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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (6419)2/2/2001 2:51:00 AM
From: J.T.  Read Replies (2) of 19219
 
Rydex Total Assets Update for Thursday, February 1st 2001:

Regular Series:

SPX Long - NOVA     497.6  Million
SPX Short- URSA     224.8  Million

NDX Long - OTC      2,117  BILLION
NDX Short- Arktos   58.9   Million         

XAU Precious Metals 51.5   Million 
Banking             84.6   Million 
Biotechnology       441    Million
Money Market        816    Million

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

SPX Long - TITAN   179.3    Million**new all time high
SPX Short- TEMPEST  26.0    Million 

NDX Long - VELOCITY 182.2   Million
NDX Short- VENTURE  48.2    Million**3.5 month high

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

1) XAU Precious Metals up a third day in a row another 89 cents up 1.8% to close at the high for the day XAU 49.75. This was helped in part by copper components PD and significant strength in FCX of late. FCX has had one helluva run since the beginning of the year. FCX extremely overbought and ready for a breather so other components like NEM and ABX will have to take the XAU baton to the next level that gap 51,55 - 51.99 which will get filled possibly tomorrow. That hanging island we talked about a few days back has materialized into a 'drooping flag formation'- quite Bullish - mentioned to me by da cheif and the daily chart is a beaut:

charts-d.quote.com:443/981098796390?User=demo&Pswd=demo&DataType=GIF&Symbol=INDEX:XAU.X&Interval=D&Ht=400&Wd=600&Display=0&Study=RSI&Param1=5&Param2=&Param3=&FontSize=10&BgColor=0.255.0&TBgColor=0.255.0

This is confirmed by recent strength in in gold bullion the last few days as it closed today up $3.10 an ounce to finish at $268.30 - 20 cents under critical resistance levels. We get thru $268.50 tomorrow there is a gap that has to get filled from early January that should take us to $272 and change - no small feat. If we get thru $275 we head straight to $288 - $290 before consolidating.

Johannesburg all Gold Index JSE completed an outside day higher close on Jan 31 (a higher high and lower low intraday from the previous day) to close at JSE 918.60. Today JSE registered an inside day lower close and finished near session lows to close at JSE 911.50. Outside days followed by an inside day represents a very explosive situation in this index over the near-term. JSE 940.60 close on Jan 23rd is very significant as once this is taken out we are heading to new levels not seen since last September first trading day in October././

Minimum target is XAU filling that gap into XAU 52 witha projected target at XAU 56.50 - 56.90.

In a nutshell, all the ducks are lined up in a row for GOLD...

Now its AFLAC... AFLAC...

Position: 100% Long XAU Precious Metals

Best Regards, J.T.
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