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 (5465)	12/7/2000 2:40:59 AM
From: J.T.	Read Replies (3) of 19219

Rydex Total Assets Update for Wednesday, December 6th: Regular Series: SPX Long - NOVA 428.1 Million SPX Short- URSA 265.3 Million NDX Long - OTC 2,212 BILLION NDX Short- Arktos 107.2 Million XAU Precious Metals 48.4 Million Biotechnology 538 Million Money Market 1.555 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 86.3 Million SPX Short- TEMPEST 10.6 Million NDX Long - VELOCITY 130.4 Million NDX Short- VENTURE 25.4 Million ***************************************** Wada joke of a market. You are getting daily negative pre-announcements today it is BA, AAPL, CC, DJ to name a few and the 'confession period' hasn't even started yet. One day gains evaporate like water in the desert and if you don't book profits when given the chance, you get asset shrinkeage faster than a con man stealing your money. Now you see it, now you don't. I HAVE JOINED THE 'DARK SIDE' BEARS TEAM until further notice for future considerations... You can still be a Bull even when you turn Bearish - just turn the charts upside down - now look at that break-out... 1)SPX Short TEMPEST total assets are cut in half in spite of the SPX going down and shaving in half the largest one day gain in the SPX for the year. What kind of weed are they smokin'? This should be going up - not down on days like today. Comforting for the BEARS. 2)XAU one day pullback is over and the door is slammed shut to get on board the rocket. Ahh Sh!t. Last nights plan didn't go to smooth thinking we'd get follow thru on the SPX with one more down day in the XAU. I shuda listened to to rocker David Lee Roth. XAU Total Assets have doubled in a week??? Now I gotta be nimble and enter thru the back door on a pullback I'm prayin' for. 3)All short funds total assets still too low. 4)In the Bulls defense, money Market TA back up to 1.555 Billion but thats about it. ********************************** BKX action today clearly sent a warning shot across the bow for this market over the immediate term. BA warns and BKX intraday highs BKX 874.35 swoon to intraday lows BKX 814.27 before bouncing back to close at BKX 827.06 down 20 points. It closed above critical support BKX 823 double close. BKX runs right into our targeted 860-88 level and quickly explodes in orbit. BKX 780 is death row support line well above BKX 815. Not too far off given today's action. I will say this, if BKX 780 is taken out on 1 close- SPX 1,300 is gona get taken out on a close once and for all and we will be into a new lower trading channel where previous supports become new resistance levels. Now lets look at BKX cousin - UTIL. Take a look at the churning trading range of UTIL 380-400 level since the second week of september: charts-d.quote.com:443/976173938820?User=demo&Pswd=demo&DataType=GIF&Symbol=INDEX:UTIL&Interval=D&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10&BgColor=0.255.0&TBgColor=0.255.0 Today the UTIL closed at UTIL 383.72 down only 2 points but hit an intraday low of 378.10 enter the slithering snake. After hitting closing highs at the 400-401 level on 4 separate ocassions, this dog ain't got no bite and is about to rollover and die. We have quietly booked 4 closes (5 if you want to get technical) below the 50 day MA of UTIL 389.65. On deck for the snake is the 100 day MA UTIL 374.48. The last time we closed here was on October 26th when the UTIL closed at 374. Two closes below UTIL 374 and I believe the DOW has the capability to assault and take out DOW 10,000. The 60 minute chart sounds the warning alrm to be on high alert: charts-d.quote.com:443/976174986690?User=demo&Pswd=demo&DataType=GIF&Symbol=INDEX:UTIL&Interval=60&Ht=400&Wd=600&Display=0&Study=&Param1=&Param2=&Param3=&FontSize=10&BgColor=0.255.0&TBgColor=0.255.0 Keep watch for UTIL 374 and BKX 780... Good equity trading day today - except for that whimpering dawg INTC... 100% Short SPX URSA Fund. Best Regards, J.T.

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