
Tim Ord earned a Bachelor of Science degree as a Mathematics teacher from the University of Nebraska in 1973. He became a Stockbroker in 1977 and worked his way up to Vice President and Senior Option Principal in 1981. Tim has over 25 years of trading experience.
In 1988, using his account, he places fourth nationally in the option division in “The United States Trading Championship.” He has written and published several articles in the “Stock and Commodities Magazine.” His first article appeared back in June 1991, where he introduced a new trading method using the NYSE tick index. The tick index method is now used worldwide by short term traders.
This method was derived from the works of Richard Wyckoff, a gentleman who did an extensive study with price and volume back in the 1930s. Mr. Ord expanded and simplified his studies. He is frequently a guest on financial radio shows from coast to coast. Mr. Ord is president, editor, and publisher of “The Ord Oracle” established in 1990. His newsletter is a Monday through Thursday email report that trades the S&P, Nasdaq, and gold issues. He is frequently listed in the top 10 market timers in the country.