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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (3434)6/5/2000 11:18:00 PM
From: J.T.  Read Replies (2) of 19219
 
Rydex Total Assets Update for Monday June 5th:

SPX Long - NOVA 634 Million
SPX Short- URSA 315 Million

NDX Long - OTC 3.203 BILLION
NDX Short- Arktos 106 Million

XAU Index - Precious Metals 62 Million
Money Market - 1.140 BILLION

This XAU break-out has caught many by surprise up 10% now in 3 days overshadowed by NDX and to lesser extent SPX break-out. Rydex Precious Metals only recently were at 83 Million on May 10 but because of failed rally they don't believe in the strength of this one as total assets now are only paltry 62 Million. BIG MISTAKE. Gold bullion is finally breaking out and playing catch-up with other commodities like platinum and palladium and gold stocks will go along for the ride. In addition to falling dollar, problems with gold derivatives and rumors of some some major house JP Morgan or Goldman Sachs are caught in a short covering hedge position. GATA (Gold Anti-Trust Action)
Committee has well chronicled this impending debacle and now it is coming home to roost.

Minimum target XAU 68. A 15 minute chart of XAU break-out:

charts-d.quote.com:443/960260279800?User=demo&Pswd=demo&DataType=GIF&Symbol=XAU.X&Interval=15&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10

The SPX and NDX has begun its pullback today and look for this to continue tomorrow.

Best Regards, J.T.
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