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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (5994)1/10/2001 11:43:33 PM
From: J.T.  Read Replies (6) of 19219
 
Rydex Total Assets Update for Wednesday, January 10th 2001:

Regular Series:

SPX Long - NOVA     431.2  Million
SPX Short- URSA     204.5  Million**new 52 week low**

NDX Long - OTC      1,900` BILLION
NDX Short- Arktos   64.8   Million**new 52 week low**

XAU Precious Metals 25.5   Million 
Banking             153.6  Million 
Biotechnology       435    Million
Money Market        940    Million

*********************************************
Dynamic Series (200% correlation)


SPX Long - TITAN    151.1  Million**new all time high
SPX Short- TEMPEST  23.0   Million 

NDX Long - VELOCITY 186.6  Million
NDX Short- VENTURE  22.6   Million

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

What a hook set for big fish kahuna. Yesterday we were banging on new lows in the short funds and with todays strong close it comes as no surprise to those who follow daily rydex update that new 52 week lows were set de facto.

I noted how Bearish this was in Tuesdays update and yet I was still positioned 50% Bullish since these numbers come out after the fact.

Now YHOO disappoints big time and new paradigm argument falls on its face again...

It was a slam dunk to turn back Bearish into the rising tide of ebullience going into the bell. This is not rocket science, just contrary reading of the numbers. An art, not a science.

1) SPX Short URSA books another new 52 week low. Total assets here should be at a minumum 300 million plus. BEARISH.

2) NDX Short Arktos another new 52 week low. Total assets should be above 125 million absolute minimum... Ditto - BEARISH.

3) SPX Long TITAN double your pain books new all time high and this confirms the theory that just as they fought it on the way up in 1998 and 1999.... now they are fighting it on the way down. Lower highs and lower lows and the dashing slippery slope of hope that finds no traction. BEARISH

4) XAU Precious Metals Total assets within 3 million of a new 52 week low. Nobody believes after been beaten into the ground for 20 years. Higher lows in XAU followed by lower lows in total assets. Now that we got that full moon behind us, I believe we are going to break thru XAU 55 between now and Jan 24th into the new moon for an 11%+ move. XAU closed at XAU 49.16. BULLISH

Bottom line: Don't listen to people's lip service saying they are Bearish. The money in Rydex suggests otherwise they are voting heavily Bullish in rydex and they are afraid to come out of the closet and tell you otherwise.

Position: 50% XAU Precious Metals, 25% Short SPX URSA, and 25% Short NDX Arktos

Best Regards, J.T.
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