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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (5309)11/28/2000 3:02:56 AM
From: J.T.  Read Replies (2) of 19219
 
Rydex Total Assets Update for Monday, November 27th:

Regular Series:

SPX Long - NOVA     453.4  Million
SPX Short- URSA     254.1  Million

NDX Long - OTC      2,219  BILLION
NDX Short- Arktos   97.9   Million

XAU Precious Metals 32.9   Million 
Biotechnology       600    Million
Money Market        1.233  BILLION

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

Dynamic Series (200% correlation)

SPX Long - TITAN    92.9   Million
SPX Short- TEMPEST  7.8    Million 

NDX Long - VELOCITY 109.6  Million
NDX Short- VENTURE  29.6   Million

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

1)This is not what I wanted to see. The money wants to get long witness the quick shift to both SPX long funds. I am not so much concerned with NOVA yet as we have elasticity here. It is the dramatic move back long in TITAN the hot money that concerns me. Right back banging on 100 mill in total assets again.

To make matters more complicated, SPX short funds are lifeless and not in play. This is not healthy over the medium and long term.

Can we still rally? Absolutely. But the upside is limited to this SPX 1,400- 1,415 level 1 close or intraday penetration and I would sell into the rally. SPX closed at SPX 1,349.

2)NDX Long Funds tell a more fragmented story. NDX Long OTC still below 2.4 Bill in assets suggests we can achieve NDX 3,180 - 3,250 level. But NDX Long TITAN back above 100 + mill suggests chances that upside targets beyond this level are limited at best. Witness today how the money gets long as the NDX gives back some of Fridays 6%+ gains. And both short fund total assets in NDX decreased as the NDX closed lower. This is a Bearish divergence signal. NDX closed at NDX 2,769.

3)XAU showing life again after being down 1 day on friday. XAU close to its highest close since October 12th - Up 5.2% to close at XAU 46.85. Tomorrow is a critical day for the XAU that it validates todays break-out is not a one day false break. With the dollar breaking down today - chances are good it can get follow thru.

Still long 50% NDX and SPX.

Best Regards, J.T.
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