Rydex Total Assets Update for Thursday, March 1st 2001
Regular Series:
SPX Long - NOVA 337.3 Million**near new 52 week low
SPX Short- URSA 264.2 Million
NDX Long - OTC 1,473 BILLION**near new 52 week low
NDX Short- Arktos 79.6 Million
XAU Precious Metals 54.5 Million
Banking 66.5 Million
Biotechnology 422.1 Million
Money Market 1,422 BILLION**oversold
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Dynamic Series (200% correlation)
SPX Long - TITAN 82.6 Million
SPX Short- TEMPEST 21.4 Million
NDX Long - VELOCITY 128.0 Million
NDX Short- VENTURE 30.3 Million
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Another classic war in the death zone. As brutal as today was, tomorrow will be equally if not more forceful in the clash of the Bulls/Bears.
Today opens gapside down everywhere. Tomorrow will be the same. ORCL warns after the bell and I see SEBL BEAS and a host of others down after hours.
Today all three critical supports hold on the close: SPX 1,230, DOW 10,320, BKX 860. If these levels hold on the close tomorrow the Bulls are home free for the hard counter-trend bounce into mid march and beyond with pullbacks along the way..
SPX closed at SPX 1,241.23 up over 1 point after being down all day with intraday low of SPX 1,214.50.
DOW closed at DOW 10,452.73 down over 45 with an intraday low of DOW 10,302.89.
BKX closed at BKX 878.70 down over 3 with an intraday low of BKX 860.98.
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In tech land...
NDX closed at NDX 1,969 up 60 + 3.1%
COMP closed at COMP 2,183 up 31 + 1.5%
SOX closed at SOX 571 up 29 +5.5%
COMP 2,010 intraday test could come tomorrow. This is the critical support on COMP as this is the December 15 16 1998 close before the accelerated launch... IF COMP 2,010 does not hold it opens the floodgates for a more nasty melt-down to COMP 1,800 levels early next week... from there a v-type reversal... a worst case scenario...
Tomorrow ain't gona be easy. We could have a bifurcated market with tech economy down and old economy hanging on.
If they find a way to rally tech tomorrow and buy on more "bad news" the lows will definitely be in...
I am worn out from today so I will cut it short.
Regular Series: 100% Long NDX OTC
Dynamic Series: 100% Long SPX TITAN
Best Regards, J.T. |
