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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (8080)7/10/2001 2:27:00 AM
From: J.T.  Read Replies (3) of 19219
 
Rydex Total Assets Update for Monday, July 9th 2001: 

Regular Series:

SPX Long - NOVA     287.5  Million**BULLISH  
SPX Short- URSA     224.4  Million
NDX Long - OTC      1135   BILLION 
NDX Short- Arktos   65.9   Million 
     
XAU Precious Metals 25.8   Million**BULLISH near 52 week low   
Banking             46.7   Million**BULLISH
Biotech             372.9  Million   
Money Market        1,428  BILLION**BULLISH oversold

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

Dynamic Series (200% correlation to Index)

SPX Long - TITAN   105.1   Million   
SPX Short- TEMPEST  60.8   Million  

NDX Long - VELOCITY 165.8  Million 
NDX Short- VENTURE  79.8   Million**BULLISH  52 week high??

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

Interesting rotation going on as the ingredients for a bottom are near complete.

1st, for whatever reason BKX TA collapsed. This is extremely bullish given the index closed up 3 points and is a stones throw away from BKX 900.

2nd, SPX Long NOVA dropped below 300 Mil TA as the index closed higher. If we get 1-2 days of selling we could get the coveted inversion in slow moving SPX Long/Short Nova/Ursa Fund. A contrarians wet dream.

3rd, Money Market levels stayed above oversold 1.4 Bill on an up day. Bullish as nobody puts cash to work and the wall of worry mounts.

4th, Dynamic NDX Short Venture TA hits a new 52 week high (someone correct me if I am wrong) as NDX rises 1.7%.

The only negatives were rising TA in SPX Long TITAN and decreasing TA in SPX Short TEMPEST. This is to be expected on a typical up day.

Going forward over the next 1-2 trading days, the ideal scenario would be for the market to be down the next 2 days or to have one these days trade down hard. Get the final flush and get TITAN and TEMPEST lined up with the other 'sisters' in BULL MODE. If this were to occur, and we find MM TA levels closing in b/w 1.5 - 1.6 Bill it will be the best opportunity of the year to put the dry powder to work. Lock and load the market will explode out of this hole similar to Oct 98.

Regular Series: 100% XAU Precious Metals
Dynamic Series: 100% Long SPX TITAN

Best Regards, J.T.
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