SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: J.T. who wrote (6626)2/22/2001 1:18:20 PM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Tuesday, February 20th 2001 (REVISED):

Regular Series:

SPX Long - NOVA     358.8  Million
SPX Short- URSA     238.3  Million

NDX Long - OTC      1,604  BILLION**new 52 week low
NDX Short- Arktos   78.1   Million         

XAU Precious Metals 26.9   Million 
Banking             78.6   Million 
Biotechnology       399.8  Million
Money Market        1,411  BILLION**oversold levels

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

SPX Long - TITAN    57.5   Million
SPX Short- TEMPEST  18.2   Million 

NDX Long - VELOCITY 130.2  Million
NDX Short- VENTURE  34.0   Million

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

All the ingredients are there for today as near/at bottom in this vicious cycle with tomorrow as the +/- 1 day carryover.

1) BKX closed right into my designated BKX 898-902 support zone. Nobody calls BKX better than MITA. If all goes well tomorrow we possibly get the last flush-out one day false close break below this level, but my bet is no way 2 closes below this support zone back to back. Today BKX closed at BKX 897.99 down 34 down 3.64% (BKX 898) so I do not count today as day 1 of false break. BKX 5 day RSI at double oversold 21.66 so bottom is nigh and the bounce is imminent. The assault to BKX 1,000+ is on deck. BKX 1,000+ is a slam dunk in March. This also coincides with the DOW having its greatest chance to hit new highs to this DOW 11,900+ level. March is the critical pivot month for DOW if new highs are going to materialize. I believe token new highs are on deck.

2) Money Market Levels above 1.4 Billion and this is oversold territory where longs throw in the towel. Ideally, 1.6 Billion or higher is capitulation city. If we sell it hard tomorrow, then stocks are ripe for the plucking if whites in eyes materialize.

3) New 52 week low in NDX OTC. Doesn't get anymore contrare than that... Watch QCOM will lead the NDX charge northward from here and CSCO will breath new life as my prognostication stands CSCO is most viable candidate to get added to DOW 30 after HON gets taken off via GE acquisition.

4)SPX long both funds show confirming capitulation in Total Assets. Bravo. Maybe one more day selling we might get lucky and invert short over long TA for a day. But that is it.

5)XAU TA continues its capitulation. This is great news coming into the new moon on the 23rd. Now we got 6 upside gaps to fill after a down day today.

Has Recession hit the cover of any major magazines yet? If/when it does, it will be the last confirmation we are at a near term bottom.

I remain Long 100% XAU Precious Metals since early January. Tomorrow I have made arrangements to open a new separate account in the double your pleasure Dynamic Series where it is a straight long or short 2X play in the SPX or NDX

Best Regards, J.T.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News