Rydex Total Assets Update for Tuesday, November 14th:
Regular Series:
SPX Long - NOVA 508.7 Million
SPX Short- URSA 253.0 Million
NDX Long - OTC 2,513 BILLION
NDX Short- Arktos 84.5 Million
XAU Precious Metals 32.2 Million
Biotechnology 634 Million
Money Market 1.218 BILLION
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Dynamic Series (200% correlation)
SPX Long - TITAN 95.8 Million
SPX Short- TEMPEST 25.7 Million
NDX Long - VELOCITY 133.5 Million
NDX Short- VENTURE 25.3 Million
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1)SPX Long NOVA is well within parameters of the market moving higher for this pre-turkey rally based off of today's melt-up and first up day in the last 6 trading sessions. We closed today at SPX 1,383 and our minimum target is at least 1 close above SPX 1,440. We will look at potentially higher rolling objectives once we see the rally unfold.
2)I am uncomfortable the Dynamic SPX Long TITAN total assets moved right back above 90 million however the read on this is new "hot" money that is not afraid to switch on a dime. Old total asset highs 122.5 million on November 7th are in the cards to get eclipsed.
3)NDX Long OTC see op cit #1 - very healthy for the rally.
NDX closed at NDX 3,040 and looking for a rally to 1 close above NDX 3,580. I would move to cash into the close of market day once this area is assaulted.
4)Same with Money Market op cit #1.
5)XAU Precious Metals quite peculiar a 9 million jump and the first close above 30 million in what over a month? Something worth watching.
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Market has found resiliency and a bottom and reached 4 standard deviations below the 200 day Moving Average.
Last but not least - as in life- always go with your first instinct or projection. Type in NDX 2750 on full text scan and you will see I have made numerous mention MITA thread 8 separate posts the lows of NDX would be this NDX 2,750. We hit an intraday low of NDX 2,742 yesterday on November 13th.
Here is that infamous cut and paste post first mentioned on October 6th in MITA 4,813:
...<To: marginmike who wrote (4812)
From: J.T. Friday, Oct 6, 2000 3:25 PM ET
Reply #4813 of 5264
marginmike, I think NDX 2,750 area right above support the breakout level end of OCT 99 is not out of the question ...
Back late tonight>....
and October 11th albeit better late than never in MITA post 4,883:
...< 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>....
and MITA 4,926 on October 12th:
...<After our intraday low bounce yesterday of NDX 3,047 I stated in the archives that we would get this dead cat bounce to NDX 3,350 intraday and then head back down to NDX 2,750 area intraday before the basebuilding can begin going into November and 1st half of December>...
As it turned out Mid November turned out to be the low. Now you know why we will assault NDX 3,580. For the professor- bi bi. <g>
Best Regards, J.T. |
