MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (3516)	6/14/2000 1:05:00 PM
From: LaVerne E. Olney	Read Replies (1) of 19219

J.T. We are just shy of critical 3 to 1 Long to Short in Rydex SPX assets. This is wider disparity than 6/7 close when we were 721/275 Million long/short assets. SPX then promptly went down 3 days in a row. Not a comforting thought. NDX Long OTC level have not been this high since the April 12th debacle when NDX and Comp broke 4,000 to downside. If we get follow thru day tomorrow the switch will be more ferocious LONG. I am not even going to mention the money that switched over in the NEW Dynamic Funds today from Long to Short. It is astonishing to say the least. Poor new Dynamic SPX Short Tempest and NDX Short Venture Funds. These funds are 200% INVERSELY CORRELATED SO IT IS DOUBLE TROUBLE FOR THESE LOSERS on wrong side of fence. One more up day tomorrow and there will be little money left in these short funds. <g> Not sure why you aren't seeing this more as a contrary indicator? Although not trading daily funds, I've been closing long postions this week, based primarily on these negative contrary indicators as well as market and individual issue stochastics. decisionpoint.com leo

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