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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (8442)8/31/2001 8:38:03 AM
From: J.T.  Read Replies (2) of 19219
 
Rydex Total Assets Update for Thursday, August 30th, 2001:

Regular Series:

SPX Long - NOVA     238.7  Million**BULLISH  
SPX Short- URSA     235.4  Million
NDX Long - OTC      927.6  Million**BULLISH - Near new 3 year low   
NDX Short- Arktos   90.9   Million**BULLISH  
               
XAU Precious Metals 75.7   Million**BEARISH    
Banking             44.5   Million**BULLISH
Biotech             344.7  Million   
Money Market        1.426  BILLION**Oversold

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

Dynamic Series (200% correlation to Index)

SPX Long - TITAN    66.5   Million**BULLISH - Inversion  
SPX Short- TEMPEST  79.5   Million**BULLISH 

NDX Long - VELOCITY 139.5  Million 
NDX Short- VENTURE  89.1   Million**BULLISH

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

Still no capitulation in the sentiment data. Quite disturbing. Invested money is anticipating a bottom and staying long in a bottomless pit right now. On a day like today with lack of volume and everyyone taking off for a long holiday weekend they could take the market anywhere they want. And since the point of least resistance is down, down lower most likely we will go.

Need fear and despair and it is still nowhere in sight. Only NDX OTC is showing signs of cracking, but we need it to take out 900 Mil before one should take notice. Market will be glad to get out of August barely alive.

Regular Series: 100% Long NDX OTC
Dynamic Series: 100% Long SPX TITAN

Best Regards, J.T.
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