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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: J.T. who wrote (8469)9/7/2001 12:59:35 AM
From: J.T.  Read Replies (1) of 19219
 
Rydex Total Assets Update for Thursday, September 6th, 2001: 

Regular Series:

SPX Long - NOVA     233.1  Million**BULLISH  
SPX Short- URSA     249.4  Million**Inversion
NDX Long - OTC      861.5  Million**BULLISH -  NEW 2 1/2 Yr LOW   
NDX Short- Arktos   92.5   Million**BULLISH  
               
XAU Precious Metals 58.1   Million    
Banking             21.9   Million**BULLISH
Biotech             337.6  Million   
Money Market        1.478  BILLION**Oversold

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

Dynamic Series (200% correlation to Index)

SPX Long - TITAN    61.8   Million**BULLISH - Inversion  
SPX Short- TEMPEST 105.8   Million**BULLISH 

NDX Long - VELOCITY 119.4  Million 
NDX Short- VENTURE  91.3   Million**BULLISH

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

*Friggin MM TA levels and NDX Long Velocity needs to visit the porcelein goddess and give it up and IT HAS STILL NOT HAPPENED. That means MM above 1.5 Bil minimum and Velocity below 100 Mil minimum with inversion to Tempest. While this is not a mandatory requirement in searching for bottom, it definitely makes it a much more compelling argument for the Bulls to say the time has finally arrived to dive in. Especially if one wants to average down positions already in da hole.

*Good news for BKX is that it filled that BKX 820-830 gap from 4/9 4/10 I mentioned last week to perfection. BKX Sh!t the bed today to close at BKX 824.71 down 22 point with an intraday low below 820. Need BKX to stay above death support benchmark BKX 780. We can have one false break close below this level but back to back closes below BKX 780 and we got serious problems. I don't expect this to happen. BKX TA pukes it up and this is BULLISH.

XAU going for at least a partial gap fill hopefully tomorrow or soon thereafter at XAU 53.33 - 53.65 after closing down today to XAU 54.50 down $1.17.

While all the ducks are lined up in the SPX for the reversal; and furthermore, while the NDX Long OTC is finally shaving off all the excess in TA, the prob continues to be the NDX VELOCITY read above 100 mil TA and this has been more than a pain in the @ss. NDX OTC Long says we bounce hard- NDX Velocity is finally showing signs of cracking - but one close below 100 Mil TA would be ideal and give the all clear GREEN Light to load up long with any remaining levels in cash one can commit. Nevertheless, one rarely gets 'ideal conditions' where all sentiment data line up to perfection to go long. Nobody rings the bell at the bottom when its time for reversal and launch.

Bottom, if not already in, should be in by Wednesday of next week absolute latest.

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

Best Regards, J.T.
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