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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (5550)12/12/2000 2:02:26 AM
From: J.T.  Read Replies (2) of 19219
 
Rydex Total Assets Update for Monday, December 11th:

Regular Series:

SPX Long - NOVA     513.5  Million
SPX Short- URSA     223.6  Million*** new low

NDX Long - OTC      2,454  BILLION
NDX Short- Arktos   71.0   Million*** new low

XAU Precious Metals 46.9   Million 
Biotechnology       638    Million
Money Market        775    Million*** new low

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

Dynamic Series (200% correlation)

SPX Long - TITAN    110.3  Million
SPX Short- TEMPEST  18.2   Million 

NDX Long - VELOCITY 200.9  Million*** new high
NDX Short- VENTURE  18.6   Million

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

What a bi-polar market. In 3 short trading days, money market assets have been shaved in half from a market running scared at 1.555 billion in assets to today's reading 775 million as the bull runs rampant in the china shop.

To understand the magnitude of this extreme bearish negative move, even as the market was in its final mania bull stage, from the time the DOW hit a new high in January to the time the nasdaq reached the tower of babel in march above COMP 5,000, NEVER HAS MONEY MARKET LEVELS REACHED THESE DRAMATIC LOW LEVELS. Not even close. They fought it on the way up not be invested hand over fist. And now they are fighting it on the way down getting fully invested in hopes of catching the next rally that has been the grinch who stole dreams in the year 2,000. And now beyond...

It has been a bludgeoning affair to say the least.

So to play point counter-point you look to see if this is an aberration and back-test it against long/short funds. And as you can see, SHORT FUNDS IN BOTH Regular SERIES have hit NEW LOWS. Combine this with Double your pain Dynamic Series NDX Long TITAN has hit a new high.

This is as an EXTREME a WARNING as you will ever get sentiment-wise .

If I was a Bull right now I would be sh!ttin in my pants as these levels are the exact opposite October 98 levels when the market took off.

I would sell any rally into strength if you can book profits as companies continue to warn of earnings shortfalls daily... welcome to the club AMD...

There is nothing more to say.

I have locked in gains in NDX and SPX Long positions.

Now 50% Short SPX URSA Fund and 50% Long XAU Precious Metals Fund.

Best Regards, J.T.
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