Rydex Total Assets Update for Tuesday, October 10th:
Regular Series:
SPX Long - NOVA 390 Million
SPX Short- URSA 316 Million
NDX Long - OTC 2,548 BILLION
NDX Short- Arktos 137.1 Million
XAU Precious Metals 26.6 Million
Biotechnology 593 Million
Money Market 1,462 Million
************************************************
Dynamic Series:
SPX Long - TITAN 83.1 Million
SPX Short- TEMPEST 9.7 Million
NDX Long - VELOCITY 64.4 Million
NDX Short- VENTURE 65.5 Million
*************************************************
1)SPX NOVA is "old money" in rydex and therefore a more reliable indicator of a near term bottom. Today we closed below magic 400 million to 390 million. Since I have been keeping daily logs, we have not breached below 400 mill in assets. This happened only twice in oct 98 debacle the low 371.7 mill total assets on oct 8th '98 when spx bottomed and closed at SPX 959.44. And since we have future visiblity earnings from YHOO and MOT in question we should gap down outta da blocks tomorrow... 370 million or lower total assets is capitulation city and bounce is imminent within 1-2 days- but from lower lows??. This bounce will be nothing more than a dead cat bounce...
2)NDX Long OTC closing in on magic 2,400 Billion total assets. Once we close below NDX 3,000, total assets will break below 2.4 bill... another watershed... NDX closed at NDX 3,188... NDX 3,580 support was lost by the Bulls and we have not looked back... We will test and potentially penetrate thru NDX 3,000 intraday bounce back to NDX 3,320 within the next week or so and then assault NDX 2,750 intraday by end of October.
3)XAU below 30 million total assets for a record 6th day in a row... And on the 7th day.... LIFTOFF...
4)Dynamic Series SPX Long has gamblers anonymous meeting tomorrow after the close. 9.7 million in SPX Short funds??? 83 million still long? What kinda pipe they smokin'? 200% double your losses??HELLLOOO......
Watch this number capitulate on tomorrow nights close. This short index alone suggests we may finish near session lows tomorrow and is in contradiction to regular series..... More pain here.
5)Dynamic Series NDX has second back to back inversion and for me this validates that 2,40 billion in ndx otc regular series will indeed break on tomorrow close...
Long 100% in XAU Precious Metals.
Best Regards, J.T. |
