MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: J.T. who wrote (6778)	2/27/2001 11:05:14 AM
From: J.T.	Read Replies (4) of 19219

Rydex Total Assets Update for Monday, February 26th 2001 (late): Regular Series: SPX Long - NOVA 404.6 Million SPX Short- URSA 230.3 Million NDX Long - OTC 1,603 BILLION NDX Short- Arktos 70.6 Million XAU Precious Metals 39.2 Million Banking 83.4 Million Biotechnology 425.3 Million Money Market 1,138 BILLION ***************************************** Dynamic Series (200% correlation) SPX Long - TITAN 146.4 Million SPX Short- TEMPEST 26.6 Million NDX Long - VELOCITY 188.8 Million NDX Short- VENTURE 22.6 Million ******************************************* Rydex clean data verified thru trading this morning. I again talked to epperson- I told him rydex accounting getting it wrong on the late night report. He said he is going to talk to accounting personally and see where the error is. I will follow up with him after the close. Rydex data is more valuable the night before not after the market opens the next day. We then become armchair quarterbacks rather running with the lead sled dogs. Yesterday we locked in substantial gains in Rydex XAU. XAU closed up 6.57% to close at XAU 53.53. This morning XAU gaps open to the upside at XAU 54.25 up roughly 75 cents and now the gap is filled and XAU is down 47 cents at XAU 53.06. Rydex XAU Precious Metals TA still extremely BULLISH as TA should be above 50 million at these levels and we are still right under 40 million. Today if XAU is down you might see bargain hunters jump into XAU afraid to miss the next leg up. BKX closed at BKX 894.81 up 25 points and near session highs. Right now we are at prior support now resistance BKX 898 after intraday low of BKX 890 and i-high 905. Look for BKX to take out BKX 898-902 today. SPX Long TITAN is very bothersome as this number spiked from yesterday close. They reported 68 million TA last night and when I called trading this morning this number stood out like a sore thumb 146 million TA. A note on rate cuts and Wayne Angell's call for rate 80% chance of rate cuts this week: Angell has a lousy track record and this call reduces the surprise element and effectiveness A.G. has in reducing rates and a positive impact it would have on the market. A.G. is between a rock and hard place balancing between surprise of when to cut, trying to play catch-up as he is way behind the curve and not giving the impression of panic in the market by cutting aggressively. iMHO, it is best A.G. does nothing this week and wait until next week if he is going to move pre-FOMC meeting on March 20. Money Market levels moving too low too fast. I will most likely book profits at todays close if we finish strong today. If we finish week, I will remain long into tomorrow. Regular Series: Long 100% NDX OTC Dynamic Series: Long 100% SPX TITAN Best Regards, J.T.

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