Rydex Total Assets Update for Thursday, March 15th
Regular Series:
SPX Long - NOVA 274.4 Million**new 52 week low
SPX Short- URSA 245.6 Million
NDX Long - OTC 1,210 BILLION**new 52 week low
NDX Short- Arktos 81.2 Million
XAU Precious Metals 34.9 Million**new 2 1/2 week low
Banking 37.0 Million**near 5 month low
Biotechnology 330.7 Million**new 52 week low
Money Market 1,581 BILLION**oversold
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Dynamic Series (200% correlation)
SPX Long - TITAN 74.6 Million
SPX Short- TEMPEST 36.3 Million
NDX Long - VELOCITY 105.9 Million
NDX Short- VENTURE 48.6 Million
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Compare the highest ratio in put/call readings in the last 5 years booked on on October 11, 2000 to yesterday March 14, 2001; and today March 15th 2001. What is most important in this observation is the last 7 half hour p/c ratio levels strengthened into the bell and held firm today. On October 15th on the record high readings these numbers faded into the bell. And the fact that today's end of day p/c ratio closed higher than yesterday or last October 11th bodes extremely BULLISH action for tomorrow. Rydex Total Assets above confirm extreme Bearishness and these contrary readings should serve the BULLS well tomorrow.
Equity/ Index/ Total Put Call Ratio Half Hourly CBOE Exchange Report
10/11/2000 03/14/2001 03/15/2001
Time
9:00 AM 1.42 1.16 0.81
9:30 AM 1.09 1.11 0.89
10:00 AM 1.13 1.07 0.91
10:30 AM 1.09 1.02 0.81
11:00 AM 1.11 1.00 0.87
11:30 AM 1.05 0.99 0.89
12:00 PM 1.02 0.99 0.91
12:30 PM 0.99 0.99 0.91
1:00 PM 0.96 0.97 0.96
1:30 PM 0.95 0.95 0.95
2:00 PM 0.95 0.92 0.96
2:30 PM 0.93 0.89 0.95
3:00 PM 0.91 0.90 0.96
In October, the market moved from SPX triple support close of SPX 1,436 on October 5th and broke hard. On October 11th, the day these CBOE ratios were booked, the SPX closed at SPX 1364. We bottomed the next day October 12 close SPX 1,329. The next day October 13 we bounced hard to close at SPX 1374. We climbed as high as SPX 1,432 close on November 6th the day before election. Then back down.
In this latest go round, we registered a triple support at SPX 1239-1241 level with 1233 the buffer from October 99 intraday lows.. Today we closed at SPX 1,173.56. Based on similar situation, I think we can shoot for SPX 1,208 resistance area intraday high possibly tomorrow or monday and ultimately SPX 1228 level over the coming week upside maximum and then potentially turn back down before we attempt to repair damage...fwiw
Best Regards, J.T. |
