Rydex Total Assets Update for Wednesday, February 7th 2001:
Regular Series:
SPX Long - NOVA 465.3 Million
SPX Short- URSA 232.9 Million
NDX Long - OTC 1,897 BILLION
NDX Short- Arktos 67.8 Million
XAU Precious Metals 49.4 Million
Banking 89.3 Million
Biotechnology 443 Million
Money Market 1,031 BILLION
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Dynamic Series (200% correlation)
SPX Long - TITAN 69.0 Million
SPX Short- TEMPEST 35.6 Million
NDX Long - VELOCITY 154.0 Million
NDX Short- VENTURE 44.6 Million
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The shake and bake action we talked about after our levels were hit from last Sunday am MITA 6474 will continue into the next two days:
NDX closed at NDX 2,593 down 93 down 3.5%. NDX has good support at NDX 2,460 on a closing basis. It is possible to get a one day false reading break and close below this level but that will be it. The next trading day will close above this NDX 2,460 even though it may trade below this level all day long. Target is the lower gap that must get filled from Jan 16 close and Jan 17 open NDX (slightly filled by Jan 26 intraday low)NDX gap 2,470 - 2,526. Once this gap is filled the market is close to a solid buy reading>...
Now the only gap that has to get filled to confirm the filled NDX gap is COMP 2,618 - 2,660 before all systems are go long. COMP closed at COMP 2,661. It will be shake and bake action into Thursday Friday next week with every other day theory in play.
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Not only have we hit all our levels but NDX has now closed below NDX 2,460 1 day yesterday. Today we should close above this level so as not to confirm the false breakdown in the market. Then tomorrow back down one last time... then UP for another solid move higher back up to NDX to this over the next few weeks:
...<Rydex sentiment becomes quite clear if we sell the next 1-2 days hard is to try and identify the bottom and reversal intraday and buy it up long for that run to NDX 2,958 - 2,972 gap that must be filled.
Friday is hopefully the day to buy into weakness...
XAU and gold are close to bottom into today's full moon.
More importantly, lead sled dog pure play all gold index is confirming solid internal strength as JSE closed at the high for the day at JSE 921.60.. its highest close since Jan 21st 926.10. We break JSE 941 we are off to da races in XAU...
I will be looking to add individual gold and technology issues over the next two days.
I have made no decisions on MITA "home" but have the list compiled in case changes are made.
Still 100% Long XAU Precious Metals
Best Regards, J.T. |
