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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (3854)7/19/2000 1:33:38 AM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Tuesday, July 18th:

Dynamic Series:

SPX Long - TITAN 13.5 Million
SPX Short- TEMPEST 16 Million

NDX Long - VELOCITY 55.3 Million
NDX Short- VENTURE 19.5 Million

**************************************

Regular Series:

SPX Long - NOVA 698 Million
SPX Short- URSA 322 Million

NDX Long - OTC 3,424 BILLION
NDX Short- Arktos 92.1 Million

XAU Precious Metals 43 Million
Money Market 1,206 BILLION

*******************************************

Money got spooked today and went to cash 350+ million. Also, money in SPX Short Fund spiked in dynamic series.

**I incorrectly stated in a past rydex update that Dynamic SPX Short Fund TEMPEST has only been higher than long fund twice since inception. I was only looking at July. In fact, since dynamic fund is "newer money", this money tends to move back and forth b/w long short very quickly unlike the regular series. Dynamic Short Fund assets in June were greater than SPX Long TITAN fund assets 50% of the time 11 out of 22 trading days.

Assets in the regular SPX Short URSA Fund tend to be more stable over time until capitulation sets in. Today assets in URSA swelled to its highest level since June 23 close when SPX closed down at critical support SPX 1,441 (1 point above 1,440 support).

MSFT and INTC both beat the earnings estimate by 2 cents and both traded up afterhours although unconvincingly. We will let the market be the judge tomorrow.

A whole slew of earnings came out after the bell yesterday and most beat estimates handily but sold off into the great news. Will tomorrow have the same result?

I will update support and resistance levels tomorrow when I have more time.

Best Regards, J.T.
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