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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (5666)	12/20/2000 1:23:44 AM
From: J.T.	Read Replies (4) of 19219

Rydex Total Assets Update for Tuesday, December 19th: Regular Series: SPX Long - NOVA 431.1 Million SPX Short- URSA 244.0 Million NDX Long - OTC 1,947` BILLION NDX Short- Arktos 87.9 Million XAU Precious Metals 43.6 Million Biotechnology 551 Million Money Market 1,348 BILLION ******************************************* Dynamic Series (200% correlation) SPX Long - TITAN 72.7 Million SPX Short- TEMPEST 17.9 Million NDX Long - VELOCITY 120.8 Million NDX Short- VENTURE 34.2 Million ******************************************* Major Market Indexes Updated as of: Dec 19, 2000 @ 4:59 pm ET Sym. Last Change %Chg High Low INDU 10584.37 -61.05 -0.6 10784.58 10582.85 TRAN 2777.76 +38.34 +1.4 2825.68 2740.61 UTIL 395.11 +1.05 +0.3 397.23 392.95 NDX 2399.63 -143.46 -5.6 2635.22 2397.87 COMP 2511.71 -112.81 -4.3 2696.61 2509.76 NYSE 639.86 -3.37 -0.5 651.90 639.59 SPX 1305.60 -17.14 -1.3 1346.44 1305.20 MID 496.62 -5.54 -1.1 507.93 496.24 OEX 687.44 -7.01 -1.1 709.38 686.48 IXCO 1358.88 -74.91 -5.2 1484.51 1356.97 PSE 823.90 -18.29 -2.2 875.26 823.83 MSH 693.23 -29.93 -4.1 748.63 692.92 SOX 576.92 -5.23 -0.9 628.85 573.74 XAU 50.93 +1.32 +2.7 51.08 49.51 XOI 510.85 +4.60 +0.9 515.87 505.95 Denial. Bulls are in absolute denial to think that 'nothin' is wrong. This is classic Bear Market action at its finest. Up in the morning into early afternoon, sell into strength on the hype of a slim chance for potential rate cut, and sell it hard into the bell to finish at/near session lows. This has happened countless times now in the past 3-4 months. Bull markets do not act this way. It is the mirror opposite of how the market has acted in the last 5 years since 1995. Pure and simple. Air pockets develop so fast on the 'bid in the OTC that they sell out at any price. To think we are at the lows is sheer lunacy. We now have disappointing earnings and shrinking revenue growth along with evaporating profit margins to look forward to come Earnings season in January. Rydex Numbers confirm the problems dead ahead. Call it dissipating slope of hope, complacency, apathy, whatever. Rydex clerarly shows that any and all profits that have been built up over the last few years are getting wiped out as the money is "frozen" overwhelmingly long. Disappearing wealth = disappearing money and this will filter into and permeate into the economy faster than the speed of light. Spending will dry up faster than water evaporating in the desert. What has been keeping up this stock market for so long is consumer spending and confidence sustained by A.G.s growth of credit. Now there is a growing collapse in confidence and the market is well ahead of the curve reading the tea leaves. This collapse in confidence will lead to a collapse in the bloated debt structure. When confidence erodes and then dissolves retrenchment sets in. Deflationary winds have long been at work and now are going to accelerate going into 2001. Whatever happened to goldilocks and the new paradigm economy on the yellow brick road to nirvana-land? Could it be A MYTH? Remain 100% Long XAU Precious Metals. Best Regards, J.T.

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