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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: getanewlife who wrote (8166)7/18/2001 12:17:21 AM
From: J.T.  Read Replies (1) of 19219
 
GF-

Sometimes Rydex sentiment analysis is like a gypsy trying to read a turret card. You gotta be flexible, fluid, and roll with the punches.

As for precious metals fund, you and I believe we are in the early stages of a Bull market for the XAU/gold market. But others like Prechter think the XAU is going below XAU 41 and gold down to $200. This is possible if da judge basically throws out that GATA lawsuit as this would do psychological damage to remaining gold Bulls. If gold and XAU held firm after judge tosses case would obviously lead to Bullish undertoe.

I would like to see the XAU advance into this 56.91-57.35 gap left behind and see how it reacts. Consecutive back to back closes above XAU 57.51 is BULLISH and will send Bears for cover and skittish Bulls to re-enter Long.

It is more difficult to make money and be long SPX or NDX on a general market downdraft unless you enter only after sentiment read sets you up for a quick kill. But one must take a disciplined and nimble approach and this is easier said than done.

For example, I correctly prognosticated June would be an ugly month in mid to late may and still got distracted not getting out long by strictly adhering to a disciplined approach as rydex numbers confirmed the Bear setup
near the end of May. Now I wait.

My Rydex data is sparse beyond 1 1/2 years but I do have data on the fall of 98.

The dynamic series only got started in may of 2000.

Best Regards, J.T.
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