Rydex Total Assets Update for Thursday, March 8th 2001
Regular Series:
SPX Long - NOVA 387.1 Million
SPX Short- URSA 227.2 Million
NDX Long - OTC 1,456 BILLION
NDX Short- Arktos 74.0 Million
XAU Precious Metals 55.0 Million** no significant increase. BULLISH
Banking 48.5 Million**near 4 month low
Biotechnology 391.1 Million
Money Market 1,285 BILLION
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Dynamic Series (200% correlation)
SPX Long - TITAN 91.6 Million
SPX Short- TEMPEST 31.1 Million
NDX Long - VELOCITY 136.3 Million
NDX Short- VENTURE 38.0 Million
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XAU put on one helluva show today. It closed at XAU 56.79 up $3.30 up 6.17%. This is the highest close since July 11th when we closed at XAU 56.92. My how times have changed.
Gold Spot price closed up $3.70 to $265.40. A break thru $269-$272 resistance and we head straight to $288-$290. Overnight Gold is up another $3.00 to $268.40.
Silver closed up 6 cents to $4.48. Both gold and silver finally moving in tandem is BULLISH.
Back to the XAU. Today the XAU blew thru overhead resistance XAU 53 - 55 like a rocket launched into orbit. Even more ironic is that we have not had one close above XAU 54 or XAU 55 since September 11th when we closed at XAU 54.20. So we leapfrogged XAU 54 and XAU 55 close levels to get a close above XAU 56. Little did I know on December 20th how prescient this call would prove to be the backtest MITA 5702:
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...<To:Mike Schiavo who wrote (5699)
From: J.T. Wednesday, Dec 20, 2000 4:32 PM
View Replies (3) | Respond to 5702 of 7146
Mike, why try to catch a falling knife? Knives are not toys.
The Big 6 of 7 "MSFT, INTC, SUNW, DELL, INTC, IBM" are burnt TOAST. Number 7 GE is on deck. Bring the marshmellows for the roast.
XAU up another 4.3% +... to close at XAU 53.13 up 2.20. The highest one day close since September 13th. This area XAU 53-55 zone is a brick wall it will be tough banging thru.
Gona need a jackhammer because it is going to need several assaults to get break thru to the other side.>...
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Well... we finally broke on thru to the other side... the doors.
stockcharts.com[w,a]daclyimy[dd][pb10!b20!b50!b200][vc60][iUc20!La12,26,9!Lf!Lh4,3]
This break-out dictates XAU is going to mount this assault to XAU 60.08... my first elusive target back in June 2,000... on the way to XAU heaven my coveted XAU 68 from MITA 3625:
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To:J.T. who wrote (3602)
From: J.T. Wednesday, Jun 28, 2000 3:20 PM
Respond to of 7147
Rydex. No change. Remain 100% in XAU Precious Metals.
Gold closed up 6.70. XAU now at XAU 59.02. If the dollar gets creamed tomorrow, we could be at XAU 68 intraday within 2 days.
Minimum target XAU 60.08.
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BKX is Bullish as TA holds steady as BKX consolidates gains to close at BKX 910.41 up about 4. BKX must not break below BKX 898 the first support test. BKX critical support BKX 860 if that falls all hell breaks loose. On the upside BKX 920 is the 25 day MA target I discussed in the archives.
SPX 1,233.70 close must hold. Elasticity SPX 1,230 is line of demarcation backtested by BKX 860. If this October 18, 1999 intraday low is taken out we are going to SPX 1160 the December 15 16 1998 close support.
DOW 10,320 seems like a distance away from strong DOW close today at DOW 10,858.25 up 128 up 1.2%.
I remain:
Regular Series: 100% XAU Precious Metals
Dynamic Series: 100% SPX Short TEMPEST
Best Regards, J.T. |
